Thinking of diving into the world of decentralised finance? Buying Decred (DCR) is a smart way to start. Decred is a unique cryptocurrency that stands out with its hybrid consensus mechanism, combining Proof-of-Work (PoW) and Proof-of-Stake (PoS) systems. This approach ensures robust security and decentralised governance, making Decred a community-focused blockchain.
With DCR, you don’t just hold a token—you get a voice in the network. By staking your coins, you can participate in decision-making and vote on key changes to the blockchain. Decred’s system is designed to resist attacks, maintain efficiency, and support sustainable development.
If you’re ready to explore the possibilities of Decred, this guide will show you exactly how to buy DCR and take your first step into this innovative ecosystem.
How to Buy Decred in 4 Easy Steps
Follow these steps to easily buy and store your Decred tokens securely:
Step 1: Choose a Crypto Exchange Platform
The first step in purchasing Decred is selecting a reliable exchange. Ensure the platform you choose has strong security, a smooth user experience, and a solid reputation. If you wish to buy using fiat currencies, you can purchase Decred with Euro on Bitvavo or Indian Rupees on BitBNS and WazirX.
For those with altcoins, there are multiple platforms offering convenient trading pairs. Tether (USDT) trading pairs are available on KuCoin, Binance, HTX, Gate.io, and MEXC, while Bitcoin (BTC) pairs can be found on CoinEX, CoinDCX, and HitBTC. Choose the exchange that best fits your needs and funding preferences for a hassle-free experience.
Step 2: Register on any of the Platform
Once you’ve picked your exchange, the next step is to sign up. Go to the platform’s registration page and provide the required details, such as your email address, phone number, and residential address. To verify your identity, you’ll need a government-issued ID, like a passport or driver’s license.
Most platforms verify your details quickly, usually within a few hours, ensuring a smooth registration process. Once verified, you’ll be ready to start purchasing Decred.
Step 3: Buy The Cryptocurrency Using Your Feasible Payment Method
Now that your account is set up, it’s time to fund it and purchase Decred. If you prefer using fiat currency, Bitvavo supports Euro purchases, while BitBNS and WazirX allow purchases with Indian Rupees.
For those with altcoins, you can trade Tether (USDT) for Decred on KuCoin, Binance, HTX, Gate.io, and MEXC, or trade Bitcoin (BTC) for Decred on CoinEX, CoinDCX, and HitBTC. Payment methods vary by platform, and you can choose from options like bank transfers, credit/debit cards, or crypto wallet transfers. Follow the platform’s instructions to confirm your Decred purchase and add it to your portfolio.
Step 4: Store the Cryptocurrency in a Wallet
Once you’ve bought Decred, it’s essential to store it in a secure wallet. Transferring your tokens from the exchange to a personal wallet helps protect your investment. Begin by withdrawing your Decred from the exchange and entering your wallet’s public address.
Make sure the wallet you select supports Decred. Reliable options include Decrediton, Bison Wallet, Cryptopower, Ledger Live, Exodus, and Coinomi. Enter the amount of Decred you want to transfer and confirm the transaction. With your tokens safely stored, you significantly reduce the risk of losing them to online threats.
Popular video guides on buying Decred (DCR)
Where to buy Decred (DCR)
Launched in December 2017, Bitbns is a centralised cryptocurrency exchange known for its spot trading services in India. It supports 138 cryptocurrencies and one fiat currency across 138 trading pairs. BitBNS offers advanced trading features such as margin trading, stop-limit orders, and bracket orders. The platform doesn't require KYC for registration, but KYC is mandatory for trading. Available on both web and mobile devices, BitBNS ensures accessibility with its user-friendly mobile app for Android and iOS.
Factsheet
Operational Since: | 2017 |
Deposit Methods: | UPI, Credit/Debit Card, Bank Transfer and P2P deposit |
Deposit Fees: | Free |
Cryptos Listed: | 637+ |
Trading Fees: | Depends on VIP level (0.03% – 0.25%) |
Fiat Currencies Supported: | INR and AED |
Trustworthiness: | Safe and Reliable |
Established in 2017, KuCoin is a popular centralised exchange that facilitates the trading of a wide range of cryptocurrencies. With over 30 million users as of 2024, KuCoin is renowned for its ease of use and secure platform. The exchange offers a comprehensive trading experience via web and mobile apps, available on both Android and iOS. Despite a lower average trading volume compared to competitors, KuCoin’s stability and user-friendly interface make it a reliable option for crypto traders worldwide.
Factsheet
Operational Since: | 2017 |
Deposit Methods: | P2P Trading, Debit/Credit Card, Third Party Payment, Bank Transfer |
Deposit Fees: | Free |
Cryptos Listed: | 700+ |
Trading Fees: | 0.005-0.01% depending on your tier level |
Fiat Currencies Supported: | 28+ |
Trustworthiness: | Safe and Reliable |
Founded in 2017, CoinEx is a global crypto exchange offering a variety of trading services, including spot, margin, futures, and AMM. With over 500 coins and 969 markets, it boasts a 24-hour trading volume of nearly $900 million. CoinEx prioritises security with its self-developed trade matching engine. The platform's focus on providing reliable infrastructure for blockchain trading has earned it a strong reputation, making it a solid choice for traders seeking stability and diverse trading options.
Factsheet
Operational Since: | 2017 |
Deposit Methods: | Wallet transfer, Debit and Credit card, Bank transfer, Third party mode |
Deposit Fees: | Free for cryptocurrencies |
Cryptos Listed: | 736 |
Trading Fees: | Depends upon the VIP level from (0.1% to 0.2%) |
Fiat Currencies Supported: | 60+ |
Trustworthiness: | Safe and Reliable |
Frequently Asked Questions
Where Can You Buy Decred With A Credit Or Debit Card?
You can easily buy Decred (DCR) using a credit or debit card on trusted platforms like BitBNS, WazirX, or Bitvavo. These exchanges provide a quick and secure way to purchase DCR directly.
If direct purchases aren’t available, you can first buy popular cryptocurrencies like Tether (USDT) or USD Coin (USDC) with your card and then trade them for DCR. This alternative ensures you can still acquire DCR efficiently.
What Will You Need To Buy Decred?
To buy Decred (DCR), you’ll need a few tools to complete the steps easily:
- Exchange Platform: Choose a reliable exchange platform where you can buy DCR. Create an account by registering with your details and ID. Once verified, add funds to start buying DCR.
- Debit/Credit Card: A card is a simple way to add funds to your account. You can buy DCR directly or first purchase another cryptocurrency and exchange it for DCR.
- FIAT Money: Some platforms let you use fiat currency to buy DCR. Check if your preferred currency is supported before registering.
- Crypto Wallet: A secure wallet like Ledger or Exodus Wallet will safely store your DCR tokens. Always review the security and fees of wallets before selecting one.
What Is The Easiest Way To Buy Decred?
The simplest way to buy Decred (DCR) is through a reliable crypto exchange. Choose a platform that supports fiat currencies like Euro or INR and allows purchases with a credit or debit card. Create an account, complete the verification process, and use the trading options to buy DCR instantly. This method ensures a fast, secure, and convenient transaction, with your DCR stored directly in your exchange wallet.
Best Wallets To Store Your Decred (DCR)
Choosing the right wallet to store your Decred tokens is crucial for security and ease of use. Each wallet has unique features that cater to different needs, offering flexibility for all types of users.
- Decrediton: As the official wallet for Decred, Decrediton provides full integration with the Decred network. It offers advanced features like staking and governance voting, making it perfect for users who want to interact deeply with the Decred ecosystem.
- Bison Wallet: Designed with simplicity in mind, Bison Wallet is ideal for those who prefer a user-friendly experience. It provides an intuitive interface for storing and managing DCR, while also supporting easy token transfers.
- Cryptopower: This wallet offers a secure environment for managing Decred tokens. Cryptopower provides a simple yet effective way to store, send, and receive DCR, making it suitable for both beginners and experienced users.
- Ledger Live: Ledger Live, paired with Ledger hardware wallets, ensures top-tier security for your DCR tokens. By keeping your private keys offline, it provides a robust safeguard against hacks, while the companion app allows easy management and transactions.
- Exodus: Exodus is a well-known multi-currency wallet that supports Decred alongside many other cryptocurrencies. Its attractive user interface and built-in exchange make it a convenient option for users who want to manage their DCR and other assets in one place.
- Coinomi: With support for over 1,700 cryptocurrencies, Coinomi offers a secure and versatile wallet for Decred. It features multi-asset storage, enhanced security features, and a straightforward interface, making it suitable for those who hold a variety of digital assets.
These wallets provide the best options for securely storing and managing your Decred tokens, offering different functionalities for all types of users.
