Will Theta make me rich? As is the case with most cryptocurrencies, we can't guarantee anything.
But if you've been wondering what's the best cryptocurrency to buy right now, we can give you an answer.
Yes! Theta is one of them. Let us explain why.
Theta has seen some impressive gains over the past year, with its value increasing by more than 700% from the start of January 2021 to around mid-April, when it attained its current all-time high of $15.90. Quite impressive for a currency that started trading in 2019.
Then again, Theta is not your average cryptocurrency.
In fact, it's one of the few cryptocurrencies with a use case! And a really cool use case at that.
Theta holders benefit from video streaming quality improving as more users join the network, thus increasing decentralization and security, while TFUEL coin holders receive a cut of the profits from Theta's decentralized video streaming platform.
In fact, Theta is working with gaming and virtual reality companies to ensure that their viewers can stream top-quality videos without having to pay for expensive hardware or bandwidth. In other words, it's a win-win situation for everyone!
So, yes, it is possible for Theta to make you rich if the market plays out right and if the company is able to effectively implement its roadmap.
Can I Make Money Investing In Theta (THETA)?
As we mentioned, Theta has seen some impressive gains over the past months. But how about its long term prospects?
Let's start by pointing out exactly what Theta is.
Theta is a decentralized video sharing platform built on top of its own blockchain. Its native currency, THETA (THETA), allows for smart contracts to be executed within the network while TFUEL coin holders receive dividends from transactions on it.
The network uses a PoS (proof-of-stake) consensus algorithm and relies on the blockchain to incentivize its users. They do this by allowing them to offer their bandwidth and computing resources to relay videos (which get mined!), while rewarding them with TFUEL coin for doing so.
Theta is focused on improving video streaming quality through decentralization and security, two factors not present in other video streaming platforms, which rely on a central authority to ensure quality.
In addition to this, Theta is focusing on offering high-quality content from known brands and companies such as Disney – ensuring that there's always something fresh for its users to enjoy.
Having said that, there are several ways that you can make money by investing in Theta. These include:
HODLing is buying and storing THETA coins for the long term. The idea behind it is that the price of the currency will increase when investors buy in, and after several years, you will be able to sell for much more than you bought.
This can be a very effective strategy, but it's also one that comes with increased risks, including but not limited to, Theta coin value decreasing rapidly and taking a long time to recover.
2. Trading Theta coin
Trading THETA coin is the act of buying and selling at different price points for short- to long-term profit, depending on your goals. But unlike HODLing, trading requires constant monitoring of market behaviour to ensure that you're making the most effective trades.
3. Staking THETA coin
Staking THETA coin is the act of manually locking your coins in a smart contract that will turn them into mining nodes. This means that you earn TFUEL every time someone sends THETA to another user.
Staking has the added benefit of being able to sell your staked coins when you want, with no penalty. So if you’re looking for short-term gains with low risk, then this is a good strategy for you!
There is a minimum amount of THETA you can stake depending on whether you are an enterprise validator node, guardian node or edge node (These are simply categories of users that power the Theta network).
4. Sharing Bandwith or Relaying Videos
Theta allows its users to earn TFUEL by sharing their bandwidth and computing resources. You can think of this as your computer storing videos and other data on Theta's network like a peer-to-peer VPN (Virtual Private Network).
The process goes like this:
- Users store their videos on Theta's platform. It then gets picked up by miners who relay it to other users.
- Miners earn TFUEL for relaying the data and then share their earnings with everyone who helped store/relay that video (you!).
Check Out: How To Make Or Lose Money With Theta?
Will Theta Eventually Reach $100?
That all depends on how well the company is able to implement its roadmap. If they are able to effectively introduce blockchain-based video streaming, decentralize it and allow users to earn money by sharing their bandwidth, then Theta coin value will increase rapidly.
But if they fail in any of the above aspects, expect THETA value to stagnate below its all-time high of $15.90. However, Theta coin is still in its nascent stage, and it will take some time for the market to determine whether they're a success or not.
Also, keep in mind that Ethereum (ETH) and even Bitcoin (BTC) prices are doing well, too, which has made blockchain companies seem like a better investment than they actually are. But if the market turns and Theta coin value fails to follow it, then you could be in for a surprise!
Where Will Theta Be In 5 years?
We cannot give an exact value as there are too many variables at play. But what we can say is that the Theta Network has a very solid foundation, and if they can achieve their target of decentralizing video streaming, then THETA coin price will increase, but again only time will tell.
Also, keep in mind that cryptocurrency prices have been seeing huge increases recently, so it's hard to determine if the Theta team will be able to deliver on their objective of decentralizing video streaming.
The network has a pretty solid roadmap, a visionary team and some well-known investors backing it, so it's definitely one of the stronger projects in its field.
For this reason, we believe that in 5 years, Theta coin will have experienced a lot of growth and become a leader in the decentralized video streaming industry.
Don't Miss: Theta Price Predictions
Where Will Theta Be In 10 years?
Again, it's hard to predict the future, but in 10 years, we believe that Theta will be a major name in decentralized video streaming. It may not reach $100 within the next year or two, but it definitely has enough momentum to get there eventually.
And since it is difficult to pinpoint figures concerning the next 10 years, the best way to know where Theta will be then is by looking at several factors that will likely drive its value in the long term.
- Adoption rate: How many users does the network have? How is it being adopted across different platforms?
- Profitability: What kind of profit are they making today, and how much profit will they make in 10 years’ time? How are these profits being used to further their product's development?
- Competition: What is the competitive landscape like? Are they still leading, or are there other companies offering similar products?
- Future Regulations: How will regulation affect the company's future earnings, and how likely are they to adapt to changes in legislation.
Is Theta a Good Long-Term Investment?
Definitely! Theta coin is a perfect opportunity for cryptocurrency investors to get involved in the decentralized video streaming industry.
The company has a really solid team and product, not just in terms of development but also marketing which is often overlooked.
This means that they have the right people on board to deal with any challenges they may face along the way.
Therefore, Theta has a great foundation which is what makes it such a strong long-term investment.
Conclusion: Should I Buy Theta?
Yes! It's a great opportunity for investors to get in early with what is expected to be one of the leaders in decentralized video streaming.
The Theta project has all the necessary ingredients required to become a major player in its industry,
So if you are looking for a solid cryptocurrency that is still in its early stages, then Theta is an excellent investment for you.