initially released as an ERC-20 keepsake on Ethereum, Theta token is among the most promising projects in the cryptocurrency industry. Since its origin, Theta has migrated from Ethereum ’ sulfur network to its own dedicated blockchain. Since Theta uses a proof-of-stake consensus model, the network has significantly lower transaction fees while simultaneously increasing its transaction throughput .
What is Theta?
theta aims to solve the problems with streaming services like YouTube and Twitch by creating a decentralized chopine for content creators. Its blockchain supports smart contracts, similar to Ethereum and Cardano. however, unlike many bright contract-enabled blockchains, Theta already has a work ecosystem and users on its platform. THETA.tv is a decentralized application ( DApp ) on Theta ’ s blockchain that allows users to stream subject without a centralize 3rd-party platform .
Buy Theta Network
Theta has 2 tokens on the platform : theta and Theta Fuel ( TFuel ). Theta token is the native cryptocurrency on the Theta platform and it ’ s used for protocol government. Since Theta is decentralized, token holders can use their tokens to vote on upgrades to the network. TFuel is like to Ethereum ’ south boast and it ’ s used to pay network validators to process transactions on Theta ’ randomness blockchain .
Brief History of Theta
Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch, sour as advisors for Theta. Since theta resembles both Twitch and YouTube in many ways, Kan and Chen are highly valuable to Theta ’ randomness team .
Theta was co-founded in 2018 by Mitch Liu and Jieyi Long. Since the Theta keepsake didn ’ triiodothyronine release right away, the project had to secure fund from individual investors. The plan is presently backed by the likes of Samsung, Sony and several Silicon Valley venture capitalists .
Theta Token began trading in 2018 for around $ 0.20. This was just after the 2017 bull marketplace, and Theta dropped in price aboard about every other crypto asset. The token reached a gloomy of about $ 0.06 in April 2020, before promptly appreciating because of newfound attention on the crypto markets. today, Theta is trading for about $ 10, making it the twentieth largest cryptocurrency by commercialize capitalization .
Step 1: Open an online account.
The best way to buy Theta nominal is through Binance. Depending on where you live, the summons of making a Binance account may differ. If your internet ’ second IP cover is located in the United States, then Binance will redirect you to Binance.us. Binance.us is its exchange for U.S.-based investors, which only features certain services compliant with the Securities and Exchange Commission ( SEC ) .
If you sign up for Binance in the U.S., you ’ ll want to verify your identity before you begin investing in cryptocurrency on its platform. Some information you ’ ll need on hand includes your driver ’ s license number, Social Security number and home address.
While democratic U.S.-based exchanges like Coinbase, eToro and Kraken are big options for beginners, they don ’ metric ton confirm Theta. however, these exchanges make it extremely comfortable to buy a variety of other cryptocurrencies, like Bitcoin, Ethereum, Uniswap and Cardano .
Step 2: Buy a wallet (optional).
Storing your crypto assets on an commute is never a good estimate. respective crypto exchanges have been hacked in the past, as these platforms are big targets for cryptocurrency hackers. Since the substitution holds custody of all their investors ’ funds, a security breach could lead to all of the cryptocurrency stored on the exchange being stolen .
To mitigate this hazard, consider using a dedicate cryptocurrency wallet to store your assets. The two main types of crypto wallets are hardware and software wallets. Software wallets are calculator programs that encrypt your cryptocurrency on your personal computer or mobile device. Hardware wallets are the dependable manner to store crypto, as they use a physical device to store your cryptocurrency offline .
Best Hardware Wallet: Ledger Nano S
Out of the box, the Ledger Nano S won ’ metric ton support Theta. Thanks to its Ledger Live software, investors can make their Ledger wallets work with Theta, and if you ’ ra interest in learning how Ledger Live works, then you should check out this article .
Ledger is a multicurrency wallet, meaning it can store a variety of cryptocurrencies. The wallet supports over 1,000 different assets, including major cryptos like Bitcoin, Ethereum, XRP and any Ethereum-derived token ( such as ERC-20 and ERC-721 tokens ) .
Best Software Wallet: Theta Wallet
Theta Wallet is a cryptocurrency software wallet made by the Theta team. The wallet is accessible for loose via personal computer, and you can create a wallet in a count of minutes. Upon generating a wallet, the program will show a recovery phrase. This convalescence phrase can be used to access your crypto in event you lose access to your wallet, so hold indisputable to keep your seed phrase somewhere dependable .
Step 3: Make your purchase.
once you ’ ve made an account and chosen how to store your crypto, you ’ re ready to make your purchase. Binance supports trade theta with THETA-BTC and THETA-USDT. While the USDT copulate simulates investing with the U.S. dollar, the Bitcoin-Theta pair allows you to trade Theta token with Bitcoin .
Trade, sell or Convert your Theta
When you want to trade or sell your Theta coins, you ’ ll need to send your assets back onto Binance to execute the trade. You can sell your Theta for either Tether ( USDT ) or Bitcoin ( BTC ). Tether is a stablecoin pegged to the value of the dollar, so using Tether simulates selling your investment for cash. alternatively, you can sell your Theta for Bitcoin, leaving you exposed to the cryptocurrency market ’ sulfur price fluctuations .
trade altcoins against Bitcoin is a great way to gauge your performance against the cryptocurrency market. Since Bitcoin is the largest cryptocurrency by market capitalization, some investors like to use Bitcoin ’ s tax return on investment ( ROI ) as the “ standard return ” for the cryptocurrency market.
Read more: Top 6 where to buy ion coin in 2022
Current Crypto Prices
The stallion cryptocurrency market has seen a sharp downturn, which most attribute to Elon Musk ’ s decision to stop accepting Bitcoin as requital for Tesla. even with the markets being down over 20 % from their all-time-highs, most cryptocurrencies are still up over 100 % year-to-date. Depending on whether you believe the market will continue to drift up, this may be a great buy opportunity for you .
Is Theta a Good Investment?
Theta has a credible team with founders who know the industry highly well. Historically speaking, Theta has been a great investment. The mint has beaten the returns of Bitcoin and Ethereum this year, making it an attractive investment for risk-tolerant crypto investors .