Buy Compound in Australia easily using a peer-to-peer (wallet-to-wallet) trading platform like Elbaite cryptocurrency exchange.
To buy Compound (COMP) in Australia, simply:
1 - Get an Ethereum wallet
Since Compound is an ERC20 token, you need an Ethereum wallet to purchase it. This is where you will store your purchased Compound. You can get a free online wallet or purchase a hardware wallet. Elbaite is a non-custodial exchange. We do not hold your Compound in a centralised wallet, meaning you are free to use any crypto wallet of your choosing.
2 - Find an offer from a trusted seller on Elbaite cryptocurrency exchange:
Elbaite connects trusted sellers to trusted buyers. Find an offer on Elbaite at a price and amount you would like to buy.
3 - Pay for your Compound purchase
Pay the agreed amount using your bank account. On Elbaite you can pay using OSKO/PayID or mobile banking to the Elbaite escrow bank account where it is kept safe until you receive your Compound in your wallet. The seller will never know your banking details, keeping your data private.
Compound is an algorithmic, autonomous interest rate protocol built for developers, to unlock a universe of open financial applications. Compound (COMP) is an ERC-20 asset that empowers community governance of the Compound protocol; COMP token-holders and their delegates debate, propose, and vote on all changes to the protocol. By placing COMP directly into the hands of users and applications, an increasingly large ecosystem will be able to upgrade the protocol, and will be incentivized to collectively steward the protocol into the future with good governance.
Why buy Compound (COMP) with Elbaite cryptocurrency exchange? Elbaite is the first non-custodial wallet-to-wallet Australian cryptocurrency exchange.
Unlike other Australian crypto exchanges that hold your cryptocurrency in their own centralised wallets, Elbaite's wallet-to-wallet trading means that your Compound is not held by us at any point. This is a safer and more simple trading process, giving you greater control and freedom over your cryptocurrency!
How do I store my Compound (COMP)? There are many Ethereum-based wallet options you can explore when it comes to safely storing your Compound, including using hot and cold crypto wallets. Conducting your own research is crucial to keeping your Compound safe.
What are Hot Wallets?
Hot wallets are crypto wallets that are connected to the internet. They offer better accessibility which simplifies more frequent trading. However, they offer less security against hacks and fraud incidents.
What are Cold Wallets?
Cold wallets are crypto wallets that are not connected to the internet. The two main types of cold wallets are paper wallets and hardware wallets such as Trezor and Ledger wallets. Cold wallets are a popular option for those who value security, or for traders holding Compound as a long term investment.
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