TUTORIAL
How to Buy SCRT on Osmosis
If you live in the USA, Kraken and Okcoin are currently some of the only centralized exchanges (CEXes) where you can buy SCRT—the native token of Secret Network.
However, there’s another way to get some SCRT in your wallet 👀
This article will show you how to buy the SCRT token through the Osmosis DEX, the largest decentralized exchange in the Cosmos ecosystem. In this example, we’ll use Coinbase as an on-ramp, but you can use these steps with your preferred centralized exchange.
GETTING STARTED
What you'll need
- A Coinbase account or an account at another exchange where you can buy $ATOM, along with funds with to purchase ATOM
- One of the following browsers: Brave, Chrome, or Edge—we recommend Chrome or Brave
- Keplr Wallet browser extension—install it by following this guide
Once you have everything you need, let’s get started!
How to buy SCRT using the Osmosis DEX and ATOM
STEP 1
Buy ATOM
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.
You can buy or trade ATOM on Coinbase. Either buy it directly or exchange it for other crypto assets.
STEP 2
Send your ATOM to your Keplr wallet
Once you have your ATOM, you must send it from Coinbase to your Keplr wallet.
- Click on the “Send/Receive” button in the upper right corner
- In the window that appears, make sure the “Send” tab is selected
- Click on “Pay with” and choose ATOM (Cosmos)
You’ll need to fill out your Cosmos Keplr wallet details in this window.
NOTE: Make sure you’re using the details from the Cosmos Hub section selected via the dropdown menu in your Keplr wallet, NOT Osmosis, Juno, or one of the other chains Keplr serves.
- Paste your Cosmos Keplr wallet address where it says “Enter ATOM Address”—this address 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 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 for SCRT.
Connect your wallet to Osmosis by clicking on the “Connect Wallet” button. Hit “Approve” in the Keplr window 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 still have complete control over your funds and can see them in your Keplr extension via the “Osmosis” section in the network dropdown menu.
In the Deposit IBC Asset that appears, enter the amount of ATOM you want to deposit and select “Deposit”. Next, hit “Approve” in the Keplr popup that appears.
Approving this transaction sends your assets 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 to see the status of your IBC transfer. If the transaction takes too long, it will be cancelled.
STEP 4
Trade your ATOM for SCRT on Osmosis
Navigate to the trade page where you can trade your ATOM for SCRT coins.
Since we’re exchanging ATOM for SCRT, Select ATOM in the “From” dropdown and SCRT in the “To” dropdown. Enter the amount of ATOM you wish to trade for SCRT and click on “Swap”.
Next, hit “Approve” in the Keplr popup that appears. This transaction will carry a 0.3% gas fee plus a small percentage for slippage.
You just exchanged your ATOM for SCRT! Let’s go ahead and send it to your Keplr wallet.
STEP 5
Send your SCRT from Osmosis to Secret Network
Osmosis is great for exchanging assets, but if you want to stake your SCRT, lend or trade on Secret, you’ll need to transfer your SCRT to the Secret Network tab of your Keplr wallet.
To do this, follow these steps:
- Return to the Osmosis Assets page
- 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 in your Keplr Wallet! You can see your SCRT by opening your wallet extension and selecting “Secret Network” from the dropdown menu at the top.
Pro tip: Go to Mintscan to see the status of your transfer.
What's next?
From here, you can:
- Stake your SCRT—read this article or watch this video to find out how
- Vote on governance proposals
- Get privacy-preserving SNIP-20 tokens using SecretSwap
And much more!