The year 2021 is proving itself to be the year when cryptocurrency are finally going mainstream. The long-standing dream of crypto enthusiasts is finally coming true. More and more regular people, banks, institutions, and even governments are looking to get involved with the world of crypto. As such, crypto are seeing a massive surge in prices and we are officially in a new bull market.
You too might be looking to buy a crypto coin or two. If you are new to the crypto sphere, fret no. We will explain in simple terms how you can buy your favorite cryptocurrency in no time at all. For the purposes of this article, we will take the example of Theta. Theta has seen tremendous gains in the past few months and many people have been piling to buy it. So, let’s take a look at how you can buy it.
1. Online Exchanges
Online exchanges have evolved and become more robust in the past few years. These allow you to buy cryptocurrency with fiat currency and also exchange them from one to another. This is why it is considered the easiest and most reliable way to buy your favorite crypto coins. There are many exchanges out there, but if you want to buy Theta with Canadian dollars, it would be a good idea to do so with a Canadian cryptocurrency exchange. Let’s take a look at the steps involved with this.
1. Create an account in any of the trusted Canadian exchanges.
2. Complete the KYC process by providing government-issuedIDs.
3. Fund your account with Canadian dollars (using a debit card, credit card, wire transfer, etc)
4. Buy Theta with fiat money.
2. Over The Counter (OTC)
If you don’t want to deal with exchanges and would prefer to deal one on one with another person, you can do that on OTC platforms. These platforms facilitate trade between two parties where both are protected with the help of an escrow feature. Also, this method is more useful if you are looking to buy large quantities of Theta (or any other coin).
1. Create an account on a website with OTC services.
2. Get a quote from another trader.
3. Accept the price.
4. Transfer the money.
5. Buy Theta.
3. Bitcoin ATMs
Bitcoin ATMs have become very popular in the past couple of years. They are seeing more coverage than ever and people often prefer them when they need to buy small quantities of crypto. If you are looking to buy Theta, you might not be able to do so directly at a Bitcoin ATM. That’s because these ATMs still support only a handful of cryptocurrency.
However, you can buy Bitcoin or other cryptos through these ATMs and then convert these coins into Theta later on. Let’s take a look at the steps involved in doing so.
2. Use your debit card or use cash to pay at the ATM.
3. Choose the amount of bitcoin you want to buy.
4. Scan your wallet and receive Bitcoin.
5. Transfer your Bitcoin to an online exchange or a decentralized exchange.
6. Exchange or swap for Theta using BTC-Theta trading pair.