Buy Compound
in the UK

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 the definition of crypto assets provided by FCA (Financial Conduct Authority), crypto assets are cryptographically secured digital representations of value or contractual rights that use some type of distributed ledger technology (DLT) and can be transferred, stored or traded electronically. According to the consumers’ investment definition by FCA, buying, selling, investing and making payments through cryptocurrency is legal in the UK. But remember to check before you make a purchase, receive a payment or pay using crypto assets if the deployed crypto assets or services are regulated in the UK. An extensive report on UK’s crypto assets regulations is issued by the HM Treasury, Financial Conduct Authority and the Bank of England.

Yes. According to the tax authority of the U.K. government (HMRC) Crypto Assets Manual, cryptocurrency is taxable in the UK. HMRC are clear that crypto may be subject to both Capital Gains Tax and Income Tax depending on the specific transaction. According to the above-mentioned manual, if you’ve sold your crypto for more than you bought it, you’ll likely pay capital gains tax on the profit. For capital gains from crypto tax-free allowance, you'll pay 10% or 20% tax. If you’re trading huge amounts of crypto, HMRC will think you are a trader and ask you to pay income tax on trading, rather than capital gains taxes. For additional income from crypto over the personal allowance, you'll pay between 20% to 45% in tax. The exact amount you'll pay will depend on the transaction you've made, the tax that applies and the Income Tax band you fall into. See UK’s Crypto Assets Manual for Individuals for more information.

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 can easily purchase cryptocurrencies in the UK through exchanges. There are different payment methods available in the United Kingdom. Some popular payment services are: Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer and PayPal. Our exchange allows cryptocurrency handling through the mentioned services via secure, fast and free of charge transactions.