TUTORIAL
How to Buy, Store, and Stake SCRT
Learn how to get and stake SCRT to earn off your crypto while helping to secure Secret Network.
ABOUT STAKING
Why stake SCRT?
Staking is one of the easiest ways to earn using your crypto with blockchains that use the Proof-of-Stake consensus mechanism, like Secret. Currently, SCRT staking rewards are between 15 and 28% ROI annually!
On top of that, you’ll help secure the network and can vote on Secret Network governance proposals.
GETTING STARTED
Getting a wallet & buying SCRT
Before you can start staking, you need to get a crypto wallet and buy some SCRT.
Getting a wallet
We recommend using the Keplr wallet—the interchain wallet for the Cosmos ecosystem. It’s super easy to use and integrates with all apps on Secret Network.https://www.youtube.com/embed/GarnfDNKPLg?enablejsapi=1&origin=https%3A%2F%2Fscrt.networkLearn how to install and set up your Keplr wallet.
Buying SCRT
You can buy SCRT on CEXes, DEXes, and directly with your credit card.
🏦 For an overview of the other ways in which you can get SCRT (CEXes, DEXes, and direct pay) check out our Get SCRT page.
For US residents, we recommend buying SCRT on Osmosis, the leading DEX in the Cosmos ecosystem.https://www.youtube.com/embed/5omunWd-V9Y?enablejsapi=1&origin=https%3A%2F%2Fscrt.networkThis video will take you through all the steps to get your SCRT and store it in your Keplr wallet.
📖 Prefer to read? Check out this guide on how to purchase SCRT using Osmosis Zone and Atom.
Staking your SCRT with the Keplr wallet
Now that you have your SCRT, you can start staking! We’ll take you through all the steps.
STEP 1
Go to the Keplr dashboard
The first step to SCRT staking is accessing the Keplr dashboard.
- Open your Keplr browser extension and select Secret Network from the drop-down at the top of the window. It may say “Cosmos Hub” by default.
- Click on “Stake”—this will redirect you to Keplr’s Secret staking dashboard
STEP 2
Select a validator
In the Keplr staking dashboard, you’ll see the list of validators you’re able to stake with.
There are currently 80 validators in the active set. Click on a validator’s name for a short description about the node, along with other statistics like uptime and commission percentage.
When picking your validator, consider these three factors:
- Decentralization of the network—SCRT staking with smaller validators helps distribute voting power within the network
- How actively a validator participates in network votes, and whether its opinions are in line with your values—you can see a validator’s full voting history by selecting it in Mintscan
- The validator’s reliability to keep the node online—you can check validator uptimes in Mintscan as well
STEP 3
Stake your SCRT
Once you picked your validator it’s time to start staking!
- Click the “Manage” button next to your chosen validator
- Select “Delegate” in the pop-up that appears
- Enter the amount of SCRT you want to stake and click “Delegate” again
⚠️ NOTE: There’s a 21-day lock-up period, which means that once you start un-staking your SCRT, your staked funds won’t become liquid and available to use for 21 days.
- Click the “Manage” button next to your validator of choice
- Approve the transaction in the pop-up that appears
That’s it! Now you’re staking your SCRT and earning rewards in the process. At any time, you can go to your Secret Network dashboard in the Keplr wallet and see how much SCRT you accumulated.
Claiming your SCRT staking rewards
- Open your Keplr browser extension and select “Secret Network”
- Click on “Claim” and approve the transaction
Now you started the process of unbonding and your SCRT + rewards should be available in your wallet within 21 days!
