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How to buy Secret (SCRT) in the US
A beginner's guide to buying and selling SCRT in the US.
How to buy Secret
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Secret.
- Open an account on an exchange that supports SCRT.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Secret.
- Buy Secret.
Complete your Secret purchase and then find the best wallet to store SCRT.
What is Secret?
SCRT is the native token of the Secret Network, which was previously known as Enigma – launched in 2014 as a layer-2 DeFi protocol for Ethereum, which added privacy to smart contracts. Enigma rebranded itself in February 2020 as Secret Network after a community work and partly because of bad press for SEC charges over their 2017 ICO. Secret Network is the first-of-its-kind blockchain to offer completely encrypted smart contracts. Transactions made on the network cannot even be viewed by the nodes running the blockchain. Its main objective is to provide a balance of transparency and privacy in order to secure and scale the decentralized web. It can process approximately 10,000 transactions per second and has a block time of 6-7 seconds. However, unlike the network, the native coin SCRT is not a privacy coin, and all transactions made with SCRT are publicly viewable. It is used to pay fees and to transact on the network and is essential to run secret contracts.
Secret (SCRT) is the 128th largest cryptocurrency in the world by market cap, valued at $715,664,109. The current price of Secret is $4.79, which is -2.075% lower than yesterday. Prices have ranged between $5.04 and $4.78 over the past 24 hours. All prices are listed in US dollars and accurate as of October 17, 2021 09:10 UTC.
Where to buy Secret
Unfortunately, at this time no major exchanges in the United States offer this coin. However, you may be able to purchase it with another cryptocurrency, just be sure you're following all legal restrictions and requirements.
Consider buying a different cryptocurrency after comparing popular exchanges.
Is it a good time to buy Secret?
The technical analysis gauge for Secret displays real-time ratings for the timeframes you select. This is not a recommendation to buy, sell or trade. It represents a technical analysis of Secret based on the most popular technical indicators: Moving Averages, Oscillators and Pivots. Finder might not concur and takes no responsibility.
This chart is not advice or a guarantee of success. Rather, it gauges the real-time recommendations of three popular technical indicators based on the performance of Secret: moving averages, oscillators and pivots. Finder is not responsible for how SCRT performs.
Secret at a glance
|Total SCRT supply||190,198,234|
|All time high||US$6.88|
|Notable team members||Can Kisagun, Guy Zyskind, Tor Bair|
|Partnerships||TrustToken, Band Protocol|
|Token uses||Staking, governance, platform fees|
Secret price performance over time
How to sell Secret
You can cash out your SCRT with the same exchange you bought it through:
- Sign in to the exchange you have SCRT on.
If you store your Secret in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of SCRT you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Secret.
What to consider when buying SecretBelow are the aspects you should consider before buying SCRT:
- Supply: Currently, there is a cap on the supply of SCRT at 150 million. Initially, holders of ENG, Enigma’s ERC-20 tokens, were able to mint SCRT by sending their ENG holdings to a burn contract. Only 62 million ENG have been burned so far, and there is a circulating supply of close to 69 million as of the date of writing, May 2, 2021. If more than 67% of the token supply is staked, the rate of new issuance will begin to fall and bottom out at 7%.
- Governance: SCRT, being the native token of the network, gives token holders the right to vote and propose changes on the network, making it a community-driven project, allowing for decentralized control of the network. 1,000 SCRT must be deposited as a bond for a governance proposal to be voted upon.
- Staking: There are two ways of staking on the network: as a delegator and as a validator.
- Validators only need to stake 1SCRT token to participate, and currently there is a limit of 50 validators on the network. The more you stake on the network, the better the chances of you ranking among the top 50 to become a validator. Delegators only need to stake 1SCRT to participate and can move their stake freely to another validator at any time. They can earn rewards and a share of fees by supporting a set of validators. However, if the validator you delegate to is offline for over 4+ hours (considering 6s block time), you risk a chance of losing 0.01% of the tokens already delegated to the validator. If the validator signs the same block twice with the same key, you end up losing 5% of the token delegated to the validator.
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Disclaimer: Cryptocurrencies, including Secret, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of SCRT 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 Secret or any other cryptocurrency discussed.
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