How To Short Theta (THETA)

    • James Page

James HeadshotAuthor: James Page - Last Updated on June 28, 2022

Summary: Shorting Theta is pretty straightforward, all you need is a cryptocurrency trading platform that allows for short selling. While there are a few exchanges out there that have added the ability to short crypto, our recommendation is to use eToro. They’re well-known, have a global presence, and are trusted by millions of users from 100+ countries.

We’ll be using eToro in our guide, you can sign up with one of the sign-up buttons below.

Global: Sign up with eToro

USA: Sign up with eToro US


Before we get started, let’s quickly explain what shorting is (for those that are new to it). Shorting is the practice of selling a cryptocurrency hoping it will drop in price so you can buy it back later for cheaper… which, if successful, will give you a net profit.

It might sound a bit complex but don’t worry, it’s a lot easier than you might think.

How to Short Theta

Shorting Theta can be done in 4 steps:

  1. Find a cryptocurrency exchange
  2. Sign up with the exchange
  3. Fund your account with fiat or crypto
  4. Short Theta

1. Find a cryptocurrency exchange

As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.

You can, of course, use any other crypto trading platform that allows for short selling.

etoro crypto

2. Sign up with the crypto exchange

Let’s start with creating an account on eToro.

Global: Sign up with eToro

USA: Sign up with eToro US


eToro sign up form

The sign-up process is very easy, as is the verification that needs to be completed afterwards so you can get started.

3. Funding your eToro account

Next is funding your account. You have several deposit methods to choose from when depositing funds into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.

4. Short Theta

These are the steps to follow to execute a short sell:

  1. Go to the search bar at the top, find Theta by entering the name.
  2. On the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
  3. At the top of the trading interface: Click on sell to short the crypto.
  4. Enter the amount for which you want to sell Theta and click on “Open Trade”.

Once you’re ready to close the trade, hopefully when the value of Theta has dropped, go to your Portfolio, find the Theta trade, and click on the red cross to close the trade.

If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.

Congratulations, now you know how to short Theta!

Global: Sign up with eToro

USA: Sign up with eToro US


Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.


Where to Short Theta (THETA)

Aside from eToro, the other major exchange you can use is Binance.

While Binance tends to be a bit more advanced when compared with eToro, they do have a lot more digital assets to trade with.


Frequently Asked Questions

Can I short Theta on Binance?

Yes, you can short Theta on Binance. They have over 300 cryptocurrencies on offer, have a decent phone app and a lot of advanced trading features.

About Theta

Theta Network is a decentralized streaming video network powered by blockchain technology. Theta allows users the ability to view video content and be rewarded with tokens for sharing their internet bandwidth. Theta Network is backed by Node Capital, DHVC and a group of institutional investors. Justin Kan, the co-founder and CEO of Twitch, advises Theta Network.

Theta's video streaming service relies on a distributed network which provides bandwidth and computing resources for Theta. In return for Theta Fuel, (TFuel), reward, these users are rewarded with Theta Fuel.

Theta is based on a modified Proof-of-Stake consensus mechanism. It uses a multi-Byzantine Fail Tolerance (BFT), which involves a committee of 20-30 Validator and a second later of thousands Guardian nodes. This helps speed up approvals, and is quicker than traditional proofs-of-work networks. Theta's multibFT design allows for a healthy balance of consistency, speed, as well as decentralization.

Theta Edge Nodes power Theta's Network's content distribution and storage capabilities. The Validator nodes and Guardian nodes are also operated by Theta members. These Theta Edge Nodes make up Theta EdgeNet, which is fully decentralized for data distribution and edge computing. Edge nodes, which allow users to transmit live video, transcode and distribute video content, as a well as share bandwidth across a network worldwide, are vital. Theta's P2P content sharing ecosystem relies on the network's edge nodes for its backbone.

Theta supports Turing complete smart contracts. These smart contracts allow for new user experiences as more DApps can be built on Theta. Theta later launched the Theta Token Minter. It allows any user create new TNT-20 coins on the Theta network without needing to have smart contracts experience. Users simply have to input their token name and ticker symbol. The Token Minter will then mint the new tokens. The Theta blockchain allows token minting in a non-technical manner. There are many DApps that can be built using this protocol.

ThetaNet uses a dual-token design for its operations:

THETA is Theta Network’s native token and serves multiple governance purposes. THETA is used as a Validator or Guardian token. Its Validator note are owned by Google and Blockchain Ventures. They also have Samsung, Sony Europe, Binance, Binance, and a number of community-run Guardian Nodes. Users get a share of new Theta Fuel when they stake and operate a node.

Thetafuel (TFUEL), which is the operational token in the Theta Protocol, is Theta. TFUEL is used on-chain to pay for transactions such as remuneration of Edge Nodes relayers sharing video content and interacting using smart contracts. Relayers on Edge networks can earn TFUEL every time they relay video streams to other users on their p2p network.