Compound wallet

The most secure hardware wallet for your Compound

Join thousands who trust Tangem for their Compound, the safest cold wallet on the market!

Get Compound wallet

How to secure your Compound with Tangem?

When you buy or hold Compound in Tangem, it secures your private keys in many ways:

With the seedless setup and smart backups on extra devices, your Bitcoin is safe and accessible only to you.
Tangem is IP69K water and dustproof, built to protect against extreme temperatures, EMPs, ESCs, and X-RAYS.
An access code and biometric authentication protect against unauthorized access.
Private keys are generated and stored on its EAL6+ CC secure element.

How to get a Compound Crypto Wallet?

Tangem products are for everyone, from beginners to experts. They keep your crypto safe and easy to manage. With cutting-edge technology, Tangem lets you control and protect your digital assets.

Get Tangem

Firstly

Get the Tangem Wallet.

Take control of your assets with just one tap. It's perfect for anyone new to crypto and offers a great experience for more experienced users too.

Then

Sync Tangem Wallet with our App.

During the activation process, the card’s embedded chip generates a random private key, ensuring that the wallet cannot be compromised.

Finally

Discover the power of crypto.

Manage crypto with balance tracking, secure transactions, and direct purchases or swaps through Tangem Wallet.

Why choose Compound wallet with Tangem.

Privacy

No registration and KYC required to use the app. We don't track your data.

Security

Your private keys are encrypted and never leave your device. Only you have control over your funds.

Convenient designs

Choose from a variety of elegant designs, including unique co-branded editions and our innovative ring-form factor wallet, ensuring both style and functionality.

24/7 Customer care

Fast support for your needs. Live chat and email support for customers from all over the globe.

What is Compound (COMP)?

Compound Finance integrates the governance token COMP into its lending platform, empowering token holders with the ability to shape the protocol's future through decentralized decision-making. With COMP, users can delegate their voting rights to any address of their choice, fostering community participation whether through personal wallets, other users, applications, or DeFi specialists.

What is a Compound wallet?

A Compound wallet is a digital tool that safely stores the private keys needed to manage your COMP holdings. It doesn't actually hold the COMP itself; that resides securely on the blockchain. Instead, the wallet's main purpose is to generate and protect these private keys, enabling easy access and management of your Compound addresses. Essentially, a Compound wallet is meant for storing, sending, receiving, and handling COMP.

How does a Compound wallet work?

Compound wallets operate using pairs of public and private keys to control blockchain accounts. The private key is crucial for accessing a specific COMP account and must remain secret, while the public key can be freely distributed to receive COMP. Withdrawal of funds requires the corresponding private key. Tangem Wallet specifically generates and secures private keys within its robust chip technology.

What are the types of Compound wallets?

Exchange Compound Wallets:
Platforms such as Coinbase, Binance, and Kraken offer Compound trading with traditional currency exchanges through custodial wallets, albeit with risks like losing account access.
Software Compound Wallets:
Digitally installed wallets on various devices that manage COMP and private keys. While convenient, they may fall prey to malware and hackers. Options include mobile, desktop, and browser-based solutions.
Mobile Compound Wallets:
Applications that facilitate COMP management directly from a smartphone.
Desktop Compound Wallets:
Installed on personal computers, retaining private keys on internal drives.
Hardware Compound Wallets:
Secure offline storage alternatives like Tangem, which excel in protecting against online vulnerabilities.

How to Choose the Best Compound Wallet

Choosing the right wallet hinges on personal preferences, elevating factors like user-friendliness, dependability, endurance, and security. For maximum security, a hardware wallet such as Tangem is advisable, especially for storing larger sums and countering web-based threats.

Tangem supports other cryptocurrencies

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Compound FAQ

You can buy Compound on major cryptocurrency exchanges like Binance, Coinbase, or Kraken. You can also use P2P platforms or specialized exchange services. For safe storage, it is recommended to use a reliable wallet like Tangem.
For long-term storage of Compound, a cold wallet such as Tangem is the best choice, offering a high level of security. For active transactions, a hot wallet is more convenient but less protected from hacking.
Transfer fees for Compound depend on the blockchain network load and the exchange or wallet used. Typically, this includes a network fee (gas fee) and possibly additional fees from the platform.
To create a wallet for Compound, install the Tangem app, follow the instructions to set up a cold wallet, and generate a unique address for storing your cryptocurrency.
Compound (COMP) isan Ethereum token that enables community governance of the Compound protocol. The protocol is a series of decentralized interest rate markets that allow users to supply and borrow Ethereum tokens at variable interest rates.
Earning COMP TokensBut how do you get COMP tokens?Compound rewards both lenders and borrowers with COMP tokens based on their activity on the platform. The more you lend or borrow, the more COMP tokens you earn—distributed proportionally and automatically every Ethereum block (approximately every 15 seconds).
The Compound Governance Token (COMP) isthe native token of the Compound protocol, a decentralized lending and borrowing platform built on the Ethereum blockchain. COMP is used for governance and to reward users who interact with the protocol by withdrawing, borrowing, or repaying assets.
Why do governance tokens have value? Many governance tokens have a limited supply. This fact makes them more valuable to existing and new users who want to have more influence in the governance process of a particular blockchain project.
Often, developers behind a decentralized application (dApp) releasegovernance tokens on top of the layer-1 blockchain they're using to support their projects, such as Ethereum (ETH), Cosmos (ATOM), or Solana (SOL).

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Compound wallet

How to secure your Compound with Tangem?