Theta Network (THETA) is the 63rd largest cryptocurrency by market cap, valued at US$1,485,909,274.
Theta Network is a highly volatile asset capable of major price swings in a single day. Today THETA is trading for $1.49 USD, which is higher than yesterday's trading price of $1.40 USD. Over the past year, Theta Network's price has seen an increase of 83%.
So before you buy Theta Network, make sure you understand these unique risks as well as its legal and tax status here in
Australia.
If you're ready to get started, read on for step-by-step instructions on how you can use to buy Theta Network.
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
How to buy Theta Network in 5 steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchanges
The easiest way to buy Theta Network is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a deposit
Once verified, you can deposit AUD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
Buy Theta Network
You can now exchange your funds for Theta Network. On beginner-friendly exchanges, this is as simple as entering the AUD or THETA amount you want to purchase and clicking "buy".
Secure your Theta Network
Consider transferring your THETA to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.
Where to buy Theta Network in
Australia
Find an exchange to buy, sell and trade THETA by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
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How we keep this Theta Network guide up-to-date
THETA price data is regularly updated through data feeds so you always have the latest information.
What is Theta Network?
In its most basic sense, Theta is a decentralised video streaming platform that looks to eliminate many of the issues — related to HQ data relay, centralization, censorship — that are currently being faced by traditional platforms like Youtube. It achieves this by making use of a distributed network that consists of users all over the world who voluntarily provide the ecosystem with their excess computing resources in lieu of Theta Fuel (TFuel) tokens. THETA is the native governance token of the Theta protocol. Individuals who own substantial sums of the currency can act as validators or guardian nodes. Not only that, there is a hard cap on the total number of THETA that can ever come into existence, i.e. 1,000,000,000 tokens, making the currency immune to various inflation-based supply problems.
How do I find the best places to buy Theta Network?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in
Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Theta Network?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Theta Network.
This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing THETA with your local currency then you will need to pass KYC.
Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What are the best ways to buy Theta Network?
Once you've created an account, you will need to deposit funds to buy THETA with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy THETA:
Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
Cryptocurrency: You can usually purchase THETA by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for THETA on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Theta Network?
The easiest way to buy THETA is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying THETA, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of Theta Network has been performing recently.
Best Theta Network wallets to store your THETA
You can keep your THETA on the exchange you purchased it on, or move it to a personal wallet:
Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your THETA below.
December 2021: JukinMedia, licensor of popular comedy brands Failarmy and This Is Happening, partnered with Theta Network to produce blockchain-based video content and NFTs. December 2021: Popular American musician Katy Perry released her first NFT collection on Theta Network.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Is Theta Network a good investment?
Below are the aspects you should consider before investing in THETA:
Unique operational set-up: Using its decentralized framework, which depends largely on the computing power of its users, Theta is able to relay high-quality videos through its network at relatively low costs.
Censorship-resistant: One issue that has become quite prominent in recent times is that of tech censorship. Many people around the globe feel that they are being targeted unfairly by many Silicon Valley giants for simply holding views that are not similar to theirs. Theta seeks to change all that by allowing the transmission of digital media content in a totally immutable, censorship-resistant manner.
Solid backing team: The platform is fronted by CEO Mitch Liu and CTO Jieyi Long. Liu has previously been associated with the MIT Media Lab and was also the co-founder of mobile ad company Tapjoy, which by the time he quit had an annual revenue sum of $100 million. Furthermore, Theta has also been able to bring in the co-founders of YouTube and Twitch to its advisory panel.
Limitations: Potential investors should be wary of the fact that all deposits done on the Theta platform are irreversible and totally non-refundable.
Non-fungible token (NFT) incorporation: Theta's Mainnet 3.0 features an NFT marketplace that allows users to explore this fast-evolving space. The integration also allows for the development of cross-chain bridges between Theta, Ethereum and other blockchain ecosystems, enabling the decentralized storage of various NFTs in a highly efficient manner.
Today's Theta Network price versus ATH
Compare today's price of Theta Network ($1.49 USD) against its all-time-high price of $15.72 USD on 16 April 2021. The closer the bar is to 100%, the closer THETA is to reaching its ATH again.
Theta Network's price: $1.49 USD ATH date: April 16, 2021
9.48%
Theta Network ATH: $15.72 USD
How to trade, convert or sell Theta Network
You can convert or sell your THETA with the same exchange you bought it through:
Sign in to the exchange you have THETA on.
If you store your Theta Network in a digital wallet, compare crypto exchanges to convert or sell it on.
Choose Sell or Convert and place a sell order.
Choose the amount of THETA you'd like to convert or sell.
Confirm the sell price and fees and close your sale of Theta Network.
Complete your transaction and move your THETA to a crypto wallet for storage.
Disclaimer: Cryptocurrencies, including Theta Network, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of THETA is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Theta Network or any other cryptocurrency discussed.
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