What is Theta Wallet? How to use Theta Wallet

Theta Network is a decentralized video delivery network that provides a wide range of blockchain-enabled solutions to the problems facing the traditional video-streaming sector. Theta Network aims to provide cheaper, more decentralized entertainment tools than competing centralized ones.

Coin98 users can create and restore Theta Network wallets on both EVM & non-EVM chains, as well as manage, and store THETA, the native token of Theta Network, ​​together with TFUEL and TNT20 standards.

To be able to skin in this blockchain, of course, you will need a Theta Wallet. In today's article, I will show you the details on how to create a Theta Wallet.

What is the Theta (THETA) Wallet?

The Theta wallet is where THETA and TNT20, TNT721 standard tokens are stored on the Theta blockchain. You can send and receive THETA tokens as well as interact with applications on the Theta platform.

In particular, this wallet is owned by you, so no one has the right to influence or use the wallet other than you.

What is included in a Theta Wallet address?

A Theta Wallet has 3 extremely important pieces of information you must take note:

• Wallet address: A sequence of numbers and characters used to send assets to the Theta wallet. Others can transfer coins to you through the wallet address you provide. A Theta (THETA) wallet address will have the following format: 0xdabE3D912A14E6AD2Ad4F5Cb3026aC866133c2d.
• Passphrase: A security key that can be understood as a password consisting of any 12 English keywords. If you want to perform the wallet recovery operation, you must go through the Passphrase login step. Format of a Passphrase: nut void trouble dog rubber file reduce piece daughter dynamic trial vanish.
• Private Key: A string of letters and numbers to connect to the account, quite similar to the password of a bank account. Format of a Private Key: 0xf32de76b3690edfefc94c21a0542b2cb6dc9fcac956fa5b12bdc1a12ba76b203.

To visualize, you can imagine that the Theta wallet is a bank account, the wallet address is the account number and the passphrase is the password.

The difference here is that with a bank account, other people will know your personal information. As for the Theta wallet, the user becomes anonymous, no one knows who owns the wallet, and transactions only occur through the address encoded into a sequence of numbers and characters.

Theta Wallet Review

There are many wallets on the market that support the Theta blockchain. Let's take a look at some outstanding Theta wallets in the crypto world.

Coin98 Super App

Coin98 Super App is a well-known super app containing crypto services, and it is the gateway of DeFi & Web3. After installing the Coin98 Super App, you can experience many of its features such as Dapp Browser, Terminal toolkit, Coin98 Staking,...  

Because it is a decentralized wallet pTHETAform, users are in complete control of their assets, no one has access to your wallet, including the developers. You can rest assured when storing THETA tokens here.

Learn more: What is Coin98 Super App?

MetaMask

MetaMask is a decentralized wallet based on the Ethereum ecosystem, as well as an add-on plugin that allows users to run dApps right on its browser. Despite the disadvantages such as not being able to log in to many wallet addresses, as well as manually updating assets, MetaMask is still a trusted destination for many people around the world.

Create a MetaMask wallet here: How to use Metamask Wallet

Theta Wallet

Theta Wallet is the official wallet for the Theta Network. Theta Wallet allows you to securely manage and store your native Theta and TFUEL tokens. 

Create a Theta wallet here: wallet.thetatoken.org

How to create a Theta Wallet on Mobile

This tutorial will guide you on how to create a new Theta wallet on both the mobile and desktop interfaces, so you can also install both to flexibly switch use.

Download and access the Coin98 Super App

Theta wallet is now available on the Coin98 Super App for both iOS and Android users.

After downloading the app, open the Coin98 Super App and select the language you want to use before directly accessing the wallet interface.

At this interface, you can create a new wallet or restore an existing wallet from other wallet applications to the Coin98 Super App.

Create the Theta wallet

Step 1: Open the application, at the homepage click the Wallet icon → Manage.

Step 2: Click Add Wallet and click on the Theta (THETA TNT20 TNT721) icon to create a Theta Wallet, or you can choose to create a Multi-chain wallet to own more wallets with just one passphrase (recommended) → Create. 

Step 3: Create a name for the wallet (name it something that you can remember or is convenient for later use). Click Next. 

Step 4: Back up the Passphrase in a safe place.

Note: These are CRUCIAL information that directly affects control over your assets.

• Copy and paste the Passphrase into the Confirmation box.
• Tick ​​the Backup your recovery key box and click on the copy icon to confirm that you have saved your Passphrase/Private key. You must save the security key in a safe place and do not disclose it to anyone. Otherwise, your account is at risk of being stolen if someone knows these sequences of characters.
• Tick ​​the two remaining boxes to confirm that you understand the risks if you lose your Passphrase.

Click Create Wallet.

Once done, you can also go to Manage → Manage All Wallets to check the newly created Theta wallet. 

How to create a Theta Wallet on Desktop

Install Coin98 Extension Wallet

You can access chrome.coin98.com to install the Coin98 Extension Wallet.

For instructions on installing and using Coin98 Extension Wallet, you can refer to this guide here. 

Create the Theta wallet

Step 1: Open the Coin98 Extension Wallet and insert your password. At the main interface, click Manage. Click Add Wallet.

Step 2: Select the Theta wallet icon → Create Wallet.

Step 3: Create a name for the wallet (name it something that you can remember or is convenient for later use). Click Next.

Step 4: Backup the Passphrase/Private key in a safe place.

Select Create Wallet.

How to use the Theta Wallet

Add tokens

Option 1

This process is similar on both the mobile and the extension versions, so you can follow these steps for both.

Step 1: Click the Theta wallet on the main screen.

Step 2: Click Receive.

Step 3: Copy the wallet address or scan the QR code address and send your assets to this address.

Option 2

Step 1: Click the search icon on the main screen.

Step 2: Enter THETA, TNT20 token in the search bar.

Step 3: Click the icon to copy the wallet address or get the QR address and send your assets to this address.

You can send THETA, TNT20 tokens to the address copied in step 3.

Send tokens

This operation works the same on both the Coin98 Super App and the Coin98 Extension Wallet. I will give an example of how to send THETA stored in the mobile wallet.

Step 1: Click the Theta wallet 

Step 2: Choose Send.

Step 3: Select the token, insert the number of tokens you want to send & the wallet address to send to. Adjust the Gas fee slider to suit your needs → Slide the Send bar to confirm. 

In addition, you can also go to the Send section in the main interface, then select the Theta wallet you want to send from.

Note:

• The gas fee for each transaction is paid with THETA, approximately 0.3 THETA 
• The default gas fee on the Coin98 Super App has been set at the standard rate that offers the most optimized speed at a reasonable cost.

Use the Theta Wallet Explorer to check the transaction history

Theta Wallet Explorer is the Theta ecosystem explorer, allowing access to information such as wallet addresses, cryptocurrency transactions, smart contracts, etc. Complex data is easier to grasp now than ever before.

Theta Explorers that are commonly used by many users is explorer.thetatoken.org

Some notes when using the Theta wallet

Is it safe to store THETA tokens in Coin98 Wallet?

Coin98 is a non-custodial wallet, which means, full control of assets belongs to you, no one has access unless you disclose the key to others. Therefore, it is perfectly safe for your assets.

Is there a fee to transfer THETA tokens?

Sending THETA tokens from a Theta Wallet will cost the blockchain platform fee in THETA.  

Is it possible to create multiple Theta wallets?

Yes!  You can create as many Theta wallets as you want. Each wallet will have a different address and passphrase, so remember to save each of them. Each wallet should be named so that you can easily manage them if you create multiple Theta wallets. 

Can Theta wallets store other coins?

Theta wallets can store THETA tokens supported by the Theta blockchain platform. Otherwise, do not transfer any coins on other blockchain platforms to Theta wallet if you do not want to lose your assets.

What is the best Theta wallet app?

For those who mainly interact with Theta, the EVM blockchain wallet such as MetaMask will be one of the options worth considering.

For those who use a lot of blockchain platforms and Solana is among them, the Coin98 Super App is a great choice for you.

Learn more:  What is Injective Wallet? How to use Injective Wallets