THETA is a popular network with over 130,000 nodes. Its aim is to increase streaming quality. Sony, Samsung, and many other technical giants around the world contribute to this promising decentralized peer-to-peer video streaming network. As of today, THETA has raised over $17 million venture financing, which is another record.
What Is THETA?
THETA was made by a Silicon Valley firm called Sliver TV. Theta’s goal is to make use of the extra bandwidth that your computer doesn’t use when you’re asleep and Theta uses this extra streaming power to deliver higher quality videos and faster loading times to local users. For providing the extra bandwidth, you are rewarded with Theta tokens that can be donated, sold for virtual items, or used to unlock premium content.
This cryptocurrency doesn’t only increase your streaming quality, but it also is eco-friendly and gives money back to users from the leftover bandwidth. Theta has sold 20 million in tokens in the first three weeks after its launch and was used in 150 different countries, such as the United States and the United Kingdom.
The obvious benefits for video streaming have been evident from day one, and we have seen support from major technological companies, such as Samsung and Sony. Theta has also received enterprise validator notes from Google, Binance, DHVC & CAA. Currently, there are more than 2 million active users.
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How can a user become a validator node? The idea is to stake 1 million Theta coins, which costs 6 million USD in September 2021.
What Is BTC?
Bitcoin is a cryptocurrency that was launched in January 2009. Bitcoin pledges fewer transaction costs than conventional online payment methods, and it is operated by a decentralized system, unlike treasury currencies. There are no tangible bitcoins; instead, balances are preserved on a public ledger that everyone can see.
The Bitcoin system comprises a series of computers or nodes that execute Bitcoin code and preserve the blockchain. A blockchain may be conceived of as a collection of blocks theoretically. Each block specifies a group of transactions. The new blocks are indeed being filled with data in a transparent manner.
Bitcoin mining looks much like a difficult computer puzzle that needs to be solved. A human being cannot do it alone, so the entire process is done by smart algorithms. A new block is found and it is added to the miner’s digital wallet by using wallet addresses. The reward is reduced to a half every 210,000 blocks. The block reward in 2009 was 50 new bitcoins whilst in 2021 the reward is just 6.25 bitcoins per block.
THETA and BTC Price Index
Theta’s price increased drastically in March 2020; the price remained steady anyway. The coin is trusted by masses as it always awards quick profits to many large market players.
Bitcoin’s price, on the other hand, slightly grew during March 2020, and gained immense value in 2021 except for the summer months when it decreased due to negative news consequences.
Coin prices are influenced mostly by utility and demand. The supply of most cryptocurrencies is limited, which means that an increase in demand will lead to an increase in prices. If competition becomes fiercer, customers will be less likely to choose a particular currency, so prices may drop.
If THETA is used a lot, and users stream and watch content using the network, it will have a high utility, where it is almost certain that the price of Theta will increase.
Circulation of THETA and BTC
The circulating supply can be used to calculate the total market value of the currency by multiplying it by the current price of the cryptocurrency. The circulation can be gradually reduced or increased. The two most obvious factors of how price changes occur are investors burning coins and mining cryptocurrencies. In most cases, investors burn coins and quickly repurchase in the hopes of increasing their value.
THETA has a total supply of 1 billion and a circulating supply of 994 million, which also means that utility and, therefore, demand, will be the main cause of its price shift. Since we see limited supply, Theta mining wont be that popular as opposed to using the cryptocurrency’s video streaming ecosystem.
BTC has a total supply of 21 million and a circulating supply of 18 million, which means demand is yet to increase drastically as supply will be limited.
Ways of Converting THETA to BTC
You can buy THETA from Binance exchange service by converting it from altcoins, which are converted from another currency such as USD or EUR. You should also note that you need a digital wallet and have to complete KYC protocol to exchange coins.
First, exchange FIAT money to altcoins such as USDT using Coinbase or Uphold. You can then buy THETA from Binance/Kucoin/OkeX, which are exchange platforms that offer altcoins to THETA exchange. The best alternative to these services is Godex, where you can also find other popular pairs like WAX to XLM or XRP to ETH.
You can also buy Theta from Crypto.com, which has partnered with Visa to enable cryptocurrency credit cards.
Gate.io is another platform where you can buy XSR. The platform has over 10 years of experience and offers 40,000 currency pairs with 200+ coins. Gate.io is insured with Ddos, SSL, and encryption certificates for maximum security.
How to Exchange THETA
So, it is time to specify how to convert THETA to BTC once again. As we have mentioned, the most popular exchanges are Binance,Godex, OkeX, Gate.io, Kucoin, and a few others.
Binance is the most popular one, thanks to its immensely low transaction fees of 0.1% to execute each trade.
Godex is one of the most beneficial methods to convert one crypto to another. This platform offers low rates, high level of security, and it does not insist on your registration and verification. Transactions take place within seconds.
Gate.io is also brilliant for its security as it is based on CER cybersecurity and SSL certificates. However, it charges a 0.2% fee on all transactions.
In order to buy and sell cryptocurrency, most often, users will need a digital wallet, a secure internet connection, a KYC platform, and a payment method.