EMCD Compound wallet
— One tap. All of crypto

Compound (COMP) is the governance token of the Compound decentralized lending protocol, built on the Ethereum blockchain. This protocol allows users to earn from depositing their crypto or to take loans using crypto as collateral.

The Compound protocol was launched in 2018 by a team of developers from the United States led by Robert Leshner. Before launching the project, Leshner worked in traditional finance and auditing. Among the projects he participated in were Discover Financial Services and HPM Partners LLC. In 2011, he founded the Safe Shepherd startup, which provided solutions for managing private data.

The COMP token is used for voting on changes within the system – the more COMP you hold in your wallet, the greater the weight of your vote. This coin can be interesting as a tool for participating in the governance of one of the largest DeFi protocols. In addition, demand for COMP is supported by its limited use within the Compound ecosystem as an incentive for liquidity providers and by the potential growth of its value as the protocol and the broader decentralized finance sector develop.

If you plan to store or use COMP, you will need a convenient and secure wallet. Here we will explain what a wallet for Compound is, why it is worth creating one on EMCD, and how to do it.

What Is a COMP Wallet

A Compound wallet (COMP wallet) is a program that allows you to store, receive, and send Compound (COMP) tokens. Since COMP is an ERC-20 token, it operates on the Ethereum blockchain, which means it is compatible with most popular Ethereum wallets.

Wallets are classified as hot or cold depending on their level of online integration. Hot wallets require a constant internet connection. They are convenient but more vulnerable to hacking. Cold wallets are devices or programs that operate without a constant network connection. They are considered more secure, especially for long-term storage.

It is also important to distinguish between custodial and non-custodial wallets. In custodial wallets, private keys (your access to funds) are stored by the service – you trust it to manage them. In non-custodial wallets, only you control your wallet and bear full responsibility for keeping your keys safe. A private key is your personal digital “password” that grants access to your tokens. If you lose it, you lose access unless you relied on a custodial wallet.

Why You Should Create a Compound Wallet on EMCD

This platform offers hot custodial multi-currency wallets, combining security and convenience. This makes the wallet suitable for both professionals and beginners. In addition to COMP, the platform supports other popular tokens and coins, including:

• AAVE
• AVAX
• BTC
• BCH
• BELLS
• CAKE
• CAU
• CRV
• ETC
• ETH
• DASH
• DOGE
• KAS
• LDO
• LINK
• LTC
• MATIC
• NOT
• OP
• SOL
• SUSHI
• TON
• TRX
• UNI
• USDT
• USDC

On EMCD you get:

• a user-friendly interface
• guaranteed security and privacy
• transactions without fees – internal transfers within EMCD are free, while external transactions are subject to Ethereum network fees
• access to other ecosystem elements – the crypto Academy, investment service, P2P exchange platform, and mining pool

If you want a convenient and functional wallet for securely storing COMP, EMCD is an excellent choice.

How to Create a Compound Wallet

To create a COMP wallet, go to EMCD.IO and click the “Create Account” button in the top right corner. A page will open where you can choose a registration method – quick registration or via email. For quick registration, click “Create via Google” or “Create via Telegram” and grant the platform access to the selected account.

If you want to register via email:

• enter your email address
• create and enter a strong password
• click “Create Account” below the email and password fields
• wait for a confirmation email from EMCD and verify your address

After registration, you can configure interface and security settings and top up your wallet. You can do this from another wallet, a bank card, or through the P2P platform.