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How to buy, sell and trade Dentacoin
A beginner’s guide to buying, selling and storing Dentacoin in the US.
If you want to know how to buy or sell Dentacoin (DCN), the digital currency designed for the global dental industry, you’re in the right place. Keep reading for step-by-step instructions on how to buy and trade Dentacoin.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
Quick guide: How to buy Dentacoin in the US
Visit the Changelly website.
Select USD in the “You have” box and enter the amount you want to spend.
Select DCN in the “You get” box and click “Exchange!”
Register for a Changelly account.
Enable two-factor authentication.
Enter your DCN wallet address.
Review transaction details.
Click “Confirm and make payment.”
Click “Pay with Visa/Mastercard” and enter your phone number.
Enter your credit card details.
Wait for your phone to ring and then enter the four-digit code provided.
Obtain the three-digit transaction code from your credit card statement and enter it on Changelly.
There are two options to choose from when buying Dentacoin:
Buying DCN with fiat currency. You can purchase DCN with your credit or debit card through a crypto exchange that accept USD payments. Note that most major US banks have banned the purchase of cryptocurrencies with credit cards, but you may still be able to purchase using your debit card. Check with your bank to find out how you’re affected.
Buying DCN with another cryptocurrency. The second option is to acquire a cryptocurrency listed in a trading pair with DCN, such as bitcoin (BTC) or Ethereum (ETH), and then exchange it for Dentacoin.
Keep reading for step-by-step instructions on how to purchase Dentacoin using both of these methods.
Buying Dentacoin with fiat currency
Here’s an example of how you can buy DCN with fiat currency on Changelly:
The first thing you’ll need to do is visit the Changelly website and specify the details of your purchase.
On the Changelly homepage, select USD in the “You have” box on the left and select DCN in the “You get” box on the right. Type in the amount of USD you want to spend and click “Exchange!”
Next, enter your email address to sign up for a Changelly account, and remember to enable two-factor authentication before continuing.
You’ll then be given a chance to review the exchange rate and fee that will apply to your transaction. If you’re happy with the cost, click “Next.”
Copy and paste your Dentacoin wallet address in the field provided — this is where the DCN you purchase will be deposited once the transaction is finalized. You can find out more about how to choose a Dentacoin wallet below.
Click “Next” and review your updated transaction details before clicking on “Confirm and make payment.”
Click “Pay with Visa/Mastercard” and enter a valid phone number attached to your card. You can then type in the name on your card, card number, expiration date and CVC.
Click the “Pay” button and wait for your phone to ring. You’ll be provided with a four-digit code that you will need to enter on screen before clicking on “Next Step.”
You’ll then need to log in to your online banking account and find the three-digit code attached to this transaction on your recent purchases. Enter this code on the Changelly website to submit your purchase request.
As soon as Changelly receives your deposit, the exchange will be completed and the DCN you purchased will be sent to the recipient address you provided in step 3.
Transactions are usually completed within 5-30 minutes, but you can check the status of your exchange in the transaction history section of your account.
Buying Dentacoin with another cryptocurrency
If you want to exchange another digital currency for Dentacoin, here’s an example of how to do it:
Bitcoin is the digital currency that Dentacoin is most commonly traded against, so the first step is to acquire some bitcoin. You can find out how to do this in our How to buy BTC guide.
Dentacoin is only listed on a limited range of crypto exchanges, so compare the features those platforms offer before deciding which one you want to use.
If you decide to use Changelly, you can register for an account by entering your email address. Don’t forget to enable two-factor authentication before you start trading.
On the Changelly site, select BTC as the currency you want to exchange and DCN as the currency you want to buy. Specify the amount of BTC you want to spend and click “Exchange!” You can then double-check the amount of BTC you’re spending and the amount of DCN you’ll receive before clicking “Next.”
Specify the wallet address to which your Dentacoins will be sent and click “Next” again. You’ll then be presented with a wallet address and QR code that you can use to make a BTC deposit from your external wallet.
As soon as Changelly receives your deposit, the exchange will be completed and the DCN you purchase will be sent to the recipient address you provided in step 3.
Transactions are usually completed within 5-30 minutes, but you can check the status of your exchange in the transaction history section of your account.
Regardless of whether you’re using Changelly or any other platform, make sure you take a moment to review the transaction details before clicking “Buy DCN.”
How to sell Dentacoin
If you decide you want to sell your Dentacoin holdings, you’ll need to click through to the “Exchange” page and search for your desired trading pair just like you did in step 4. However, make sure you use the “Sell” box this time around when entering your transaction details.
Remember too that DCN is only listed in a small range of trading pairs, so you may not be able to directly trade your coins for the currency you want.
Which wallets can I use to hold Dentacoin?
Dentacoin’s DCN tokens are ERC20 tokens on the Ethereum blockchain. This is good news when you’re looking for somewhere to store your DCN, as there are plenty of ERC20-compliant wallets available.
Dentacoin lists a range of wallets that support DCN on its website. Some options you may want to consider include:
Jaxx (desktop, mobile and web browser extension wallet)
Your pearly whites may not be the first thing that comes to mind when you think of cryptocurrency, but maybe one day they will. Dentacoin is an Ethereum-based blockchain platform that wants to become “the blockchain solution for the global dentistry industry.”
The Dentacoin platform is designed to support the dental community by creating a range of tools devoted to improving the quality of dental care worldwide. People who use and implement these tools will receive Dentacoin tokens as a reward, which they can later use to pay for their dental treatment or to purchase dental products.
Dentacoin’s features will include:
Reviews. Using a cryptocurrency reward system, customers can be properly incentivized to leave honest, verified reviews of their dentists, while practitioners can have the quality of their work verifiably recognized.
Database. A centralized warehouse for people’s dental history.
Gamified mobile app. A system to help people engage with the Dentacoin app, play tooth-hygiene-related mobile games, improve dental care habits and reward people with DCN for doing the right thing.
DentaVox. A market research hub, where a machine learning algorithm identifies high-quality answers from participants and rewards them with DCN.
Dental insurance. Smart contract dental insurance policies negotiated directly between an individual and their dentist. These will be backed up by connection to the wider Dentacare network, ensuring it still holds its purpose in the event of a dentist’s insolvency, death or other “contract default.”
Trading platform. A complete dental trading platform, bringing together manufacturers, distributors, practitioners and patients.
What to consider before you buy Dentacoin
Before buying Dentacoin or any other digital currency, make sure you research how the coin works and what factors could potentially affect its price. Cryptocurrencies are volatile and also complex assets, so you need to carefully assess the risks involved before purchasing.
If you’re thinking of buying DCN, consider the following factors:
Supply. According to CoinMarketCap, at the time of writing (September 2018) the circulating supply of Dentacoin is 325,226,613,094 DCN, out of a total available supply of 1,963,173,416,170 DCN. Maximum supply is capped at 8,000,000,000,000.
Distribution. Approximately one-quarter of this maximum token supply was distributed in the project’s 2017 ICO and other presales. The remainder are held by timelock smart contracts for gradual distribution from 2018 to 2042. Inflation will be 1.9% in 2018 and will increase year on year to a peak of 9.5% in 2024, after which it will start decreasing again. From 2030 onward, it will sit at 1.9% a year.
White paper. If you want more info about what Dentacoin aims to achieve and the technology behind the platform, check out its white paper.
The battle for adoption. At time of writing (September 2018) there are more than 4,000 dentists in the Dentacoin ecosystem and dental practices, labs and shops in 16 countries that accept Dentacoin — a long way off global adoption, but it’s a start.
No dedicated competition. While there are other crypto projects focused on adoption across the healthcare industry, there are no other competitors specifically focused on dental care. That said, it’s up to you to decide whether there’s a real-world-use case for DCN tokens.
Considering these and other factors will help you make an informed decision about whether or not you should buy Dentacoin.
As of September 2018, there is no way to directly buy Dentacoin using cash in the US.
Possibly, but it’s unlikely. Dentacoin can be purchased with a credit card on the Changelly crypto exchange, but most major US banks have banned the purchase of cryptocurrency with credit cards. However, you may still be able to purchase Dentacoin with a debit card.
BC Bitcoin, a UK-based exchange, allows bank transfers and lists Dentacoin on its exchange.
There’s currently no way to directly buy Dentacoin with PayPal. However, you could use PayPal to buy bitcoin on a platform such as VirWox and then exchange your BTC for DCN on the crypto exchange of your choice.
Yes. If you want to buy Dentacoin anonymously, look for a platform that allows you to trade digital currencies without providing proof of ID.
Yes, you can. However, storing digital currency on an exchange is not recommended due to the risk of hacking and theft. Moving your coins to a secure wallet for which you control the private keys is widely considered to be a safer option.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
Disclosure: At time of writing the author holds ADA, ICX, IOTA and XLM.
Tim Falk is a freelance writer for Finder, writing across a diverse range of topics. Over the course of his 15-year writing career, Tim has reported on everything from travel and personal finance to pets and TV soap operas. When he’s not staring at his computer, you can usually find him exploring the great outdoors.
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