A decentralized video delivery network and cryptocurrency are both built on the Theta blockchain. This ground-breaking platform offers the streaming industry technical and financial answers to its issues. In order to encourage bandwidth sharing across the network, the Theta blockchain was created. In particular, users get the chance to contribute their unused bandwidth and computing power in exchange for token rewards. Visit our Investing in Theta guide to learn more.
What Is Theta?
By building a decentralized platform for content producers, Theta seeks to address issues with streaming services like YouTube and Twitch. Like Ethereum and Cardano, it has a blockchain that supports smart contracts. Theta has a functioning ecosystem and users on its platform, in contrast to many other blockchains that support smart contracts. Theta’s blockchain-based decentralized application (DApp), THETA.tv, enables users to stream content decentralizedly, without the need for a third-party platform.
Theta Fuel (TFuel) and Theta are both tokens on the platform. The native cryptocurrency of the Theta platform, known as the “Theta token,” is employed for protocol governance. Because Theta is decentralized, token holders can vote with their tokens on network improvements. Similar to Ethereum’s gas, TFuel is used to pay network validators to process transactions on Theta’s blockchain.
Brief History Of Theta
Theta has Justin Kan and Steve Chen on its advisory board. Justin Kan and Steve Chen are co-founders of Twitch and YouTube, respectively. Kan and Chen are very important to the Theta team because the platform resembles both Twitch and YouTube in many ways.
In 2018, Mitch Liu and Jieyi Long co-founded Theta. The project had to raise money from private investors because the Theta token didn’t launch right away. The project is currently supported by companies like Samsung, Sony, and a number of venture capitalists from Silicon Valley.
In 2018, Theta Token started trading for about $0.20. Theta’s price fell along with almost all other crypto assets right after the 2017 bull market. The token fell as low as $0.06 in April 2020 before quickly increasing as a result of increased interest in the cryptocurrency markets. Theta is currently the 20th largest cryptocurrency by market capitalization with a price of almost $10.
Top 5 Exchanges To Buy The Theta (Theta)
1. Uphold
A top exchange in the United States & UK, Your needs for trading across a variety of cryptocurrencies, including Theta (THETA), should be able to be met by Uphold, a seasoned and highly innovative trading platform. Beyond the trading platform’s simplicity of use and cutting-edge features, Uphold stands out due to its reputation in the market.
Intuitive trading experiences are provided by Uphold on both desktop and mobile platforms. The trading view is very simple to use, offers a contemporary feel on desktop and mobile, and is completely customizable with the assets that you trade the most. It is a very popular and sensible option, especially for novice traders.
The Uphold trading platform not only looks good, but it also makes it very simple for you to execute trades. You don’t even need to wait for money to clear into your account—just a few clicks will let you start trading right from your deposit method. Another invention from a business that takes pride in the usability of its platform is this one-step ordering. Limit orders can also be carried out using Uphold.
2. Binance
One of the biggest and most well-known cryptocurrency exchanges in the world is Binance. Both lower fees than competing exchanges and increased liquidity allowing you to buy and sell quickly to take advantage of market-moving news are advantages of buying Theta (THETA) here.
This exchange is best for investors residing in Australia, Canada, Singapore, UK & internationally. USA residents are prohibited from purchasing Theta (THETA).
3. Kucoin
In terms of fees and trading costs, KuCoin is a well-known brand in the sector and among the most affordable. Since the exchange’s early days of only providing cryptocurrency trading, it has grown exponentially. It currently provides a wide range of services, such as P2P exchange functionality and credit or debit card purchases.
Currently, KuCoin provides trading for Theta (THETA) and more than 300 other well-known tokens. It frequently offers the first buying options for new tokens.
4. Huobi Global
With a cumulative trading volume of US $1 trillion since its establishment in 2013, Huobi Global has grown to become one of the largest digital asset exchanges in the world. Huobi, which once handled half of all global transactions involving digital assets, now provides services to more than 5 million users in more than 130 different nations. It should be noted that Huobi Global currently does not accept residents of the USA or Canada.
Theta (THETA) trading opportunities are currently available on a number of top exchanges, including Huobi Global.
5. Wazirx
WazirX, which was established in 2018, is currently the largest cryptocurrency exchange in India with more than 6,000 users. One of the most reputable exchanges currently accepting customers from all over the world and providing Theta (THETA) trading opportunities. Because this exchange is a member of the Binance Group, a high level of quality is guaranteed.
How To Buy Theta Network (Theta)
Step 1: Open An Online Account
Exchanges that provide Theta trading include Pionex, Binance.US, and Crypto.com, among other excellent choices. Making a Binance account may be different depending on where you live. You will be redirected to Binance.us by Binance if the IP address of your internet connection is American. Its U.S. exchange is Binance.us.-based investors, which only features certain services compliant with the Regulatory body for securities and exchanges (SEC).
In the U.S., if you register for Binance, you’ll need to verify your identity before you begin investing in cryptocurrency on its platform. Your driver’s license number, Social Security number, and home address are a few pieces of information you’ll need on hand.
Theta is not supported by well-known US exchanges like Coinbase, eToro, and Kraken, despite the fact that they are excellent choices for beginners. However, these exchanges make it very simple to purchase a number of other cryptocurrencies, such as Bitcoin, Ethereum, Uniswap, and Cardano.
Step 2: Buy A Wallet (Optional)
You should never keep your cryptocurrency assets on an exchange. Since these platforms are popular targets for cryptocurrency hackers, a number of crypto exchanges have been compromised in the past. Since the exchange is the custodian of all investor funds, a security lapse could result in the theft of every cryptocurrency held there.
If you want to reduce this risk, think about storing your assets in a specific cryptocurrency wallet. Hardware wallets and software wallets are the two primary categories of cryptocurrency wallets. On your PC or mobile device, software wallets are computer programs that encrypt your cryptocurrency. In order to store your cryptocurrency offline, hardware wallets use a physical device, making them the safest method.
Step 3: Make Your Purchase
After creating an account and deciding how to store your cryptocurrency, you are prepared to make a purchase. Theta can be traded on Binance using THETA-BTC and THETA-USDT. As opposed to the USDT pair, which mimics U.S. dollar, the You can exchange Theta token for Bitcoin using the Bitcoin-Theta pair.
Trade, sell or Convert your Theta
Sending your assets back onto Binance is required to complete the trade when you want to buy or sell Theta coins. Theta can be exchanged for Tether (USDT) or Bitcoin (BTC). Because Tether is a stablecoin tied to the value of the dollar, using it is equivalent to selling your investment for cash. As an alternative, you could exchange your Theta for Bitcoin, but this would expose you to the gyrations in the value of cryptocurrencies.
Is Theta A Smart Investment?
The founders of Theta are a trustworthy team and are well-versed in their field. Theta has historically made for excellent investment. For risk-tolerant cryptocurrency investors, the coin is a desirable investment because it has outperformed Bitcoin and Ethereum this year.
How To Sell Theta?
The majority of exchanges let you quickly and effectively sell THETA cryptocurrency.
Depending on your investment strategy, the resources you need for your investment, and your position in the markets, you may decide to buy THETA or sell it.
However, eToro makes it quick and easy to sell your cryptocurrency if and when you decide to. Simply sign in to your eToro account and choose the cryptocurrency you want to sell—in this case, THETA—if you want to sell THETA.
Your cryptocurrency will be sold once the procedure is finished, and the same amount (in fiat money) will be added to your eToro account.
Additionally, eToro allows you to store your cryptocurrency. eToro does not charge extra fees and/or charges to store your cryptocurrencies.
If everything currently under development continues as planned, according to some estimates, Theta will reach its maximum target of $27.336 in 2023.
Final Words On Theta
Theta is a blockchain project that targets a particular market segment and is eager to innovate in a rapidly expanding sector.
Assuming that price is unimportant, the Theta blockchain project has proactively identified a need for a sizable user base, including content producers, live streamers, and regular viewers who enjoy watching live content.
By working with industry titans like Sony and Samsung, it has already been making headlines in the field. Earlier in 2022, Theta and Sony worked together to develop two 3D NFTs for the Sony Spatial Reality Display.
Theta is working to make streaming more affordable and less dependent on sites like Netflix, YouTube, and Twitch.
