A Step-by-Step-Guide on how to buy Decred (DCR)
Step 1 –
Join Kraken
You will first need to purchase one of the bigger coins. Exchanges commonly accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for alternative Coins. Click the button below to register and receive Ethereum or Bitcoin.
Step 2 –
Send Your Funds to an Exchange
Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Exchange now. Every exchange has a deposit form that is identical. Decred (DCR) is accessible on Binance, so we're going to use that as an illustration. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Just follow these easy steps)
Make sure you've chosen the exact coin you would like to deposit.
BTC must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, etcetera. If you're working with a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our guide).
Step 3 –
Locate Decred (DCR)
As soon as your deposit has been affirmed, you'll directly have access to your assets and you can start buying and trading. To purchase Decred (DCR) on Binance, you will want to hover over the ”Exchange” tab and after that click on “Basic”.
To locate Decred (DCR), you will need to put the shortname of the coin (DCR) into the search-box, which is highlighted in the graphic. Make sure you have selected the correct pairing, we have marked this too. Click on “DCR/BTC” to progress.
Step 4 –
Acquisition of Decred (DCR)
After you've found Decred (DCR), you'll be given a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the picture). Next we're going to create our own Limit Order.
The field with the “Price” tag will be filled automatically with the most recent rate Decred (DCR) was sold for. You can change this to your preferred rate. The field with the “Amount” tag is the volumen of DCR you like to purchase. The field with the “Total” tag is the whole price in Bitcoin that you'll settle for the complete quantity of DCR.
If you're satisfied, make a mouse click on “Buy DCR”. Your plan will be filled when a Seller trades their DCR for the price you introduced.
Step 5 –
Withdraw Decred (DCR)
Unless you are frequently trading, best advise is not to keep your crypto coins on an Exchange for an extended time frame. To withdraw your Decred (DCR), hover over the tab called “Funds” and mouse click on “Withdraw”. Decred (DCR) can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)
Locate Decred (DCR) by using the given drop-down box. Drop in the quantity of Decred (DCR) you'd wish to take off. Don't forget the displayed fees/minimums. Also make sure you have filled your right withdraw address.
If you're glad, click on “Submit”. You may be requested for verfication via email/phone ahead of a take off.