Due to the current rise in DeFi, many people seem to be interested in Yield Farming but they often make mistakes and lose of money! So, the GuardaWallet Team has prepared a small step-by-step guide for $COMP Farming. Check it out -

Guarda Wallet has prepared a small tutorial on how to make a deposit to the platform. You can read more in detail in our Guarda Academy.

Compound step-by-step: 

1. So, we’ll start, perhaps, with the most fundamental part — buying ERC-20 tokens.

2. Once you have purchased ERC-20 tokens, you need to tie your wallet with Compound Finance. In order to do this, you need to go to Compound Finance website, and on the main screen click on the App button.

3. The next step is about the connection to the wallet.

4. After the connection, a panel opens with a list of available cryptocurrencies, their balances, and interest rates on Supply and Borrow.

Then, in the control panel, you need to select which cryptocurrency to put (deposit) on the platform. Compound rewards its users both for providing assets for credit (Supply) and for obtaining credits (Borrow). To get the most out of it, users take both sides of the deal. They make a deposit, take out a loan, and deposit it again.

PS: This text is written for information purposes only and never constitutes a call to action. All financial transactions carried out by you are made at your own risk. The Guarda editorial staff reminds you of the riskiness of all kinds of speculation on all kinds of financial markets.