Decentralised Credit, also known as Decred, is a cryptocurrency project that aims to resolve some serious issues that have been identified in Bitcoin’s governance as well as consensus mechanism, and mining/development centralisation.
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Choose your quick section of our Decred review below.
A Quick Overview of our Decred Review:
Decred is an autonomous cryptocurrency which has often been referred to as Bitcoin with governance.
Decred Live Price
What is Decred?
Decentralised Credit, also known as Decred, is a cryptocurrency project that aims to resolve some serious issues that have been identified in Bitcoin’s governance as well as consensus mechanism, and mining/development centralisation.
Key Features and Takeaways of Decred
Decred is one of the top cryptocurrency projects that has stood the test of time and has the following key features and takeaways:
Decred is an autonomous cryptocurrency which has often been referred to as Bitcoin with governance.
The Decred project uses the Lightning Network, which is a development of the platform Politeia. It is a recent integration of privacy technologies like that used in Monero, making Decred a serious candidate to become the top cryptocurrency in the world.
Decred aims to become the alternative to Bitcoin as a store of value.
DCR, the native token of Decred, is used within the ecosystem for voting as well as staking and the powering of platforms such as the decentralise exchange (DEX) of Decred, which is still being developed.
Decred was established on solid principles surrounding free as well as open software, free speech and consideration, multi-stakeholder inclusion, incremental privacy as well as security, fixed finite supply of DCR, and universal fungibility.
Decred uses a hybrid Proof of Work (PoW) as well as Proof of Stake (PoS) to ensure consensus is achieved on the blockchain.
With PoW, transactions are added onto blocks that must be solved by miners using computational power, with only validated and verified blocks being added to the blockchain.
PoS involves users staking a certain amount of cryptocurrency, giving them the chance of producing a block.
Decred blends PoW and PoS together by taking the classic PoW and adding five validators who have staked DCR, allowing them to check the work of the miner. If there are 3 out of 5 validators who vote that the work is correct, the block is added onto the Decred blockchain.
The block reward is divided between the miners and validators according to a 60/30 ratio, and the remaining 10% is given to fund development proposals for Decred which is held in Politeia.
Decred Mining
PoS and Staking
The consensus mechanism that Decred uses is unique when comparing it to that of other cryptocurrencies. DCR cannot be staked directly and instead, DCR is used to purchase tickets that can be used for staking.
Decred is designed in a specific way with the likelihood of receiving a staking reward increasing over time. It starts from close to 0% within the first few days, increasing to 50% after 28 days, and eventually it reaches 99.5% after 160 days.
Each ticket’s price will vary depending on the demand and ticket prices change after every 12 hours. At the time of writing, the price of a DCR ticket is 194.11 DCR, which is 2 347 ZAR. Ticket prices, along with other information, can be explored on the Decred Block Explorer.
Staking rewards will also change over time along with the PoW reward, which is currently on 7.64 DCR at a mining difficulty of 17 254 Mil.
Users can stake DCR in two different ways; they can either be a Solo Voter, requiring some technical knowledge and a consistent internet connection, or users can opt to use a Voting Service Provider instead, which is another term for a staking pool.
Users who choose to use a VPS do not require any technical knowledge or a consistent internet connection. VPS can be accessed at any time through the native Decrediton desktop wallet.
At the time of writing, there is a total of 7 486 206 staked DCR.
PoW and Mining
Decred mining works the same way that Bitcoin does, with miners committing their computational resources to process network transactions in exchange for a DCR reward. DCR can either be mined solo or users can join a mining pool.
Solo mining, however, is not recommended, as it tends to cost miners more to obtain equipment and pay electricity bills than the DCR that they can earn. However, miners who use DCR ASIC equipment have the change to become profitable with DCR mining.
Users who are interested in mining DCR solo can use Gominer, which is the official software for Decred. Users who cannot afford to mine solo can join a DCR mining pool, which will combine the resources of the users with other miners.
Some of the best Decred mining pools are BeePool and F2Pool, amidst several others.
Pros and Cons
| ✔️Pros | ❌Cons |
|---|---|
| Decred is a fully decentralised platform based on blockchain technology | There are few merchants who accept DCR |
| Decred guarantees low transaction fees | Tokens cannot be bought with fiat currencies |
| Users can opt for a web wallet, or they can choose to download the wallet and install it | |
| Users can customise the signature algorithm |
Transaction Fees
| Type of Fee | Information |
|---|---|
| DCR Ticket | 194.11 DCR or 2 347 ZAR |
| Withdrawal Fees | 0.02 DCR |
Should you buy Decred?
Decred has experienced months of rapid growth followed by slow growth, especially in 2025. However, despite these fluctuations, DCR has shown an astronomical price increase in recent months, and it has managed to stay there.
DCR is considered a good investment by many analysts, depending on the risk profile and tolerance of the individual investor.
How to buy Decred (DCR)
Step 1 – Register an account with Gate.io
Navigate to the official Gate.io website and select the option to “Sign Up” from the homepage.
Complete the online registration form by providing country/region, a selected username, email address, and user-selected password. Read and accept the User Agreement and Privacy and select “Next”.
Create a fund password and select “Create Account”. Complete the “I am not a robot” reCAPTCHA. Check your email inbox for the activation email and click on the link in the email. If the link does not work, you can copy and paste the URL into your browser.
Log into your account using your credentials and complete the reCAPTCHA.
Check your email again for the verification email that contains the 6-digit code and click on “Confirm”. Enter the code that you received into the blocks provided and select “Log In” to proceed.
Before you can use the platform to purchase Decred/DCR and other cryptocurrencies on Gate.io, you must complete the “Know Your Client” or KYC procedure to verify your identity and your proof of residence.
Click on “KYC Now” at the bottom of the webpage to start the process.
Select whether you are an individual or an organisation by selecting “Verify Now” under the relevant option.
Select your country from the dropdown list, enter your full name followed by confirmation thereof. Select your ID document type and provide your ID Number as shown on your official ID Document.
Click on the first image to upload a clear photo of the front of your ID document followed by a clear photo of the back of the document.
Next, write your Gate.io unique ID on a piece of paper and take a photo of yourself holding up your identity document (front) and the paper containing your unique ID.
Once you have done this, click on “Confirm and Submit”.
Next, you must enable the Timed One-Time Password (TOTP) to be able to log into your account. This can be done by clicking on “Set Now” at the bottom of the page.
On the new page that loads, select “Click here” to set up Two-factor Authentication.
Download Google Authenticator onto your mobile device by making use of any of the abovementioned methods.
Follow the steps indicated to add your Gate.io account by scanning the QR code or entering your unique key.
Enter the TOTP, your fund password, and the code sent to your email address and select “Enable Two-factor Authentication”. With this setup, you must use the Google Authenticator app to sign into your account every time.
Step 2 – Deposit funds
You must note that Gate.io is only a crypto-to-crypto exchange which means there is no fiat gateway. The only way through which funds can be added, is to transfer an existing crypto into your Gate.io wallet.
DCR can only be bought through Tether/USDT or Bitcoin/BTC while it can be traded with USD as a futures contract.
Navigate to the deposit/withdrawal section by hovering over your account and selecting the relevant option. Choose from the list of coins in which you can make a deposit and select “deposit” next to the appropriate coin.
You will be redirected to a page which generates a deposit address for the coin that you wish to deposit.
Copy this address, or scan the QR code, into the wallet where you are making a withdrawal from and depositing to Gate.io and wait for the relevant blockchain to confirm your transaction. Once the transaction has been completed and verified by the nodes on the chain, the coins will be sent to the Gate.io wallet and you can start trading DCR.
Step 3 – Explore your trading options
Gate.io offers a variety of ways through which cryptocurrencies can be obtained. Each of these can be explored individually depending on your trading needs and objectives.
To start trading DCR, select the option from the “Trade” Menu. Enter “DCR” into the search bar to see which trading options are available.
For spot trading, for instance and as an example, select DCR_USDT or DCR_BTC. Once you have selected, you will be directed to the exchange page which corresponds to the cryptocurrency pair DCR/USDT or DCR/BTC.
Here, you will see that you have the option to buy or sell DCR either as a limit order, grid trading, or as a time condition. The most common trading method is that of limit trading and thus it will be used for this guide.
Step 3 – Buy DCR through via Limit Order
To buy DCR and create a limit order for it, you can enter the amount of DCR you want to purchase, and the price you want to buy it at in USDT. This tool will tell you what the overall cost is in USDT, or any other chosen counter-currency, which will be deducted from your wallet once the order has been executed.
Step 4 – Sell DCR through via Limit Order
To sell DCR, find the panel under the chart and create a limit order for USDT according to your own preferences. Note that with a peg to USD, DCR that you exchange for USDT will hold the flat value that it has despite market conditions in the cryptocurrency market.
Step 5 – Withdraw funds
To withdraw funds, you will use the same page in Gate.io which was used to make a deposit.
Click on the deposit/withdrawal option on your Account dropdown and find the wallet of the currency that you wish to withdraw. You can do this easily by using the search bar provided.
Instead of a deposit address being generated, you will do this on the exchange, or the wallet being used as the destination for withdrawal of funds from Gate.io. Paste the address of the receiving wallet in the field provided and provide your Gate.io fund password, email code, and TOTP before selecting “Submit Request”.
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Frequently Asked Questions
When was Decred first launched?
Decred was launched in 2016.
Who founded Decred?
Decred was founded by Jake Yocom-Piatt.
What is “ICO”?
It is Initial Coin Offering that, unlike an IPO, does not mean that those who invest in the cryptocurrency will have an ownership stake of the company that they provide funds to.
When was Decred’s ICO and how much did it raise?
Decred did not have an ICO. Instead of an ICO, there was 8% of the total supply of 21 million DCR which was pre-mined and distributed in 2016. Another 4% of the supply was given to developers and another 4% was airdropped to nearly 3 000 early supporters of the project.
Is Decred legit?
Yes, Decred is legit.
What is Decred’s total supply?
There is a fixed supply of 21 million DCR.
What is the purpose of Decred?
To develop cryptocurrency technology that is fair and equal for all users, bound by a set of rules that consists of guiding principles, a system of governance, and self-funding mechanisms.
On which blockchain is Decred based?
Decred is based on its own blockchain.
Does Decred work with smart contracts?
Yes, Decred supports smart contracts.
Does Decred have potential to become more valuable?
Yes, Decred has potential to become more valuable.
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