Theta Token, which was first issued on Ethereum as an ERC-20 token, is one of the most promising initiatives in the cryptocurrency market. It has been migrating from Ethereum’s network to its specialized blockchain since its launch. Because the coin is based on a proof-of-stake consensus paradigm, transaction fees are much cheaper while transaction throughput is increased.
By building a decentralized network for content creators, It intends to tackle the problems with streaming services like YouTube and Twitch. Its blockchain, like Ethereum and Cardano’s, supports smart contracts. Unlike many intelligent contract-enabled blockchains, however, The coin already has a functioning ecosystem and users. THETA.tv is a decentralized application (DApp) built on Theta’s blockchain that allows users to stream content without relying on a centralized infrastructure.
On the network, there are two tokens: Theta and Theta Fuel (TFuel). Theta token is the platform’s native coin, which is used for protocol governance. Token holders can use their tokens to vote on network upgrades because it is decentralized. TFuel is a cryptocurrency comparable to Ethereum’s gas that is used to compensate network validators for processing transactions on the Theta blockchain.
Trade, sell or convert your Theta
If you wish to trade or sell your Theta coins, you’ll have to send them back to Binance to complete the transaction. Tether (USDT) or Bitcoin can be used to exchange your Theta (BTC). Tether is a stablecoin that is pegged to the dollar’s value, so using it is the same as selling your investment for cash. Alternatively, you can sell your Theta for Bitcoin, leaving you vulnerable to price changes in the cryptocurrency market.
There is a solid team of founders that are well-versed in the sector. In the past, it has shown to be a wise investment. This year, the coin has outperformed Bitcoin and Ethereum, making it an appealing option for risk-averse crypto investors.
Open an online account
Binance is the best place to buy Theta tokens. The process of opening a Binance account may differ depending on where you live. Binance will redirect you to Binance.us if your internet IP address is in the United States. Binance.us is its U.S.-based exchange, which only offers services that are compliant with the Securities and Exchange Commission (SEC).
If you join Binance in the United States, you’ll have to prove your identity before you can start trading cryptocurrencies on the platform. Your driver’s license number, Social Security number, and home address are all things you’ll need on hand.
While major US-based exchanges such as Coinbase, eToro, and Kraken are excellent for novices, they do not offer Theta. These exchanges, on the other hand, make it relatively simple to purchase a wide range of different cryptocurrencies, including Bitcoin, Ethereum, Uniswap, and Cardano.
Buy a wallet (optional)
It’s never a good idea to keep your crypto assets on an exchange. Several cryptocurrency exchanges have been hacked in the past, as these systems are high-value targets for cybercriminals. Because the business is the custodian of all of its investors’ cash, a security compromise might result in the theft of all cryptocurrencies held on the exchange.
Consider storing your funds in a specialized bitcoin wallet to reduce this danger. Hardware and software wallets are the two most common types of crypto wallets. Computer apps that encrypt your cryptocurrency on your PC or mobile device are known as software wallets. Hardware wallets are the safest way to keep cryptocurrency since they store it on a physical device.
Make your purchase
You’re ready to buy once you’ve created an account and decided how to store your cryptocurrency. THETA-BTC and THETA-USDT are supported by Binance for trading Theta. While the USDT pair allows you to trade Theta tokens for Bitcoin, the Bitcoin-Theta pair allows you to trade Theta tokens for Bitcoin.
