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How to Buy Theta Online in 2024
Theta began its life on the Ethereum blockchain but has since migrated to its own dedicated blockchain. It is becoming increasingly popular within the crypto community and naturally has many people asking questions.
In this guide, we cover where and how to buy Theta along with all the things you need to know before you invest. Read on to find out more.
What Is the Difference Between Buying and Trading Theta?
If you are new to cryptocurrency, you may not know the difference between buying and trading Theta. To find out more, check out the overview below.
Buying: Buying Theta simply means using a crypto platform such as an exchange to purchase the tokens. This can be done using fiat currencies such as USD or GBP or even other cryptocurrencies.
Trading: When you trade Theta, you are buying the tokens to sell at a later time for profits. Some platforms even allow you to speculate on the price of the tokens, without owning the underlying asset.
How to Buy Theta Online?
Here are the steps involved when buying Theta tokens.
Step 1: Find an Exchange
There are several factors you should consider before settling on an exchange. First, we recommend developing your investment strategy, knowing your budget, and how much you intend to buy and sell. Check different exchange rates, evaluate their pros and cons, and decide based on all the available information. Ensure that the exchange is regulated before signing up.
Step 2: Sign Up for An Exchange and Deposit Your Funds
Now that you’ve found an exchange, you need to register for an account by inputting your details and providing some ID to verify your identity. Then, follow the on-screen instructions to add your preferred payment method and deposit some funds into your account.
Step 3: Purchase Your Theta Coins
The next step is to find the Theta trading pairs, e.g. THETA/USD. This can be done by locating the search bar which is typically at the top of the page. Then, enter the number of coins you would like to buy and confirm the transaction. The coins should appear in your exchange account shortly after.
How to Trade Theta?
To start trading Theta tokens, this is what you need to do:
Step 1: Sign Up for an Account
Find a crypto platform that supports the Theta token and sign up for an account.
Step 2: Verify Your Identity
Provide ID to verify your identity for regulation purposes.
Step 3: Deposit Funds
Add your preferred payment method and deposit some funds into your account. E.g. USD or GBP.
Step 4: Use the Search Bar
Locate the Theta markets using the search bar and buy the number of coins you wish to trade.
Step 5: Confirm the Trade
When you’re ready to sell, enter the amount of Theta coins you wish to sell and confirm the trade.
The funds should appear back in your account balance shortly after along with any profits you may have made.
What Are the Different Ways to Pay for Theta?
There are many ways to pay for Theta, some of the most common payment methods include:
Bank Transfer: Bank transfers are a speedy and convenient way to buy Theta on an exchange. All you need to do is connect your bank with an exchange account , deposit some funds and purchase your coins.
Credit/Debit Card: Also, many exchanges accept debit and credit card transactions. You can either connect your card with the account or pay for the coins by typing in your details every time you make a purchase.
PayPal: If you already use PayPal, it’s worth checking to see if your exchange/brokerage account accepts it as a payment method. That way you can transfer money in and out of your account is a quick and easy way.
Other Cryptocurrencies: Naturally, you can also buy Theta with other cryptocurrencies such as Bitcoin and Ethereum, Just look for the THETA/BTC or THETA/ETH markets.
What to Consider When Buying Theta?
Make sure you keep the following considerations in mind when purchasing Theta on any platform:
Fees: Different platforms will charge different fees for their services. It’s worth researching to find the best rates.
Volatility: Cryptocurrencies are volatile assets. It’s recommended that you know what to expect before investing, that way you can make more informed decisions.
Regulation: Ensure that the platform you choose to purchase your tokens is regulated. That way you’re more protected in case something goes wrong.
Long-term or Short-term Holding: It’s important to have an investment strategy in mind before investing. Through this, you can make better investment decisions. For example, if you’re planning to hold for the long-term, it may be a good idea to store your tokens in a private wallet. This will be explained further in a later section.
Is it Safe to Buy Theta Online?
As mentioned above, it’s best to stick with regulated platforms. These usually offer the highest levels of security and employ strict KYC measures to ensure that users do not participate in illegal activities.
Furthermore, you should activate 2-factor authentication on all your accounts. This can help to prevent online attackers from gaining access to your funds.
Finally, you should also consider moving your coins into a private wallet as this perhaps offers the highest level of protection for your assets.
How to Store Theta?
To store your Theta coins, you can use hot or cold wallets.
Hot Wallets: These are applications that you can download on your PC or phone. They allow you to store and manage a large variety of crypto assets including Theta. Popular wallets include Trust wallet and Coinbase wallet.
Cold Wallet: These can come in different forms. Paper wallets are simply a piece of paper that contain the seed phrases / private key to a wallet. This can be stored in a vault or any other safe location where others do not have access to. Another form is known as a hardware wallet. These require users to physically confirm transactions, adding an extra layer of security to the funds.
How to Sell Theta?
There are plenty of places to sell Theta. Including:
Exchanges: Using the same platform you purchased the coins, this time select “sell” and confirm the transaction.
P2P Marketplaces: Sign up to a peer-to-peer platform, put your coins up for sale and wait for a buyer to come by.
Sell for Cash: You can sell your THETA tokens directly to another person if you find someone who is willing to pay for the crypto coins in cash.
Is it Worth Buying Theta Right Now?
Cryptocurrencies are highly volatile assets and THETA is no different. This means its price can swing in either direction in a short period of time. It’s important to keep this in mind before investing.
That said, Theta has a solid team behind the project with incredible advisors including the co-founder of YouTube. If the platform is adopted further, it can reflect positively on the price of the coins. Of course, however, gains are not guaranteed.
Final Thoughts
The best way to buy Theta is by using an exchange and paying for the coins using a bank transfer as the payment method. This is a quick and convenient way to deposit money into the exchange and once it’s set up once, it can be done in a matter of minutes.
Remember to activate 2-factor authentication on all your accounts, avoid clicking on unfamiliar links and only invest with money you can afford to lose.
FAQs
Can I buy Theta in any country?
This depends on the country you are from. Most Western countries are allowed but check the laws in your country to make sure you stay on the right side of the law.
Is there a limit to how many Theta coins I can buy?
Some platforms will impose trading limits. Usually these can be lifted by providing further ID.
Can I buy Theta without an ID?
No, as this is required during the registration process of crypto platforms.
Can I buy Theta instantly?
Theta can be bought instantly on any regulated exchange. These transactions will go through in less than a few seconds.
What is Theta?
Theta is a cryptocurrency associated with the Theta Network – a video delivery platform that allows for high-bandwidth streaming services.
How does Theta work?
Theta transactions are recorded on the blockchain, allowing for a decentralized infrastructure that is less costly than centralized streaming services.
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