How to Buy Theta Online in 2022
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.
Best Brokers to Buy Theta in 2022
Nowadays, there are plenty of platforms to choose from when it comes to buying cryptocurrencies. As such, picking the right one can be a long and daunting process.
To save you time and effort, we’ve listed the top platforms below to help you get started right away:
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
Step 2: Sign up for an exchange and deposit your funds
Step 3: Purchase your Theta coins
How to Trade Theta?
To start trading Theta tokens, this is what you need to do:
Step 1: Sign up for an account
Step 2: Verify your identity
Step 3: Deposit funds
Step 4: Use the search bar
Step 5: 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?
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.
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.