Secret (SCRT) is currently up more than 1,000% in the model portfolio.
…So it’s time to lock in profits
We added Secret to the model portfolio in June 2019. It allows users to interact with encrypted sensitive information and store it safely on the Secret Network.
We’re still optimistic about the long-term outlook of the ecosystem Secret is building. But as long time members know, we like to take some of our profits off the table when a crypto soars. Usually, we sell one-third (1/3) of our position when a token triples. But Secret tokens can be challenging to sell.
You see, when we first bought Secret (then called Enigma), it was on the Ethereum network. The project later moved to its own blockchain called the Secret Network, which is built on Cosmos technology.
That means a lot of Crypto Wealth Coach members are holding tokens that need to be bridged from Ethereum to the Secret Network (more on this below). Otherwise, you might have limited liquidity if you try to sell your native ERC-20 tokens.
The bridging process has improved in recent months. And by selling 10% now, we can recover our initial investment while continuing to let our winners run.
CALL TO ACTION
Sell 10% of your Secret (SCRT) position at market. The model portfolio will be exchanging SCRT for sUSDC (the Secret Network wrapped version of USD Coin).
Exchanges: We recommend using SecretSwap. But you can also use SushiSwap, Uniswap, Binanace .com, and others. You can find a full list here:
How to Sell SCRT
To sell your SCRT tokens, you’ll first need to bridge them away from the Ethereum network or Binance Smart Chain to the native Secret blockchain.
If you bought SCRT on the native Secret blockchain or you’ve already bridged your SCRT to the native blockchain, you can skip the bridging section below.
How to Bridge Your Tokens
First, you’ll need to have the Keplr wallet extension to hold your SCRT. You can download that here:
If you have ERC-20 tokens (they’ll be visible in MetaMask or MyEtherWallet) or tokens on Binance Smart Chain, you’ll need to bridge them to the Secret Network.
To do that, just go here:
and connect your wallet that holds your SCRT. Then you’ll need to enter your Keplr wallet’s address. You can learn more about using the Keplr wallet here:
Finally, bridge your tokens over. You can find an FAQ for bridging right here:
If you’re new to bridging or are sending tokens to a new wallet, we recommend sending a small test transaction at first. Yes, your smart-contract fees will be higher. But sending test transactions can prevent losing your whole position.
Once you have SCRT tokens on the Secret Network, you can sell them on several exchanges. We recommend using SecretSwap, which is the native decentralized exchange (“DEX”) built on the Secret Network. It functions like Uniswap and other DEXs, so it should look familiar. You can find answers to popular questions about how to use SecretSwap here:
Next, you’ll need to decide what you want to swap your SCRT into. You can swap into sWBTC, sETH, sUSDC, or sUSDT (to name a few). These are the Secret Network wrapped versions of Wrapped Bitcoin (WBTC), Ethereum (ETH), USD Coin (USDC), and Tether (USDT). You can hold those positions or you can bridge them back to the Ethereum network if you wish. You can see how much liquidity is available for each pair right here:
The model portfolio will be exchanging 10% of SCRT for sUSDC.
The contract address for sUSDC on SecretSwap is secret1h6z05y90gwm4sqxzhz4pkyp36cna9xtp7q0urv.
Once you’ve exchanged your tokens, you can bridge your sUSDC back to the Ethereum network using the Secret-Ethereum Bridge described above, if you choose.
Note: SecretSwap can trade three different types of Secret tokens: SCRT, sSCRT, and sSCRT(BSC). The token sSCRT has the most liquidity, so you may need to exchange SCRT or sSCRT(BSC) – if those are the ones you have – for sSCRT, which is simply SCRT that has been wrapped in a secret contract. This extra step should take no more than a minute and won’t cost much by way of fees.
Stay ahead of the masses,
Founder, Crypto Wealth Coach