Communication devices and a method of providing secure electronic content are general described. Content is encrypted using a time-invariant encryption algorithm on the binary bits and a time-varying baseband key encryption waveform with a time-varying phase or amplitude. The content is recovered using a waveform with a reference phase mixed with a reference LO signal or combining the waveform and content using an XOR to measure a change of the phase/amplitude of the received signal relative to the LO signal. The key for the time-invariant binary bit level encryption may be communicated on a different channel than the content prior to communication of the content or concurrently with the content. The phase/amplitude of the baseband key may vary after baseband waveform encryption of a predetermined number of symbols, independent of the time, or after a predetermined time independent of an amount of baseband signal encrypted.