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How to buy Theta coin online
This guide will take you through everything you need to know in order to invest in Theta. From a brief overview of the coin and vision of the Theta Network to a step-by-step guide on how to buy and sell Theta tokens online, we have got the information you need.
Compare where to buy Theta coin, and open an account
If you are trying to find where to buy Theta coin in the UK or elsewhere, this table helps you compare all your options. If you’re ready to get started now, then simply select the platform you prefer to go straight there. Otherwise keep reading below for more information.
What is Theta?
The Theta Network is a blockchain-based video delivery platform. The aim of the project is to allow for high-bandwidth decentralised streaming, with users able to pay to watch other peoples’ streams or get paid to stream to other people. THETA is the cryptocurrency used to carry out these payments.
Theta is being touted as the next generation of video delivery, with YouTube Co-Founder Steve Chen claiming that the platform is ‘set to disrupt today’s online video industry in much the same way that the YouTube platform did to traditional video back in 2005.’
How does Theta work?
Theta works by decentralising the video streaming process in order to increase the quality of video available to users. The Theta team identified three key problems with live video streaming: low quality, high cost of infrastructure, and inefficient centralised ecosystems. They then used blockchain technology to help solve these problems.
The Theta Network rewards viewers for sharing bandwidth and resources in the form of Theta tokens. This enables the network to do away with expensive centralised infrastructure, and therefore deliver high quality, smooth video streaming at a reduced cost.
The Theta Token (THETA) is the platform’s ‘governance token’ and shouldn’t be confused with Theta Fuel (TFUEL), the protocol’s operational token (so named because it’s the ‘gas’ of the protocol). THETA is used strictly for staking and securing the network, while TFUEL is used to power microtransactions and operations of the network.
How to buy THETA online – step-by-step guide
Step 1. Find an exchange
There are many different crypto exchanges that you can use. Each has its own advantages and disadvantages, so it’s a good idea to do a bit of research. Furthermore, you can find a quick and easy comparison of the best options in the table further up this page.
To get you started, here are two of our favourite Theta exchanges:
- Binance: Binance is one of the most popular options. Widely considered to be the best, most dependable place to purchase altcoins, Binance is the world’s biggest crypto exchange. It offers a huge marketplace and fees that compare favourably with its main competitors, plus a well-designed mobile app. Open an account here >
- Changelly: Changelly is a strong crypto investing option. It combines slick, highly convenient design and speed. Fees are 0.5%, which is a touch higher than many exchanges, but these don’t feel extortionate given the quality of the platform. Sign up here >
Step 2. Sign up and fund your account
Once you have selected the exchange you want to use, you’ll need to head to their website and set up an account. The steps for this process will vary from exchange to exchange, though in general, you’ll need to provide an email address, phone number, and a form of identification.
Some exchanges will not allow you to deposit fiat currency, instead only allowing you to fund your account with cryptocurrencies. This means you’ll have to go to a Bitcoin broker such as Coinbase to purchase some coins and then transfer these into your exchange account.
Step 3. Purchase
Once you are ready to invest and have funded your exchange account, you can start trading your cryptocurrency for Theta. If you have funded your account with a crypto like Bitcoin, find the THETA/BTC pair, whereas if you have funded your account with fiat money, look for the appropriate pair. So, in the UK, navigate to the THETA/GBP pair.
Step 4. (Optional) Get a suitable wallet
If you want to hold your Theta for a long time, and to store them extra securely, the best thing to do is set up a personal wallet you control and transfer your Theta into it. This isn’t absolutely necessary, as most reputable exchanges have good security features, but it is an approach some investors choose to take.
There are currently a few good Theta wallet options available on the market, including:
- Theta Wallet: Theta’s official wallet can be created as a web wallet through thetatoken.org and is now available as a mobile app for Android and iOS. The official wallet can store both the ERC20 Theta Token and Theta Mainnet tokens. It also offers support for Trezor and Ledger hardware wallets.
How to trade Theta – step-by-step guide
If you’re only interested in trading Theta, a wallet isn’t really necessary. This is because the process of trading cryptocurrencies involves taking a position on a coin’s value rather than actually purchasing it. Through CFD brokers (contracts for difference) or spread betting brokers, you can profit from rises in Theta’s value without having to own coins outright. Here are the steps to follow.
Step 1. Find a broker
THETA and TFUEL are pretty new to the market so you may struggle to find a trading platform that allows you to trade on them. This will probably change over time. Plus500 and eToro are two of the most popular online crypto trading brokers around today.
Step 2. Deposit money
Most trading platforms allow you to deposit money in fiat currencies (e.g. USD, GBP, EUR). Typically, there are fees associated with different ways of funding your account, so be sure to check out our reviews to find the cheapest way to start trading Theta.
Step 3. Decide how you’d like to trade
There are two methods to trade cryptocurrencies: CFDs (contracts for difference) and Spread Betting. Both methods essentially entail speculating on the price movements of your chosen currency. If you aren’t sure which option to go for, we recommend reading more about both methods right here on Invezz.
Step 4. Start trading
If you’re a complete novice we recommend starting with a demo account and familiarising yourself with the process and your chosen platform. Cryptocurrency trading is extremely volatile, which means you can make and lose money very quickly, so it is important to know what you’re doing before trading with real money.
As a crypto trader, you’re speculating on your currency’s price movements by taking a short or long position. If you think Theta will fall in value you should take a short position, if you think it will rise in value you should take a long position.
You may choose to incorporate leverage into your trading strategy. Leveraged trading allows you to put up a fraction of the trade’s value as a deposit or ‘margin’. This can be risky, though, so make sure you have a stop loss in place for damage limitation.
It’s always wise to take your time before investing your money. To help you decide whether you want to make an investment, take a look at the following pros and cons, and our suggestions below for what to consider.
- A unique and potentially disruptive project
- Has some prominent investors including Samsung
- Serious names, including YouTube Co-Founder Steve Chen, are involved
- Passive income potential for guardian node runners
If these pros and cons aren’t enough to help you make your decision, then here’s some more information. These are three things to consider when making up your mind about investing in Theta:
Is now a good time to buy Theta?
If you want to acquire Theta tokens simply to use the Theta Network, then it’s always a good time to get involved. As long as you can afford the tokens, then simply purchase a few and check it out.
However, if you’re looking at acquiring Theta as an investment, then you’ll want to do some more research into its long term vision and current price performance. It’s also a good idea to check out the latest news around Theta so you can assess whether it’s something you want to get involved in. Here are three of our most recent pieces of analysis from our experts.
April update: should you buy or sell Theta (THETA)?
Waves, PotCoin, Theta price analysis roundup
Theta (THETA) price explodes this December. Here are the next price targets
What problem does Theta solve, and what are the coin’s investment prospects?
The attraction of Theta is that its network aims to revolutionise video streaming with blockchain technology. This is an absolutely huge industry with a lot of potential. Simply consider giants like YouTube, Netflix, and Twitch – if Theta could one day get its name mentioned alongside companies like this, it will have turned out to be a very wise investment.
But, on the other side, it is a very competitive space in which companies are in now way guaranteed to succeed. One only has to look at the recent collapse of Quibi to see the challenges involved in running a streaming business.
The best thing to do is to research Theta and its goals, and consider whether you think Theta is a worthwhile investment. This will help you understand the asset better and increase your chances of investment success. It’s also necessary to keep on top of the news so you’re acting on up-to-date information, and with that in mind here are our latest updates:
Why buy THETA in June?
Should you buy THETA in June?
Theta mainnet launch approaches, causes THETA and TFUEL prices to rally
Do you want to hold Theta for the long term?
If you’ve decided you want to hold Theta for investment purposes, knowing how soon you want to see returns will help guide your approach. If you believe in the project, there’s never a bad time to invest, but here’s what you’ll want to consider with a long or short term approach.
Considerations for a long term investment strategy
If you want to invest in Theta for the long term because you like the vision of the project, the most important question you need to ask yourself is “where can I buy Theta coin?” Therefore, you should find yourself a cryptocurrency exchange that allows you to trade other cryptocurrencies for Theta and consider transferring these coins into a personal wallet.
Considerations for a short term trading strategy
If you want to see short term gains, you’re best off familiarising yourself with trading and signing up with a reliable online broker. These services can help you trade Theta quickly, and often offer extra features such as leveraged trading. The analysis above on this page can help you time your trades just right.
Fact-checking & references
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