Decred’s killer feature is good governance, and with good governance, you can have any feature you want.
– Placeholder VC
It looks like you have realized Decred’s potential and are looking to stack up some Decred coins.
Well, if that’s the case, you are right on track because Decred cryptocurrency is one of the few on-chain governable currencies out there.
For those of you who aren’t yet aware of it:
Decred is an open source and decentralized hybrid cryptocurrency that has employed proof of work and proof of stake both to achieve an on-chain governance model.
So far, we have seen either proof of stake or proof of work being used predominately, but now Decred governance is showing us an improved model where upgrades of blockchain can be done automatically and efficiently by engagement of DCR token holders.
That’s why we are bullish on it and have listed it in our ‘which cryptocurrencies will survive‘ article too.
How To Buy Decred (DCR) Coin?
Decred is a fork of Bitcoin, and many people who are skeptical of Bitcoin’s governance model are here on Decred’s side.
And I believe you are one of them, so let’s get straight to the point ‘how to buy Decred?’ because that’s what many of the investors want to know.
Here are popular options that you can explore:
- Buy Decred (DCR) with Bitcoin or Ethereum using Changelly
- Buy Decred (DCR) with bank deposits or wire transfer
- Buy Decred (DCR) peer-to-peer with Cash
- Buy Decred (DCR) from Decred exchanges with other cryptocurrencies
Now that you are aware of all the popular ‘How to’ options for purchasing Decred let us see where you can actually buy Decred cryptocurrency through each of these options.
Where To Buy/Sell Decred (DCR) Coin?
#1. Buy Decred (DCR) with Bitcoin or Ethereum using Changelly
One of the easiest ways to get your Decred coins is to acquire it from Changelly. Changelly is an instant cryptocurrency swapping service operating in this space from quite sometime.
So, if you are already holding any cryptocurrency or want to exchange your BTC/ETH for DCR, you can very well do it through Changelly.
The fee is quite low on Changelly as it only takes 0.5% of your transaction.
To be able to do this through Changelly, you will need this:
- First, get your Decred address ready where you would like to receive your Decred.
- Second, you should have some bitcoins/altcoins to exchange for Decred.
So what are you waiting for?
Head on to Changelly and select one of their recommended ways to exchange BTC/ETH for DCR and you should be doing just fine.
Note: Sometimes the exchange can take time, but you need not worry as your transaction history is always available for audit once you have registered on Changelly.
#2. Buy Decred (DCR) from Decred exchanges with other cryptocurrencies
Another popular, as well as a quick way of purchasing Decred, is through centralized crypto-to-crypto exchanges. If you are someone who likes order books and already have BTC/ETH or other currencies then you can trade them for Decred, it’s easy.
You can simply register yourself on one of these Decred exchanges and exchange your currencies into DCR by bidding on their order books.
Here are some of the established cryptocurrency exchanges that you can use for this:
- Binance: Supported pairs are DCR/BTC, DCR/BNB
- Huobi: Supported pairs are DCR/BTC, DCR/ETH, DCR/USDT
- Gate.io: Supported pairs are DCR/BTC, DCR/USDT
- KuCoin: Supported pairs are DCR/BTC, DCR/ETH
- Bittrex: Supported pairs are DCR/BTC
#3. Buy Decred (DCR) with bank deposits or wire transfer
Purchasing Decred with a direct bank deposit or wire transfer is a bit difficult.
That’s because investors are yet to find out and appreciate what Decred has to offer. But not to worry because we have found an alternative for you to acquire DCR via bank deposits.
Buy Decred With EUR
If you are from the European region who is looking to buy/sell Decred for Euro, then you must try bitvavo.
bitvavo is a Netherlands based service that sells cryptocurrencies like Decred and supports various payment methods. But just be aware that their trading fee is a bit on a higher side (i.e., 2.5%) which is also expected because it is dealing directly in fiat currencies.
Buy Decred With USD
So, if you are someone who wants to buy Decred in USD via a bank transfer, you can do so by making an account on Bittrex and following these steps:
- Make an account on Bittrex.
- Deposit USD
- Buy BTC with this USD.
- And lastly, trade BTC for DCR
Buy Decred With AUD
Another quick way of buying/selling DCR is using CoinSpot exchange (Australian Exchange) that allows you to buy/sell Decred for Australian Dollars (AUD).
#4. Buy Decred (DCR) peer-to-peer with Cash or through a DEX
Decred can also be bought and sold in a peer to peer fashion but unlike Bitcoin, we don’t have something like LocalBitcoins for Decred.
Neither we have Decred ATMs yet so peer to peer trading isn’t quite streamlined but if you know someone personally through private trading groups who would like to trade DCR, then you can go ahead and trade with them.
But beware of scammers as in this type of peer to peer trading you will not have the safety of an escrow-like LocalBitcoins.
Lastly, you can trade Decred on decentralized exchanges, which ultimately vetted peers trading among themselves. And this you can do through Bisq– open-source, peer-to-peer application that allows you to buy and sell cryptocurrencies in exchange for national currencies/cryptocurrencies. No registration required.
Conclusion: Which Decred Wallet To Choose?
So these are some of the most popular ways through which you can buy/sell Decred cryptocurrency.
But mind you, do not store your DCR coins on these exchanges or services. Instead, always prefer having a Decred wallet where you store your DCR on a Decred address only.
Lastly, not all Decred wallets are made the same way; some can be good while some can be scammy too. That’s why just be aware of scams and low-quality wallets to secure your DCR.
That’s all from our side in the guide, and we shall be back with something exciting soon.
Untill, next, stay safe and keep evolving in the cryptosphere with TheMoneyMongers !!