Recognizing new opportunities in the crypto investment market can put traders in attractive positions. One of the relatively new cryptocurrencies that has attracted the attention of traders is Compound (COMP). If you are also a fan of this cryptocurrency, first of all you need to have a suitable, safe and professional wallet for Compound digital currency. In the following, we will introduce and review the best compound wallets, and by stating the advantages and disadvantages of each, you can finally choose the best wallet to store your digital currencies. Before introducing Compound wallets, it is better to first have a definition of this token and say what Compound is.
Introduction of COMP digital currency
COMP is actually the native token of the Compound project; The COMP digital currency developer team long ago launched a platform called Compound in order to provide its services to users. The services of this platform are mostly for lenders and borrowers. In this project, a daily amount of the network’s native coin is deposited for these two categories of people so that they can also benefit from currency acquisition while receiving facilities. In fact, this action of the developer team is more to attract users, which is in a better position compared to other competing currencies. These details give us hope for the future of the compound.
It should be noted that this platform is based on the Ethereum blockchain. If you are interested in knowing how to buy and sell Compound digital currency, be sure to read its guide from Valex.
All types of wallets for digital currency COMP
In order to be able to use the benefits of a token and maintain it, we need to get help from a suitable wallet for that cryptocurrency. A wallet that can guarantee the security of our assets and provide features such as easy to use, internal exchange, etc. Depending on your financial strategy, you can choose between hardware, software, and web-based options.
1- Ledger
At the beginning of introducing compound wallets, we should have a look at a hardware wallet called Ledger. This wallet has been available to traders since the beginning of this market and it was well received. One of its most important features should be Very high security He mentioned that it can ease people’s mind about keeping tokens like Compound.
This device actually establishes an excellent connection between the user and the blockchain, and the user can engage in buying and selling and keeping many currencies in this wallet. It should be mentioned that more than 1100 other tokens and coins are supported by this wallet and Compound is one of the most important ones. All your private keys are stored completely securely in this wallet and it is impossible for others to access it.
The user interface of this bag seems so complicated that with the content we will say, you can use it better than before. One of the functions of the ledger is that you can estimate the fee for each of your transactions and have a better management of your transactions in general.
Advantages of ledger wallet
- OLED screen for better use and experience
- Set a strong password to enter and use this wallet
- Unhackable wallet
- Great support from the developer team
Disadvantages of ledger wallet
- Complex user for professionals
- expensive
2- KeepKey
Another compound wallet that you may not have heard of is called KeepKey; A wallet that can make compound shopping enjoyable for you. According to many experts, KeepKey can be placed in the 3rd row of the most prominent hardware wallets in this market.
The manufacturer of this wallet started its work in 2016 and apart from providing these wallets, it also offers other products to users in the field of investment. Of course, an important point about this wallet is that it supports only 40 digital currencies in this market, which is less compared to many hardware and software wallets.
Advantages of KipKey wallet
- Very beautiful appearance and design
- Excellent support for digital currencies
- high security
- Excellent customer support and after sales service
Disadvantages of Kipkey wallet
- Relatively harder to carry compared to other digital currency hardware wallets due to heavy weight
- Imbalance between price and reputation of this wallet
- Lack of support for many digital currencies and leaving users’ hands empty
3- Mist
Following the introduction of the best compound wallets, it is time for an online option that may be easier for users to access. MIST wallet It is considered as one of the most attractive wallets for keeping this currency, which also provides you with many possibilities. The company providing this wallet started its work in 2017 and became known very quickly. This wallet is based on the Ethereum blockchain and you can witness ideal security in it.
Advantages of the wallet
- Compatible with all types of systems and browsers
- Balanced fees
- Relatively simple user interface
- Being open source
Disadvantages of the wallet
- Inability to store many digital currencies compared to other software wallets in this market
- The unavailability of its mobile and software versions
- Intermittent slowing down of the servers of this wallet
- Medium security
4- MyEther Wallet
The last option from the list of COMP cryptocurrency wallets, MyEtherWallet, which can be an ideal choice for software wallet enthusiasts. This wallet is now available on Android and IOS operating systems and will leave you free to choose between currencies and store them like Compound. This wallet is also known as MEW in this market and is an open source platform for users.
The activity of this wallet on the platform of the Ethereum network can also be considered an important advantage. This wallet started its work in 2015 and now a large group of cryptocurrency traders use it. The user interface of this bag is also somewhat complicated and over time you will be able to understand its various details and parts.
MyEther wallet benefits
- The simultaneous availability of the web version and the software version of this wallet on different operating systems
- Support for all Ethereum blockchain currencies
- Using some facilities offline and without the need for the Internet
- Good security among software wallets
Disadvantages of our wallet
- A little complicated interface
- Not enough security compared to hardware wallets
Choosing the right wallet for the compound; An interesting challenge
In this article, we tried to review the best ones by introducing compound wallets. You can choose among them according to your taste, budget and need you want to consider to keep COMP. The reviewed options have all passed the test and you should not worry about issues such as security and bugs in them. In the table below, you can have an overview of compound wallets. Also, if you know other options among COMP cryptocurrency wallets based on your experience, write to us.
| Name of the wallet | Type of wallet | security | Score |
|---|---|---|---|
| ledger | hardware | very high | 5.5 |
| Kip K | hardware | Top | 4/5 |
| it is | Under the web | Top | 4/5 |
| Meter Volt | Software and web | Rather High | 4/5 |
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