Buy Compound (COMP) in Canada

Buy Compound in 3 easy steps with 0% CAD funding and 0% CAD withdrawal fees.

Buy Compound

Buy Bitcoin > Cryptocurrency > Buy Compound (COMP)

1. Create an account

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2. Get verified

After you sign up you will need to verify your account.

We are required by law to ask you for some verification questions such as your name and address.

Over 90% of our members get instantaneously verified, allowing them to fund and trade right away!

3. Buy Compound (COMP)

You can buy COMP right away at the best rates and fund your account with an e-Transfer or wire and buy when the price is just right!

Get started with as little as $50 CAD.

Buy Compound

Compound currently sits ranked 47th according to CoinMarketCap with a market valuation of over $2 billion and over 5 million COMP in circulation.  

What is Compound COMP?

Compound is a decentralized finance platform that facilitates peer-to-peer financial transactions of cryptocurrencies. Compound allows lenders to earn interest on their cryptocurrency and borrow other cryptocurrencies. Compound is based on the Ethereum network.

How does it work?

Compound users can deposit cryptocurrency into their wallets to lend or borrow against. Once users have ‘locked in’ their cryptocurrency, they are converted to cTokens (based on ERC 20) and become fully tradable and can move onto or be used on dApps. Interest rates are pegged to how much crypto is locked into a lending pool, and the larger the lending pool, the lower the interest rate. COMP, the native token, is also the governance protocol of Compound, and a predetermined amount is distributed to active lenders and borrowers after every transaction. Users who have at least 1% of the total COMP in circulation are entitled to vote on protocol upgrades.

What makes it stand out?

While there are several decentralized finance platforms, Compound stands out in its novel feature of converting deposited assets into cTokens, adding for greater stability and flexibility for borrowers since they can freely move assets between platforms.

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