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Tuesday, October 4, 2022

How to Exchange Litecoin to Decred

Hi guys and welcome to the simple swap cryptocurrency exchange! In this video, we will guide you on how to buy Decred in just a few simple steps using our platform. So let’s roll! First of all, let’s take a closer look at Decred. Decred was created in February 2016 with the idea to provide an alternative to Bitcoin. 

The developer’s goal was to create a structure where anyone in the community could own and operate the system, make the rules, and determine the direction of the project. So Decred is a community-driven cryptocurrency designed to deliver a truly decentralized, fair, and sovereign alternative to traditional money.

It utilises a hybrid Proof-of-Work and Proof-of-Stake mining system to ensure that a small group can not dominate the flow of transactions or make changes to Decred without the input of the community. Sounds cool, right? Decred is definitely worth your attention. 

Ready to get some DCR?Start with selecting the coin that you want to exchange in the You send section using the drop-down list. You can also use the search bar: just start typing the name of the cryptocurrency or its ticker. Next, enter the amount you would like to exchange. Now select Decred in the You get section. You can also use the search bar. 

After that, you will see the estimated amount of DCR you will receive. Please note that there is a minimum amount for every exchange. Do not send an amount less than the minimum one. Then you need to enter the Recipient’s DecredAddress.

Be extremely careful and double-check your Decred address. Your DCR coins will be sent to this address right after the exchange. Alright, now all the necessary details for the exchange are entered. Once again, make sure that all the data is correct. 

If everything is ok, click the Exchange button, and you will be forwarded to the exchange page. At this stage, the status of your exchange is”Waiting”. Here you will see the address to send the indicated amount of Litecointo continues the exchange. You can use the QR code to speed things up. 

After we have received the deposit to our address and the transaction has the required amount of confirmations – the status will be indicated as “Exchanging”, which means that your exchange is in progress. 

While our system is sending you Decred, the status changes to “Sending”, and you will only have to wait for a little for the coins to reach your address. Now that’s it! Your exchange is completed and you can see the indicated status as Finished.

In most cases, the exchange process usually takes up to 30 minutes. See how simple it is? In case you have any questions left feel free to ask us in the comments below or contact our friendly support team using e-mail which you can find under this video. 

Thank you for watching our video and don’t forget to subscribe and hit the notification bell if you want to see more videos from SimpleSwap.

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