Buy Compound COMP (€39.84)

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. 

At Anycoin Direct, you can easily buy, sell and swap COMP and other cryptocurrencies in just three steps.  

Step 1: Create an account 

Before you can get started at Anycoin Direct, you need to create an account. The process is simple and quick. After logging in, you can buy, sell and swap COMP. 

Step 2: Place an order 

Placing an order is simple. Go to the Anycoin Vault and choose the cryptocurrency you want to buy. Decide how much you want to spend, or choose how many COMP tokens you want to buy. Complete the order by choosing a payment method. Common payment methods include iDeal, Bancontact, Mastercard, SEPA, Giropay, SOFORT and VISA. 

Step 3: Buy, sell and exchange COMP in the Anycoin Vault. 

Top! Your order has been successfully completed. Your COMP tokens can be found in the Vault dashboard. From here, you can sell your tokens, buy additional tokens or swap them against any other cryptocurrency we offer.  

You can store your COMP tokens in our secure Vault. Your tokens can also be found here in a clear environment. From the Vault, you can easily buy, sell and swap any cryptocurrency we offer against another crypto. 

Compound's price is determined by several factors. The most logical one, of course, is supply and demand. The more people want to buy, the higher Compound's price will be. In cryptocurrency, there is also a saying that goes: buy the rumour, sell the news. Traditionally, the more positive news a coin has, the higher the price will be.

Another important factor is Compound's actual roadmap. What do they promise in the future? And do they deliver on their promises? Are updates planned? In short, positive developments determine Compound's direction.