Centralized content delivery networks (CDNs) have a limited area of operation, resulting in high load times and video re-buffering in many parts of the world. The centralized nature means fewer revenues to content creators and platforms dictated by these CDNs. With increasing technological advancements, there is a rising demand for high-quality video streaming in 4K, 8K, and higher.
The failure of CDNs is where the Theta network decentralized video streaming platform comes in. Viewers are rewarded with Theta fuel for lending extra bandwidth and resources to network participants. Decentralized peer-to-peer networks deliver high-quality video content with live streaming. The networks also reduce the cost of delivering video streams, resulting in innovations and unique business models.
The sharp recovery in Bitcoin and several altcoins pushed the Crypto Fear and Greed Index to 42/100 on July 30, its highest level since April 6. Bitcoin (BTC) has made a strong comeback in the month of July and is on track for its best monthly gains since October 2021. Bitcoin could trigger buying in select altcoins which includes Theta among four others.
If interested in the Theta token, the first step is knowing how to buy Theta tokens and adding some to your crypto portfolio. No one can really feel the crypto space just by looking but by getting immersed with well-researched coins. You might be looking at the “next Bitcoin” and hardly know if you’re a fencesitter.
Today’s Theta Network price is $1.37 with a 24-hour trading volume of $179,431,502. Theta Network is up 3.33% in the last 24 hours. The current CoinMarketCap ranking is #41, with a live market cap of $1,373,470,865. It has a circulating supply of 1,000,000,000 THETA coins and a max. supply of 1,000,000,000 THETA coins.
Also Read:
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- Theta price analysis: Bears drag price levels down to $2.819 end
- Theta price analysis: Price reaches $6.54 height as bulls secure win
What is Theta?
Theta coin is the native currency of the Theta network. It runs on a dedicated Theta blockchain powered by users with a decentralized video delivery network. The Theta project aims to become the next generation of video streaming and blockchain entertainment powered by the community.
The Theta network is open source. It is open to all partners and developers to build; they can create decentralized applications (Dapps) for their audience. The Theta network extends its utility in music, esports, Television, movies, distance learning, and peer-to-peer live streaming.
Theta Mainnet 4.0
The Theta Meta chain SDK and Theta Mainnet 4.0 are set to launch on 1 December 2022. The upcoming upgrade aims to enable WEB 3.0 businesses in media, metaverse, and entertainment to scale to 10X today’s platforms.
The new technology will enable a new category of media and metaverse businesses to emerge built on a new set of business economics and community-led models, controlled by creators, decentralized, and controlled by creators, IP holders, and users.
Existing models capture 80% of the value created by their platforms in the form of corporate profits, leaving only 10% to creators and 10% to users; new Web3 businesses can thrive and scale by 10x and keep 20% of the value created to themselves. Ultimately, they’re still 200% more successful and can potentially completely displace today’s Web2 businesses.
Areas set for disruption by the decentralized platform and blockchain systems include:
- Video content and streaming sector.
- Live events and ticketing platforms.
- Production houses and movie studios.
- Local games teams.
- Website and content hosting platforms.
- Emerging metaverse platforms.
Where can you purchase Theta?
Knowing where to buy comes only after knowing how to buy the Theta token. The exchanges that support the token are indicative of the demand for it as well.
Most reputable exchanges have listed the Theta token. You can buy Theta tokens on Binance, KUCoin, Huobi Global, Bithumb, Gate.io, Binance.US, Bybit, Crypto.com, WazirX, Upbit, Paribu, Bitbns, CoinEX, Hotbit, and Digifinex.
Binance
Binance is the largest cryptocurrency market in trading volume, with deep liquidity to trade Theta. Binance’s mission is to become the top infrastructure service provider in crypto.
Binance listing confers credibility and there were times when the listing of a token on Binance signals a bullish run, although for a short term. The Binance Effect, however, appears to dissipate over the longer term, according to some analysts:
Take the performance of Binance-listed coins over the long-term as an aggregate against the universe of non-Binance coins taken as an aggregate, and you’ll find no difference that can be slated as statistically significant.
Crypto-pi
Theta trading pairs on Binance include BNB, BTC, USDT, BUSD, EUR, and ETH.
Bitfinex
Bitfinex was founded in 2012 and has grown exponentially over the years. Technological advancements keep Bitfinex ahead of the competition to provide its users with the best trading experience.
Bitfinex provides APIs, professional connectivity, corporate accounts, and advanced chart tools to meet its community’s top demands.
Bitfinex Theta tokens trading pairs are USD and USDT.
KUCoin
KUcoin was founded in 2017 and is today one of the most popular exchanges trading cryptocurrencies. Kucoin has over 8M registered users with operations in 207 countries.
Kucoin Theta trading pair is USD.
Huobi Global
Huobi Global provides a diverse portfolio with 500+ cryptocurrencies. The platform provides world-class security and risk management with a 20,000BTC security reserve, boasting zero security incidents in the last nine years.
Huobi Global Theta trading pairs include USD, HUSD, BTC, ETH, USDC, and USDT.
Crypto.com
Crypto.com was founded in 2016 and today has the fastest growing crypto app with 50M users trading 250+ cryptocurrencies. The exchange has a personalized debit card that quickly makes crypto payments at the merchant stores.
Crypto.com Theta trading pair is USD.
Requirements to buy Theta Token
Requirements to buy Theta Token vary depending on whether the cryptocurrency exchange is centralized or decentralized. Creating an account on a centralized website is a hustle due to Know Your Customer (KYC) requirements from relevant regulators’ websites.
You will need an email address, phone number, and photo ID to start in a centralized cryptocurrency market. The exchanges will request identity verification to meet relevant regulatory requirements.
- KYC requires a photo identity, a webcam, a smartphone, and an identification document or passport. Some exchanges will require further proof of residence and request a recent utility bill or bank statement.
- Some cryptocurrency exchanges allow you to trade without KYC but with lower transaction limits or without local currency deposits. A KYC will be required to get rid of these limits.
- Some exchanges will require you to enable the 2-factor authentication (2FA) method to provide an extra layer of account security. Standard 2FA methods include SMS authentication and google authenticator.
Decentralized crypto exchanges provide a low entry barrier to users. Basic cryptocurrency wallet knowledge is essential when interacting with these exchanges. A decentralized exchange will require you to connect your wallet using your private key to transact.
How to buy Theta Token on Binance Exchange in 3 steps
Binance is the world’s largest cryptocurrency exchange by trading volume with a competitive 0.1% taker, maker fee. Binance has an android and iOS app that you can easily buy Theta. Binance is currently offering a 0.35% APY interest on Theta flexible savings.
Step 1: Set Up a Binance account
- Visit the Binance website. Beware of phishing sites.
- Sign up for an account using your email or phone number. Create a strong password with mixed cases, numbers, and symbols.
- Sign into your Binance account.
- On the accounts menu, click Identity Verification. To complete the process, you will have to download the Binance app to complete the identification process. The process involves taking a selfie and a picture of your verification document. The verification process should complete within 24 working hours; you can proceed to verify your residence for more significant transaction limits.
- On the security tab, set up a 2FA for extra security for your account.
Step 2: Deposit Fiat or Crypto
There are multiple ways to fund your Binance account. Peruse the available funding options to find the most suitable. Binance account funding options include:
- Fiat currencies deposit through Bank Transfer using a swift code, ADVcash, Visa, or Mastercard.
- Credit and debit card deposits.
- Peer-to-peer trading with over 100 payment options
- Third-party payments; Simplex or bank transfer
- Cryptocurrency deposits.
Step 3: Buy Theta Token
You cannot buy Theta on P2P; you must transfer funds to your spot cryptocurrency wallet (on Binance) to buy from the crypto market. Theta trading pairs on Binance include BNB, BTC, USDT, BUSD, EUR, and ETH.
- Select the appropriate trading pair on the spot exchange.
- In the Amount Tab, type the amount of Theta you need.
- Click ‘Buy Theta.’ Repeat the steps to ‘Sell Theta.’
Binance provides several buying options for smooth trading. These include Spot and Margin trading, limit orders, market, trailing stop, spot limit, and OCO order types; the Theta can be transferred to the Binance Earn wallet for passive income with daily interest payouts.
Step 4. (Optional) Get a suitable wallet.
If you need to hold your tokens for a long time, it is recommended to withdraw them to a hardware wallet on a physical device like ledger wallets. The security of hardware wallets is in the hands of its owner; losing your seed phrase (password) will, however, compromise your account.
There are currently a few good Theta wallet options available, including:
- Theta Wallet: The Theta official wallet can be created as a web wallet through thetatoken.org and is now available as a mobile app for Android and iOS. The official wallet can store Theta Mainnet tokens and the ERC20 Theta Token. It also offers support for Ledger and Trezor hardware wallets.
How to buy Theta Token on Bitfinex in 3 steps?
Step 1: Set Up a Bifinex account
- Visit the Bitfinex website. Beware of phishing sites.
- Sign up for an account using your email. You will also be required to set your username and country of residence. Create a strong password with mixed cases, numbers, and symbols.
- You will receive an email from Bitfinex that you must open to verify the account.
- Sign into your Binance account.
- 2FA authentication and KYC are mandatory on Bitfinex. On the menu tab, click Verification. To complete the process, you will have to download the Bitfinex app to complete the identification process. The process involves taking a selfie and a picture of your verification document. The verification process should complete within 24 working hours. You will then have to provide a utility bill as proof of residence.
Step 2: Deposit Fiat or Crypto
There are multiple ways to fund your Bitfinex account. Peruse the available funding options to find the most suitable. Bitfinex account deposit methods include:
- Fiat currencies deposit through Bank Transfer using a swift code, ADVcash, Visa, or Mastercard.
- Credit and debit card deposits.
- On-ramp services in some countries
- Tether and cryptocurrency deposits.
Step 3: Buy Theta Token
To purchase Theta, transfer Funds to the Bitfinex Exchange wallet. Theta trading pairs on Bitfinex include USD and USDT.
- Select the appropriate trading pair on the spot exchange.
- In the Amount Tab, type the amount of Theta you need.
- Click ‘Buy Theta.’ Repeat the steps to ‘Sell Theta.’
Bitfinex provides several buying options for smooth trading. These include Spot and Margin trading, limit, market, trailing stop, stop limit, fill or kill, immediate or cancel, and scale for more advanced traders.
Step 4. (Optional) Get a suitable wallet.
If you need to hold your tokens for a long time, it is recommended to withdraw them to a hardware wallet on a physical device like ledger wallets. The security of hardware wallets is in the hands of its owner; losing your seed phrase (password) will, however, compromise your account.
There are currently a few good Theta wallet options available, including:
- Theta Wallet: The Theta official wallet by Theta labs can be created as a web wallet through thetatoken.org and is now available as a mobile app for Android and iOS. The official wallet can store Theta Mainnet tokens and the ERC20 Theta Token. It also offers support for Ledger and Trezor hardware wallets.
Best crypto wallets to store Theta crypto
Before purchasing a Theta token, select a good crypto wallet to hold your coins, especially if you need to store them for the long term. Crypto wallets give you complete control of your tokens. Theta can be held in an exchange, software, or hardware wallet. These are:
Best hardware wallet
Ledger wallet – trusted by over 4 million users, Ledger makes a good pick. Top ledger features include crypto trading, safe storage, savings with interest, NFT support, and what else, and it comes in various colors.
Best software crypto wallet
The Theta wallet by Theta labs gives you complete control of your tokens. The wallet can easily be synchronized with the ledger and Trezor wallets; the Theta wallet is unlocked using a mnemonic, Keystore, private key, or synchronized hardware wallet.
Where can the Theta Token be traded?
Theta tokens are traded on Binance, KUCoin, Huobi Global, Bithumb, Gate.io, Binance.US, Bybit, Crypto.com, WazirX, Upbit, Paribu, Bitbns, CoinEX, Hotbit, and Digifinex.
How to trade Theta Token, Step by Step
Step 1. Select a Cryptocurrency Exchange
You can trade Theta by signing up on a reputable crypto exchange account. Cryptocurrency trading involves taking a position in a coin’s value instead of purchasing it. Day traders use this technique to profit from crypto trading daily by leveraging order types, chart strategies, and low transaction fees. Here are some places to trade Theta:
- Huobi Global
Huobi Global provides a diverse portfolio with 500+ cryptocurrencies. The platform provides world-class security and risk management with a 20,000BTC security reserve, boasting zero security incidents in the last nine years.
Huobi Global Theta trading pairs include USD, HUSD, BTC, ETH, USDC, and USDT.
- Crypto.com
Crypto.com was founded in 2016 and today has the fastest growing crypto app with 50M users trading 250+ cryptocurrencies. The exchange has a personalized debit card that quickly makes crypto payments at the merchant stores.
Crypto.com Theta trading pair is USD.
The cryptocurrency market is highly unregulated; therefore, trading Theta carries a high risk. A good bet could, however, result in high profit for the day traders.
Step 2. Deposit funds
Cryptocurrency exchanges provide a variety of ways to fund your account. Binance has over 200 payment methods on its P2P trading platform. Crypto.com has a debit card that makes it easy to make payments and deposit funds. Regulated exchanges also allow direct bank transfers into their accounts using SWIFT codes. Deposit fees will vary depending on the exchange and mode of deposit.
Step 3. Pick a Trading Strategy
Research on a trading strategy, most crypto trade methods essentially entail speculating on the price movements of your chosen currency.
Step 4. Start trading
If you’re a complete novice, researchers recommend starting with a demo account and familiarizing yourself with the process and your chosen platform. Crypto trading is volatile, meaning you can make and lose money quickly, so it is essential to know what you’re doing before trading with real funds.
Crypto traders speculate on a currency’s price movements by taking a short or long position. If you expect Theta to fall in value, you should take a short position; if you think it will rise in value, you should take a long position.
Margin trading enables you to incorporate leverage into your trading strategy. Leveraged trading allows you to trade with borrowed funds to make higher returns. A margin call can result in a loss of funds when the market fails to act in your favor. Always make sure you have a stop loss in place to limit losses.
Advantages of Buying Theta
- Dedicated team with top enterprise validator nodes
Theta has an ambitious team of top developers and leaders with previous experience managing other top projects like Steve Chen, Co-founder of Youtube. Theta platform enterprise validators include Google, Samsung, Sony, Binance, Sierra ventures, Blockchain.com, Gumi, CAA, DVHC, and Private Equity Institutional Group.
- Community Tokenomics
The Theta token is decentralized and built for the community. Blockchain technology ensures fair compensation for content creators, node operators, and resource lenders; the upcoming Theta 4.0 is expected to revolutionize streaming content. The site compares the early internet disruption to the early internet days. Users can earn passive income by staking their tokens on the network.
- Roadmap
Theta has undergone several technological advancements since its inception, increasing its value. According to Theta’s 4.0 whitepaper, there is much room for growth and utility for the Theta ecosystem. These advancements give Theta an edge above its competitors.
Risks of buying Theta
- High Volatility
The cryptocurrency market is highly volatile, and crypto trading carries significant risks. In 2022, the crypto market traded in a bear market affecting all altcoins despite the real growth in their ecosystems. It is difficult to predict the future performance of the Theta token.
- Centralized Ownership
A centralized entity runs the Theta ecosystem instead of a decentralized autonomous organization (DAO), making it prone to misuse by bad actors.
Should you buy Theta?
Yes. Theta would make a profitable investment. Cryptocurrency investments should, however, consist of a small portion of your portfolio due to their high volatility.
The Theta project has a great roadmap full of utility for its community. The details in their whitepaper suggest that the project will be a game changer as we transition into WEB 3.0.
Theta’s past performance is correlated with the sentiment of the crypto market. The coin reached its all-time high in the bull market of 2021 and lost over 80% in the 2022 bear run; Theta will be highly profitable in the next bull run with no likelihood of a market crash.
Always conduct your research before investing in financial markets to trade cryptocurrencies.
