Buy Compound in Canada

Compound made simple

Everything you need to know about Compound and how to start investing in it.

Current Price

This one’s easy: the price the coin or token is trading at right now.

$76.43 CAD

+$2.28 (3.08%) past 24 hours

Market Cap
The value of the entire supply of a specific cryptocurrency or token. It’s calculated by taking the price of a coin/token and multiplying it by the total number of that coin/token in circulation.
Circulating Supply
The amount of coins that have already been created and are available in the market.
24h low - high range
Low-high range over the past 24 hours.
$69.00 - $75.19

Compound 101

Compound is a decentralized lending protocol. That means that you can take out loans of cryptocurrencies, all without a bank manager watching over your shoulders. In fact, rather than loans taking months to process, they’re instant, with lending rates determined by the protocol. You can also lend out your cryptocurrencies, too.

Compound launched its so-called governance token, COMP, in the summer of 2020. It was a riotous success when it launched, in part because you could earn it by using the protocol. The token was so valuable that people took out expensive loans on Compound just to earn it, in the hopes that COMP would become so valuable that they would still make a profit by selling the token after paying back the loan.

The practice of cycling cryptocurrencies through all these protocols to earn governance tokens became known as yield farming, and now there are bespoke protocols, like Yearn Finance, that operate like hedge funds that suck up all these governance tokens.

Why Wealthsimple Crypto?

Wealthsimple Crypto lets you buy and sell cryptocurrencies all in one easy-to-use app. And as Canada’s first regulated crypto platform, you can trust that your coins are in good hands. How simple is it?

  • Sign up in minutes right from your phone or laptop
  • Start trading crypto with as little as $1
  • No account minimums
  • No clunky dashboards — just one super simple app
  • Best of all: you don’t need to be an expert in crypto or blockchain to get started
Get started with Crypto

What can you do with Compound?

You can use Compound in several ways. The most obvious is to use it as a governance token in the Compound protocol, meaning you can use it to vote on the parameters that define how the protocol is run. You’ll have to own a huge amount of Compound to influence a vote yourself, but every little counts.

You can also lend out or borrow the Compound token directly on the Compound protocol. In other words, lending or borrowing COMP on Compound earns you extra COMP tokens. You can then sell these COMP tokens on secondary markets, like a cryptocurrency exchange. Because COMP is based on the Ethereum blockchain, you can also deposit it in other decentralized finance protocols, like lending protocol Aave, to earn rewards elsewhere.

Lastly, you can buy and sell Compound on exchanges (or brokerages like Wealthsimple), and speculate on its price.

Is Compound a smart investment?

Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in Compound or stocks) is: never invest what you can’t afford to lose. The smartest way to grow your money long term is with a diversified, low-cost portfolio that tracks the market.

How we keep your Compound safe

As Canada’s first regulated crypto trading platform, we’re required to meet certain requirements — like using only qualified custodians (like Coinbase Custody) for cold storage.

FYI: Wealthsimple Crypto is not an exchange itself. Instead, we work with multiple exchanges to give you the best Compound prices.

And to make sure your coins are extra protected, we’ve partnered with Coincover for an extra layer of security.

If you’re holding crypto outside of Wealthsimple, that’s no problem. You can safely transfer your Compound to your Wealthsimple account in just a few taps.

Ready to get started?

Download the Wealthsimple Trade app, create your account, and start trading Compound with just $1. It’s that simple.

By clicking “Create account”, you agree to Wealthsimple’s Terms of Use and Privacy Policy.


Compound is a decentralized lending protocol that lets you borrow and lend out tokens to other users on the platform. There are no banks, credit checks or loans managers: the whole thing runs on code. Compound, also known as COMP, is its governance token. It is used as an incentive to get people to take out loans on Compound, and also as a voting chip to influence the parameters that the protocol sets around its loans.

As of October 28, there is a total of 6,018,895 COMP in circulation, and the supply is capped at 10 million. About 1.2 million COMP tokens have been distributed to people who have interacted with its lending protocol, with another 3.3 million left to go. You can earn COMP by borrowing or lending tokens on the protocol—think of them like loyalty points that you can sell on cryptocurrency exchanges instead of cashing in for a trip to Disneyland.

You can’t ‘spend’ COMP as you would dollars and cents, but you can trade it like any other cryptocurrency on the Ethereum blockchain. You can also lock it up within Compound’s governance protocol and use it as a voting chip, meaning you can vote on how the lending protocol operates.

Yep! When you open a Wealthsimple Crypto account, you can get started with anywhere from $1 to $1,500 instantly.

Generally speaking, the CRA treats cryptocurrencies as a commodity. Here’s what they say:

Any income from transactions involving cryptocurrency is generally treated as business income or as a capital gain, depending on the circumstances. Similarly, if earnings qualify as business income or as a capital gain then any losses are treated as business losses or capital losses.

Always keep solid records of any Compound transactions. If you use Wealthsimple Crypto to buy or sell cryptocurrencies, we’ll generate some of those tax documents for you.

Compound’s current market cap is 741,067,176.

The current price for Compound in Canadian dollars is $76.43.

Buying Compound with Wealthsimple is, well, simple. The first thing you need to do is open and fund a Crypto account in the Wealthsimple Trade app. You can connect your bank account and add up to $1,500 instantly.

From there, follow these steps: 1. Tap the magnifying glass icon in the top right corner of your screen 2. Type in Compound 3. Tap Buy 4. Enter the dollar value of cryptocurrency you'd like to buy and tap Continue 5. Review the order details and tap Confirm order

You can choose between two different order types when buying Compound. A market order lets you buy or sell crypto immediately at the best available price at the time. A limit order lets you buy or sell crypto at a specific price or better.

You can withdraw funds from the cash balance in your Crypto account and move those funds to your bank account. Withdrawals typically take around 2 - 3 business days.

A crypto wallet — often called a “hot wallet” — is a location for holding crypto “on-chain” (i.e. linked to the blockchain versus off-chain cold storage.) Many users use wallet applications to help them manage their blockchain addresses, since each chain uses its own addresses.