Buy Compound
in Ireland

The Compound protocol is a decentralized lending and borrowing platform built on the Ethereum blockchain. Compound allows users to lend and borrow a variety of different cryptocurrencies, such as Ethereum and stable coins, using smart contracts. Both sides of the transaction, the lender and the borrower, who operate on this platform, due to its decentralized nature, only deal with the compound platform and there is no middleman involved. The interest rates on loans and transactions are determined by supply and demand, with borrowers earning interest on their deposited assets and lenders earning interest on the assets they lend out. The COMP token is used to govern the protocol and gives token holders the ability to vote on changes to the Compound protocol. Additionally, users who supply assets to the protocol are rewarded with COMP tokens as interest. Due to the activity of this currency on the blockchain, all information related to transactions are recorded and published in a completely transparent manner; Therefore, the possibility of fraud and abuse is reduced. Also, its decentralized nature increases its liquidity.

In a nutshell, Compound simply works like a decentralized bank and allows users to deposit and receive interest. However, unlike traditional banks that sometimes have negative interest or may have control over deposits, the blockchain platform of Compound does not allow any person or organization to manage and access users' assets.

The COMP symbol is used as a ticker symbol for the Compound token. COMP is used to represent the Compound cryptocurrency on exchanges and other platforms. Similar to stock ticker symbols, cryptocurrency symbols such as COMP can also help traders, investors, and others to quickly identify a particular cryptocurrency and its current market value.

Yes. According to a press release by the Director of Financial Regulation which was published
by the Central Bank of Ireland, blockchain and cryptographic technology have the potential to
bring significant benefits to the economy and to the users of financial services, since
cryptocurrency is being deployed in different situations and for various purposes such as
supporting smart contracts, engaging in payment services, investment activities or, as is often
the case, speculation.

Yes. According to the Irish Tax and Customs Agency (Revenue), if an Irish resident sells a
crypto asset and gains profit from it, any gain would be treated as capital gain and could be
subject to capital gains tax (currently 33%). According to the above-mentioned document, if an
Irish individual was carrying on a ‘trade’ of dealing in cryptocurrency, any profit on the selling of
crypto assets would be subject to income tax, the income tax rates can be up to 55% (including
universal social charge and social insurance). According to the above-mentioned Irish Tax
Agency reference, a trade in crypto-assets would be similar in nature to a trade in shares,
securities, or other assets. Where a person makes a trading profit or loss on crypto-asset
transactions this must be reflected in their accounts and will be taxable in accordance with
normal Income Tax rules.

The audience of this platform can receive interest by depositing their digital assets and earn money through lending. Borrowers can also enjoy the privilege of receiving a loan by pledging cryptocurrency. Therefore, holding COMP tokens grants the holder the ability to vote on proposed changes to the Compound protocol. This means COMP tokens are valuable as a governance token on the Compound network. Additionally, COMP is highly traded on various exchanges and is a valuable trading and investment asset in the crypto world.

Anyone. You are able to easily perform cryptocurrency transactions such as buying, selling,
holding and managing by the help of cryptocurrency exchanges in Ireland. There are also a
varying range of payment services available in Ireland for your cryptocurrency purchase
including: Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer and PayPal which are
highly convenient and secure if your exchange allows these means. Our exchange presents
safe and fast cryptocurrency transactions by such service and is one of the cheapest exchanges
out there to buy cryptocurrency in Ireland, as we charge zero fees for all cryptocurrency
transactions.