How To Buy Theta Coin in the UK

A Beginner’s Guide to Buying and Selling Theta Coin Cryptocurrency in the UK

5 Min Read
Last Updated July 23rd 2021

If you’re based in the UK and wish to buy Theta Coin  – the process is very straight. All you need to do is find a regulated exchange, deposit some funds with a debit/credit card, and decide how many Theta tokens you want to buy.

Theta coin was launched as part of a highly ambitious project aimed at changing the way the world uses streaming video. The goal of the developers is to create a fast HD streaming for people all over the world.

The coin is highly attractive as it still has a low price and small market cap, giving it more room to expand. This makes it in high demand. If you’re looking to become one of the holders of the cryptocurrency, you first need to buy Theta in a crypto exchange. If you don’t know how to begin, the following guide will assist you all the way.

What's in This Guide?

  1. QUICK GUIDE: HOW TO BUY THETA COIN IN THE UK
  2. A step-by-step guide to buying Theta Coin in the UK
  3. Which wallets can I use to hold Theta?
  4. How to sell Theta
  5. How Theta works
  6. Things to consider when buying Theta in the UK
  7. Conclusion

QUICK GUIDE: HOW TO BUY THETA COIN IN THE UK

  1. Open an account with a cryptocurrency exchange.
  2. Verify your account.
  3. Go to the deposit section
  4. Go to the platform and select Theta.
  5. Enter how many Theta coins you want to buy.
  6. Check the details and confirm your purchase.

A step-by-step guide to buying Theta Coin in the UK

Step 1: Open an Online Account

There are many options for you when you’re considering buying Theta in a crypto exchange. The majority of them may require you to register and deposit cryptocurrencies with them before buying Theta. However, some other exchanges allow you to deposit fiat currency. If you don’t have any other cryptocurrency stored in a crypto wallet, you need to select the exchange that enables fiat deposits.

Once you find the exchange, proceed to the registration portal and provide all the details required. Note that some exchanges may require you to provide certain personal details like your proof of ID and employment details. These are necessary to fulfill the Know Your Customer (KYC) rules. Once these details are provided, you can complete your registration. Also, remember to enable two-factor authentication (2-FA) for better security of your account.

Step 2: Fund your account

After registering on the exchange portal, the next step is to deposit funds into your account. Since you selected a crypto exchange that allows fiat deposits, you will see different fiat currency deposit options, such as via debit card, credit card, or PayPal. Each of these options has specific fees charged for each deposit, with the debit card option the most expensive. Select the most convenient option for you and enter the number of funds you want to deposit. Review the transaction before submitting it. Once it is approved, the right amount will be deposited into your exchange account.

Step 3: Buy Theta

After funding your exchange account, you are now fully ready to buy Theta and invest in the cryptocurrency. Navigate to the market section and select the right trading pair.

If you funded your account with Bitcoin (BTC), you should be clicking the THET/BTC pair. However, if you funded with euros, the right option would be the THET/GBP pair.

Choose the right pair and click on the order type you want (either the market order or limit order type) Enter the details of the transaction and review before submitting. When the order is approved, an email notification will be sent to you to confirm the execution.

The right amount of Theta coin will be deposited to your exchange account and you can decide to trade of store then safely in a crypto wallet.

Which wallets can I use to hold Theta?

Crypto exchanges are usually not the safest option to store your cryptocurrencies, especially when you don’t intend to trade with them regularly. If you’re looking to store your Theta coin, you will require either a cold wallet or a hot wallet. The former is more secure because it will not expose your Theta coins to fraudsters or scammers over the internet. It is hardware-based and can be used to store your tokens safely. On the other hand, the hot wallet is still safe, but it can be vulnerable since it is connected online. For safety reasons, it’s better to store the crypto assets in a hardware wallet.

How to sell Theta

After buying Theta and you’ve seen it surge in price, you may want to sell it off for profit. It’s easy to sell your Theta coin on the exchange. Navigate to the market section of the portal after logging into your account. There, you should see different paring options for the Theta token. Select the right pair you want to exchange your Theta with and enter the amount of transaction you want. Review the transaction details and click the execute button.

Once your transaction is approved and executed, an email notification will be sent to you and the right currency (GBP or BTC) will be credited to your exchange account. You can now decide whether you want to buy another cryptocurrency with the funds or withdraw the fiat currency to your bank account.

How Theta works

Theta works as a decentralized representation of the video streaming process. It is similar to YouTube, but the major difference is the fact that while YouTube is centralized, Theta is completely decentralized. The Theta network offers rewards to users for sharing bandwidth and resources using the Theta tokens.

The team is also trying to solve three major issues with the conventional streaming process: inefficient centralized ecosystems, high cost of infrastructure, and low streaming quality.

Things to consider when buying Theta in the UK

There are certain things you need to consider before buying the Theta coin.

Consider the market volatility

Theta as a network is doing superbly well in the market, but its token has issues of market volatility, which is common among all cryptocurrencies. As a result, anyone interested in making THET an investment mechanism should seriously consider the high volatility in the market.

Future of the project

Setting up a decentralized video streaming platform is already bringing revolution to the industry. It’s a good thing to give users some level of freedom when using streaming platforms, which is why the Theta network has been getting an increased number of users lately.

Regulatory concerns

Theta and other cryptocurrencies still have the issue of regulation to contend with. Despite the increased level of crypto adoption, some authorities still see the industry as very volatile, which has prevented the widespread use of the token as an investment instrument.

Conclusion

The Theta cryptocurrency is developed from a unique network that provides decentralized video streaming services. The token’s popularity has grown impressively as it has seen rapid adoption. If you’re looking to become one of the investors or holders of the Theta token, the guide above will help you a great deal.

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