Compound Interest Account Review
Best For
- DAI Holders
- Privacy Focused Lenders
- Institutions
Compound is an Ethereum based protocol that enables users to deposit their ERC20 crypto assets into a decentralized money market pool. These asset balances then accrue fluctuating interest rates based on supply and demand.
Compound Interest Account - 2020 Comprehensive Review
Compound Interest Account Overview
| APY Rates | #NAME?% |
|---|---|
| Interest Earning Assets | ETH, DAI, USDC, REP, ZRX, BAT, WBTC, USDT, comp, UNI |
| Rate Variability | Medium Variable, High Variable |
| Earn Interest on | Stablecoin, Crypto |
| Deposit Amounts | $0 - $1,000,000 |
| Payout Frequency | Daily |
| Lockup Terms | Flexible |
| Compound Interest |  |
| Network Token |  |
| Token Benefit | No Token |
| Platform Type | Decentralized Lender |
| Deposit Insurance | |
| Credit check | |
| KYC Check | |
| Platform Fees | No Fees |
| Supported Regions | All Countries |
| Excluded Regions | Sanctioned Countries |
Compound Interest Rates (APY)
| Earn On | APY Rate |
|---|---|
| EthereumETH | #NAME?% |
| DAIDAI | #NAME?% |
| USD CoinUSDC | #NAME?% |
| AugurREP | #NAME?% |
| 0xZRX | #NAME?% |
| Basic AttentionBAT | #NAME?% |
| Wrapped BitcoinWBTC | #NAME?% |
| TetherUSDT | #NAME?% |
| Compoundcomp | #NAME?% |
| UniswapUNI | #NAME?% |
Compound Interest Account Alternatives
Pros and Cons
Pros
- No Lock Ups - Compound does not impose any duration restrictions on deposited crypto assets. Users may withdraw at any time, without penalty.
- Global Accessibility - Users looking to earn interest on their crypto assets via the Compound protocol can do so without any geographical restrictions.
- Wallet Integrations - The Compound protocol supports a variety of crypto asset wallets including Coinbase Wallet, Ledger, & Metamask.
- Privacy - Compound does not require users to verify their identity via KYC checks or submit any personal information in order to access the platform.
- Institutional Support - Andreesen Horowitz, Coinbase Ventures, Bain Capital Ventures, Polychain, and other prominent venture capital firms have all invested in Compound Labs.
Cons
- Supply APR - Compound’s interest rates fluctuate due to supply and demand. This makes it more difficult to calculate the future investment value of deposited crypto assets.
- Bitcoin Interest Currently Unavailable - Compound does not currently support non ERC20 compatible crypto assets. Users looking to earn interest on their Bitcoin can see our Nexo Interest, BlockFi Interest, and Celsius Interest reviews
- Balances Not Insured - Users deposit crypto assets at their own risk into the Compound protocol smart contract. Compound is not a regulated or licensed entity and as a result, there is no balance insurance offered.
Frequently Asked Questions
Is Compound safe?
Is Compound insured and regulated?
Does Compound require users to KYC?
Can I earn interest on my Bitcoins with Compound?
Which crypto asset wallets has Compound integrated with?
Summary
As of 2019, Compound remains one of the most decentralized options available for users looking to earn interest on their native Ethereum crypto assets. The protocol has attracted a considerable amount of development interest, including integrations with Coinbase Wallet, Huobi Wallet, Dharma, and more.
Compound Labs has strong venture capital backing and the required resources to continue their impact on the decentralized finance ecosystem. When non-native Ethereum assets become available on the protocol, we expect Compound to be drive even more user adoption.
Overall, Blockfer recommends Compound for users willing to sacrifice higher interest rates for more privacy. Crypto asset loans with attractive rates can also be obtained on the platform due to high demand for their available interest products.
| Learn More | Best Features |
|---|---|
|
Legal & Regulation - Facts & Figures
| Legal Name | Compound Labs, Inc. |
|---|---|
| Incorporated Country | United States |
| Headquarters | San Francisco, CA United States |
| Year Founded | 2018 |
| CEO | Robert Leshner |
| Total Employees | 11-20 |
| Regulators | Not Regulated |
| Links | Website, Crunchbase, Whitepaper, Source code, Twitter, Blog, LinkedIn |
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About The Author
Delton has been writing about blockchain finance & technology, decentralized applications, and crypto assets since 2017. His work has been published and featured by several independent news publications and blockchain projects.
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Methodology: How We Review And Compare
Our mission is to provide the most informative, unbiased, and useful reviews and comparisons possible for products and services in the blockchain finance industry. Assessments are powered by experts with years of relevant experience.
The interest product providers found in this category have been tested extensively by our team as part of the review process. Factors we analyze in our interest product reviews and comparisons include: APR rates, compound interest, available assets, terms and fees, and deposit amounts.
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