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Compound
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FAQ
Frequently asked questions
Compound (COMP) is a token that has gained significant popularity and usefulness in recent years. It aims to address problems in the cryptocurrency industry, such as high transaction costs and lack of transparency or limited liquidity. Compound is also one of the best-known projects in the DeFi market. With DeFi lending growing in popularity due to their efficiency and profitability, the future of COMP might also be heading toward a huge increase in demand. Please note that this is by no means a buying signal or a financial advice.
One of the ideal ways to easily invest in cryptocurrencies is through Google Pay. Users can quickly deposit funds from their Google Pay accounts into our licensed exchange using its safe and practical platform, which enables them to buy and sell various cryptocurrencies.
The attraction of the compound is that it was founded by a group of entrepreneurs. The founders of this network are people like Geoffrey Hayes and Robert Lashner, whose names are very famous in the digital currency market. In 2018, with its initial public offering, the company managed to raise $8.2 million in capital through large companies such as Andreessen Horowitz and Bain Capital. A year later, it raised $25 million with the support of many influential institutions such as Paradigm Capital.
There are no additional charges imposed by Google Pay over and above those assessed by your credit card company. Be aware that there are no trading fees on our exchange as well.
One of the most important goals of Compound is to provide a platform for interaction between lenders and borrowers. Users can enjoy the privilege of receiving a loan without any intermediaries for pledging their cryptocurrencies, or even lend their property to others and receive interest. This process is similar to the performance of financial institutions; with the difference that it is done in a decentralized manner and on the platform of blockchain. Even by depositing it, you can benefit from the profit of the network.
No. There are no products available through Google Pay that let you buy cryptocurrencies directly through Google Pay services. As a result, you must make a deposit into our legally authorized exchange, which accepts Google Pay, in order to invest in Bitcoin, Ethereum, and other crypto tokens of your choice.
