How To Buy Compound Coin UK – Buy Compound Coin In Under 5 Minutes

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Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.

Compound is active in the decentralized finance (Defi) arena – with its ever-growing platform matching lenders and borrowers. The Compound protocol is also home to its very own native digital token – COMP.

In this guide, we show you how to buy Compound in the UK from the comfort of your home. We also discuss the best brokers that allow you to invest in Compound and what risks you need to consider before proceeding with your purchase.

#1 Broker to Buy Compound Coin – eToro

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$50
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  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
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How To Buy Compound Coin – Choose a Broker

If you want to buy Compound in the UK – you will need to do so through a trusted online broker. Below you will find the top five UK brokers that allow you to invest in COMP tokens.

  • eToro – Overall Best Broker to Buy Compound UK
  • Coinbase – Best Broker to Buy Compound for Beginners
  • OKEx – Best Low-Cost Broker to Buy Compound UK via a Crypto Deposit
  • Binance – Best Broker to Buy Compound for Asset Diversity
  • Coinjar – Best Broker to Buy Compound UK for Those on a Budget

If you want to know more about any of the Compound brokers listed above – scroll down to read our full reviews!

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How to Buy Compound Coin in the UK – A Quick Guide For 2022

Below you wil find a quickfire guide on how to buy Compound in the UK in less than five minutes. We have chosen eToro for our walkthrough – as the FCA-regulated broker is safe, easy to use, and offers super low fees.

  • Step 1: Open an Account with eToro – To open an account with eToro, you’ll need to provide some personal information and contact details.
  • Step 2: Upload Your ID – To get your eToro account verified – upload a copy of your ID and a proof of address.
  • Step 3: Deposit Funds – You’ll need to deposit some funds into your eToro account before you can buy Compound in the UK. Choose from a debit/credit card, Paypal, Skrill, or a UK bank transfer.
  • Step 4: Buy Compound – Search for ‘Compound’, click on the ‘Trade’ button, and enter your investment size into the ‘Amount’ box. To complete your order, click on the ‘Open Trade’ button.

eToro will execute your Compound token purchase instantly. You can view your investment by clicking on the ‘Portfolio’ button.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

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CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.

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CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.

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83% der Konten von Privatinvestoren verlieren beim Trading von CFDs bei diesem Anbieter Geld. Ihr Kapital ist im Risiko

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Where to Buy Compound Coin in the UK

It’s best to do some research on your chosen broker before you proceed to buy Compound in the UK. After all, you will be required to deposit funds into your brokerage account – so you need to be sure that your capital is safe. Plus, you also need to consider key metrics surrounding fees, customer service, user-friendliness and supported payment methods.

Taking all of this into account, below you will find a selection of the best brokers that allow you to buy Compound in the UK.

1. eToro – Overall Best Broker to Buy Compound UK

etoro review We researched dozens of cryptocurrency brokers and found that eToro ticks all of the right boxes. First and foremost, the platform is simple to use – so the process of buying Compound is suitable even for beginners. You only need to open an account to get started – and the broker even supports debit/credit cards, UK bank transfers, and e-wallets like Paypal and Skrill.

The minimum deposit for new customers of eToro is just $200 – or about £145. Once you have funded your account, you can then proceed to buy Compound in the UK at a minimum stake of just $25 – or about £18. This means that you do not need to risk large amounts to enter the market. You will also benefit from industry-leading fees when using eToro to invest in COMP tokens. This is because the broker only charges a ‘spread’ – which starts at just 0.75% on digital asset purchases.

etoro review

As soon as you have bought your chosen number of COMP tokens, the digital coins can be found in your eToro portfolio. There, you can see how your tokens are performing in real-time. You can also cash out your investment whenever you wish – 24/7. If you are interested in buying other digital currencies, eToro has you covered. You can buy everything from Bitcoin, EOS, and Ripple, to Bitcoin Cash, Uniswap, and Cardano. There is also a professionally managed cryptocurrency portfolio at eToro – which allows you to invest in lots of different tokens via a single trade.

etoro review

An additional passive investment tool at eToro is the copy trading feature. This allows you to choose a successful eToro investor that alligns with your financial goals and subsequently copy all of their trades. This feature comes with no additional fees, albeit, the minimum investment per copy trader is $500 (about £360). Unlike the other cryptocurrency brokers that we review on this page, eToro also offers traditional asset classes. This includes indices, forex, commodities, and ETFs.

In fact, the platform is also home to thousands of stocks and shares. This includes companies listed in the UK, the US, Europe, Asia, and more. Best of all, you can buy shares at eToro without paying any commission or stamp duty. In terms of safety – this is where eToro really stands out. After all, the broker is regulated by the UK’s FCA, as well as licensing bodies in Australia and Cyprus. The platform’s reputation is further boosted by the fact that eToro is now used by over 20 million people – which is huge.

Pros

  • Invest in cryptocurrencies on a spread-only basis
  • Buy thousands of UK and international stocks at 0% commission
  • Minimum investment per trade from just $25
  • Supports debit/credit cards, e-wallets, and local bank transfers
  • Regulated by the FCA, CySEC, and ASIC
  • Used by over 20 million people
  • Perfect for beginners
  • Social and copy trading tools

Cons

  • Perhaps too basic for technical traders
  • No support for MT4 or MT5

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

2. Coinbase – Best Broker to Buy Compound for Beginners

coinbase review Coinbase is an online broker that focuses exclusively on cryptocurrencies. The platform was first launched in 2012 – which makes it one of the most established providers in this industry. It’s also one of the most used – with more than 35 million people actively buying and selling digital assets on the platform. Coinbase allows you to buy Compound in the UK with ease – not least because it supports GBP deposits.

Once you have registered an account and uploaded some ID, you can use your Visa or MasterCard to buy COMP tokens instantly. This will cost you a total commission of 3.99% of the transaction amount. You can also deposit funds via a UK bank transfer for free and then pay a standard commission of 1.49%. Although this is the cheaper option, expect to wait a couple of days for your bank deposit to arrive. Either way, as soon as you have purchased Compound, the tokens will appear in your Coinbase web wallet.

coinbase review

You can then leave the tokens there until you are ready to cash out or withdraw them to a private wallet. Coinbase itself offers a native mobile wallet that comes via an Android and iOS app. This comes with a plethora of security features and even allows you to buy and sell crypto on the move. Coinbase offers plenty of other cryptocurrency markets on its platform – which covers coins of various shapes and sizes. You can also spend your cryptocurrency tokens in the real world by ordering the Coinbase debit card – which is issued by Visa.

Pros

  • One of the most popular cryptocurrency exchanges
  • More than 35 million users
  • Supports instant debit card purchases
  • Dozens of digital currencies to choose from
  • Institutional-grade security practices

Cons

  • Debit card deposits are expensive at 3.99%
  • You will pay a standard trading commission of 1.49%

at eToro, UK’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. No EU investor protection

3. OKEx – Best Low-Cost Broker to Buy Compound UK via a Crypto Deposit

OKEx is a hugely popular cryptocurrency exchange and broker that was first launched in 2014. It has since served over 20 million traders and processes billions of pounds worth of digital currency orders each and every week. OKEx allows you to buy cryptocurrency instantly with a debit or credit card – but this doesn’t include Compound. If this is the option you want to take, you would need to buy a popular digital asset like Bitcoin and then swap it for COMP tokens.

Alternatively, if you already have a digital currency stored in a private wallet or at a different exchange, you can transfer the funds into your OKEx account in minutes. Then, you simply need to head over to the respective market and exchange the crypto into Compound. This will cost you a commission of just 0.10% – which is super competitive. Plus, when you fund your OKEx account with crypto – as opposed to fiat money, you won’t need to worry about uploading any ID or proof of address documents.

okex review

As such, the crypto-to-Compound option is arguably the best route. What we also like about OKEx is that it allows you to earn interest in your idle digital currency investments. In the case of COMP, the platform is currently paying an annual rate of 2.77% via its flexible account. Other coins pay even more – with the likes of Tether and Ethereum yielding 12.51%. OKEx is also a good option if you want to engage in short-term cryptocurrency trading – not least because the platform supports over 400+ pairs.

Pros

  • Trusted crypto exchange with over 20 million users
  • More than 400+ digital currency pairs
  • Buy and sell cryptocurrencies with a debit/credit card or bank transfer
  • Low commissions that start from 0.1%
  • Fully-fledged mobile app on Android and iOS
  • Great reputation and highly secure

Cons

  • Debit/credit card fees could be more competitive
  • Derivative products are too complex for beginners

at eToro, UK’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. No EU investor protection

4. Binance – Best Broker to Buy Compound for Asset Diversity

Binance is arguably one of the most popular cryptocurrency exchanges in the space – with over 100 million active accounts now using the platform to trade. The exchange processes in excess of $10 billion worth of trades every day – so the platform benefits from huge levels of liquidity and tight spreads. You will also find some of the lowest trading fees in the crypto scene when using Binance – as the platform charges a commission of just 0.10%.

This commission can be reduced even further when you trade large volumes or own a minimum number of Binance Coin tokens. In terms of the process involved when buying Compound, you can use your debit/credit card to make an instant purchase. You will first need to go through a quick KYC (Know Your Customer) procedure – which simply requires a copy of your passport or driver’s license. Then, you can instantly buy COMP tokens in the UK with your debit/credit card at a commission of 1.8%.

binance review

Other options exist too – with Binance supporting hundreds of cryptocurrencies. For example, you if you currently hold some Ethereum coins, you can deposit the digital funds into Binance and then swap the tokens for Compound. Bank transfers used to be an option too, but at the time of writing this is unavailable. Much like OKEx, Binance allows you to earn interest on your idle crypto investments. With that said, the interest payable on Compound is just 1% at Binance, while at OKEx – this is higher at 2.77%.

Pros

  • Facilitates billions of pounds in daily trading volume
  • Supports hundreds of digital asset pairs
  • Near-instant deposits via debit/credit cards and local bank transfers
  • Trading commission starts at just 0.1% per slide
  • Offers crypto savings accounts
  • Ideal for both beginners and experienced traders alike

Cons

  • Not all supported cryptocurrencies can be purchased with a debit/credit card
  • No e-wallet deposits or withdrawals