How to Buy Theta in 2020: Buy, Sell & Trade

The Theta project aims to revolutionise video streaming with blockchain technology. Is the platform’s THETA and TFUEL tokens good investments? We take a closer look.

Where to buy Theta coin

Read on to find out more about Theta in 2020 or skip ahead to our step-by-step buyers guide if you’re up to speed and ready to invest.

eToro
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Key Features
Access the world’s most popular Crypto assets including Bitcoin
Automatically copy the trades of top Crypto traders
Deposit using PayPal + 9 other deposit options
Top Coins
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Credit Card, Debit Card, Wire Transfer, PayPal, Skrill, Neteller, Yandex, WebMoney, UnionPay, MoneyGram
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Key Features
Licensed and regulated by CySEC and FCA authorised UK Branch
Multi-platform broker: Skilling Trader proprietary trading platform and cTrader
Offers 800+ instruments
Top Coins
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Skilling is a CFD trading platform that offers instruments from markets around the world (Cryptos, Forex, Commodities, Indices, Stocks). Our proprietary platform has been designed to be both intuitive and user-friendly to ensure that anybody who wants to start trading the world’s markets, can feel confident and secure enough to trade without being apprehensive or intimidated when confronted by numbers, graphs and acronyms.
69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Juventus Official Partner
Multiple payment methods including PayPal
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Offers BTC, XRP, LTC, ETH and many more
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Multiple payment methods including PayPal
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24Option is an online CFD broker providing an intuitive trading platform designed with the latest technological advancements that are geared towards new traders as well as professionals.
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Trading Forex, CFDs and Cryptocurrencies is highly speculative, carries a level of risk and may not be suitable for all investors. You may lose some or all of your invested capital, therefore you should not speculate with capital that you cannot afford to lose.
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All trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Carefully consider your investment objectives, experience level, and risk tolerance. Educate yourself on the risks associated with trading and seek advice from an independent financial and/or tax professional.

What is Theta?

The Theta Network is a blockchain-based platform that enables high-bandwidth video delivery. It features decentralised streaming and token-based bandwidth sharing and is being touted as the next generation of video delivery. 

YouTube Co-Founder Steve Chen claims 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?

The Theta team identified three key problems with live video streaming: low quality, high cost of infrastructure and centralised, inefficient ecosystems. Theta addresses these issues by using blockchain technology to create a decentralised video streaming platform. It rewards viewers for sharing bandwidth and resources to deliver high quality, smooth video streaming at a reduced cost.  The aim is to create a sustainable incentivised mechanism that motivate all stakeholders to participate in a decentralised video delivery network.

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. Get a suitable wallet

A wallet allows you to store your THETA or TFUEL securely. It’s a good idea to have one ready before you invest so you’re able to transfer your freshly acquired tokens off the exchange and keep them safely stored. There are a few good options on the market, including:

  • Theta Wallet: Theta’s official wallet can be created as a web wallet on the 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. 

Step 2. Find a Theta exchange

There are plenty of exchanges on offer if you want to buy and sell THETA. Each has advantages and disadvantages, so it’s a good idea to do a bit of research. 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 that doesn’t feel extortionate given the quality of the platform.

Step 3. Withdraw your Theta

It’s a good idea to secure your Theta by moving them off the exchange and into your wallet as soon as possible. To withdraw your Theta to your wallet you need to generate an address then paste it in the relevant field of your exchange account. 

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 because trading involves taking a position on a currency rather than actually buying it. This means you can potentially make a profit from THETA without the hassle and security risk of owning it. 

Step 1. Find a broker

THETA and TRFUEL 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 crypto trading platforms. 

Step 2. Deposit money

Most trading platforms will allow you to deposit Fiat money (USD, GBP, EUR etc.). It’s worth noting that trading platforms offer leveraged trading, which means you don’t have to put down the full value of a trade. Instead you can pay a deposit, known as a ‘margin’. This means you can potentially make bigger profits and, of course, bigger losses.

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 researching the differences between spreads and CFDs.

Step 4. Start trading 

If you’re a complete novice we recommend starting with a demo account and familiarising yourself with the process and the platform. Cryptocurrency trading is extremely volatile, which means you can make and lose money very quickly. Cryptocurrencies are prone to fluctuation, which makes them intriguing prospects for traders who look to exploit volatility.

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.  

Still undecided?

Pros
  • 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
Cons
  • Probably a better long-term investment prospect
  • Technically complicated
By Harry Atkins
Harry joined us in 2019 to lead our Editorial Team. Drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the finance sector encompasses work for high street and investment banks, insurance companies and trading platforms.

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