How to Buy Compound (COMP) in Australia: A 4-Step Guide for 2025

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Purchasing Compound (COMP) in Australia has never been easier. Whether you're a first-time crypto buyer or an experienced investor, this comprehensive guide walks you through the entire process of acquiring COMP from any Australian state—safely, securely, and efficiently. We’ll cover everything from choosing the right exchange to completing your purchase in just four simple steps.

With decentralized finance (DeFi) reshaping how people interact with financial services, Compound has emerged as a leading protocol enabling users to lend and borrow cryptocurrencies with competitive interest rates. As demand for COMP grows, so does the number of accessible platforms where Australians can buy and manage their holdings.

Why Invest in Compound (COMP)?

Before diving into the purchasing process, it's important to understand what makes Compound unique. Launched in 2018, Compound is a decentralized lending platform built on the Ethereum blockchain. It allows users to supply crypto assets into liquidity pools and earn interest, or borrow against their holdings using other digital assets as collateral.

The COMP token serves as the governance token for the protocol, giving holders voting rights on proposals that shape the future of the platform. As DeFi continues to gain mainstream traction, owning COMP offers both utility and long-term investment potential.

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Step-by-Step: How to Buy Compound (COMP) in 4 Simple Steps

Step 1: Compare Top Cryptocurrency Exchanges

Not all crypto exchanges are created equal—especially when it comes to availability, fees, security, and user experience. To buy Compound (COMP) in Australia, choose a trusted platform that supports AUD deposits, strong regulatory compliance, and easy access to DeFi tokens.

Look for exchanges that offer:

👉 Discover the fastest and most secure way to start investing in COMP today.

Step 2: Create and Verify Your Account

Once you’ve selected an exchange, the next step is registration. Most platforms require you to:

This typically involves uploading a government-issued ID (such as a passport or driver’s license) and sometimes a proof of address. Reputable exchanges like Binance and Independent Reserve use automated systems to verify documents within minutes.

Verification ensures compliance with AUSTRAC regulations and enhances account security—allowing you to deposit funds and trade without restrictions.

Step 3: Deposit Funds Using AUD

After your account is verified, it’s time to fund it. Australian users have several convenient options:

Most platforms support AUD trading pairs, making it simple to calculate prices and avoid unnecessary conversion fees.

Step 4: Buy Compound (COMP) Instantly

With funds in your account, purchasing COMP is straightforward:

  1. Navigate to the COMP trading pair (e.g., COMP/AUD or COMP/USDT)
  2. Enter the amount you’d like to buy
  3. Review fees and confirm the transaction

Your purchased COMP tokens will be credited to your exchange wallet instantly. For long-term holding, consider transferring them to a secure hardware wallet like Ledger or Trezor to reduce exposure to online threats.

👉 Start trading COMP with low fees and high-speed execution—explore your options now.

Best Platforms to Buy Compound (COMP) in Australia

1. Binance

Since its founding by Changpeng Zhao in 2017, Binance has grown into one of the world’s largest and most trusted cryptocurrency exchanges. Regulated in multiple jurisdictions—including Malta—Binance offers Australian users instant access to over 300 cryptocurrencies, including Compound (COMP).

You can purchase COMP directly using a credit or debit card, with processing fees ranging from 1.5% to 3.5%, depending on the payment method. While slightly higher than standard trading fees, these rates remain competitive given the speed and convenience.

Binance also features:

Its streamlined registration and verification process allows new users to begin trading within minutes.

2. Easy Crypto

Founded in 2017, Easy Crypto is an AUSTRAC-registered digital currency exchange designed specifically for beginners. With a user-friendly interface and support for over 140 cryptocurrencies—including Compound (COMP)—it’s a popular choice among Australian investors.

Key features:

Easy Crypto emphasizes accessibility and education, making it ideal for those new to DeFi and crypto investing.

3. Independent Reserve

As an Australia-based exchange serving over 200,000 customers, Independent Reserve offers a secure and transparent way to buy Compound (COMP) with AUD. Trusted by more than 8,000 self-managed superannuation funds (SMSFs), it provides robust institutional-grade security.

Additional benefits:

Supported assets include major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Chainlink (LINK), Maker (MKR), DAI, and Binance Coin (BNB).

Frequently Asked Questions (FAQs)

Q: Is it legal to buy Compound (COMP) in Australia?

Yes, purchasing and holding Compound (COMP) is fully legal in Australia. Cryptocurrencies are recognized as property for tax purposes by the ATO, and regulated exchanges comply with AUSTRAC anti-money laundering laws.

Q: Do I need to pay taxes on COMP investments?

Yes. The Australian Taxation Office (ATO) treats cryptocurrency transactions as taxable events. Capital gains tax (CGT) applies when you sell, trade, or dispose of COMP. Keep detailed records of all transactions for accurate reporting.

Q: Can I use PayPal to buy Compound?

While not all exchanges accept PayPal directly, some third-party payment processors allow AUD deposits through PayPal-linked methods. Check individual platforms for supported payment options.

Q: Where should I store my COMP after buying?

For short-term trading, keeping COMP on a reputable exchange is acceptable. However, for long-term storage, use a hardware wallet like Ledger or Trezor to ensure maximum security against hacks and breaches.

Q: How quickly can I buy COMP?

On platforms like Binance or Easy Crypto, you can complete the entire process—registration, verification, deposit, and purchase—in under 30 minutes using instant payment methods like credit cards or POLi.

Q: Are there fees when buying COMP?

Yes. Fees vary by platform and payment method:

Always review fee structures before confirming transactions.

👉 Maximize your investment potential with fast, secure access to top DeFi tokens like COMP.