How can DCRDEX access fiat on and off ramps?
Decred is moving into an era where it no longer has to rely on centralised exchange listings to transact or exist! Peer to peer exchange is the now (P2PFi)
This is all pretty basic stuff for people that have been here for a while, but it still surprises me how many people don't realise how easy it is to move between exchanges.
Decred isn’t listed on enough exchanges
One thing I hear frequently from community members and people doing their Decred research is, “Decred isn’t listed on enough exchanges” or “Decred doesn’t have enough fiat on and off ramps”. In turn, this leads to other speculation about liquidity. But as you’ll see Decred is actually in a unique and positive position for the opposite reason.
In the above video, I’m going to demonstrate that Decred doesn’t need centralised exchange listings. All we require, are the currencies that have access to centralised exchanges and their fiat pairs. At this time, Bitcoin BTC is listed on pretty much all exchanges and has the highest fiat liquidity. Next is Litecoin LTC, which has the added benefit of being cheap to transact with on-chain. You can also use stable coins like Tether USDT and USDC, but personally, I’m yet to be convinced of their usefulness.
In the example, I’m going to demonstrate how to move your Bitcoin BTC from your DCRDEX wallet to your Coinbase BTC wallet. And then follow this up with the options for changing your BTC into a fiat currency of your choice.
Comments ()