"Peaceful transfer of power is one of the hallmarks of our democracy": Obama

President Barack Obama has said that he will ensure a smooth transition of power despite significant differences between him and his newly-elected successor Donald Trump.

"It is no secret that the president-elect and I have some pretty significant differences. But remember that eight years ago, President Bush and I had some pretty significant differences. (But) the presidency and vice presidency is bigger than any of us," he said addressing the media after Trump won the US Presidential race.

"We are now all rooting for his success in uniting and leading this country. The peaceful transfer of power is one of the hallmarks of our democracy," he added

Showing admiration for Democrat Hillary Clinton who suffered a painful defeat, Obama said, "I could not be prouder of her... I am proud of her. A lot of Americans look up to her... Her candidacy and nomination was historic."

"Everybody is sad when their side loses their election. But the day after, we have to remember that we're actually all on the same team.... we're patriots first," he said, adding, "That's what I heard when I spoke to [Trump] directly, and I was heartened by that. That's what our country needs. ... I hope that he maintains that spirit throughout this transition and I certainly hope that's how his presidency has a chance to begin."

The President said, "To the young people who got into politics for the first time and may be discouraged by the results, I want you to know, you have to stay encouraged... don't get cynical. Fighting for what is right is important."

Obama added that he is going to do everything he can to hand off smoothly to Trump saying it's a relay race.

"Ultimately, we're all on the same team," he said.