What are the best places to store THETA coins? This guide will give you the right answer based on user experience and the overall popularity of crypto wallets.
The Theta ecosystem offers a video delivery network that is currently backed by nodes that share bandwidth to users. The network will be offering decentralized video content services to individuals that are using this platform. In addition to it, the Theta blockchain will provide an incentive to users that enjoy the network, use it, and provide help and support to other users.
Moreover, this innovative blockchain network uses the THETA token as a medium of exchange for governance and TFUEL as a utility token for video and data delivery. In the past years, Theta as a blockchain network witnessed massive growth and is currently the 13th network in the world valued at $11 billion.
If you are an investor who owns some Theta tokens already, it might be good to know what the best places to store Theta tokens are. Additionally, this guide will show you the most reliable options for storing and sending Theta tokens using a cryptocurrency wallet.
How Does a Cryptocurrency Wallet Work?
A cryptocurrency wallet is a software program or hardware device that stores users’ private keys. This is the safest way to keep your virtual currencies safe at all times. If you purchased THETA at an exchange, you would also like to know where to store THETA coins.
Hardware wallets are usually safer than software wallets. However, in terms of comfort, software wallets are more user-friendly than their hardware counterparts.
Best Theta Wallets: Overview
To make it easier for you, we have created a short list of the best places to store THETA / TFUEL:
- Ledger Nano – The most secure cryptocurrency hardware wallet to store your crypto offline
- Trust Wallet – Software wallet that stores the private key on your phone and allows you to hold and stake 20+ coins
- Theta Wallet App – App developed by the Theta team that allows you to securely manage and store Theta and TFUEL tokens on your phone
- Theta Web Wallet – Official Theta web wallet that only can be used in your native web browser
- Theta Chrome Extension – Chrome browser users can use this lightweight wallet designed by the Theta team
The Safest Exchanges to store Theta tokens
Binance and Kucoin are the safest exchanges to store THETA tokens. Let’s start with Binance and why this platform became one of the most popular in the market.
Binance is among the largest crypto exchanges in the world. The platform was released back in 2017 when the bull market in cryptocurrencies was reaching its top. Since that moment, Binance didn’t stop growing.
The exchange has launched dozens of new projects and solutions for users to get access to virtual currencies. Nowadays, it is one of the trading platforms with the largest volumes and it is also a great fiat on-ramp exchange.
Moreover, besides trading and storing THETA, it’s also possible here to use TFUEL on the USDT and BTC pairs 👍.
Kucoin, instead, is a cryptocurrency exchange that expanded thanks to its light KYC requirements. Users could register to the platform only with an email account and a password. Although the platform has implemented some KYC procedures, it is also a great platform to exchange some of the most popular tokens in the market.
Nowadays, both Binance and Kucoin are strong competitors, but both of them are the best exchanges to hold your THETA coins. Both of these platforms take security very important. Although exchanges are not the safest place to store digital assets, selecting secure exchanges reduces the chances of being exposed to hacks or attacks.
Kucoin and Binance have increased their security features in order to avoid problems with users. In this way, users can easily use these platforms not only to buy and sell digital assets but also to engage with the entire crypto ecosystem.
Where to store THETA tokens offline?
A hardware wallet is needed to store your THETA tokens offline. This is one of the most important things to do if you are a long-term holder. Why? Simply because you are less exposed to attacks and hacks.
When we use hot wallets such as software wallets, hackers could get access to our wallet or funds through virus or attacks. Our private keys are stored on our devices and they could be accessed by malicious parties. This is why it is definitely important to hold and store your coins offline.
Therefore, the best place to store THETA offline is a hardware wallet. In addition, Ledger is the best solution currently available for users that want to protect their funds at all times. While some users would prefer to use software wallets due to comfort, hardware wallets are the best solution for long-term holders.
Best places to store THETA tokens
Luckily, there are different options available in storing THETA and TFUEL coins. The next sections will focus on the different places to store THETA, how to use them, and more.
As mentioned earlier, Ledger is one of the most popular hardware wallets in the market. This is the preferred wallet for investors that hold their coins offline. Thus, Theta holders would certainly find Ledger one of the best places to store THETA coins.
There are different Ledger models. The most purchased Ledger wallets are the Ledger Nano S and the Ledger Nano X. Both of them are very useful and portable but the Ledger Nano X works with Bluetooth, has a better screen and it supports a larger number of apps.
In particular, one of the main benefits of using a Ledger device is that the wallet uses a built-in exchange feature. Additionally, you can purchase new THETA coins and send these to your Ledger wallet instantly. This feature uses a third party(Coinify) so buying comes at a cost: 4.5% credit card fees or 1.7% for bank transfers.
How to send THETA to Ledger Nano
Firstly, I want to mention that Theta isn’t officially supported by Ledger mainly because it isn’t an ERC20 token like many other Ethereum coins. So if you are having issues it’s wise to go to Theta because they only can offer support for their Web Wallet including the hardware wallets.
- Go to the Theta Web Wallet and click ‘Hardware’
- Choose your hardware wallet (Ledger)
- Make sure the Ethereum app is open on your Ledger device (Theta is its own blockchain, but hardware wallet access leverages the Ethereum app since Ethereum and Theta use compatible cryptography)
- Now create a new Ethereum address
- Restart your Ledger and select the newly created ETH address to continue
- Your wallet has now been unlocked, and you can send/receive THETA/TFUEL tokens on your Ledger device.
|⚠️ Warning: Always make sure to buy your Ledger Nano devices from the official online store. In fact, third-party sellers have been known to tamper with Ledgers.|
Trust Wallet is one of the most popular multi-currrency wallets for users in the crypto space. The company has been expanding over the last years and it became one of the most used wallets in the market.
The main benefit of this hot wallet is related to the fact that they offer support to different blockchain networks. In this way, users that love holding and buying different virtual currencies can hold them all in just one place.
As a result, Trust Wallet is one of the best places to store THETA tokens. The reason behind that is due to the easy-to-use interface of this wallet and the large number of tokens supported. Trust Wallet is certainly a leader in the market and one of the best wallets to use.
How to send THETA to Trust Wallet?
If you want to send THETA to Trust Wallet, the following short steps are needed:
- Download and install Trust Wallet for free
- Create your crypto wallet
- Store your private keys in a safe place
- Add a Theta cryptocurrency wallet
- Search for the wallet address and send funds to it
- (alternative to the previous step) Use the QR code offered by Trust Wallet, scan it, and send THETA to it
|*Remember you can only send THETA tokens to this address. Sending other virtual currencies could result in the loss of your digital currencies.|
How to add TFUEL to Trust Wallet?
Besides THETA, it’s also possible to send TFUEL to Trust Wallet. To find TFUEL on Trust is very simple:
- In Trust Wallet, click on the ‘+’ icon above in the corner
- Now type ‘Theta’ in the search bar
- Theta and TFuel appear as options
- Click ‘+’ to add TFUEL as a wallet
Theta Wallet App
The Theta Wallet APP allows you to securely manage and store your native Theta and TFUEL tokens on your mobile phone. In other words, it is a software or hot wallet that stores your private keys on the device.
Theta Wallet App on Android
Below some facts and figures if you are planning to install the wallet on your Android device.
- Staking on mainnet available
- Size 46 MB
- Minimal reguirements: Android 5.0 and higher
- Last Updated: June 2020
- Overall rating: 4.1
Theta Wallet App on IOS
Below some facts and figures if you are planning to install the wallet on your IPhone iOS device.
- Staking on mainnet available
- Size 86 MB
- IPhone requirements: iOS 10.0 and higher
- IPod Touch requirements: iOS 10.0 and higher
- Mac requirements: macOS 11 or higher
- Overall rating: 4.1
Theta Web Wallet
The Theta Web Wallet is also an option if you want to store THETA or TFUEL tokens where you have an access to them from anywhere in the world. Currently, this wallet is available for all mainstream browsers including Firefox, Chrome, IE, or Opera.
Furthermore, this web wallet is also designed by the Theta team and supports storing private keys on hardware devices. A good example is the Ledger Nano explained earlier in this guide.
Using this wallet is very straightforward, where you can create a new wallet or connect to an existing wallet by using a private key or mnemonic phrase. All this from within your native browser!
Sending TFUEL to Theta Web Wallet
Besides THETA tokens, the THETA mainnet also uses TFUEL as utility token. To send TFUEL to this wallet you have to create a THETA wallet first.
Once done, you can just deposit TFUEL to your THETA wallet address where the wallet will automatically stores TFUEL for you there.
In other words, you don’t need to worry about creating a seperate TFUEL address where the wallet will take care of it. Besides, this goes for every THETA address on the blockchain and isn’t a special feature of this wallet.
Theta Chrome Extension
Finally, there is another option available for Chrome browser users specifically. The Theta team also designed a Chrome extension which you can add by visiting the Chrome Webstore and search for Theta wallet.
This Theta Wallet is an extension for accessing distributed applications (Dapps) on the Theta Network right from your browser!
This wallet also lets you create and manage your own accounts (via private keys, etc), so when a Dapp wants to perform a transaction and write to the Theta Blockchain, the user gets a secure interface to review the transaction, before approving or rejecting it.
Some features and data of this Chrome extension:
- Size: 1.37 MB
- Language support: English
- Lightweight: for storing and sending THETA / TFUEL
If you recently acquired some brand new THETA or TFUEL tokens the most common way to hold them is in a cryptocurrency wallet. Additionally, if you are not planning to trade these coins on exchanges then there are numerous options available to store them.
Eventually, in this guide, I showed you the best platforms to store THETA whether it is offline, in a software wallet, or on your device or cell phone. Stay safe!
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