Theta is a blockchain-based, high-quality video streaming platform looking to become the decentralised equivalent of YouTube and Netflix.
Where these tech two giants build out physical network infrastructure to meet the large user-capacity demands on their services, Theta pools its infrastructure, to power its network, from external parties who earn a reward in return for doing so.
Theta’s meteoric rise during the 2021 bull run was supercharged by a string of developments that drew in the crypto community; institutional investment worth $100M USD flowed into the project, large multinationals including film production powerhouse Lionsgate committed to supplying content and industry-leading talent came onboard from the likes of Samsung Next. This bullish momentum helped carry Theta from $1.87 on January 1st 2022 to an all-time high of $15.72 in little over four months.
Theta’s development progress continues. Upgrades to the network have increased the scalability and customisation of the blockchain, while an NFT, TDrop, was launched as well in 2022.
Despite Theta’s appeal to investors, US citizens have found it difficult to acquire… We’ll show you the routes to get your hands on Theta, stateside, so that you can find the best investment route catering to your needs.
What is Theta?
Theta is a video streaming platform designed to deliver improved streaming quality and minimise costs by leveraging a decentralised network of users and nodes. In simple terms, Theta crowdsources its network infrastructure and those who contribute to the network with their computers and excess bandwidth makeup the nodes. The bandwidth they supply is pooled and provides the capacity for content creators to distribute their output to viewers and audience seeking content, globally, on Theta.
This model contrasts traditional centralised video streaming platforms such as YouTube and Netflix, which have expensive in-house network systems that provide the means to distribute video content to users. To generate a return on the costly distribution hardware, the streaming platforms pass on the associated costs in some way or another to users, content creators and advertisers on the platform.
On the other hand, Theta looks to minimise these costs to all by consuming bandwidth that would otherwise would be wasted – in short its recycling excess bandwidth that’s already been paid for in most cases.
Two cryptocurrencies exist on the network – TFuel and Theta – each serving specific functions. The former is awarded to users who contribute to the network by providing bandwidth, validating transactions or creating content. TFuel also doubles as a fiat-type currency in the ecosystem, providing users/audiences with a means of payment to purchase content on the network for example.
Altogether different, Theta is a governance token that empowers its holders to vote on proposed changes to the Theta network so they can have a hand in shaping how it develops down the line.
Recommended Reading: 6 Types of Altcoins and Their Use Cases
Recommended Reading: What is Theta? A Beginner's Guide
How to Buy Theta and TFUEL
There are a couple of different ways you can go about it, which we’ll detail below:
Buying Through Centralised Exchanges
If you prefer to trade crypto through a centralised exchange, you will need to do a few swaps along the way. First, you’ll have to know which coins pair with Theta. Common Theta pairs are THETA/BTC (Bitcoin) and THETA/USDT (Tether).
Tether is a stablecoin that functions as a cryptocurrency version of the US Dollar. Its value in crypto is a direct match of USD, so it’s often used in transactions to simulate the movement of cash in and out of the crypto ecosystem.
If you have neither Bitcoin nor Tether, you may have to do another swap before swapping again to Theta.
- Choose a centralised exchange that supports Theta.
- If using US Dollars, swap over to Tether (USDT) or Bitcoin (BTC) (transaction fee applies).
- If using crypto, determine if your coins pair with USDT or BTC
- If you don’t have the right pairs, continue to swap until you have one of the coins above. (transaction fees apply).
- Trade your USDT or Bitcoin for Theta (transaction fee applies).
Buying Through Decentralised Exchanges
Another way to buy Theta is via decentralised exchanges. Although less secure than a centralised exchange or brokerage, decentralised exchanges make up for it with simplified interfaces for trading and no obligation to sign up or go through a KYC process.
Depending on the centralised exchange, you might need to take intermediate trades to get to Theta. Although the Theta token and Tfuel are readily available on these exchanges, you often need a pair to trade into Theta with.
- Find a decentralised exchange (DEX) like SimpleSwap.*
*When using the above exchanges, keep in mind that they come with their own set of risks. DEXs offer no custodial services, are prone to hacking, and are generally less secure than centralised exchanges.
- If using US Dollars, swap over to Tether (USDT) or Bitcoin (BTC) (transaction fee applies)
- If using crypto, determine if your coins pair with USDT or BTC
- If you don’t have the right pairs, continue to swap until you have one of the coins above. (transaction fees apply)
- Trade your USDT or Bitcoin for Theta (transaction fee applies)
Outside of basic fees like slippage, these “free to use” services often charge hefty transaction fees. Both centralised and decentralised exchanges also limit the number of pairs you can trade with at a given time.
How to Sell Theta & TFUEL
If you decide you no longer want to hold on to your Theta, you’ll cop another dose of fees just to get rid of it:
- Swap your Theta token for USDT (transaction fee applies).
- Convert your USDT into USD (transaction fee applies).
- Withdrawal US Dollars into your nominated bank account.
If you prefer to reinvest, swap your Theta over to Bitcoin to regain access to the wider market.
A Better Alternative
The complexity of acquiring Theta via exchanges could put you off altogether. Thankfully, there is an easier way that doesn’t compromise on security: using a cryptocurrency brokerage.
With a brokerage, like Caleb & Brown, you can buy Theta or TFuel with fiat currency or trade with your crypto assets with no pair limits.
Since brokerages do not need to deal with network latency issues that affect exchanges, you’ll have access to a pool of interchangeable assets. This not only makes Theta acquisition more seamless, but it also makes other less-liquid tokens easier to acquire in the US.
The Only Step
- Email your Caleb & Brown broker.
The convoluted and sometimes costly process is no more. Simply email your broker to buy Theta – that’s it. Caleb & Brown offers a personalised 24/7 brokerage service, so you can purchase Theta at a moment's notice. Better still, trades are executed fast , avoiding slippage and reducing your fuel costs where possible.
Buy Theta Token The Easy Way
Working with a crypto broker is one of the easiest and secure ways to get your hands on Theta and TFUEL. The team at Caleb & Brown specialise in delivering a personalised experience for each and every investor, ensuring you can make an informed decision on every trade. And with direct access to the market, you’ll never have to worry about having the right assets in your wallet to satisfy trading pairs.
Disclaimer: This assessment does not consider your personal circumstances, and should not be construed as financial, legal or investment advice. These thoughts are ours only and should only be taken as educational by the reader. Under no circumstances do we make recommendation or assurance towards the views expressed in the blog-post. The Company disclaims all duties and liabilities, including liability for negligence, for any loss or damage which is suffered or incurred by any person acting on any information provided.