How To Buy Theta (THETA)?

A common question you often see on social media from crypto beginners is “Where can I buy Theta?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. 

Step 1: Create an account on an exchange that supports Theta (THETA)

First, you will need to open an account on a cryptocurrency exchange that supports Theta (THETA).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Theta (THETA) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Theta (THETA)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Theta (THETA) or Theta (THETA) trading pairs. Look for the section that will allow you to buy Theta (THETA), and enter the amount of the cryptocurrency that you want to spend for Theta (THETA) or the amount of fiat currency that you want to spend towards buying Theta (THETA). The exchange will then calculate the equivalent amount of Theta (THETA) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Theta (THETA) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

What Is THETA (THETA)?

Theta Network is the leading video delivery network powered by blockchain technology. Theta allows users to simultaneously watch video content and earn token rewards for relaying video to other users who are also watching the same content. In the same vein as other sharing economy models, users opt-in to volunteering their spare bandwidth and computing resources to relay video to other users and earn token rewards for their contributions. Users can contribute to Theta Network on any PC, mobile device, or smart TV.

For video platforms, integrating Theta into their video delivery stack enables them to reduce their video delivery cost, deepen viewer engagement, and drive incremental revenues. By spending less on video delivery infrastructure, and more on rewarding their users, Theta-enabled video platforms can grow their userbase and gain market share.

The Theta Blockchain is a purpose-built blockchain designed from the ground up for video and data relaying launched in March 2019. Theta’s unique multi-BFT consensus design combines a committee of 20–30 Enterprise Validator Nodes with a second layer of 1000s of community-run Guardian Nodes. Validator Nodes propose and produce new blocks in the chain, while Guardian Nodes seal blocks and act as a check on malicious or otherwise non-functional Validator Nodes. As of December 2020, Enterprise Validator Nodes on Theta are run by Google, Blockchain Ventures, Samsung, Sony Europe, Binance, gumi Cryptos, and Theta Labs, with more major enterprises in the process of joining. After the Theta 2.0 launch in May 2020, Guardian Node counts quickly ramped up. Currently, there are more than 3,000 Guardian nodes run by the Theta community members.

The Theta blockchain mainnet enables the support for Turing-complete smart contracts. Smart contracts open up a whole new set of user experiences and new attribution models for DApps built on the Theta network. For example, leveraging smart contracts on the Theta network could enable fully digitized item ownership, innovative payment-consumption models, transparent royalty distributions, trustless crowdfunding mechanisms, and much more. This provides an additional layer of social and economic interactivity that supplements the core functionality of video and data delivery, and significantly increases the engagement and retention of platform users.

In addition to the Validator and Guardian Nodes, the Theta community members also host the Theta Edge Nodes, which form the Theta Edge Network, a fully decentralized network for data delivery and more generally edge computing. As of April 2021, this edge network has grown over 30,000 nodes, covering all the corners of the world. Following Theta 2.0, the capability of the Theta Edge Node network was significantly enhanced with the release of Theta’s industry-leading peer-to-peer “EdgeCast” technology. This new fully decentralized technology stack adds the ability to capture live video, transcode it in real-time, cache and relay live stream video data to users globally – all through Theta’s P2P edge network run by thousands of community members. Not a single central server or service is used in this pipeline. This is a huge challenge and huge accomplishment.

The Theta Network features a dual token design. The Theta Token (THETA) is the governance token of the Theta protocol. THETA is used to stake as a Validator or Guardian node, contributing to block production and the protocol governance of the Theta Network. By staking and running a node, users will earn a proportional amount of the new TFUEL generated. The supply of THETA is fixed at 1 billion and will never increase. Theta Fuel (TFUEL) is the operational token of the Theta protocol. TFUEL is used for on-chain operations like payments to Edge Node relayers for sharing a video stream, or for deploying or interacting with smart contracts. Relayers earn TFUEL for every video stream they relay to other users on the network. You can think of Theta Fuel as the “gas” of the protocol. There were 5 billion TFUEL at genesis of Theta blockchain, and the supply increases annually at a fixed percentage set at the protocol level. In December 2020, Theta Labs announced Theta 3.0, which introduces a new crypto-economics design for TFuel, in particular, the concept of TFuel staking and burning. This will greatly expand the capacity and use cases of the network and maximize the utility value of TFuel.

Theta development updates in 2023

Theta Network has made significant strides in 2023, with several key developments enhancing its decentralized video streaming capabilities:

• Theta Network Protocol Updates: The Theta Network Protocol, utilizing blockchain technology, offers a decentralized peer-to-peer network for better video streaming and distribution. It addresses issues like high costs, poor quality, and limited reach of conventional streaming platforms. The network operates on a dual-token system comprising Theta Token (THETA) for governance and staking, and Theta Fuel (TFUEL) for on-chain transactions. The proof-of-stake consensus mechanism improves scalability and energy efficiency, compared to traditional proof-of-work systems​​.

• Decentralized Streaming Infrastructure: One of the primary goals of Theta Network is the development of a decentralized streaming infrastructure. This structure eliminates the need for centralized servers, allowing content creators to broadcast directly over the network and viewers to receive streams from other users’ devices. This peer-to-peer architecture enhances video broadcast efficiency, reduces content delivery costs, and improves streaming quality​​.

• Reputation System and Interoperability: Theta Network employs a reputation system to ensure network reliability and quality. Higher reputation scores increase the likelihood of being selected as relayers, thereby enhancing the streaming experience. Additionally, the Theta protocol is designed to be compatible with existing video systems, allowing for integration with popular streaming services​​.

• Partnership with ONE Championship: In a notable development, ONE Championship, a Singapore-based mixed martial arts, Muay Thai, and kickboxing promotion, announced a partnership with Theta Network to launch its first-ever non-fungible token (NFT) marketplace. This marketplace will feature NFTs celebrating ONE’s athletes and their memorable moments​​.

• Theta’s Roadmap and Token Unstaking: Theta Network has unveiled an updated roadmap that includes enhancements to the Theta Metachain and Theta Video API. Also, Theta Labs announced the unstaking of an additional 15 million Theta from its validators to fund future events and support network growth​​​​.

These developments mark Theta Network’s ongoing commitment to revolutionizing the video streaming industry through decentralized technology and blockchain integration.

Official website: https://www.thetatoken.org/

Best cryptocurrency wallet for THETA (THETA)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for THETA (THETA)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).