Compound Price, News and Analysis (COMP)

Compound (COMP) Frequently Asked Questions

What is Compound?

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. (Description provided by CryptoCompare)

How do I buy Compound?

It is not possible to buy all cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase or BlockFi. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Compound.

Where can I get Compound wallet?

Compound produces its own wallet software that is available for download on its website, which allows you to store Compound on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

What is the value of Compound?

One Compound (COMP) is currently worth $305.73 on major cryptocurrency exchanges. You can also exchange one Compound for 0.00477795 bitcoin(s) on major exchanges. The value (or market capitalization) of all available Compound in U.S. dollars is $1.84 billion.

What hashing algorithm does Compound use?

Compound is a proof of work (PoW) and proof of stake (PoS) coin that uses the X11 algorithm.

How do I mine Compound?

Compound can be mined using specialized mining software. XMR Stak is a commonly-used mining tool that works for CPU mining and GPU mining with both Nvidia and AMD graphics cards. CCMiner is another popular mining tool for computers with NVIDIA graphics cards. In addition to having mining software, you will need a Compound and access to a mining pool that pools your effort with other miners and a wallet to store the Compound that you earn from mining. Most cryptocurrencies have multiple publicly-available mining pools that can be found with a simple Google search.

What coins are similar to Compound?

The following coins use the same hashing algorithm (X11) as Compound: EUNO, FYDcoin, ImageCoin, Axe, SteepCoin, AceD, Netrum, PAXEX, xscoin, INMAXCOIN, Emrals and AVCCOIN.