What is Compound (COMP)?
Compound is a decentralized finance (DeFi) protocol that allows users to earn interest on their cryptocurrency holdings and borrow assets without the need for a central authority. Launched in 2018 by Geoffrey Hayes and Robert Leshner, the protocol is built on the Ethereum blockchain and has quickly become one of the most popular DeFi platforms. At the moment, the total value locked of Compound is close to $1.6 billion, and the highest TVL at one time was close to $10 billion.
How Compound (COMP) Works
Compound allows users to lend and borrow cryptocurrency without intermediaries, enabling greater efficiency and flexibility than traditional financial systems. Users can earn interest by supplying digital assets to the platform, and can also borrow assets by depositing collateral in the form of other cryptocurrencies. Interest rates are determined by supply and demand, with rates varying depending on the asset being lent or borrowed.
One of the unique features of Compound is the use of algorithmic interest rates, which adjust in real-time based on market conditions. This allows the platform to maintain a balance between supply and demand, ensuring that interest rates remain stable and liquidity is maintained.
COMP is the native token of the Compound protocol, and is used for governance and to incentivize users to contribute to the platform. Users who supply or borrow assets on Compound are rewarded with COMP tokens, which can be used to vote on proposals for changes to the protocol. This ensures that the community has a say in the development of the platform and helps to maintain its decentralization.
How Many Compound (COMP) Tokens Are in Circulation?
There is a total supply of 10 million COMP tokens, with around 7.3 million currently in circulation.
How to Buy Compound (COMP)
Consider investing in Compound (COMP)? It only takes 2 minutes to create an account on Bitget and start trading COMP.
Check out the available COMP trading pairs on Bitget!
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Spot market
Compound (COMP) Resources
Simple 3-step guide to buying COMP today in Vietnam
Create your free Bitget account
Select a funding method
Complete your Compound purchase
Step 1: Create a free account on the Bitget website or the app
Step 2: Place an order for Compound using a payment method of your choice:
Buy Compound with a debit/credit card
For Visa or Mastercard, select Credit/Debit card, then click Add New Card under the "Buy" tab
Credit/Debit in the Buy Crypto tab of the Bitget app
Credit/Debit in the Buy Crypto tab of the Bitget websiteSelect your preferred fiat currency, enter the amount you wish to spend, link your credit card, and then complete your payment with zero fees.
Add a new card to complete your payment on the Bitget app
Enter your bank card details to complete your payment on the Bitget websiteFor Diners Club/Discover card, click Buy Crypto > [Third Party] in the top navigation bar to place your Compound order.
How to buy crypto with credit/debit cardBuy Compound with Google Pay or Apple Pay
Converting your Google Pay and Apple Pay balance into Compound is easy and secure on Bitget. Simply click Buy Crypto > [Third Party] in the top navigation bar to place your Compound order.How to buy crypto via third-party gatewayBuy with bank transfer
We accept various payment methods, including iDeal and SEPA for EUR, PIX for BRL, PayID for AUD, UPI for INR, QRIS, DANA, and OVO for IDR, SPEI for MXN, and GCash for PHP. These services are facilitated by Alchemy Pay, Banxa, Mercuryo, and Simplex payment gateways. Simply select Buy Crypto > [Third Party] in the top navigation bar and select a fiat currency to place your Compound order.Buy Compound with the fiat balance in your Bitget account
You can Deposit fiat funds using Advcash, SEPA, Faster Payments, or PIX payment gateways to top up your Bitget fiat balance. Then, click Buy Crypto > [Cash conversion] in the top navigation bar to place your Compound order.P2P trading
With Bitget P2P, you can buy crypto using over 100 payment methods, including bank transfers, cash, and e-wallets like Payeer, Zelle, Perfect Money, Advcash, and Wise. Simply place an order, pay the seller, and receive your crypto. Enjoy secure transactions with escrow protection.How to buy crypto on Bitget P2P
Step 3: Monitor Compound in your Bitget spot wallet
Bitget—where the world trades Compound
How to buy Compound for free
- Learn how to earn Compound for free through the Learn2Earn promotion
- Earn free Compound by inviting friends to join Bitget's Assist2Earn promotion
- Receive free Compound airdrops by joining On-going challenges and promotions
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Sharing borders with China, Laos, and Cambodia is the Southeast Asian country of Vietnam, home to 99 million residents across its more than 311,000 square kilometers. While Ho Chi Minh is the nation’s largest city (with a population of over 3.4 million), its northern, smaller neighbour Hanoi serves as Vietnam’s capital. The former acts as the country’s financial, technological, and academic hub while the latter boasts a series of historical and religious sites, making it a popular tourist destination.
Within the Southeast Asia region, Vietnam is among one of the fastest-growing economies, with projections for the developing country to rival its developed counterparts by as early as 2050. To further boost its growth, it has also joined several intergovernmental organizations including the ASEAN, APEC, CPTPP, and WTO.
When in Vietnam, some of the top sights not to miss include Halong Bay, Hue, the old district of Da Kao in Ho Chi Minh and the old town quarter of Hanoi, Hoi An, Nha Trang, the countryside of Sapa, and the Phong Nha-Ke Bang National Park. Foodies may also want to try some of the country’s signature delicacies, such as Phở, Bánh cuốn, Gỏi cuốn, Bún bò, and Bánh mì.
Vietnamese is the official language of Vietnam, and Bitget app and website are available in Vietnamese. Bitget also directly supports Vietnam Dong (VND), the national currency of Vietnam, and you can purchase Compound(COMP) in just a matter of minutes, no matter where you are in the country, from Ho Chi Minh, Hanoi, Hue, Nha Trang to Da Nang and Hai Phong. Our exchange offers a series of secure payment options to make trading easier for you, including P2P trading, crypto deposits, and other third-party merchants such as Apple Pay, Google Pay, and different credit card services.