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!
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 TangemWhy 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.
Compound COMP
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See all supported cryptosCompound FAQ
- A reliable wallet for COMP should prioritize robust security and user-friendly access. Tangem offers offline protection coupled with straightforward mobile management.
- Yes, software wallets are generally free. Hardware wallets, such as Tangem Wallet, come with a purchase because they include secure physical components.
- The best wallet for storing Compound is one that keeps your private keys offline while remaining easy to manage. Tangem offers this balance by placing keys in an offline card that you tap with your phone, providing both high security and simple everyday use.
- A Compound wallet is a tool that lets you store, send, and receive your digital assets. It manages your private keys, which prove ownership of your COMP.
- 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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