Compound is a decentralized governance platform that enables crypto to be sent and received. It has a base token called COMP which was built with the ERC-20 Ethereum standard. COMP is the governance token that operates voting privileges on the protocol. Smart contacts are used by the Compound network to hold onto digital assets and generate interest in them after a defined time. These interest rates are dependent upon the supply and demand of the current economy. Back in 2017, Robert Leshner and Geoffrey Hayes were the creative minds behind the founding of Compound COMP. It later officially aired a year later on the main Ethereum net. The base token of Compound, COMP enables its users to give any address of their preference “voting” privileges. The cost of the Compound token (COMP) was $139.83 on Dec. 23, 2020 and with a marketing capitalization of over $574.5 million (approx.).
The best place to buy Compound is right here at Swyftx! Swyftx offers a fast, secure, and user-friendly platform that allows traders to easily deposit Australian dollars to trade Bitcoin and other cryptocurrencies instantly. We offer competitive fees and excellent customer support and we are proud to be Australia's highest-rated crypto exchange as per our Trust Pilot Reviews.
Yes, Swyftx is a safe and secure platform to buy and sell Compound (COMP). Swyftx employs a range of advanced security measures to protect user funds and personal information and has been awarded ISO27001 certification for information security.
Swyftx is a AUSTRAC registered exchange that conducts regular security audits and maintains strict compliance with Australian Anti-Money Laundering and Counter-Terrorism Financing Laws.
You can find more information on our security practices here.
The price of COMP is determined by the forces of supply and demand in the market. Similar to other assets, the price of Bitcoin is determined by the number of buyers and sellers in the market at any given time.
Some significant factors that can influence the demand for Bitcoin are adoption rates, Macro economic factors, News events, upgrades and advancements in its tech and investor sentiment.
You can deposit Australian dollars (AUD) into Swyftx via a number of methods including:
Swyftx also allows you to deposit cryptocurrency from another wallet into your account.
Swyftx does not allow you to directly buy Compound with credit card, however, we do support credit and debit card deposits. Once your deposit has arrived in your account, you can then buy COMP instantly.
Swyftx has a trading fee of 0.6% for all buy and sell orders. In addition to the trading fee, Swyftx applies a spread to each cryptocurrency trade.
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