If you are searching for the best Theta wallets, you should analyse a wide range of things such as the assets supported, the privacy offered and other features that cryptocurrency wallet could offer. One thing is clear, there is no best Theta wallet that would make everyone happy. There are different types of wallets that offer different services for users. The goal is to find the best Theta wallet that would fit your needs.
In this guide, we are going to analyze the most popular Theta token wallets available right now. We will tell you why some Theta coin wallets are better than others and which ones you should use if you are a short-term or long-term Theta holder.
What is Theta?
Theta is one of the latest virtual currencies to attract the attention of thousands of investors from all around the world, but specifically from video gamers. Why? Because the Theta network works as a decentralized video streaming system that requires blockchain technology to operate.
Users get rewarded by tokens when they share internet bandwidth and also computer resources with other users that need them. The whole system is based on a peer-to-peer (P2P) network that works as an incentivized platform to attract new users that would like to earn rewards for helping the entire network grow.
The project has received attention over the last few months due to the fact that it is now advised by Steve Chen, the co-founder of YouTube, and Justin Kan, the co-founder of Twitch.
At the moment, Theta is working with a multi-Byzantine Fault Tolerance (BFT) consensus algorithm. It requires between 20 and 30 validator nodes that are then protected with a second layer of “guardian” nodes.
One of the positive things about Theta is the fact that it supports Turing-complete smart contracts, which could make the whole experience even better for users and investors. Individuals and developers can easily create TNT-20 tokens, similar to other blockchain standards in the market.
These tokens can then be used on decentralized applications (dApps) that would help expand the whole protocol and network even further. Additionally, these tokens could also be a great way to bring new participants that would like to share their resources with other users.
Furthermore, Theta works with the THETA token. It is used by investors to speculate on its price but it is also used to run the governance structure of this network. By staking Theta, users are able to be rewarded with TFUEL, which is the token used for on-chain transactions.
How to buy Theta?
If you want to buy Theta, then there are different cryptocurrency exchanges that you can use to do so. In general, the easiest way to buy Theta is by creating an account on these exchanges and purchasing the virtual currency using fiat currencies or other virtual currencies such as Bitcoin (BTC).
Theta is now being traded in different exchanges around the world, meaning that you should already be able to buy this digital currency in your location. If you do not know which platform to use, then you should search for the best exchanges available in your region.
In recent years, a large number of Theta wallet apps started to appear, allowing users to buy Theta directly from these wallets rather than using an exchange. Although the price of Theta could be higher in these wallets, it might be worth considering that exchanges have withdrawal fees.
Depending on the type of investor you are, you might prefer a cryptocurrency exchange or a cryptocurrency wallet. A crypto exchange usually has more features than a wallet. However, a crypto wallet might be more useful to perform regular transfers of Theta and TFUEL compared to exchanges.
If you are a trader, then you should definitely use a cryptocurrency exchange. These platforms would have all the solutions you need to conduct your trading activities on a daily basis. Additionally, you can also add indicators, fundamental analysis, and charts. These things are usually not included in crypto wallets.
In the next sections, we will share with you all the best Theta wallets that are currently available in the market. Although not all of them would fit your needs, we are sure that they would let you hold and protect your funds.
Best Theta Wallets
It is now time to understand which are the best Theta wallets available in the market. The first thing we should know is that there are different wallets available. There is no best Theta wallet, as this would highly depend on your needs.
However, we need to know that there are two main types of non-custodial wallets: software and hardware wallets. When we talk about non-custodial wallets, we make reference to wallets that we control the private keys. When we hold our funds on a cryptocurrency exchange, these funds are controlled by the exchange, not by us.
Software wallets are the most common type of wallets that you can use. They can easily be downloaded to your smartphone or desktop computer and they would allow you to handle all the coins and digital assets you want. In general, if you are a usual Theta wallet user, then these would be the most suitable wallets that you want to use to hold your Theta coins.
Basically, software wallets are programs or apps that you download and that let you handle your funds in a very easy way. You can send and receive Theta (and other virtual currencies), you can stake some coins and you might also be able to purchase virtual currencies by using this type of wallet.
Software wallets are the best solution for users that are constantly using Theta. Instead, if you are a long-term investor and you do not want to use your Theta on a regular basis, hardware wallets would be the best option for you.
Hardware wallets, instead, are more secure than software wallets. Why? Because these are devices that hold your private keys in cold storage. That means that your private keys would never be in contact with the internet. This is very important, as no malicious party would be able to access your funds.
There are two negative aspects of hardware wallets. The first one is related to the fact that hardware wallets are not free to use. You have to purchase the device. One of the most popular devices that you can use to hold your virtual currencies is the Ledger Nano S. But there are other options available. The second negative aspect is related to the fact that they are not so user-friendly. Hardware wallets are not the best option for newcomers to the crypto market.
Hardware wallets are the best solution for those investors that want to hold their Theta coins for longer periods of time. These are the safest devices to hold virtual currencies.
Best Theta Wallet List
Now that we know the type of cryptocurrency wallets, we need to move to the different Theta wallets available in the crypto space.
Ledger wallets are usually the best wallets to hold and use Theta. They are some of the safest as they are hardware wallets. These wallets include the Ledger Nano S and the Ledger Nano X wallets.
If you want to hold your Theta for long periods of time, Ledger has very good options for you. Moreover, the wallets support a large number of coins, making it easy for users to store not only Theta but also many other virtual currencies in the market.
Additionally, with the Ledger Live app, users can easily manage their coins from their smartphones or desktop computers. This brings new functionalities to users that want to also purchase cryptocurrencies with their wallets, stake coins or engage in different decentralized finance (DeFi) applications.
Trezor, another hardware wallet, is a strong competitor for Ledger’s offer. Indeed, it is recognized as being one of the largest hardware wallets in the cryptocurrency market. Rather than offering support to just some coins, Trezor has created a wallet that allows investors to hold and manage a wide range of virtual currencies.
Due to the fact that this is a hardware wallet, users should know that it might be suitable for individuals that want to hold Theta for long periods. This is just one of the many Theta wallets available right now. However, you would have to pay for this hardware wallet (the same happens for Ledger).
Instead, if you want to use Theta to get access to some services and solutions, the best thing you can do is using a software wallet such as the following ones.
If you were searching for a multi-crypto wallet, then Trust Wallet could be a great option for you. In recent years, this wallet became one of the most advanced in the market due to the large number of coins that it supported.
Additionally, it does not only let you store Theta, but you can hold a wide range of other blockchain networks. This is great for crypto investors that want to have their crypto portfolio directly on their hand (this is a smartphone wallet).
Trust wallet would be one of the best Theta wallet options in the market. It is easy to use, it has a clear interface and it is available for both Apple and Android users.
Atomic wallet is one of the best wallets for beginners that want to hold Theta and other virtual currencies. Users would be able to download it for free and store a wide range of digital assets. If you are searching for a Theta wallet, then Atomic is going to offer you all the solutions you are searching for.
As we mentioned before in this post, there are some wallets that let you purchase digital assets, and Atomic Wallet is one of them. Furthermore, security becomes a very important thing as well. This is one of the most secure wallets and it would definitely help you if you are trying to store your coins in a secure and easy-to-use Theta wallet.
Theta Wallet App
There is a Theta Wallet that has been created exclusively for users that wanted to handle Theta coins. This wallet is known as the Theta wallet app and it lets you securely manage and store your Theta coins and TFUEL tokens.
Basically, this wallet would offer you all the functionalities of a normal wallet with the peace of mind that it has been developed by the Theta Network team of developers. Nowadays, you can download this wallet for Apple and Android devices.
This wallet could be useful to those users that want to handle Theta coins and no other virtual currency. Despite that, this wallet offers users all the things they need about a cryptocurrency wallet.
Theta Chrome Extension
When we talk about a Theta Wallet Chrome extension you hear it well. This is a Google Chrome Theta wallet extension that allows users to handle, hold and store their Theta coins in a fast and easy way. This is similar to the MetaMask wallet that is widely known for letting users get access to a wide range of dApps.
Rather than using another wallet, Theta wallet chrome extension users would be able to get access to dApps that run on the Theta blockchain. The whole interaction with the wallet takes place from the Google Chrome application on your device. You would not only be able to handle Theta and TFUEL but also other tokens on the Theta network.
Theta Web Wallet
Finally, the Theta web wallet would also help you to store and handle your Theta coins in a fast and easy way. This is the official wallet offered by the Theta network and you can easily store your Theta or TFUEL tokens anywhere you are.
You can store your private keys on hardware devices, making it possible to have a very user-friendly interface making sure that your funds are protected at all times. You can create a new wallet or simply connect through an existing wallet by adding your private key or mnemonic phrase.
The positive thing about the Theta wallet for web users is that you do not need to download any application and you can use it as soon as you open your web browser.