How can I use Compound on Coinbase to earn interest on my digital assets?

3 answers

• Dec 27, 2021 · 3 years ago
  Sure! Using Compound on Coinbase to earn interest on your digital assets is a great way to put your idle funds to work. To get started, you'll need to have a Coinbase account and some digital assets that are supported by Compound. Once you have these, you can navigate to the 'Earn' section on Coinbase and select Compound. From there, you can choose the digital asset you want to earn interest on and deposit it into the Compound protocol. The interest you earn will be automatically added to your Coinbase account. It's a simple and convenient way to earn passive income on your digital assets!
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• Dec 27, 2021 · 3 years ago
  Absolutely! Compound is a decentralized lending protocol that allows users to earn interest on their digital assets. To use Compound on Coinbase, you'll first need to connect your Coinbase account to the Compound protocol. Once connected, you can deposit your digital assets into Compound and start earning interest. The interest rates on Compound are determined by supply and demand dynamics, so they can vary over time. It's important to note that there are risks involved with using Compound, such as the potential for smart contract bugs or market volatility. However, many users find it to be a rewarding way to earn passive income on their digital assets.
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• Dec 27, 2021 · 3 years ago
  Of course! Compound is a popular decentralized finance (DeFi) protocol that allows users to lend and borrow digital assets. By using Compound on Coinbase, you can earn interest on your digital assets by lending them to other users. The interest rates are determined by the supply and demand for each asset on the platform. To get started, simply navigate to the 'Earn' section on Coinbase and select Compound. From there, you can choose the digital asset you want to earn interest on and deposit it into the Compound protocol. It's a great way to make your digital assets work for you!
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