This guide covers all ingredients according to Theta cryptocurrency. Also an answer to the question ‘Should I Invest in Theta’ and the best places to invest.
Theta (THETA) is one of the largest cryptocurrency in the world and it has been expanding as a decentralized video delivery network. The main goal of the Theta blockchain is trying to solve the poor quality of the video streaming industry nowadays.
TV streaming services became very popular for gamers and other companies but today’s content delivery networks (CDN) lack reach and create issues such as video re-buffering and high load times. This is where Theta wants to become a leader and create a decentralized peer-to-peer video delivery solution that will be efficient, secure, and fast.
In this article, we will share with you where to buy Theta cryptocurrency, how to invest in Theta, how this network works and which are the services this blockchain is currently offering.
Disclaimer: I’m not a financial advisor. This is for educational purposes only. Never invest more than what you are able to lose. Always request information from your personal financial advisor.
What is the current price of Theta?
Below is the table that shares all actual data of the Theta cryptocurrency. First and foremost, it will give you the actual price(updated once every 24 hours), also it will give you some extra specifics about the network including total market cap and circulation supply of coins.
Actual Theta price(24 hours)
|Total market cap||$1,232,654,657|
|Circulating supply of coins||1,000,000,000 THETA|
|Maximum supply of coins||1,000,000,000 THETA|
*CMC ranking: Ranking of the Theta project on Coinmarketcap website
What is the Theta network token?
The Theta blockchain has been expanding as a network to process payments and reward users that are working in the entire Theta ecosystem. This open-sourced blockchain is ready to support decentralized applications (dApps) that can be run by the network and could use the THETA coin.
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.
If you want to invest in THETA, take into consideration that the Theta network works with the THETA coin.
How Does the THETA Coin Work?
The THETA token is going to be the cryptocurrency that runs on top of the Theta network. These tokens are used to secure the entire blockchain and rewarding content creators for what they show and do.
Furthermore, it may be possible to use the THETA token and cryptocurrency to trade a wide range of virtual products and purchase premium content from users working on the Theta network.
If you are analyzing whether to invest in THETA or not, knowing which are its functionalities will certainly help you to have a clear idea about the digital asset and if you should buy THETA token.
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What does Theta Mean?
There are many definitions of Theta. The most popular one claims that Theta is a measure of the rate of decline of a derivative, in general options, that losses value over time. The official white paper of the Theta network does not provide information about what Theta means.
Theta is also the name given to the eighth letter of the Greek alphabet.
Is Theta the only blockchain streaming platform?
No. There are other cryptocurrencies and blockchain networks that are currently offering similar solutions. For example, VideoCoin, the 468th largest cryptocurrency in the market, is currently offering support and infrastructure to the video content and streaming industries.
Although VideoCoin has the possibility to continue growing, it is far from being a real competitor from Theta. If you are thinking to invest in THETA or to buy THETA token, then analyzing the competitors should be an important thing to do to better have an idea of the possibilities of success that the THETA token has.
Furthermore, another cryptocurrency and blockchain network that could be a competitor of the THETA token is Livepeer. This crypto protocol works as a decentralized video transcoding network that is built on top of Ethereum.
How do I invest in Theta?
If you want to invest in Theta network or buy THETA token, you will have to acquire the virtual currency in any of the platforms that are currently offering support to this digital asset. There are several crypto exchanges that are now allowing users to buy THETA cryptocurrency.
The most popular exchange is Binance. This has the highest liquidity and it helps users buy THETA token in just a few simple steps. Binance will also offer users the possibility to enjoy a wide range of services in the cryptocurrency market.
Take into account that to invest in Theta, you need to also have a diversified portfolio. It is very important to understand that and avoid over-exposing yourself to risky assets.
Is Theta coin a good investment?
At first glance, this question does not have a direct answer. It could be good to invest in Theta if you are then able to profit from a price increase. It would also be a good investment if you are planning to use the network in the future and you want to buy cheap tokens now because you think they will be much more expensive in the future.
You can use Theta if you want to have a diversified portfolio. Then it can be considered a good investment if it meets all your requirements when you analyze the market.
Nevertheless, to answer directly to 'Is Theta token a good investment?'; We consider a project that has gotten in the top 20 of all cryptocurrencies(Coinmarketcap website) and passing the $10 Billion marketcap a good indication that your investment is safe and has room to grow even more 👍
Can you stake Theta?
Yes. You can stake THETA tokens in just a few simple steps and from any type of wallet that supports the THETA cryptocurrency. In order to stake THETA tokens, you will have to buy the virtual currency in any of the exchanges available for it.
|If you are not very familiar with the concept of cryptocurrency staking mechanism or earning passive income, don't worry too much about that 😊. Additionally, I'll advice you to read the articles crypto lending vs crypto staking or best places to stake cryptocurrency. Both guides introduce the concept of cryptocurrency staking very well!|
If you want to stake, you will need a minimum of 10,000 THETA tokens, an internet speed of at least 5Mbps up and down, a CPU with 4 cores or more, and a memory of 8 GBytes. If you meet all these requirements, you will have the possibility to run a Guardian Node.
Guardian Nodes will earn a share of all the Theta Fuel that is generated on the Theta blockchain. Of course, you will receive the funds according to the THETA tokens you have staked.
How do I make a Theta Wallet?
You can create your first Theta Wallet using the official wallet provided by Theta. You can download it on your smartphone, including iOS and Android devices. The set-up will be very easy and it will help you be the real owner of your funds and your THETA cryptocurrency.
If you invest in THETA, the best thing to do is to store your funds in a cryptocurrency wallet. You can also acquire a hardware wallet that will give you the possibility to be even more protected against attacks and hacks.
What Exchanges Sell THETA?
There are different cryptocurrency exchanges that are now offering users the possibility to buy Theta cryptocurrency.
At the moment of writing, you can invest in Theta acquiring its token through Binance, BKEX, OKEx, Huobi Global, Upbit, and Bithumb, among others. You should check which are the exchanges that will offer you the best services, create an account, and buy THETA token.
Can I buy Theta on Binance?
As we have mentioned in the previous sections, yes, you can buy Theta on Binance and have exposure to this cryptocurrency. However, it's important to know that you can't buy this coin directly with USD or EUR(at the moment). Therefore, we would suggest to buy Bitcoin(BTC) with credit card first and later on convert this to THETA(more details on this are also in this guide).
What is TFuel Coin?
Theta Fuel (TFuel) is a native token of the Theta blockchain and it helps the network operate, process transfers, and pay relayers for their video streaming. In addition to it, this token can be used in order to interact with smart contracts that have been deployed on the Theta network.
Furthermore, the Theta Fuel is going to be used to reward stakers on the Theta network. Users that are staking their THETA coins and helping the network will be rewarded with the Tfuel token that is now the 167th largest virtual currency in the world.
Can Theta coin be worth $100?
If you invest in Theta you are for sure curious about which could be the price that the THETA cryptocurrency will reach in the future. If you are wondering whether Theta coin can be worth $100, then you need to think which is going to be its market valuation.
THETA’s circulating supply is currently 1,000,000,000. At a price per coin of $0.7244 as it has now, the market valuation is $724.47 million. However, if THETA token reaches $100 it would have a valuation of 100,000,000,000. This is going to be very difficult for THETA, however, it is not impossible.
Bitcoin alone has a market valuation of $210 billion. The second-largest cryptocurrency in the world, Ethereum (ETH), has a market cap of $42 billion. Thus, at current prices, THETA would be valuated at almost 50% of Bitcoin, which is certainly insane.
Invest in Theta: Cryptocurrency wallets
As explained above, Theta blockchain as a decentralized network is considered reliable and secure, however, it’s wise to take some additional measures to protect yourself. For instance, when you consider buying Theta on a cryptocurrency exchange don’t leave it there. Instead, withdraw the funds to your local wallet on mobile or desktop or even better on a hardware device that can be taken offline immediately. How does this work?
The safest way to invest in Theta token is to store your crypto on a hardware wallet. So why do you need a hardware wallet? First, let me explain what a hardware wallet exactly is. To keep your private key safe, there are currently two options: software wallets and hardware wallets. The definition of a hardware wallet:
“A hardware wallet is a special type of cryptocurrency wallet which stores the user’s private keys in a secure hardware device. They have major advantages over standard software wallets: private keys are often stored in a protected area of a microcontroller, and cannot be transferred out of the device in plaintext.”
In other words, a hardware wallet stores your private keys offline on a device that is disconnected from the internet. To keep your Theta private keys safe I’ll advise you to use the Ledger Nano hardware devices. Below an example of Ledger Nano X.
How to Buy Theta Cryptocurrency with USD
In general, the way buying cryptocurrency works is going to a cryptocurrency exchange sign up with your email account, and start investing. In my opinion, the most reliable cryptocurrency exchange is Binance mostly because of its high liquidity and it's free to sign up. Moreover, if you use this Binance link to sign up, you will get an extra 10% discount on trading fees for life 😁
Step 1: Buy Bitcoin with a credit card
The quickest way to acquire Theta at Binance would be to purchase Bitcoin first. Therefore, you have to click on “Buy Crypto” and select “Credit/Debit card” in the menu.
After entering the amount of USD to buy and doing the actual purchase the Bitcoin will be sent to your online wallet immediately. Remember that buying Bitcoin with a credit card comes with a price: Visa charges you 4.9 – 5.9% for doing this purchase.
Step 2: Trade Bitcoin for Theta on Binance
Binance is very popular amongst cryptocurrency traders because they have a lot of different coins being traded on its platform. To buy Theta with Bitcoin can be done easily and the quickest way would be to perform a market buy order. Also, when doing this trade you only pay 0.1% on fees which is much cheaper than using a credit card for example.
Step 3: Withdraw Theta from Binance
The last step is to withdraw Theta from Binance to your Ledger Nano(or any other local wallet). In particular, by doing this you make sure that the tokens are in full control and safe from bad actors.
Withdrawing cryptocurrency from Binance is very easy, where you go to your “Spot wallet” find your Theta wallet in the list and choose “withdraw”. Also, make sure that you insert the right public key address of your local wallet!
In this exclusive guide about Theta cryptocurrency, I tried to give you all aspects involved in this large-cap cryptocurrency. One of the most important uses cases; streaming video in a decentralized way will be tackled by this solution. As an investor, it’s hard to predict where prices will go in a year or a few years from now. However, this project has proved to add value to this young and rising blockchain industry.
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