By now, most people are familiar with the story of how Netflix evolved from a mail-based DVD rental company to the streaming video giant it is today. And how almost every film production company wants to get into the streaming business one way or another.
With decentralized applications and platforms making their way into almost every aspect of our lives, it was just a matter of time before someone came up with a decentralized video streaming platform, and that’s where Theta comes in. They provide a global, decentralized, user-powered video streaming platform.
Theta is gaining a lot of momentum recently, so maybe you’re interested in investing in it. If you want to know how to buy Theta, you’re in the right place. Read on for a full, step-by-step guide.
Where to Buy THETA – Top 5 Exchanges
Theta launched in 2018, so it’s not exactly a newcomer to the blockchain world, but it’s not among the oldest either. Theta is currently ranked #21 among all cryptocurrencies according to market capitalization, so it definitely has something going for it. Before we go over how to buy THETA, we need to know where we can do it. Here's a quick overview of the top five Theta exchanges:
|Name||Deposit Methods||Fiat currencies||Cryptocurrencies||Trades THETA with...|
|Binance||Credit Card, Cryptocurrency||USD||150+||USDT, BTC, BNB, ETH, EUR|
|Huobi Global||AdvCash, Crypto, SWIFT, wire transfer||USD, AUD, CAD, EUR, GBP, INR, CNY & others||300+||USDT, BTC, HUSD, ETH|
|Gate.io||Crypto only||300+||USDT, ETH|
All of the exchanges above are good places to buy Theta. Choosing among them may come down to a specific feature or where you live. Binance has the highest trading volume, but US residents can’t use it. Huobi Global has the widest variety of deposit methods and also supports the highest number of both fiat currencies and cryptocurrencies in this lot. KuCoin and Gate.io are crypto-only exchanges, so no fiat support there. Bithumb only allows you to buy Theta with Korean Won. These are all things you want to consider when choosing your exchange.
There are plenty of other exchanges where you can buy Theta and some of the smaller ones may be perfectly suited for your needs. You can check out the full list on coinmarketcap.com by clicking here.
Step-by-Step Guide on how to buy Theta
If you’re reading this article, we can assume you at least have some interest or intention in buying Theta. We’ll use an example to show you how to buy Theta. From the list above, the trading pair with the highest volume is Theta/USDT on Binance, so we’ll use that in this example. The process is very similar on other exchanges.
Let’s assume you have some USDT in a personal wallet and want to buy 100 USD worth of Theta.
Step 1: Create an account on Binance
Feel free to skip this step if you already have a Binance account.
Go to the Binance home page at www.binance.com and click on the yellow “Register” button near the top right.
Fill in your email address, create a secure password, then click on “Create account” and follow all the steps to verify and activate your account. Two-factor authentication (2FA) is great for an extra level of security, so you might as well set it up now.
Step 2: Deposit funds
Now that your Binance account is all set up and ready to go, you need to deposit the funds you’ll use to buy Theta. To do that you have to send USDT from your personal wallet to your Binance USDT wallet address.
So log in to your Binance account and, from ribbon across the top, click on “Wallet” then on “Spot Wallet”
This page shows you the combined value of all the tokens in your wallet. In other words, your general balance. Click the “Deposit” button.
You will first be presented with the option to deposit fiat currency via transfer or credit card. But in this example we won’t be depositing fiat, so click on “Deposit crypto” in the top right.
On this page, there’s a drop-down menu where you can select the cryptocurrency you want to deposit. In this case, Tether. Your Binance USDT wallet address will appear on the right. Here you can copy the address to the clipboard or hover to show a QR code you can scan.
Back in your personal wallet, send the desired amount of USDT to the address you got in the previous step. After all the network confirmations have been completed, your tokens will show up in your Binance wallet ready for buying Theta. It should only take a few minutes.
Step 3: Buying Theta
So far, you haven’t actually bought anything. You’ve just transferred USDT from one account to another. Now it’s time to make the purchase. That happens on Binance’s cryptocurrency market. To get there, click on “Markets” in the top ribbon.
Binance has several markets, depending on the base cryptocurrency in the trading pair. There’s a tab for Bitcoin markets, Ether markets, Altcoin markets, and Fiat markets. In this example, we’re buying with USDT. USDT is a fiat-pegged stablecoin and not a true fiat currency, but it's on Binance's Fiat Markets tab anyway. So click on that tab and type “theta” in the search bar on the right.
The Theta/USDT trade pair will show up in the window. Click on it to go to the trading page.
You might be asked to choose between the Classic or Advanced trading views, especially if it’s your first time using Binance. The Classic view is just fine for the simple purchase we're going to make, so select it.
Now we’re on the market page for the Theta/USDT trading pair. The first part will show some pricing information and a price chart. This is all interesting stuff, but the part you need to make the purchase is at the bottom, so scroll down.
The right-hand column is for buying USDT with Theta, This is the exact opposite of what we want to do, so we’ll use the left-hand column. In the “Total” box, fill in how much USDT you want to spend. In this case, 100 USDT. We can see here that we'll get 13.603 Theta. After everything is filled in, click on the “Buy Theta” button to complete the process. In a few minutes, your Theta tokens will be in your wallet.
Best Wallets to Hold Theta
Now you know how to buy Theta tokens. Great. But if you’re going to be investing in Theta, you’ll need a wallet to store your tokens. This is very important. Crypto exchanges don’t give you the private keys to your wallet and whoever controls the private keys controls the funds. This means that as long as those tokens remain on the exchange, you don’t really own them; the exchange does.
One thing to consider is that Theta started as an ERC-20 token on Ethereum, but has been running on its own blockchain for some time now. There are still some older reviews out there that say you can store Theta on any ERC-20 compatible wallet, but that’s not the case anymore. You need a wallet that supports the Theta mainnet. Being on its own blockchain means there aren’t as many wallets available, but there are some very good ones. Here are the top five Theta wallets:
|THETA Wallet||Web, Mobile, Chrome extension||Free||Theta mainnet tokens only|
|Trust Wallet||Mobile||Free ||Multi-chain, multi-currency.|
|Cryptonator||Desktop (Windows, MacOS, Linux) and Mobile (Android, iOS)||Free ||17|
|Keepkey Wallet||Hardware||49 USD||Thousands of tokens|
|Ledger Nano X||Hardware||119 USD||1300+|
Theta wallet is the project’s official wallet. It’s available as a web wallet, Chrome extension as well as mobile apps for both Android and iOS. It supports both of Theta’s cryptocurrencies (THETA and TFUEL) as well as any other tokens on the Theta manner. Trust Wallet is one of the most popular mobile wallets out there today.
Available as a mobile app for Android and iOS, it supports many different blockchains and thousands of tokens. Trust Wallet is a good option if you’re looking to keep all your assets in a single wallet. KeepKey and Ledger Nano X are both hardware wallets that can hold not only Theta but thousands of other crypto tokens. Hardware wallets are excellent options for you when security is your top priority. So if you're considering investing heavily in crypto, you definitely want to think about getting a hardware wallet.
More information about Theta [FAQs]
What is Theta
Theta is a global, decentralized, user-driven content delivery service. Theta's developers realized that video streaming platforms like Netflix, Disney+, Amazon Prime Video, and others were struggling with some technical problems arising from the increased popularity of high-resolution content like VR, 4K, and 8K video, which means that the streaming platforms constantly need more powerful, more expensive equipment.
Even then, these high-resolution videos can be plagued with pauses, skipped frames, and other playback issues. Even more, some parts of the world are still offered only low-resolution streaming. Theta was developed as a solution to those issues while reducing costs and giving users control of the service.
How does the Theta platform work?
Theta actually has two data layers. One layer is the video delivery network, which is in charge of the video streaming itself. This layer runs on top of the Theta blockchain, which is where all the Theta token transactions run.
The video delivery network is a peer-to-peer network where consumers can share resources that keep the platform running smoothly while earning rewards at the same time. As the network’s size increases, there are more resources available, and the cost of delivering high-res videos drops. These lower deployment costs would also give benefits and more freedom to content creators.
Is Theta a Good Investment?
As usual, this is the big question. Should you invest money in Theta? It’s not an easy answer in the crypto world. A place is so volatile that a single tweet can drive prices up or down in a matter of mere hours.
Any cryptocurrency's long-term success depends on how successful its blockchain-based platform or project is. Theta is no exception, so let’s look at what the blockchain itself offers: basically a decentralized version of Netflix, capable of delivering high-resolution content at a much lower cost, so consumers get more value for their money and can even be rewarded for sharing their unused computing power. It also wouldn’t have the same geographical restrictions that are so common in other content delivery platforms. All this actually sounds pretty good.
Theta price predictions tend to agree. On January 1, 1 THETA was worth about 2.40 USD and is currently trading at 7.35 USD, meaning it has increased in value by over 300% since then. And this is even before the crash that affected the whole crypto world during mid-to-late April (thanks, Elon) And some predictions say THETA could be worth 18-20 USD by the end of the year. All in all, according to most predictions, yes. THETA looks like a good investment in the mid-to long term.
How to buy THETA: Conclusion
Theta is another very interesting project in the blockchain world. A global video streaming service with no geographic restrictions that can give you better access to high-quality content at a lower price sounds good for consumers. And if that same platform lets content creators distribute their films to more people at a lower cost, then it’s an all-around win. Theta could really be going places.
Now that we’ve shown you how to buy THETA, you know how to do it. But what do you think? Are you considering buying some THETA? Or are you an up-and-coming filmmaker and are considering distributing your next masterpiece on Theta? Let us know in the comments.