Binance is the world’s largest cryptocurrency exchange, with a 24-hour trading volume of $2.8 billion and 140+ crypto coins listed for trade. It’s also one of the most popular exchanges available today, due to its ease of use and reliability.
In this article, I’ll show you how to quickly and easily purchase Theta tokens on Binance!
How to Buy Theta on Binance Summary
Follow this Steps to buy Theta on Binance:
- Register a Binance account
- Enter referral code to get lower trading fee: C3JJ7VEM
- Deposit Bitcoin or fiat currency
- Buy Theta with BTC pair
- Withdraw the coins to your wallet
What Is Theta?
Theta is a decentralized video streaming service that utilizes blockchain technology and its native token, THETA. It has been in the top 10 for growth since it was released back in 2018. Its popularity stems from being the first decentralized video delivery network that offers end-to-end streaming of 4K content with no buffering, and at a fraction of the cost as YouTube or Netflix.
The purpose of this project is to create the next generation of decentralized video distribution network. With an industry-first model for generating revenue, Theta can be a great investment opportunity as it will incentivize users to share their bandwidth with those who are in need.
Step 1 – Register for an account on Binance
Registering with Binance is simple. First, click the Register button at the top of the screen to create your account, then choose a username and enter a valid email address.
After creating your account, log in by entering your email address and password into the fields provided.
- If you need to update your login information after you log in to your Binance account, the process is quick and easy.
- Log in to your account
- Click on the “Account” tab at the top of the screen
- Select “Change Password” from the drop-down menu and enter a new password
- Confirm your new password by retyping it into the box below
Now that you have your Binance account all setup, it’s time to secure it! Here is how:
- Log in to your Binance account
- Click “Account” at the top of the screen
- Select “Security Center”
- Setup “Two-Factor Authentication,” by clicking on the “Google Authenticator App” link and following the on-screen instructions
Step 2 – Add Bitcoin or fiat currency to your Binance account
One of the most common questions in cryptocurrency is how do I deposit funds into my Binance account so that I can start trading.
To fund your Binance account, you’ll need either Bitcoin or fiat currency. To buy Bitcoin, you can use standard exchanges like Coinbase or Gemini. You can also buy some Bitcoin right on Binance using a credit card or depositing fiat through ACH or wire transfer.
If you haven’t verified your Binance account already, you should do so before transferring any Bitcoin. Once you’ve verified your account, you can make deposits and trade on the Binance cryptocurrency exchange.
This example discusses sending Bitcoin to your Binance wallet from your Coinbase wallet. However, the process is mostly the same when sending from other exchanges or wallets like Exodus.
In order to send Bitcoin to your Binance account, you need to get your Binance Bitcoin wallet address. To get your address, click “Funds,” “Deposits,” then copy your bitcoin wallet address.
You can send Bitcoin straight from Coinbase just by entering the amount you want to send on the right-hand side, your Binance Bitcoin address, and clicking “Send.” You will receive a deposit confirmation email once your Bitcoin has arrived in your Binance account.
Step 3 – Buy Theta
You’re now ready to buy some Theta crypto on Binance. To begin, you’ll first need to click on the “Exchange” link near the top of the screen. Select the THETA/BTC pair by typing that name in the search box on the right side of the page.
You can choose between two order types to purchase Theta:
A limit order is a type of trade that sets the maximum price an investor will pay for a cryptocurrency. Investors generally use limit orders when they are not willing to pay more than a specified amount, or at all, for an asset.
- The following example will demonstrate the use of a limit order:
- Input the amount of Theta you want to buy in Bitcoin
- Select the “Limit” order type
- Then either enter your own limit price or select from Binance’s list of prices.
- Click on the Buy Theta button
- You will receive your Theta after your order is fulfilled and it will appear in your Binance wallet immediately.
The steps to place a market order are identical to those for a limit order but select the “Market” order type instead.
Limit orders are usually more advisable for larger purchases because you can specify an exact price you’re willing to pay for your Theta crypto.
With smaller transactions, market orders may provide faster results without needing to research the current THETA/BTC prices on the exchange or do technical analysis.
Step 4 – Withdrawing your Theta tokens
Your cryptocurrency should always be stored in your own wallet and not on an exchange for security reasons. You can create your own Theta wallet at https://wallet.thetatoken.org/.
To withdraw your Theta tokens to your Theta wallet and off of Binance, follow these steps:
- You’ll first need to click the “Funds” tab
- Choose “Withdrawals” from the menu and then click on the “Deposit/Withdrawal history” link
- Choose Theta from the list of coins by clicking on it and then entering your withdrawal address (which you can find within your Theta wallet).
- Enter the amount that you would like to withdraw and confirm that you’ve entered your correct Theta wallet address.
- Follow the prompts Binance shows on the screen to continue the withdrawal process.
- Now you just have to wait patiently for the transaction to go through. If there is a current backlog of withdrawals, it can take a little extra time for your transaction to finalize.
On Binance, buying crypto is a good way to both invest and grow your money. It’s easy to buy Theta and any other crypto on Binance, but you need to follow the steps closely so you don’t lose any money. You’re now ready to start investing in cryptocurrencies on Binance.