deCRED Coin (DCR): Everything You Need To Know

The urge to collect as many as cryptocurrencies continue well in 2018 and it will be even tenser in few coming years.

While if you are a fresher in a world of the crypto world then you must have probably heard of bitcoins. Right?

But you should be well aware of the fact that there are already 1000+ altcoins (alternative cryptocurrencies) other that bitcoins which may get unnoticed or undervalued sometimes.

Each crypto coin emerges or comes with the new technology to differentiate themselves from others that are already existing in some or other terms.

Every crypto coin is improvising themselves even now so that it can make their position in the competitive world. To maintain it’s position is not even easy though but they are yet working with their team members to provide their best services.

Also, this revolutionizing technology is so widely used all over the world.

And why not? They are safe and secure, they are cost-efficient, convenient and much more.

One such digital or cryptocurrency that exists is going by the name of deCRED coins (DCR).

Yes like every time and as mentioned in earlier posts we here at coinscage are here, with yet another cryptocurrency to guide you fully and review it for your convenience.

So let’s get started. Let’s start with reviewing what actually deCRED is and how does it work?

What is deCRED?

decred coin

It is an open system of cryptocurrency with a system of community – based governance integrated into its blockchain. It has provided a series of unique features and solutions with a strong focus on community input.

It uses a unique internal voting system for the addition of new features where users can vote for features and issues through bit flags.

It also uses a unique consensus system that is aiming to create a balance between Proof of Work miners and proof of Stake voters.

Moreover, it is one of that cryptocurrency that is already using Schnorr signatures that provide several advantages and benefits.

Now after you know about deCRED let’s see how it is used?

How deCRED works?

DeCRED uses several wallet apps for many platforms that enable sending, receiving, and mining deCRED with just a few clicks that are quite easy to use.

Also, payments are usually cleared within the time of 5 minutes with a free small fee and new coins can be mined via PoW (computing power) or PoS (simply by taking existing coins).

Moreover, buying deCRED is usually done through Binance or Bittrex by trading for bitcoin or via Changelly.

Now let us move ahead with some the deCRED facts for the clear understanding and better analyzing of it.

DeCRED coins:

  • It has 6 million tokens in supply out of which 5 million are already in circulation.
  • Most of its volume is available on Poloniex and Bittrex.
  • It is also available in changelly.
  • It is not available on Asian exchanges.

In addition to above facts, deCRED is able to maintain its position on 35 ranks in coin market cap with the current market price of $30.5 at the time of writing this article. It has the current market capitalization of around $184 million.

After knowing all this you must be thinking from where or how to buy DCR tokens? And as like every time we are here you to provide the guidelines to buy your deCRED tokens.

How to buy DeCRED(DCR)?

decred coinको लागि तस्बिर परिणाम

DeCRED is one of the most promising tokens available in the market. It has also shown a great deal of return to its users over the past few months.

Let’s get to the steps involved buying a deCRED token:

  1. Buy Bitcoin from Coinbase
  2. Send BTC to Bittrex or Cryptopia
  3. Trade BTC for DCR

You can also acquire your deCRED coins via changelly. Changelly allows you to directly convert one crypto to another by charging a small fee.

From Changelly:

One of the easiest ways to acquire your deCRED Coins is to exchange your Altcoins via Changelly. To buy your coin via changelly you need following things to be fulfilled.

Changelly helps you to instantly exchange your Altcoins to various cryptocurrencies including NEM. It currently supports around 55 crypto coins.

  • BTC/ETH/Altcoins to exchange it for deCRED coin.
  • Your deCRED address wallet where you want to receive your tokens.

You can also follow our Changelly guide to know all the steps in detail.

Now to store your tokens you need a wallet. Yes, deCRED has it deCRED web wallet in which you can store your tokens safe and secure

deCED web wallet:

decred wallet

Well its very easy to create your wallet. Go to the website and create one for yourself.

Your deCRED wallet would work like any banking system. You can view all your transaction details right there.

In addition, you can send coins, make transactions, secure your coin and much more.

Moreover, you don’t have to worry about the loss of your wallet because it can be easily recovered from the backup section which is such a great deal for every one of us

Now let’s head towards the idea behind deCRED and its history.

History:

DeCRED development was launched in 2014 and the currency was officially released in 2016. So the creation was not as long. The building of this crypto is present in near past.

On February 7th, 2016 the DeCRED main net binaries were released under v0.0.1. DeCRED v1.0.0 was released on April 25th, 2017.

After knowing its history do you want to know the team and community of deCRED? Okay.

Team and Community:

team and community animatedको लागि तस्बिर परिणाम

The deCRED project is regulated by its community constitution. Their community plays a vital role in a process of decision making regarding deCRED.

They work in both the formally and informally. Formally via blockchain and informally via the community forum. It has a centralized governance and a place to share their videos.

For extra information on Team and Community of deCRED, visit ther official page here.

Let’s see what are recent developments to meet by the end of 2018 they are working on to provide you more convenient services.

Developments:

Here ar esome of the recent developments that deCRED has been going through:

  • Improvements for wallets
  • Payment integration support
  • Improvement for the privacy of users
  • Lightning network support
  • Request for proposal purpose change

If the current development process would be met then surely deCRED would have a great future and it will be able to maintain its rank in coin market cap.

Future of deCRED:

If the successful implementation of the lightning network could meet it will increase its price significantly. If it will be able to maintain its scenario long term then it would be able to make its competition with Dash, Monero or Zcash.

Its needed to focus on being added as the payment method of business and marketing so it can be used widely and lead great future ahead.

Also, its price is regularly increasing resulting it to be around $100 from $25 within the short span of time.

Moreover, the total market cap is now $730million from $140 million in the last few months.

In conclusion, we can say that deCRED all together has a great future in the crypto market.

So what do you think about deCRED? Don’t forget to leave your opinion in a comment section below.

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Comment (1)

  1. Saurav Feb 03, 2018

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