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How to Buy Theta - Where to Purchase THETA?

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Founded in March 2019, Theta blockchain is a specialised decentralised network designed for video streaming. On this network, users share their computing resources as well as bandwidth through a P2P protocol.

Just like any other blockchain network, Theta also has a native coin called THETA. The cryptocurrency performs a multitude of governance tasks and at the time of writing is being traded at just over $9.00 with a market capitalisation in excess of $9 billion.

Since Theta has seen substantial gains in the last couple of months, we are going to focus on how to buy Theta using different methods and platforms. Through this article, we will ensure that you know everything there is to know about buying THETA.

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Choose your cryptocurrency by clicking ‘Trading Markets’, set your risk limit and click ‘Get Started’ to start your investment strategy
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Why Trade Rather Than Buy Theta for Cheap and Fast Returns?

1

No Wallet Requirement

Instead of buying and storing Theta, you bet on the price movements and pocket the difference.

2

Support for Popular Payment Methods

Brokers aren’t only regulated but they also accept a wide range of popular payment methods including debit and credit card.

3

Quick Trades and Easy Withdrawals

Instead of going through a drawn-out process, you can trade within minutes while withdrawals can be done immediately.

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5 Things to Consider If You Want to Buy Theta

Prior to purchasing Theta, you need to take key factors into consideration ensuring all of your transactions are secure.

Carefully choose your preferred secure payment method

The first thing that you need to account for is that different countries support different payment methods around the globe. We cannot cover all the payment methods here. That being said, you need to consider the reliability, security, and speed of every payment mode before you go through the buying process.

Will you need to set up your own wallet?

If you want to store your Theta for more than a few weeks, a cryptocurrency wallet is highly recommended to secure your digital assets. It should be kept in mind that integrated wallets present in your exchange's account are more vulnerable as compared to dedicated software and hardware wallets. On the other hand, if you are trading Theta using CFDs or other investment drivers, you don't need a crypto wallet.

Comparing costs

Before you invest in Theta, it is advisable that you compare and calculate the cost of buying the digital currency. Apart from the network's own fee, you also need to take transaction charges, commissions, and other types of expenses into account. If you are using a cryptocurrency as your primary payment mode then it'd be more affordable as compared to fiat currencies.

Safety and security 

You have to keep in mind that different blockchains use different protocols and technologies to ensure the safety and security of their network. Some of the most popular security features include decentralisation, peer-to-peer networks, and public and private key encryption. 

Theta has deployed a unique financial incentive option to promote user participation in the governance of the Theta network. That's why the decentralised network is secured by the users who stake their tokens to validate the chain. The Theta network uses a proof-of-stake (PoS) protocol along with a multi-level Byzantine Fault Tolerance (BFT) mechanism for mutual consensus to ensure there's a good balance between the network's security and quick transaction scalability.

Theta network also reinforced its decentralisation efforts by launching Guardian nodes in June 2019. These nodes ensure that there is no single entity that can exercise control over the majority of Theta that are being staked at any given moment. This way no singular individual or group has undue influence over the network or its governance.

Can you understand and navigate the platform?

When deciding on the broker or exchange you will use to buy THETA, it is recommended that you make yourself familiar with several platforms so you can determine which is most accommodating of your needs and personal preferences. It is a good idea to find a user-friendly platform before you invest hard cash into your account.

Ultimate Beginner’s Guide to Trading Theta 

What is a Theta Broker?

Some online brokers act as providers of financial services relating to Theta. They offer access to derivative products such as CFDs (contracts for difference), as well as futures and options contracts. Brokers don’t typically enable clients to exchange fiat money for actual Theta tokens, but instead, allow for speculation on the token’s value. 

Since Theta is relatively a new cryptocurrency in the digital assets market, there are few brokers who allow you to trade Theta. Before you select a broker, make sure that they sell or trade Theta.

What is a Theta CFD?

CFD stands for Contract for Difference which is a trading instrument that allows you to trade Theta and other cryptocurrencies without actually purchasing them. Theta CFDs enable traders to bet on price movements of the cryptocurrency by executing buy and sell orders.

CFD trading of Theta is quite beneficial for traders as it allows you to make financial gains regardless of the market situation. Purchasing Theta means you will have to wait for the price increase until you can make a profit. On the other hand, trading CFDs allows you to profit regardless of the price increasing or decreasing. It depends on your own speculation and analysis.

What is the Benefit of Theta Regulation?

Since cryptocurrencies including Theta are now as frequently traded as other conventional investment drivers, financial regulators all across the world have started to legislate trading and buying of digital assets. While regulations make Theta trading a bit inconvenient, they also ensure that your personal data and funds remain secure. These regulations help brokers in providing a safe trading environment.

What is the Best Payment Method for Buying Theta?

In order to buy Theta, you can use a multitude of payment modes, which highlights the growing popularity of THETA. That being said, keep in mind that payment methods will differ from country to country and broker to broker. That's why it is necessary to weigh up your options before investing.

Buying Theta with PayPal

PayPal is one of the most popular payment processors for online retail purchases. It has become as common as cash in the online market of products and services. When it comes to purchasing Theta with PayPal, you can do so through a number of brokers but there are cheaper and more convenient options available.

PayPal isn't available in many countries and only a few brokers offer the payment method. With the increasing popularity of cryptocurrencies, PayPal has taken initiatives to support as many coins as possible but it will take a few more years for PayPal to become as popular as debit and credit cards.

Buying Theta with Cash

While buying Theta with cash bears no charges, it is almost impossible to do so. No broker or exchange supports the option and you will have to find someone who is in possession of Theta tokens and is willing to sell them for cash. This means that you need to look at other payment methods since paying with cash is a long and risky process.

Buying Theta with Bank Transfer

Bank transfer is another popular payment mode for buying Theta as it doesn't incur substantial transaction charges. Using this method also means that it is more convenient for you to send and receive your funds through a broker. Having said that, you need to bear in mind that a bank transfer is a time-consuming payment mode and you cannot expect to buy Theta instantly using this method.

Buying Theta with Credit Cards or Debit Cards

If you are looking for the most convenient and quickest way to buy Theta, then using a credit or debit card is the best option. However, that convenience comes at a price as you will have to pay a transaction fee which is considerably higher compared to other payment methods.

The Verification Process for Trading Theta 

When you register on a broker website, you will have to go through the personal identity verification process. This is done to ensure compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations to provide a safe trading environment. You will be required to provide some government-issued identification such as a passport or driver's license. Although this adds another step to the buying process, it also ensures your data and funds remain safe.  

Theta: Long vs Short Term Investment

Buying and selling of Theta based on short-term fluctuations can deliver a quick profit but is also riskier, while a longer-term strategy requires an understanding of the markets and poses challenges in terms of timing and exit. However, the long-term strategy has the advantage of holding the tokens themselves, much as many people hold gold sovereigns and other gold-based products.

While short-term trading can bring you quick cash, it is also riskier as compared to long-term trading. In a long-term strategy, you need to have a comprehensive grasp of the crypto market and the factors that can drive the price. This way you can buy Theta when the market is low and then store the currency in your wallet until the price is high enough to make potentially substantial gains.

Why Buy Theta Rather Than Trade?

Many traders search for how to buy Theta and if buying the coin is more profitable as compared to trading. You've to keep in mind that both strategies can be profitable and there are certain benefits of buying Theta.

For starters, buying Theta means that you actually own the digital commodity which you can store, sell, and spend any time you want. This strategy is usually utilised by long-term traders who are looking to make big financial gains in the long run.

Apart from that, it is also financially more secure to buy Theta as compared to trading it. Owning and storing the coins for the long-term means that you are no longer vulnerable to sudden price changes which can wipe out your capital. Day traders are often only financially motivated while long-term Theta buyers have faith in the project and they bet on its success.

One of the major advantages of buying Theta is having complete control over your own coins. Although brokers and exchanges have come a long way in terms of security, they are still vulnerable to cybercrimes and market crashes which can make it quite difficult for you to access your digital tokens. You also have to pay less for storing your Theta in a wallet as compared to using an online platform.

While all the advantages are great, you must remember that buying Theta is a process that requires you to be fully invested. You should do your research and examine market factors before going all in. Apart from that, you also need to find out which wallet is the best for storing Theta according to your personal investment requirements.

What Fees Are Involved in Buying Theta?

Whether you are looking to trade or buy Theta, you will have to pay different kinds of trading fees, especially when you are using a popular crypto exchange. That being said, the charges are often low particularly when you are buying and storing the tokens on your own. Some of the expenses that you might need to pay include the following:

Transaction Fees

Theta transactions need to be validated and processed by network participants. These people naturally need to be paid for the services, which results in transaction fees. It is usually between 0.1% and 0.2% of your total trading amount depending on the broker or cryptocurrency exchange you are using. That's why it is a smart idea to find out the transaction fees of every platform before investing.

Deposit Fees

There are some brokers and exchanges that will charge a deposit fee and the amount varies from one platform to another. That's why it is important for traders to find out if there's any deposit fee on their selected platform.

Withdrawal Fees

Once again, withdrawal charges for Theta are dependent on the exchange or broker you are using. Keep in mind that many crypto platforms will not charge you for withdrawals, so it's financially beneficial to find out about such platforms.

Safely Storing Your Theta 

If you want to store your Theta in a safe manner, then you will need to use a cryptocurrency wallet that supports Theta. They come in different variants including software and hardware wallets.

Web Wallet

Web wallets are often integrated into your preferred broker or exchange website. They provide one of the most convenient ways to store and hold Theta. Web wallets offer convenience and better accessibility but are more vulnerable to security threats as compared to other types of wallets. Coinbase’s exchange wallet is an example of a web wallet.

Mobile Wallet

These are software wallets that have been specially created to work on mobile devices so you can trade Theta on the go. As compared to web wallets, mobile wallets offer better security and a wide range of trading features as well. If you are looking for a mobile wallet for storing coins, then Theta Wallet for iOS and Android is a great option.

Desktop Wallet

These are like software programs which you can install on your desktop as well as laptop computers. They are not as convenient to use as mobile or web wallets but are comparatively more secure, especially if your computer isn't connected to the internet. Desktop wallets secure your funds using features like two-factor authentication and passphrases.

Hardware Wallet

If the security of your Theta is the top concern then hardware or cold wallets are the best options to store your digital currency. Hardware wallets secure your private keys on a physical device that's not connected to any other device via network making it impossible to transfer data. They are also invulnerable to viruses and other types of malware. Some of the most popular wallets that you can use to store Theta include Ledger Nano X, Ledger Nano S, and Trezor Wallet.

What Other Coins Can I Trade or Use to Buy Theta?

Apart from conventional fiat currencies, you can use a wide range of cryptocurrencies to purchase or trade Theta. One of the most popular cryptocurrencies to buy Theta is Ethereum but you can also use BTC, XRP, and other altcoins. Using a cryptocurrency makes the process much easier and more affordable as you don't have to convert your fiat currency into digital money.

What’s the Smallest and Largest Amount of Theta I Can Buy?

Many traders want to find out how many Theta they can buy while many want to figure out the smallest unit of Theta that is available to buy. You have to keep in mind that THETA is the smallest unit you can purchase and since there are 1 billion coins in circulation, their market price will never be too high to turn the lack of smaller units into a problem.

Most brokers and exchanges will ask you to verify your identity before you can purchase Theta. Identity verification is necessary because of compliance with AML and KYC regulations which ensure your funds remain safe and secure. That's why it is highly recommended that instead of looking to purchase anonymously, you should buy Theta using a secure and regulated broker or exchange. 

However, in the event that you buy Theta from a platform that allows you to purchase anonymously, make sure you've done your homework and take all the steps necessary to save your funds. Your transactions will remain untraceable if you buy anonymously.

Will Buying Theta Make Me Money?

This is a question that you will need to answer by familiarising yourself with all the ins and outs of the Theta network and its cryptocurrency. In recent months, the Theta has witnessed substantial growth which has led to many investors and traders buying the coin as they believe in its long-term success. It is recommended that you read opinions and analyses of market leaders, learn to read charts and graphs, and observe other market factors that can potentially affect Theta's price.

How to Spend Your Theta

Since Theta is relatively a new cryptocurrency as compared to Bitcoin and Ethereum, it is still in its growth and development phase. This means that there aren't many online or retail outlets that currently accept Theta as a valid payment mode. That being said, cryptocurrency is growing in popularity due to strong support from the development and trading market communities. Furthermore, Theta tokens can be used on the Theta blockchain to pay for various forms of content, recently including NFTs (non-fungible tokens) from the World Poker Tour.

How to Sell Your Theta 

Selling Theta via a broker is comparatively easy and straightforward. The easiest way to sell Theta is through a brokerage or exchange. You will find this option to be one of the most fundamental features on a number of platforms including exchanges and broker services.

If you hold Theta CFDs, these are liquidated with the broker you made the agreement with.

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Frequently Asked Questions

  1. Theta was co-founded by Justin Kan, who is also the co-founder of Twitch and is currently advised by Steven Chen, who is the co-founder of YouTube.

  2. Theta is a new cryptocurrency that was launched in March 2019 and that's why it has not yet caught a lot of attention in the market. However, in the last couple of months, the price of the coin has surged due to the renewed faith in the long-term success of the cryptocurrency.

  3. Unfortunately, it cannot be mined. Theta uses a proof-of-stake (PoS) protocol which works through staking coins instead of mining or work.

  4. Theta is governed by Justin Kan and Steven Chen but the network isn’t under anyone’s control. It is a highly decentralised platform that has deployed guardian nodes so no single individual or group can control the majority share of Theta being staked at a given moment.

  5. It depends on the country you are in. Check local regulations and laws before you invest in Theta or any other cryptocurrency.

  6. Theta is vulnerable to market factors including supply and demand dynamics which can increase or decrease quite quickly. That’s why Theta and other cryptocurrencies witness such dramatic fluctuations.

  7. The main purpose of the Theta network is to support a video streaming service that's decentralised and not hosted by a single entity. That's why it may never become a traditional payment network.

  8. Once again this depends on the tax laws in your country. Check your taxation laws to find out if you will need to pay taxes on capital gains.

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