Staking is growing in popularity in the crypto market. In fact, an increasing number of projects offer the option of investing assets in order to earn modest passive income. Theta, a cryptocurrency created with the aim of improving video streaming, has also done the same. However, it can be difficult to indulge in bets if you are new to the market.
In this article we introduce you to Theta project, its use cases and a step-by-step guide on how to get started with your cryptocurrency storage.
Contents :
- What is theta crypto?
- Can theta attach?
- How do you share theta?
- Step One: Create Your Crypto Wallet
- Step 2: Buy Theta Crypto
- Step Three: Withdraw Your Tokens
- Step 4: Theta Mask
- Is Theta Sticking Worth It?
What is theta crypto?
Theta aims to Solve problems posed by the growing demand for video streaming and virtual reality. While for YouTube or Netflix users, the process may seem simple, the demand for computing resources they require on the other side of the screen is very important.
Content delivery networks are contributing to this process, but they are under pressure. So against the strength of the network, Theta token holders receive additional tokens. This eases the demand for these networks and in return provides income for their owners.
Can theta attach?
Although it is not possible to put all the cryptocurrencies in the sector into staking, Theta is one of those that have this functionality. In order to “participate” in a cryptocurrency, it must be placed on the blockchain for various uses, such as computation or network power, as described above. So it is already possible to put theta cryptocurrency into a cache state.
How do you share theta?
To bet Theta crypto coin, you need at least 1,000 theta symbols. At current prices, this is roughly equivalent to 1400 USD.
If you have 1000 tokens required, you can use the Theta web wallet to install them there, even A maximum of 10,000 tokens.
However, there are minimum conditions that must be met in order to be able to share your Theta, which are related to your PC’s specifications. Theta Sticking Bonus is paid Tfuel . symbols. These things can also be used to increase his earnings.
Currently, You need a computer with the following specifications for Tetha or Tfuel staking :
- 5Mbps internet connection
- 8 GB RAM
- At least 4 core processor
However, the majority of computers meet these standards, which makes storage accessible to most people.
Step One: Create Your Crypto Wallet
To bet Theta crypto coin, you need a file theta walletwhich you can get by visiting thetatoken.org.
To do this, click onwallet“at the top of the page and on”Create a walletOn the next page. You will then be directed to the account registration process, which will require you to create a password.
Once you create a password, you will be prompted on the next page of Download Keystore, which is required to log into your account. In addition, this page will provide you with a file twelve word sentence This allows you to recover your wallet in case you forget your password.
Step 2: Buy Theta Crypto
Before you can bet on Theta, unless you already have this crypto, you will need to purchase some from the exchange of your choice. In this presentation, we will be using Binance; However, this code is available on other crypto platforms.
First go toBuy cryptocurrencyFrom the Binance website and select Theta into receiveFrom the drop down menu. Enter the amount of the token you want to buy. For example, we just entered 15 (the minimum amount for Binance), but the minimum required for theta staking is 1,000 tokens.
Click on “continueTo go to a page where you are asked to complete the transaction. Confirm your details, including the Card Verification Code (CVV) on the back of the card being used.
Then you should be able to buy your own crypto. This will then appear in Your Binance Wallet.
Step Three: Withdraw Your Tokens
The next step is to go to your Binance wallet and click on “Withdrawsat the top of the page. This will take you to the page below.
then you Find your theta wallet address by going to wallet.thetatoken.org; Log in by uploading and downloading the previously created and downloaded Keystore file, and entering your wallet password.
Then clickOpen the walletOn the next page, clickto receiveAnd copy the wallet address.
Enter your Binance wallet address and the amount you wish to withdraw. In this example, we don’t have any tokens, so this option is not displayed. Finally, at the bottom of the page, click onWithdraws“.
Binance Claims must be received within 2 minutes; However, in some cases access takes several hours.
Step 4: Theta Mask
Once your wallet contains at least 1000 Theta Tokens, click on “quotasIt may take some time to collect this amount of tokens.
From there, you need to click on “Deposit shares“, then on”Delegated guardian knotThis option allows you to use the nodes that other community members provide for storage. Select one from the list, then on the next page, Enter the storage amount.
The node you choose is important because it can determine the amount of fees you pay to the node’s host. Unless you have a lot of Theta codes, this is your only option.
but, for TFuel codeswhich is the type of token in which you will get your staking reward, you can participate in 10000 Tokens.
Unless you have a lot of theta symbols, the community consensus seems to point to it The best option is to share your cryptocurrency on an authorized trustee node. Once you choose a node to authorize staking and confirm the amount to be placed, you may need to approve the transaction.
Whether you choose a node that charges or not, Platform fee 0.3 TFuel. This is a small amount, but once the transaction is complete, your Theta will be locked into staking until you ask the platform to unlock it. The longer you hold your staking tokens, the higher your winnings will be.
You can convert TFuel to additional Theta tokens at Theta.tv.
However, it is important to note that TFuel tokens currently offer a much lower value than Tetha crypto. At the moment, TFuel is around $0.06, compared to $1.43 for the Theta. This means that you will needJust over 23 TFuel to get one Tetha token.
Is Theta Sticking Worth It?
Although it is still unknown, Theta cryptocurrency has some potential, especially due to its use case. When it comes to Theta staking, it is possible to win Between one to two TFuel tokens per dayAccording to experiences reported by members of the theta community.
TFuel provides a service to calculate your return. Don’t expect to become a crypto millionaire overnight.Unless you have a very large start-up capital.
One of the drawbacks of this activity is that unlocking the tokens and withdrawing your reward can take a long time. In fact, the waiting time is currently 60 hours. Therefore, grabbing this asset requires some patience.
With sufficient capital, it is possible to earn several thousand dollars annually. If it’s worth it to you, go for it. If you are looking for a little extra income, this may be enough. However, this is not enough income for the average owner.
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