The Compound (COMP) token has seen a price increase of 5% in the past 24 hours
The Compound token is currently trading at $315 at the time of writing and the token has entered a consolidation zone with whales looking to spike prices beyond the $400 region. The COMP coin could very well register another 5-10% gains if the bulls retain interest. The token has the potential to rally further if the volume action can be sustained in the future.
How & where to buy Compound in the UK and elsewhere
You will need to register a new trading account with an exchange/broker to purchase cryptocurrencies. There are so many platforms available today that new users can easily get confused as most of the sites offer similar features. We have shortlisted two of the best platforms where you can trade with ease. Avoid trading on decentralised exchanges as they are unregulated.
To register a new account, select a suitable platform and click on the sign up or join now button. Then, create a new user profile by providing your full legal name and email address. You will also be asked to complete an account verification process known as the Know Your Customer (KYC) regulation. Standard documents such as a driving licence and utility bill can be submitted to comply with the KYC rules. Once done, simply deposit funds and start trading.
What is Compound?
Compound is decentralised finance (DeFI) protocol that makes lending and borrowing easy. The native token is called COMP and is used for governance purposes inside the network. Since its inception, Compound has become one of the main players in the DeFi sector.
Should I buy COMP today?
The compound token is currently on a bull run and could rise further in the future after strong consolidation. The token could provide huge gains to its early users if the COMP token continues to rally in the future.
The token serves an important use case in the DeFi industry and receives a lot of interest from investors.
This article is informational only–none of the contents should be construed as financial or investment advice.