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