Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Secret. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!

Sign up with Swyftx

Secret

Australia has a decent number of popular and regulated crypto trading platforms, so it’s quite easy finding an exchange that has Secret. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.

Let’s get into it!

How to Buy Secret in Australia

There are only 4 main steps involved and it’s pretty straightforward:

  1. Choose a crypto exchange
  2. Sign up with the exchange
  3. Fund your account with AUD
  4. Buy Secret

1. Choose a crypto exchange

As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Secret in its list of cryptocurrencies.

Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.

And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.

So for this guide on buying Secret, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Secret.

If you’d like to learn more about the exchanges we like, check our comparison of the most secure crypto exchanges.

2. Sign up with the crypto exchange

Once you’ve decided on which exchange to use, it’s time to sign up.

Sign up with Swyftx and grab $20 free BTC.

Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.

Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.

Once done, it’s time for the next step.

3. Funding your account with AUD

To buy Secret, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.

Swyftx Deposit Methods

4. Buy Secret

The final step is to go to their asset list, find Secret, navigate to the buy section, and then trade your AUD for some SCRT. Once you’ve bought Secret, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.

Where to Buy Secret (SCRT)

ExchangeRatingCryptocurrenciesSite
Swyftx logo5/5300+ cryptocurrenciesVisit Swyftx
CoinSpot logo4/5200+ cryptocurrenciesVisit Coinspot
binance logo3/5400+ cryptocurrenciesVisit Binance

Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

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How to Sell Secret

If you’re thinking about selling Secret, just follow the steps below.

  1. Sign in to the crypto exchange (like Swyftx).
  2. Click on Secret in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
  3. FInd the sell section and sell Secret for AUD, or trade it for another cryptocurrency.

Frequently Asked Questions

Is buying Secret in Australia legal?

Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.

How to buy Secret with PayPal?

Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find Secret. Have a look on their site first, you might be lucky.

How to buy Secret with a credit card or debit card?

Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy Secret with your credit/debit card.

About Secret

Secret (SCRT), which is a Cosmos-based privacy-oriented Blockchain, was built. Secret Contracts are its smart contract. DApps can access Secret's private information, just like smart contracts on other Blockchains. Secret Contracts convert encrypted inputs to encrypted outputs and do not expose any data. This is possible due to the execution of encrypted contract states.

Combining encryption protocols and key management in a Trusted execution environment is one way to protect data privacy. Secret Contracts can be used in privacy-related applications that traditional Blockchains cannot. Secret allows you to create private voting systems and credit scoring apps. They don't reveal sensitive user data.

The Secret Network is different because it emphasizes privacy and encryption at the end. This is something that blockchains like Ethereum don't have. The network's developers can create solutions that not only protect privacy, but also allow for usability. This is a key part of the network's goal to encourage privacy-first, decentralized applications.

Secret's node operators make use of specialized hardware to run code within safe enclaves called Trusted Execution environments. This is not true for other public blockchains. These TEEs do not allow device administrators to access the decrypted information. This is how the blockchain works:

  • Users can send encrypted inputs into the network
  • The Secret nodes can be used to validate encrypted data and perform computations.
  • Proposing validator submits encrypted output
  • The validators unanimously accept the results
  • Secret Network keeps encrypted outputs and encrypted contract states.
  • CosmWasm is the foundation of smart contracts functionality. This smart contracting platform is part the Cosmos ecosystem.

Secret can be used in many ways. Digital content management platforms can use Secret to store decryption keys for their content. After payment has been made, the Secret contract shares decryption keys to the user. After payment is received, the user will be able to access their key. Because the data is publicly accessible, traditional blockchains make this impossible.

Secret voting and secret auctions are another example. Secret Contracts allow them to submit secret bids and votes. This allows contract computing encrypted outputs to be used to determine the winner, without disclosing votes.

Secret is able maintain privacy in decentralized financial system that offers economic opportunities for wealth creation that were not possible before.

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