In this guide you’ll get information about where to buy Secret coin, if you are planning to buy SCRT – You’re in the right place!
Secret is basically the native token of Secret Network, which is the decentralized platform for secure and private computation. Secret Network is a blockchain focusing on private smart contracts. When apps built on this platform, they will utilize encrypted data in the most confidential manner possible. It won’t be exposed to anyone – not even the network’s nodes. Although the platform is focusing for developers, it is also open for individual users. Developers are empowered and encouraged to construct permissionless, privacy-preserving, and decentralized applications.
However, this network also offers flexible arrangement. All data would be private by default. However, when needed, it can be transparent – of course, the data owners must approve. The main idea of this platform’s creation isn’t only about transactional privacy, but also computational privacy. Developers are welcomed to build their Secret Apps within the network as their privacy won’t be compromised. After all, such privacy is critical for many things, such as machine learning, decentralized finance, access control, Web3, and so much more.
Table of Contents
Secret (SCRT) Features
- Secret Contracts. Secret Contracts are the smart contracts with privacy preserving nature built within this network. They are unique because not only they are automatic and self-executing, but they can also solve correctness issue.
- Secret Apps. They utilize Secret Contract’s capability to allow unique case usages that will empower users and increase growth’s opportunities at the same time.
- SCRT token. This ERC-20 standard token is used to pay Secret Contracts. The holder would be given access to Viewing Key. This can be given to the third parties in order to prove ownership (of the secret tokens when needed).
- Secret Ethereum Bridge. It is an asset wrapping protocol in two-way mechanism – almost the same as Ren. Users will have to lock tokens (on a blockchain) so they can mint the equivalent amount within other blockchain.
Where to Buy, Sell and Trade Secret aka SCRT
You can basically use debit card, credit card, or even PayPal to buy the Secret (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Secret as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to Secret. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum or Bitcoin
- Find a crypto exchange that supports Secret currency and exchange your Ethereum or Bitcoin with the Secret
- Store your Secret to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) at Coinbase
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
Get $10 Bonus when you sign up for Coinbase!
- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying Secret, once you get your Bitcoin or Ethereum, you can continue to the next step.
Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH with Secret:
IMPORTANT! Once you are registered to any of the above, find the BTC/SCRT or ETH/SCRT trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum.
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your Secret (SCRT) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy Secret (SCRT) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Secret. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Secret (SCRT) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy Secret (SCRT) with Skrill?
You can’t buy SCRT directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Secret. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Secret (SCRT) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/SCRT and begin the transactions.
Can I Buy Secret (SCRT) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/SCRT trading pair.
What Is the Best Payment Method to Buy Secret (SCRT)?
The cheapest way is to use bank account to buy Bitcoins first or to buy the Secret right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Secret (SCRT)?
Once you have purchased the Secret, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Secret (SCRT)?
Find a crypto exchange which allow pairing SCRT with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Secret (SCRT) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a Secret is to buy it from a reliable exchange.
Those wanting to reap the benefits of privacy and anonymous nature will love the concept presented by Secret Network. It basically combines all the best technologies and also features of open source and decentralized networks with the main focus on data privacy and better usability. Such a thing is crucial for better and more favorable mass adoption. However, interested users need to remember that they must buy Secret (SCRT) to gain access to the platform.