How and Where to Buy Secret (SCRT)
Tor Bair founded The Secret Foundation in 2017. He is an MIT alumni and entrepreneur who has advised multiple Fintech companies. Guy Zyskind is the company director, with more than 1,400 academic citations, and he worked at MIT Media Lab before joining the Secret Foundation. Zaki Manian is also a director. He was previously a director at Tendermint Labs and co-founder of Iqlusion.
The Secret Foundation aims to increase mainstream adoption of decentralized blockchain applications whilst maintaining privacy. In February 2022, the foundation received $400 million to the ecosystem fund, with several investment partners like Alameda Research, HashKey, DeFiance Capital and CoinFund.
What Is Secret (SCRT)?
Secret (SRCT) is a blockchain built on Cosmos that is privacy-orientated. Its “Secrets Contracts” enable DApps to use private data on the network. The smart contract is encrypted to guarantee privacy. It combines the key management and encryption protocols with a TEE (Trusted Execution Environment). Whatever the use case, user data is kept private with the Secret Contract.
“More Privacy. Limitless Possibilities. Secret Network is the first blockchain with customizable privacy. You get to choose what you share, with whom, and how. This protects users and empowers developers to build a better Web3.” – Secret website.
$SCRT is the native token on the Secret blockchain, used for governance and staking on the network.
What Makes Secret (SCRT) Unique?
Most blockchains cannot provide complete end-to-end encryption and privacy, exposing users’ sensitive data. Secret believes that the lack of data privacy is the reason for the lack of widespread adoption of the decentralized web. People don’t trust it to be safe.
On the Secret Network, users can choose what they share. Developers can build usable data privacy solutions and contribute to the increasing adoption of private, decentralized applications. Node operators on the Secret Network use unique hardware to run code in secure regions known as TEEs (Trusted Execution Environments). The TEEs ensure that nobody can access the decrypted information.
“Build the future with private data, on-chain. Use Secret’s private-by-default smart contracts to create trailblazing apps and drive the adoption of the decentralized web.” – Secret website.
The Secret Network enables: –
- Safe trading, spending, and saving – users have control over secure access to their assets with Apps and Secret tokens
- Complete creative control – users choose what content to reveal, with Secret NFTs controlling access, enabling content creators full rein to make entertainment or art not available on other networks
- Exploration and expansion of Web3 – functionality to build pioneering apps in multiple genres like gaming or finance
The potential use cases for Secret are infinite. For instance, digital content platforms can use the technology to assign a decryption key to content and only release the key after a user has paid for the content. On most traditional blockchains, such data is not private. Another use case is decentralized finance. Secret provides a “permissionless economic system” invaluable for financial opportunities in a secure and confidential environment.
How and Where to Buy Secret (SCRT)
Before investing in Secret (SCRT) tokens, you must first choose a reliable cryptocurrency exchange. Binance is a world leader in trading volume. It’s a user-friendly platform with over 390 coins and more than 1,650 trading markets. You can access an exchange wallet or download the Trust Wallet app to your mobile phone for trading and investing on the go: –
- Sign up on the Binance website for a registered account
- Upload the documentation requested for KYC
- Once your account is verified, you can deposit by wire transfer, Mastercard or Visa cards, or cryptocurrency
- On the “exchange” tab, choose a $SCRT pair: SCRT/BUSD, SCRT/USDT SCRT/BTC, SCRT/ETH
- Transfer the $SCRT tokens to your secure crypto wallet
How do I Sell Secret (SCRT)?
Selling your $SCRT tokens on the Binance exchange is easy, and you can do it on the Trust Wallet app if you prefer.
- On the “trade” tab, find $USDT and click on “sell”
- Sign up with an account with Coinbase or Gemini and then transfer the $USDT to the off-ramp platform
- Convert the $USDT to a fiat currency so you can transfer your $SCRT profits to your bank account
Should I Buy Secret (SCRT)?
We do not provide investment advice.
Choosing a cryptocurrency token for investment is a personal choice. Do your homework on the Secret project before purchasing $SCRT tokens. When you are ready, buy your coins from a reputable exchange like Binance, Gate.io or Huobi Global.
How do I invest in Secret (SCRT)? Safely?
It’s impossible to predict the outcome of any investment, and the cryptocurrency market is known for its volatility. Make sure you feel confident about how the crypto market works before investing in $SCRT tokens. If the crypto market has a bearish period, your investment may lose value, so a bit of understanding may help reduce your stress levels.
Always choose a cryptocurrency exchange with a good reputation like Binance. Other recommended platforms are Gate.io and Huobi Global.
Gate.io lists the $SCRT pairs SCRT/USDT and SCRT/ETH. The exchange has over 1,390 coins and 2,370 markets and offers users a cold storage wallet.
Established in 2013, Huobi Global offers a professional, downloadable wallet. The exchange has over 1,090 markets and more than 500 coins, and it lists SCRT/USDT.