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How to buy Decred (DCR) in Australia

Learn how to buy Decred (DCR) on 17+ crypto exchanges in our step-by-step guide.

Decred (DCR) is the 222nd largest cryptocurrency by market cap, valued at US$293,429,359.

Decred is a highly volatile asset capable of major price swings in a single day. Today DCR is trading for $18.2 USD, which is higher than yesterday's trading price of $18.12 USD. Over the past year, Decred's price has seen an increase of 31%.

So before you buy Decred, make sure you understand these unique risks as well as its legal and tax status here in Australia.

If you're ready to get started, read on for step-by-step instructions on how you can use to buy Decred.

This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.

How to buy Decred in 5 steps

The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.

  1. Compare crypto exchanges
    The easiest way to buy Decred is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
  2. Create an account
    To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
  3. Make a deposit
    Once verified, you can deposit AUD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
  4. Buy Decred
    You can now exchange your funds for Decred. On beginner-friendly exchanges, this is as simple as entering the AUD or DCR amount you want to purchase and clicking "buy".
  5. Secure your Decred
    Consider transferring your DCR to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.

Where to buy Decred in Australia

Find an exchange to buy, sell and trade DCR by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.

1 - 5 of 13
Name Product Deposit methods Fiat currencies Cryptocurrencies Offer Disclaimer Link
Finder AwardExclusive
EXCLUSIVE
Coinstash
Bank transfer, Cryptocurrency, Osko, PayID

1

845

Finder exclusive: Get up to $200 BTC when you sign up and trade certain amounts. T&Cs apply.
Go to site

Capital at risk

View details
Exclusive
EXCLUSIVE
CoinSpot
Bank transfer, Credit card, Cryptocurrency, Debit card, PayID

1

447

Get $20 in BTC when you make a deposit. T&Cs apply.
Go to site

Capital at risk

View details
Finder AwardExclusive
EXCLUSIVE
Swyftx
Bank transfer, Credit card, Cryptocurrency, Debit card, PayID

3

371

Get $20 in BTC when you verify your account. T&Cs apply.
Go to site

Capital at risk

View details
Exclusive
EXCLUSIVE
Digital Surge Cryptocurrency Exchange
Bank transfer, Cryptocurrency, Osko, PayID

1

372

Receive $10 BTC on sign-up and verification. T&Cs apply.
Go to site

Capital at risk

View details
OFFER
Binance Australia
Credit card, Cryptocurrency, Debit card, P2P

80

386

Earn up to US$100 in rewards by completing welcome tasks within 7 days of signup. T&Cs apply.
Go to site

Capital at risk

View details
Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
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How we keep this Decred guide up-to-date

  • DCR price data is regularly updated through data feeds so you always have the latest information.

What is Decred?

Decred is a community-focused cryptocurrency that operates a hybrid proof-of-stake/proof-of-work consensus mechanism. Decred intends to address the scalability and governance issues that plague legacy cryptocurrencies by running a fully decentralised development process. It aims to create a blockchain that can be efficiently upgraded in line with its community needs to avoid messy hard forks.

Other than true decentralisation, Decred also lets its users join mining pools with a relatively low barrier to entry. They can join a proof-of-work pool in order to be given mining tokens relative to the hashing power they contribute to mining each block, or a proof-of-stake pool to help amplify their current DCR stake.

DCR is the native token of the Decred network and is the foundation for the protocol's economic and governance systems. Users can stake their DCR coins to participate in proposals and earn voting rights. Staked and mined DCR tokens are also used to validate transactions on the network.

How do I find the best places to buy Decred?

Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Australia to help you choose the one that's right for you.

Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.

What will I need to buy Decred?

To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.

An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Decred.

  • This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
  • Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing DCR with your local currency then you will need to pass KYC.
  • Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.

What are the best ways to buy Decred?

Once you've created an account, you will need to deposit funds to buy DCR with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy DCR:

  • Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
  • Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
  • Cryptocurrency: You can usually purchase DCR by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for DCR on the spot market to see what cryptocurrencies it can be traded for.

What is the easiest way to buy Decred?

The easiest way to buy DCR is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.

Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.

Before buying DCR, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of Decred has been performing recently.

Best Decred wallets to store your DCR

You can keep your DCR on the exchange you purchased it on, or move it to a personal wallet:

  • Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
  • Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your DCR below.

Ledger Nano X Wallet

Trezor Model T Wallet

Go to site
Go to site

Supported assets

5,500+

Supported assets

9,000+

Price (USD)

$149

Price (USD)

$179

Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Is Decred a good investment?

Before buying any cryptocurrency, there's a number of risk factors that must be considered:

  • Decentralisation. True decentralisation without hurting functionality is one of the trickier challenges for cryptocurrencies to overcome. In the long run, a lack of community support for developer changes and 'executive decisions' by a relatively small group of people can be a coin's undoing.
  • Development. Because Decred is entirely community-driven, it can draw on a much wider pool of developers (and pay them for their work) than a less democratic cryptocurrency. All the code used is open source, and experienced users will actually need to carefully look at, and install, changes before the network can upgrade to them.
  • Governance. The governance system of Decred differs from many other proof-of-stake protocols. Where other PoS networks offer voting power based on an individual's stake in the network, Decred stakers can purchase 'tickets' which are then distributed pseudo-randomly.
  • Competition. Decred is quite similar to Bitcoin from a technological framework perspective. Although it aims to solve a lot of the issues with decentralisation and the governance of Bitcoin, BTC is a more popular token with much greater public interest.

Today's Decred price versus ATH

Compare today's price of Decred ($18.2 USD) against its all-time-high price of $247.35 USD on 17 April 2021. The closer the bar is to 100%, the closer DCR is to reaching its ATH again.

Decred's price: $18.2 USD
ATH date: April 17, 2021
7.36%

Decred ATH: $247.35 USD


How to trade, convert or sell Decred

You can convert or sell your DCR with the same exchange you bought it through:
  1. Sign in to the exchange you have DCR on.
  2. If you store your Decred in a digital wallet, compare crypto exchanges to convert or sell it on.
  3. Choose Sell or Convert and place a sell order.
  4. Choose the amount of DCR you'd like to convert or sell.
  5. Confirm the sell price and fees and close your sale of Decred.
  6. Complete your transaction and move your DCR to a crypto wallet for storage.

How to buy other cryptos


Disclaimer: Cryptocurrencies, including Decred, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of DCR is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Decred or any other cryptocurrency discussed.

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