This article discusses some of the ways a user can acquire Decred coins.
The four basic ways are:
- Purchase Decred for BTC Through an Exchange
- PoW Mine for Decred
- PoS Mine for Decred (this requires you to already have some Decred)
- Sell / Trade Goods or Services with someone who already has Decred.
One way to acquire Decred is to purchase some on an exchange.
Note: Due to Decred’s early stages of development and adoption, Bitcoin must be traded for Decred, fiat currency cannot be used. If you already have some Bitcoin, move ahead to the next section. If you do not have any Bitcoin, the procedure for obtaining some has been well documented in the Bitcoin wiki.
Since the release of Decred on February 8th, 2016, there are three currency exchanges where you can buy or sell Decred (as of February 2017). We hope this list will grow as time goes on.
You will need to create an account on one of these sites, send your Bitcoin to this new account, and submit an order for Decred at a price of your choosing. When your order is fulfilled, you will need to withdraw your new Decred and send it to your Decred wallet.
As Decred continues to grow in popularity, some exchanges are offering Decred directly for fiat currency.
Mine for Decred (PoW)¶
Proof-of-Work (PoW) is a measure of using computational power to create and verify the cryptographically secure blockchain. This is similar to traditional Bitcoin mining. PoW mining is described in more detail here.
Stake Mine for Decred / Proof-of-Stake (PoS)¶
Proof-of-Stake (PoS) mining is performed by stakeholders who lock a certain amount of their DCR in return for voting rights and a monetary reward. PoS mining is described in more detail here.
Sell / Trade Goods or Services for Decred¶
An alternative to obtaining Decred is to use your skills, knowledge, or experience by exchanging services for Decred as payment. Services can be anything that you are skilled at which are in need or requested by other members of the Decred community.