Compound (COMP) Wallet
Download the Compound (COMP) Wallet from Bitcoin.com. Buy, sell, trade, and use COMP and other cryptocurrencies in one safe and simple, but powerful app.
Millions of wallets created
Compound (COMP) mobile wallet
The self-custody COMP wallet trusted by millions. Access and manage COMP on multiple chains.
Connect to DApps
Earn interest on your Compound (COMP) and other cryptoassets, trade using decentralized exchanges, participate in NFT marketplaces and much more.
Full control over your fees
Choose from three optimized presets or manually decide your gas price.
Effortless security
Hold the keys to your Compound (COMP) coins in a wallet so secure, no one can access it except for you - not even us. Protect your assets with passcode and biometric security features. Automatically back up all your wallets and restore access with a single custom password.
Buy, sell, and trade
Build and manage your crypto portfolio. Buy Compound (COMP) with your credit card, payment app, or bank account. Instantly swap between thousands of cryptocurrencies. Protect your returns by trading into stablecoins, or cashing out to local currency.
Track the markets
Stay informed with real-time market data. Get in-app access to the news that matters. Receive notifications when the market is moving.
One wallet for all your cryptoassets
The multichain wallet trusted by millions. Get direct access to the Bitcoin, Bitcoin Cash, Ethereum, Avalanche, Polygon, and BNB Smart Chain public blockchains. Create unlimited wallets to support your privacy. Your digital wallet, in your control.
What is Compound (COMP)?
Compound is a decentralized finance (DeFi) lending protocol that allows users to earn interest on their cryptoassets by depositing them into one of several pools supported by the platform. Launched in September 2018, it is widely considered one of the key “bluechip” DeFi protocols upon which much of the decentralized finance ecosystem is built. Compound runs on the Ethereum blockchain.
Read more: What is Defi?
How does Compound work?
Compound is a decentralized application (DApp) for borrowing and lending. To supply or lend, you deposit cryptoassets into a Compound pool and receive cTokens in return. These cTokens represent your stake in the pool and can be used to redeem, at any time, the underlying cryptoasset initially deposite. Over time, the exchange rate of these cTokens to the underlying asset increases, which means you can redeem them for more of the underlying asset than you initially put in — this is how the interest is distributed.
To borrow, you can take a secured loan from any Compound pool by depositing collateral. The maximum loan-to-value (LTV) ratio varies based on the collateral asset, but currently ranges from 50 to 75%. The interest rate paid varies by borrowed asset and borrowers can face automatic liquidation if their collateral falls below a specific maintenance threshold.
Read more: What’s a DApp?
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