How to Buy SCRT Using Coinbase, the Osmosis DEX, and ATOM
SCRT is the native token of the Secret Network—the first blockchain with data privacy by default.
If you’re based in the USA, Kraken and Okcoin are currently the only centralized exchanges (CEXes) where you can buy SCRT. However—there’s another way 👀
In this article, we’ll show you step-by-step how to get SCRT through the Osmosis DEX, the biggest DEX in the Cosmos ecosystem. We’ll use Coinbase as an on-ramp in this example, but you can use these steps with your preferred CEX (Binance, FTX, Crypto.com, etc).
🎬 Prefer video? Check out the video guide by the Secret Code Podcast.
Assumptions we’re making in this tutorial:
- You already have a Coinbase Pro account or an account at another exchange where you can buy $ATOM
- You already have funds on Coinbase Pro with which you can buy $ATOM
- You are using one of the following browsers: Brave, Chrome, or Edge
- You have the Keplr Wallet browser extension installed—if not, install it by following this guide
With that out of the way, let’s get started!
How to get SCRT using the Osmosis DEX and ATOM
Step 1: Buy ATOM on Coinbase (or another CEX)
First, we need to buy ATOM to trade for SCRT on Osmosis. We’re using ATOM because it’s one of the primary assets traded on Osmosis and has one of the largest SCRT liquidity pools.
- Buy or trade ATOM on Coinbase here—you can either buy it directly or trade it for other crypto assets
Step 2: Send your ATOM to your Keplr wallet
Once you have your ATOM, you need to send it from Coinbase to your wallet.
- Click on “Send/Receive” in the upper right corner
- In the window that appears, make sure “Send” is selected
- Click on “Pay with” and select ATOM (Cosmos)
You’ll need to fill out your Cosmos Keplr wallet details in this window. 🚨 Make sure you’re using the details from the “Cosmos Hub” section in your Keplr wallet 🚨 Not Osmosis, Juno, or a myriad of the other chains you’ll have in there.
- Paste your Cosmos Keplr wallet address where it says “Enter ATOM Address”—this should start with “cosmos”.
- You can leave the “Atom MEMO” field empty, as a memo is only necessary when sending to an exchange
- Enter the amount of ATOM you want to send (pro tip: check the SCRT/ATOM pool at osmosis.zone.info/pools to see how much ATOM you need for your desired amount of SCRT)
- Carefully verify all your information here is correct before sending and select “Continue”
Once this is complete, you should be able to see your ATOM in your Keplr wallet extension! Now we need to transfer your funds to the Osmosis DEX.
Step 3: Deposit your ATOM on Osmosis
Now that you have your ATOM in your Keplr wallet, it’s time to send it over to Osmosis so you can trade it there.
- Navigate to the Osmosis Assets website
- Connect your wallet to Osmosis by clicking on the “Connect Wallet” button In the bottom-left corner—hit “Approve” in the Keplr popup that appears
You should now be on the Assets page.
- Locate Cosmos Hub — ATOM, and click on “Deposit”—this will send your ATOM from your Keplr wallet to your Osmosis Network wallet
Don’t worry, you’ll still have full control over your funds and will be able to see them in your Keplr extension in the “Osmosis” section.
- In the Deposit IBC Asset popup, enter the amount of ATOM you want to deposit and select “Deposit”—hit “Approve” in the Keplr popup that appears
Your assets are now being sent from the Cosmos to the Osmosis Network. It may take several minutes to arrive. Refresh the page and you should see your deposited ATOM show up in the Osmosis app.
Pro tip: Check mintscan.io to see the status of your IBC transfer. If the transaction takes too long then the transaction will revert.
Step 4: Trade your ATOM for SCRT on Osmosis
- Navigate to the trade page where you can trade your ATOM for SCRT
- Select ATOM in the “From” box and SCRT in the “To” box
- Enter the amount of ATOM you wish to trade for SCRT and click on “Swap”, then hit “Approve” in the Keplr popup that appears
This transaction will carry a 0.3% gas fee plus a small percentage for slippage (learn about slippage here).
You now have SCRT! Let’s go ahead and send it to Secret Network.
Step 5: Send your SCRT from Osmosis to Secret Network
Osmosis is great! But if you want to stake your SCRT, do private lending or trading on Secret, or mint/buy Secret NFTs, you’ll need to transfer your SCRT to Secret Network.
To do this, follow these steps:
- Return to the Assets page of Osmosis
- Find Secret Network — SCRT and select “Withdraw”
- In the Withdraw IBC Asset popup, enter the amount of SCRT you want to withdraw and select “Withdraw”
- Select “Approve” in the Keplr extension that pops up
Congratulations! You now have your SCRT on Secret Network! You can see your SCRT by opening your Keplr Wallet extension and selecting “Secret Network” at the top.
Pro tip: Go to mintscan.io & secretnodes.com to see the status of your transfer. You can also contact the Osmosis or Secret Network support team using one of their channels
What to do next
From here, you can:
- Stake your SCRT for 23%+ APR—read this article or watch this video to find out how
- Vote on governance proposals
- Make privacy-preserving trades using SecretSwap
And much more!
Want to learn more about Secret network? Check out our social and support channels:
- Website: https://scrt.network
- Discord: Chat.scrt.network
- Telegram: https://t.me/SCRTCommunity
- Twitter: https://twitter.com/SecretNetwork
- Help Desk: https://twitter.com/SecretNetwork
