The Theta Network project launched in 2019 with the aim of decentralizing video streaming. The network enables users to share bandwidth and storage on a peer-to-peer basis. Theta improves video quality and reduces streaming costs.
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What is THETA cryptocurrency?
The network operates a native THETA token, which is designed to manage the network. According to experts, the token is a potentially profitable investment. To date, THETA is ranked 41st in the CoinMarketCap ranking.
THETA token was originally launched as an Ethereum-based ERC-20 token. After the launch of the main network, the tokens were transferred to their own blockchain.
To pay rewards to network users, a second token is used – Theta Fuel (TFUEL)
Where to store THETA
Initially, any wallet that supported the EPC-20 standard could be used to store tokens. After the transition to our own blockchain, the possibilities became noticeably smaller. Let’s consider them in more detail.
THETA Wallet
This THETA Wallet is the official wallet of the network, specially designed to store THETA and TFUEL. It is available for download on the Theta Project website. It’s easy to use and takes a few minutes to set up. During the setup process, the user receives a 12-word seed phrase to restore access in case the password is lost.
Ledger Nano X
In addition to THETA, devices support about 1800 coins and tokens. The Nano X model is compatible with all popular operating systems and a large number of cryptographic applications. This model can be recommended to active traders.
Ledger Nano S
Unlike the previous device, the Nano S model is compatible with three cryptographic applications and does not work on iOS. Since the technical capabilities of the device are noticeably more modest, it is not so convenient for active trading and is more suitable for long-term storage of coins.
Trezor and Ledger are industry leaders in terms of security. Trezor devices have a larger screen but do not have a Bluetooth connection and no integrated mobile app.
Safepal
Safepal is an inexpensive, credit card-sized hardware device. A wired connection to a PC is rarely used, only to receive updates. To perform everyday calculations, the device is linked to an application on a smartphone. After the setup is completed, the devices interact via QR codes. Integration with a mobile device makes it possible to exchange cryptocurrencies and other transactions almost on the go.
Math Wallet
MathWallet is available in several versions for popular browsers and mobile devices. It can be associated with hardware devices. The wallet supports the possibility of passive income and has a built-in decentralized application browser.
Trust Wallet
A popular multi-currency wallet for Android and iOS mobile devices. It is very convenient for receiving and sending payments, storing coins, connecting to decentralized finance platforms.
Installed on a smartphone as a regular application. During the setup process, it generates a 12-word seed phrase to restore access in case the device is replaced.
Trust Wallet provides additional security options and internal exchange through integrated services.
It is worth mentioning that cryptocurrency exchange online will be available with any of the selected wallets.
