The Theta project aims to revolutionise video streaming with blockchain technology, but are the platform’s THETA and TFUEL tokens good investments?
This guide will take you through everything you need to know in order to buy and trade Theta. From a brief overview of the coin and vision of the Theta Network, to step-by-step guides to buying and selling Theta.
Compare where to buy Theta Coin, and open an account
This table will help you compare all your options when buying Theta in 2020. If you’re ready to buy or trade now, then simply select the platform you prefer to go straight there. Otherwise keep reading below for more information.
What is Theta?
Before jumping in and buying Theta, it’s important to understand what it is. You should never invest in something you don’t understand. So, with that in mind, here’s a quick summary.
The Theta Network is a blockchain-based video delivery platform. Its aim 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 to buy Theta
There are plenty of exchanges on offer if you want to buy or sell Theta. Each has advantages and disadvantages, so it’s a good idea to do a bit of research, and you can find a quick an 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: Widely considered to be the best, most dependable place to buy 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.
- Changelly: Changelly 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.
Step 2. Sign up and fund your account
Once you’ve 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, but 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 buy some coins, and then transfer these into your exchange account.
Step 3. Buy Theta
Once you have funded your exchange account, you can start trading your cryptocurrency for Theta. This again will vary from exchange to exchange, but you will be able to place orders in a crypto trading pair (such as THETA/BTC) in order to buy Theta from other users of the exchange – the same way a stock exchange works.
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 you needn’t worry about getting a suitable wallet. This is because the process of trading cryptocurrencies involves taking a position on coin’s value rather than actually buying it. Through CFD brokers (contracts for difference) or spread betting brokers, you can profit from rises in Theta’s value without having to own the coins. 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 will 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 (sell) or long (buy) 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.
That’s ok, it’s always wise to take your time before investing your money. To help you decide whether you want to buy Theta, 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
- Probably a better long-term rather than short-term investment prospect
- Technically complicated
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 it a good time to buy Theta?
If your purpose for buying Theta is simply to use the Theta Network, then it’s always a good time to buy. As long as you can afford the tokens, then simply buy a few and check it out.
If, however, you’re looking at buying or trading 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.
Up or down? Theta (THETA) price prediction for November
The price of Theta (THETA) has been moving in an uptrend last several months and for now, there is no signal of the trend reversal. There is still a level of uncertainty surrounding the Theta project but if the price jumps again above $0.70 the next target could be located at $0.80 or even $0.90. Fundamental analysis: Theta could improve the video streaming industry Theta (THETA) price has advanced from $0.10 above $0.79 in less than six months a…
Is Theta (THETA) a buy or sell in November?
The price of Theta (THETA) has advanced from $0.10 above $0.79 in less than six months and the current price stands around $0.60. There is still a level of uncertainty surrounding the Theta project but if the price jumps above $0.80 the next target could be located at $0.90 or even $1. Fundamental analysis: Theta could improve the video streaming industry Launched in March 2019, Theta is a decentralized peer-to-peer network that can offer improve…
Theta price explodes 265% as Samsung plans to incorporate Theta.tv in Galaxy smartphones
The price of THETA Token has surged more than 260% in May to hit an all-time high at $0.4782 before retreating to the low $0.40s. The platform has received a major boost after the South Korean tech giant Samsung said it will incorporate Theta.tv streaming platform into its Galaxy S20 smartphones. Fundamental analysis: Samsung is a big win as the community expects a major platform upgrade Samsung announced its plan to pre-install the blockchain-ba…
What problem does theta solve, and what are the coin’s investment prospects?
You shouldn’t invest in Theta just because you’ve heard the coin’s name repeated a few times. Before investing in any crypto-based company, it’s important to understand what their vision is, and why this could generate value and growth.
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 buying Theta is a worthwhile investment. This will help you understand what you’re buying 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:
THETA (THETA) price retesting a roadblock at $0.48
THETA (THETA) is a 44th largest cryptocurrency by market cap, currently amounting to $372.1 million. The coin’s price behaved rather interestingly in 2020, barely following the market trends. Despite this, THETA is reaching high, and it currently once again approaches its largest resistance level, which already rejected it once before. THETA in 2020 When it comes to most coins, their behavior this year closely resembles that of Bitcoin. The…
Theta partners up with Korean gaming-centric social platform
The crypto and blockchain industries’ ties with gaming continue to strengthen with the recent partnership between the crypto-centric eSports platform Theta, and South Korean social gaming platform Ludena Protocol. The two projects teamed up to provide their users with rewards for streaming and watching content offered on the platforms. A new partnership for greater exposure Thanks to the partnership, the Theta protocol will be integrated in…
Do you want to hold Theta for the long term?
If you’ve decided you want to buy 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, then a buy-and-hold strategy is best. For this, you’ll want to 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.