How to buy Compound (COMP)?

It doesn't matter if you are in Toronto, Montreal, Calgary, or anywhere in between, Ndax gives you all the tools and support to buy and sell Compound in Canada.

Why buy COMP?

Compound was created for the purpose of creating a trustless, decentralized lending platform. Anyone who deposits supported ETH tokens on Compound can either earn interest on their deposit or use it as collateral for taking out a loan. COMP, Compounds native token, is distributed as a reward to those using the platform.

COMP holders can then propose changes to the protocol as well as vote on proposals made from others, all without any involvement from the Compound team. Buying COMP allows the owner to participate in this governance and it can be bought without loaning or borrowing on the platform itself.

Additionally, COMP has a maximum supply of 10 million tokens. As use of the platform increases, and adoption of DeFi continues to grow, investors are buying COMP for exposure to lending protocols and for the belief that COMP’s value will increase due to its fixed supply and growing utilization.

How to purchase COMP on Ndax

  1. Sign up or create an account: Get instantly verified with Ndax's streamlined verification process.
  2. Fund your account with Canadian dollars: You have the option to fund your account with fiat currencies using Interac e-transfer, Wire Transfer, or a Bank Draft.
  3. Invest in COMP: COMP is highly divisible, so you can buy small amounts to get started. Trade CAD to COMP with as little as $1 and with low trading fees of 0.2%.

Storing your Compound

After investing in Compound, the next step is to store your Compound in a secure cryptocurrency wallet. Depending on your own needs, investment amount, and preferences, you can keep your Compound on a trading platform, a physical hardware wallet, or a software wallet.

You are free to transfer your Compound to a private wallet from Ndax. However, if you decide to store your Compound in your Ndax wallet, we have all the security measures in place to keep your Compound safe and secure.

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What can you do with Compound?

  • Pay for Goods and Services: Online stores, merchants, restaurants, and retail environments continue to adopt COMP and other cryptocurrencies as a means of payment.
  • Invest and Trade: On our trading platform, COMP can be traded directly with the Canadian dollar. You can also easily view and track your trading activity, performance, growth, and profits.
  • Use as a Store of Value: Investors are using COMP as a store of value.

Why buy COMP on Ndax?

  • We take the fear out of trading: Ndax’s security standards are among the highest in the Canadian FinTech industry. Ndax holds the majority of digital assets offline in cold storage protected by multi-signature technology, provided by Ledger Vault, the global leader in security and infrastructure solutions for cryptocurrencies. Hot wallets are protected by Multi-Party Computation (MPC) technology recognized by industry experts.
  • Grow your portfolio with Ndax’s recurring purchase feature: Set Compound recurring purchases to automatically buy COMP to CAD each day, week, or month. Set regular purchases as low as $10.

Download the Ndax mobile app

Download the Ndax mobile app to fund your account and start trading on-the-go from any iOS or Android device.

Download Ndax mobile app:

Google Play

App Store

Gain control of your COMP investments with advanced trading options

The cryptocurrency market is volatile. Avoid missing out on trades by using Ndax’s unique trading options:

  • Limit Order: Buy or sell orders executed at a specific price.
  • Stop order: Order to buy or sell once a cryptocurrency reaches a specific price point.
  • Trailing stop market order: An order that can be set at a specific dollar amount away from a cryptocurrency’s last price, bid, or ask.
  • Trailing stop limit order: Limit buy or sell orders triggered once a cryptocurrency touches a trailing amount set by the user.
  • Fill or kill (FOK) order: Trade that executes immediately and entirely at a certain price, but if it cannot fill the entire order immediately, it will be canceled entirely.
  • Immediate or cancel order (IOC): Trade that executes immediately and cancels any unfilled portions of the order.
  • Reserve order (Iceberg Order): A large trade is divided into multiple limit orders. The orders are split into visible and concealed amounts.

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Are you ready to start trading COMP

Start trading on Ndax today. Experience seamless transactions, top-notch security, and unparalleled support.

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