How to Buy Compound (COMP) in the UK (2021)

One of the cheapest ways to buy Compound (COMP) in the UK is with Binance. This is a popular cryptocurrency exchange that allows UK residents to deposit GBP with a simple UK basic transfer and pay low fees whenever you trade (max 0.1%).

But there are alternative ways to buy Compound (COMP) that you might prefer.

Check out this quick guide for more information.

Where is the Best Place to Buy Compound (COMP)?

Here are some of the best places where you can buy Compound (COMP) in the UK with various payment methods.

ProviderPayment MethodFees (Approx.)
BinanceUK Bank Transfer< 1%
Coinbase ProUK Bank Transfer< 1%
CoinJarUK Bank Transfer1 - 1.5%
Crypto.comCredit & Debit Card2.99%
BC BitcoinUK Bank Transfer5%

Both Binance and Coinbase Pro have trading fees which are less than 1%. Unfortunately, neither of them allows you to buy Compound (COMP) directly with GBP. This means that you’ll need to:

  • Deposit GBP with a UK bank transfer.
  • Buy Bitcoin (BTC) with GBP.
  • Exchange Bitcoin (BTC) for Compound (COMP).

This means you’ll have to pay the trading fees on these exchanges TWICE. It’s also a little more inconvenient.

If you don’t want this extra faff, then an alternative way to buy Compound (COMP) in the UK is with CoinJar. This allows you to buy about a dozen cryptocurrencies, including Compound (COMP), quickly and easily without getting ripped off.

Keep reading to find out more.

How to Buy Compound (COMP) in the UK

1. Binance

Binance logo over their trading interface

Binance was established in 2017 and has risen to become one of the most popular cryptocurrency exchanges in the world. In 2021, it has more than 15 million users.

And I’m not surprised by this. It allows people from all around the world to exchange dozens of cryptocurrencies. More recently, they’ve also begun to support GBP deposits with UK bank transfers, credit cards, and debit cards.

This is great news, as Binance is one of the places with the lowest trading fees (maximum 0.1%).

Unfortunately, you can’t buy Compound (COMP) directly with GBP on Binance. Check out this box below for an overview of what you’d currently need to do to buy it on there.

Overview of Option #1

  • Create a Binance account. You’ll need to verify your identity, but it doesn’t usually take more than a few hours.
  • Send GBP (with a UK bank transfer) to Binance. This might take a few hours to be credited.
  • Buy Bitcoin (BTC) with GBP on the GBP/BTC spot market (real exchange rate, max 0.1% fees).
  • Buy Compound (COMP) with the Bitcoin (BTC) you’ve just bought on the COMP/BTC spot market (real exchange rate, max 0.1% fees).

Head over to the Binance website to learn more.

Binance Website

2. Coinbase Pro

Instructions to limit buy bitcoin (BTC) on Coinbase Pro (Step 1)

Coinbase Pro is another cryptocurrency exchange where you can buy Compound (COMP) in the UK.

With this option, you’ll be able to buy Compound (COMP) at the real exchange rate without paying more than 0.5% in fees.

But – like with Binance – you’re not able to buy Compound (COMP) directly with GBP on Coinbase Pro. The only available trading pairs are:

  • COMP / USD
  • COMP / BTC

This means you’ll need to make two trades on Coinbase Pro to buy Compound (COMP). This effectively increases the amount you’re paying in fees to about 1% if you take this route.

Overview of Option #2

  • Create a Coinbase account. You’ll need to verify your identity and address to comply with KYC regulations.
  • Send GBP (with a UK bank transfer) to Coinbase Pro. My initial deposit took a while, but thereafter I’ve had GBP credited in just a few minutes.
  • Buy Bitcoin (BTC) with GBP on the GBP/BTC spot market (real exchange rate, max 0.5% fees).
  • Buy Compound (COMP) with the Bitcoin (BTC) you’ve just bought on the COMP/BTC spot market (real exchange rate, max 0.5% fees).

Check out the Coinbase website to learn more about this option.

Coinbase Website

3. CoinJar

CoinJar Logo

CoinJar isn’t like Binance or Coinbase Pro. Instead of providing you with a complex trading interface, they’ve focused on making it as simple, quick, and easy to buy cryptocurrencies like Compound (COMP).

You can access it via your browser, or download their easy-to-use mobile app.

There’s a fixed fee of 1% when you buy any cryptocurrency on CoinJar. The exchange rate you’re offered is pulled from the CoinJar Exchange, which is sometimes higher than in other places (less than 0.5% when I’ve checked).

CoinJar only supports GBP deposits made with a UK bank transfer. It supports Faster Payments though, so I’ve found that my deposits are credited within just minutes. But FYI, your first transfer might take a little longer.

Overview of Option #3

  • Create a CoinJar account. It doesn’t usually take long to get verified.
  • Deposit GBP with a UK bank transfer into your GBP wallet on CoinJar.
  • Buy Compound (COMP) with your GBP wallet balance. No messing around.

Check out their website to learn more.

CoinJar ReviewCoinJar Website

Other Crypto Guides

Thanks for checking out this guide to buying Compound (COMP) in the UK!

Want to learn the best place to buy other cryptocurrencies?

Check out these other UK-orientated guides!

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