How to Sell Compound (COMP)
No longer interested in lending your crypto via Compound? It might be time to sell COMP.
Whether you’ve been lending your assets and are looking to cash in on your COMP rewards or you’ve been using COMP to take out a loan yourself, Kraken allows you to sell COMP for crypto assets like KNC, as well as U.S. dollars (USD) and euros (EUR).
Kraken offers over 150 trading pairs in total, so, depending on how you decide to sell COMP, you can gain exposure to a wide range of other assets.
Ready to start?
If you’re more advanced and looking to get right in and start trading, go ahead and sell some COMP!
New to crypto?
For more details on how COMP derives its value, read our official “What is Compound?” guide.
Why sell COMP?
Depending on your risk tolerance and investment allocations, you may also find it advantageous to sell COMP for other cryptocurrencies or fiat.
You might sell COMP if you want to:
- Adjust your long-term crypto strategy
- Avoid losses in times of sudden price movements
- Capture gains from lending cryptocurrency
- Exchange COMP for other crypto or fiat currencies
- Reduce your portfolio’s exposure to lending platforms.
How to sell COMP on Kraken
If you’re ready to go ahead and sell COMP, follow these simple steps below:
Sign up for a Kraken account.
You just need an email address, username and a strong password.
Verify your account.
All you need is your name, birth date, country of residence and a phone number.
Send COMP to your Kraken Address
If you want to sell COMP for another cryptocurrency (like BAL or SNX), first you’ll need to create a deposit address in your Kraken account. Depositing COMP on Kraken is as easy as transferring it to any cryptocurrency address.
If instead you want to sell COMP for a fiat currency (like USD or AUD), you’ll need to send us identification and proof-of-residence documents. Learn more about our different verification levels here.
Once your account has received funding, you can begin selling COMP and other cryptocurrencies on Kraken.
Having trouble selling COMP? Let us know. You can reach us on LiveChat or by email 24/7/365.
Start selling COMP
Not sure if you want to sell? You can always continue holding COMP. If you do, be sure to bookmark our pricing page so you can spot sale opportunities if and when they arise.