This article will find the best Compound COMP interest rates and staking rewards APY.
We list all the companies offering Compound COMP saving accounts so you can easily see where to get the best yield.
It´s essential to make your HODL coins work for you to earn crypto passive income.
List: Best Compound COMP Interest Rate
The table below shows you the best Compound COMP interest rates and staking rewards APY.
As you can see, Celsius Network will give you the best yield on your COMP holdings.
You can get a slightly better yield with Crypto.com, but you have to stake many CRO tokens.
*Sign up bonus with terms and conditions
**Reduction in fees
Kucoin Best Compound COMP interest Rate
Kucoin lending offers the best Compound COMP interest rate. Here, you can earn 4- 7% by lending your COMP tokens to margin traders who are willing to pay interest when borrowing your funds.
Since the margin funding feature is an open marketplace, the interest rates are dynamic. It means that changes all the time but you can easily check the current COMP interest rates at Kucoin.
Kucoin also accepts US customers to use their margin funding feature.
Crypto.com Earn and Interest on COMP
Crypto.com offers the best Compound COMP interest rate if you stake enough CRO.
However, if you don´t stake any CRO, the COMP interest rate is as low as 0.5%.
But remember, there are more benefits than only higher interest rates on the Crypto.com Earn features. For example, you will get a CRO-staked VISA card with great rewards such as free Spotify, Netflix, free Amazon Prime, etc.
Crypto.com offers the lowest crypto exchange credit card deposit fee for US customers.
Crypto.com Bonus Codes and Offers
Crypto.com consists of a complete ecosystem around cryptocurrencies. They have “Earn” in the Crypto.com app, CRO staking in the desktop exchange application, and Crypto.com Supercharger regarding crypto passive income.
If you sign up with the Crypto.com mobile app and use our referral code, you can get a $25 bonus. See the terms in the blue box below.
Crypto.com SignUp Bonus
When you signup with Crypto.com via our referral link and stake CRO for a Ruby metal VISA card ($400) you will get $25 in a welcome bonus. The ruby card will give you 2% cashback on all purchases and 100% back on Spotify.
Crypto.com Referral Code: mcmk7qgbhh
Binance Earn and COMP staking rewards
With Binance Earn, you can deposit and earn staking rewards on most cryptocurrencies. However, the staking returns vary a lot. Binance offers the best returns on some cryptocurrencies while they offer the lowest returns for other cryptos.
Binance Best Referral Codes
We give you the best Binance referral ID where you will get -20% on all fees ever charged by Binance.
YouHodler Compound COMP interest Rate
Youhodler is offering a low Compound COMP interest rate and you should consider the other options listed in this article. Read more in our YouHodler Review.
What is Compound COMP?
Compound (COMP) is an Ethereum token that enables community governance of the Compound protocol. The protocol is a series of decentralized interest rate markets that allow users to lend and borrow Ethereum tokens at variable interest rates.
The compound is a decentralized finance (Defi) protocol. Compound uses multiple crypto assets to provide lending and borrowing required without a financial intermediary like a bank. We have listed other Defi protocols on Cryptocoinzone. For example, Uniswap UNI is a decentralized crypto exchange with no financial intermediary. See all the best Uniswap UNI interest rates and staking rewards.
Aave and Compound are two of the most considerable decentralized borrowing and lending Defi platforms. Read about the best AAVE interest rates and staking payouts.
Coin Bureau about Compound
In the video below, you can see how Coin Bureau describes the Compound protocol. Coin Bureau is the best information source on Youtube and the largest Youtube channel for crypto-related content.
Pay Tax on Compound COMP interest payouts
Yes, you will have to pay tax on Compound COMP payouts.
Luckily, there is an easy way to do this with crypto tax software. With crypto tax software you can automatically import all your transactions and let the software calculate all your tax obligations in your local fiat currency.
Read our complete guide on tax on crypto interest payouts.
Where to buy Compound COMP
Binance is the best place to buy Compound COMP with the most trading volume, as you can see in the screenshot from Coingecko below.
Are there any risks with Compound interest accounts?
There are risks associated with financial assets and 3rd party interaction.
What are some risks?
- Some interest accounts have lock-up periods. The deposited cryptocurrency can lose value during the lock-up period, and you might not be able to sell it due to the lock-up terms.
- The 3rd party hosting the interest account can default/go bankrupt.
- The 3rd party hosting the interest account can be hacked.
You are always responsible for doing your research before you deposit any financial asset to a 3rd party, and we only create this content for information purposes. In addition, we use affiliate links which means that we will get a reward if you sign up and deposit to any listed companies.
Read more about crypto investing risks in our crypto portfolio risk management article.