If you have any interest to buy Decimal (DEL), you will be required to have either Bitcoin abbreviated as (BTC) or Ethereum (ETH) for trading purposes. I have reviewed the major cryptocurrency exchange Binance in this post to help you determine the best sites to buy cryptocurrency using a credit card or bank account. Take a read and get tips on the best cryptocurrency trading.
Step 1: How to create a Binance account:
1.1 Visit Binance’s Website (https://www.binance.com/en)
There have been several phishing cases reported over the past years that are imitations to the original site, it is essential to scrutinize the URL to the website keenly. First, be on the lookout for the ‘Secure’ certificate that should pop up in your address bar and that acts as a confirmation of the site’s genuineness. Second, to be extra safe while trading on the platform, ensure to bookmark the authentic site to evade any confusion in future searches.
1.2 Fill in your trading details
You have to fill in your details by going to the ‘’Register” tab found in the right-hand corner of the website’s page and fill in your trading details. For instance, you will need to fill in your mobile number or you choose to use your email address. For the email address, it is necessary to use your main email that you can access easily and the most secure one since you will need it to sign in to your Binance account always.
You also need to choose a strong password for your email; a strong password should comprise a mix of numbers, symbols, upper and lower-case letters. You will receive a 6-digit code via the email you provided as your account’s verification code and for completing the registration process.
1.3 Allow 2FA-Two-factor authentication (Optional)
To make your account more secure you need to allow use of a two-factor authentication after your first log in. Trust me; it is vital to set up the 2FA because it makes your account more secure from any hacking activity!
Every time you log in with the two-factor authentication, you will need to provide a unique code once your type in your email and password. To get your unique code, use the Google authenticator app downloaded into your smartphone.
Step 2: Buying your first Bitcoin (BTC)
To send money to your Crypto wallet account on Binance either directly via your bank account through SWIFT money transfer or you can opt to use your debit/credit card. For this part, I will guide you on how to use your credit card.
Binance previously didn’t allow the use of credit or debit cards on its platform, but the same has been introduced. Binance partnered with Simplex to allow its users to use their credit and debit cards to buy Bitcoin or Ethereum. This has led to faster Crypto transaction speeds, low transaction charges, and more transaction flexibility.
I highly recommend buying Bitcoin first and then trading it for the right amount of Decimal (DEL).
It is easy to purchase Bitcoins via your credit card but I will elaborate on best ways you can do it step-by-step to make sure you understand all the trading nitty-gritty.
- Move your mouse’s cursor to ‘Buy Crypto’ tab found on the top bar and activate the dropdown menu. Then choose the currency, For instance, US Dollars, and click the ‘Credit/Debit Card’ to lead you to the next step.
- You be led to the next page; in this page you will see options to choose the desired Bitcoin (Select BTC), and the amount you need to spend to buy your choice Bitcoin amount. The total amount you need to spend will be displayed according to the Bitcoin amount you request and the matching market price at that time (inclusive of all fees). However, you can choose to first set the total charge then the system will automatically calculate the order amount for you.
- Fill in your credit card details and personal information too. Once done, you need to click “Pay now” and give it a moment to verify your details.
- You will be required to verify your email and phone number if it happens to be your first simplex payment via a code send through your email or an SMS. Complete the verification process by opening the link in your email and type in the code you receive via SMS. Once you do all the above, you can click “Continue”.
- Verification of identity follows next via the use of an official document. Basically upload your identification document photo accompanied by your personal details and click the “Upload Document” tab.
Lastly, your personal document will be approved once verified by the system and an email send to show the confirmation of order purchase. Subsequently, your Binance account is credited with the purchased BTC or Ethereum.
Step 3: Transferring Your Cryptos to an Altcoin Exchange Huobi
Now let me show you how to Decimal (DEL) using your investment from Binance.
But not every crypto can be traded in Binance we need to transfer our coins to an exchange that Decimal (DEL) can be traded.
I will show you how to use Huobi which is a famous exchange to trade altcoins. We will use the link below to register your new account.
Once you have completed similar processes as you have done before with Binance you are ready to transfer our Bitcoins.
Step 4: Depositing BTC to Exchange
After you have created your trading account setup at one of the exchanges that trades Decimal (DEL), you will need to transfer your BTC from Binance to that specific exchange.
Usually done through a wallet system. to huobi deposit move your mouse over to “Balances” on the top right and click “Exchange Account”. Look for “BTC” from Token section and copy the given “Deposit Address”
To do this part may be a little difficult but don’t worry, it is easier than a bank transfer. Then copy your unique BTC wallet address and go back to Binance.
Then move your cursor to “Wallet” on the right hand side of the topbar and once the popup shows up, click on “Fiat and Spot (Deposit & Withdrawal)”. Look for BTC in the list and click on “Withdraw” on the right hand side.
You have to paste the deposit address you just copied from the other exchange and select BTC as the transfer network. Type down the amount that you want to withdraw (you may click the Max button if you want to withdraw all).
Next, click on the Submit button to begin with the withdrawal process. To proceed with the withdrawal, Binance may ask you for your 2FA code and also you will have to confirm the withdrawal with an e-mail.
That’s all, now you should wait for a while so that the blockchain to confirm your transaction.
Step 5: Trade Decimal (DEL)
Now you have to go back to Huobi to buy Decimal (DEL) with the Bitcoins you sent.
Move your mouse over “Spot Trading” and click “Exchange” then you will see trading menu. Look for huobi trade in the left column make sure to select “BTC” pair and in the search bar type in “DEL”.
After you move your coin click on it and now you will see a price chart of DEL/BTC in the middle of the page. Select the “Market” tab as that is the Easiest way of buying orders.
Also, you can either type in your amount or choose what portion of your BTC deposit you would like to spend on buying, by clicking on the percentage buttons.
Once you have confirmed everything, click “Buy DEL”. Now you own your DEL!
Other Exchanges to Buy Cryptos
The following are other sites you can buy from these exchanges:
HotBit (Which permits US investors)
MXC (This exchange allows US investors)
On top of the above-listed exchanges, there are some more common crypto exchanges where daily trading volumes and a huge user base is available. This helps to ensure that you can sell your coins any time you want and the charges for the trading are not high. It is recommended that you should also register on these exchanges because whenever Decimal gets listed there it give the traders who have already registered a large amount of trading volumes, that means you will be provided with some great trading opportunities!
Final Step: How to Store Decimal securely in hardware wallets
1. Ledger Nano S
- Easy to set up and has a friendly trading interface.
- Allows use on desktops and laptops
- Lightweight and Portable too
- Has been designed to Support most blockchains and a wide range of (ERC-20) tokens
- Has many trading languages.
- Designed by a well-established company found in 2014 with great chip security
- It is not expensive but can be acquired at affordable price
2. Ledger Nano X
- It made with a more advanced and secure element chip (ST33) than Ledger Nano S
- Has an easy design that allows the use on desktop or laptop, or even smartphone and tablet through Bluetooth connection.
- Also Lightweight and Portable and has a built-in rechargeable battery
- Has a Larger screen
- Comes with more storage space compared toLedger Nano S
- It supports most blockchains and wide range of (ERC-20) tokens
- Provides several languages for every customer
- It was designed by a famous company found in 2014 with great chip security
- Can be obtained at an affordable price
If you still have plans to stay at hodl” as some people call it, basically misspelt “hold” (which become famous as time passes) your Decimal for some long time, you need to find ways to ensure it stays safe safe,
However Binance is the most safe cryptocurrency exchange, in the past few years there have been hacking incidents and funds were lost. Because of the design of the wallets in exchanges, they will be accessible always via the internet (“Hot Wallets” as they are called), therefore exposing certain aspects of weaknesses.
Thus safeguard your cryptos by putting them in “Cold Wallets”, where the wallet will only have access to the blockchain(or simply “go online”) when you send out funds,. This reduces the chances of being hacked. For example, use a paper wallet which is a type of free cold wallet. It can also be defined as an offline-produced pair of public and private address and that you write on a paper for keeping safely with you. But, it is not permanent and may be faced by certain risk.
Thus, Hardware wallet is therefore the best compared to cold wallets. Since they are usually USB-enabled devices that can hold the key information of your wallet in the safest manner. Also they are designed using military-level security and their firmware’s are continuously upgraded by their manufacturers and this makes them extra safe to use. For example, Ledger Nano S and Ledger Nano X and are most common hardware wallets, you can buy one at $50 to $100 depending on the specifications they have. I highly recommend these for holding your assets because these wallets are a worthy every penny according to my experience and opinion.
Frequently Asked Questions
Is it possible to buy Decimal with cash?
The answer is No. Because there is no way you can directly buy Decimal with cash. But, using marketplaces such as LocalBitcoins to first buy Bitcoin, and completethe rest of the steps by transferring your bitcoin to respective AltCoin exchanges.
How do I Buy Bitcoin from local sellers?
You can go to LocalBitcoins that is a peer-to-peer Bitcoin exchange. It is more of a marketplace where users can buy and sell Bitcoins to and from each other. Users, known as traders, make advertisements to show their price and the payment method they want used. Then buyers buy from the traders to buy from sellers in a particular nearby region on the platform. LocalBitcoins is after all a good place to go to buy Bitcoins when it is impossible for you to find your favorite payment methods somewhere else. The site’s prices are high and you have you have to be extra careful to avoid conmen.
What are the quickest ways I can buy Decimal while living in Europe?
While in Europe you have the advantage of buying cryptos in an easy and quick way. Because Europe has even online banks which help buyers to simply open an account and transfer money to exchanges such as Coinbase and Coinmama. Such banks which are common as online banks in Europe are Bunq, N26 and Revolut.
Can I use alternative platforms to purchase Decimal or Bitcoin with credit cards?
Yes you can, you just need to visit Changelly which an easy to trade in site especially when it comes to buying Bitcoin with credit cards. It provides an automatic cryptocurrency exchange that gives a buyer the opportunity to exchange crypto fast and buy them using credit card. It has been designed to allow users to have easy crypto buying since it has a simple user interface and provides instructions that are easy to follow too.
DecimalChain is a blockchain and token constructor. The base cryptocurrency of the Decimal blockchain is DEL (decentralized cryptocurrency launched on August 1, 2020).
DEL is a peer-to-peer online currency. This means that all transactions occur directly between equal, independent members of the network and without the need for any intermediary to allow them or facilitate their use.
DEL is the key element of the ecosystem and the reserve currency, the native (basic) token of the Decimal blockchain, which, unlike bitcoin, does not require huge electricity costs and expensive equipment performing mathematical tasks. A new portion of DEL is generated on the Decimal network as a reward to specialized participants (validators) for the creation of the Decimal blockchain block, and the ownership of any coin of the network gives the opportunity make a profit. To do this, you need to bond your coins to any validator.
For their work, validators receive a reward, which is distributed among those who bonded their coins to them.
For the end user, DEL is not inferior to other cryptocurrencies or global payment systems (PayPal, Visa, MasterCard, and so on).
DecimalChain was created as a simple and user-optimized value exchange tool and an understandable designer of any tokens without technical skills with a focus on “private and private” #187; Internet users and entrepreneurs of different levels. To create your cryptocurrency on the Decimal blockchain you need literally five clicks. An unprepared user will succeed from the first time.
Who are the founders of DecimalChain?
DecimalChain was developed by the development teams of BitTeam and Crypton. Decimal blockchain is created on the basis of Cosmos SDK — a secure and reliable solution to organize network interaction between nodes and ensure a reliable consensus between the nodes involved in formation of network blocks. Thanks to the construction of Cosmos SDK, Decimal-Blockchain is compatible with all blockchains in Cosmos Network, where there are more than 130 projects now.
The DecimalChain team continuously makes improvements based on decentralized voting of network validators and adds new features.
What makes DecimalChain unique?
The unique advantage of DecimalChain is that it is a very simple constructor for creating any tokens (liquid, illiquid, stablecoin, NFT tokens).
Any user can create a token on the DecimalChain designer without technical skills and the need to download or install additional softs or programs. Any currency of the Decimal network available to the user can be used to translate their tokens.
Decimal uses such advanced developments in the blockchain industry as:
Tokenization of assets;
points in loyalty systems;
Identification of users;
confirmation of ownership rights and authenticity of documents;
tracking of goods through supply chains;
honest algorithms for the gambling industry;
automatic execution of contracts;
guarantee of payments of funds and safety of values;
ensuring access to different resources;
fair voting, lending, and so on.
Due to its innovative nature, DecimalChain creates a conceptual and technological framework that stimulates the model of cooperation through the possibility of interaction with many blockchain – networks and projects based on them.
Decimal blockchain has a large community of enthusiasts that consists of users and other products created by the BitTeam team.
Secure storage on a decentralized wallet. Access to coins is exclusively on the user side.
Ability to bond your DEL to validator and “mine” demanded cryptocurrency without the cost of equipment and maintenance of servers.
Transfers are carried out in six seconds.
Average shipping fee ~ 0.41 DEL.
Focus on easy, fast and inexpensive transfers, which ensures the stability of the DEL market price, and therefore wide application in traditional business.
DEL can be used as a reserve currency to create new coins. In turn, DEL provides the custom currency with all the advantages it has. Thanks to this, all Decimal blockchain coins can be exchanged in a couple of seconds at a fair market price calculated on the basis of formulas.
How much DEL is in circulation?
The total number of DEL is limited at 94 billion coins. Developers allow the possibility of increasing the total emission if the network validators vote in favor of this decision.
New coins appear during a process known as “mining”: as transactions are passed over the network, they are collected by validators and packed into blocks, which in turn, protected by complex cryptographic computing. DPOS consensus allows you to provide rapid verification of transactions by a set of specialized participants of the network — validators. At the same time, the latter operate within the framework of a strict system of fines and rewards with coins of the network.
At the time of DecimalChain launch, the reward of validators for the created unit was 50 DEL – this number grows every 432 thousand blocks per five DEL. As of March 3, 2021, the reward for the block is 85 DEL.
Increasing the reward for the block is also a feature of the blockchain, which allows you to attract validators at any stage of network development.
The issuance is for nine years — after that (in the tenth year), the payment of the basic rewards for the block will cease completely. Only the total fee of all transactions in the block will remain.
When the network is launched, a DEL premine will be produced in the genesis block, which will amount to 200 million DEL. At the same time, each of the four starting validators will receive 40 million DEL (in the amount of 160 million DEL). The remaining 40 million DEL will be put up for sale and implemented to the project’s investors.
How is Decimal’s network protected?
DecimalChain is protected by SHA-256, belonging to the SHA-2 family of hashing algorithms, which is also used by the first Bitcoin cryptocurrency, its forks and many other cryptocurrencies.
Each masternode (validator) works under strict conditions of punishments and rewards. If in the case of bitcoin miners receive reward for the spending electricity in the form of new coins, then in this example, incorrect operation of masternods is punishable by system fines. For example, the unavailability of the validator for 12 blocks of the last 24 is punishable by 1% of the total amount of the validator steak. And the total amount of steak includes all funds delegated to this validator.
Validators who attempt fraud in the consensus-building process are also punished with a fine. In this case, the validator would be punished with a 5 percent penalty from the combined with the steak delegates. Consequently, the more funds delegated to the validator, the higher the cost of attacking the network.