Buy Compound (COMP)
What is Compound (COMP)?
Compound is a lending platform built on Ethereum's blockchain. Compound allows users to borrow or lend money from a pool, without the need for permission. Borrowers can earn returns on their lent money. The interest they receive is determined based on an algorithm and is proportional to the amount borrowed.
The founders founded Compound with the aim: to create more robust credit markets. They want to do this in a decentralised way and in doing so, they want to compete with central players such as banks. Peer-to-peer protocols allow Compound to operate in a decentralised way, through participating borrowers and lenders. The so-called 'pooled loan' model allows lenders to deposit their money in a pool. The assets in the pool can then be used by borrowers to borrow money. A requirement for borrowers is that they can prove they have enough collateral.
Compound started in 2017 as a tokenless protocol. Upgrades to the platform were made unilaterally by the Compound Labs team. The protocol was decentralised, but governance was not, as decisions were made by Compound's team. To indeed be seen as a decentralised protocol, the team introduced COMP. The token was created to govern the protocol in a decentralised way. After several phases, Compound is now fully controlled by holders of COMP, with no residual privileges from Compound Labs.
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Why buy Compound with Anycoin?
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Balances in the Anycoin Vault, are kept in a foundation. This foundation has only one purpose, to preserve our customer funds. This construction ensures that customers are entitled to compensation in the unlikely event of Anycoin Direct's bankruptcy. In addition, we want to reiterate that we always want to give customers a choice between using the Anycoin Vault and sending coins to an external wallet.
Extra information about Compound (COMP)
How can I store Compound?
You can store your Compound tokens in our Vault. Here your tokens can also be found in a well organized environment. From the Vault you can easily buy, sell and swap any cryptocurrency we offer for another cryptocurrency.
Can I buy Compound with iDEAL?
Yes, you can buy Compound with iDEAL at Anycoin Direct. You can also pay with Paypal, SEPA, Sofort, VISA, Mastercard and EPS.
Do you need to buy a whole Compound?
You don’t need to buy whole cryptocurrencies to trade them. You can buy small parts of any cryptocurrency. For example, on Anycoin Direct, the minimum purchase amount is €10.
Is it safe to buy Compound?
Yes, buying Compound is safe with Anycoin Direct as we have advanced security techniques and are officially licensed by The Dutch Central Bank. Buy Compound safely with us with a wide range of payment options.
Is Compound legal in the UK?
Yes, Compound is legal in England. You don't have to worry about the legality of buying Compound.
Do I have to pay taxes on my cryptos?
Depending on the amount of cryptocurrencies you own and the country you live in, the rules for this are different. Always make sure to get information from your personal government authorities.
Can I buy Compound anonymously at Anycoin Direct?
No, identification is mandatory for all our clients. We are required to conduct a thorough client due diligence. This is done using the Know Your Customer principle.
Can I do a business transaction with Anycoin Direct?
Yes, it is possible to make a business transaction through Anycoin Direct. While creating an account, you can choose a business account.
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