What is a Compound wallet?
A Compound wallet is a wallet that holds COMP and can connect to the Compound app. The token never sits inside the app: your balance is recorded on the blockchain, and the wallet holds the private keys that let you control it.
COMP is the governance token of Compound, a lending protocol where people supply crypto to earn interest and borrow against collateral. For what Compound is and how it works, see our guide.
Compound doesn't make a wallet. You use its web app at app.compound.xyz with a wallet you bring. The Bitcoin.com Wallet is one such wallet, made by a different company and independent of Compound.
The same wallet connects to other DeFi apps the same way, such as Uniswap (see the UNI wallet) and Yearn (see the YFI wallet).
| Your COMP wallet handles | What that means |
|---|---|
| Private keys | They authorize every transaction and prove you control your COMP. |
| Receiving address | The address you share when someone wants to send you COMP. |
| Network | COMP's home is Ethereum, where it is an ERC-20 token. COMP on another network is a bridged token with its own contract, so the network matters as much as the address. |
| Approvals | What you have allowed a Compound contract to spend or manage for you. |
| Your Compound position | A supply shows up as a growing balance of the market's own token, such as cUSDCv3. Collateral stays in Compound's contract until you withdraw it. You see both in the Compound app. |
Receiving COMP means checking two things, not one: address + network.
Give the sender your Ethereum address and make sure they send COMP on Ethereum. Tokens sent on a network you didn't expect can be difficult or impossible to recover.
