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Theta Network(THETA) Online with Wigwam crypto app
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How to buy and hold THETA with Wigwam
1. Choose a token number that you want to buy
2. Create a wallet, where to store your crypto
3. Pay with credit card
4. Check your crypto in the created wallet
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The Theta Network (THETA) Token Review
THETA is the governance token of the Theta network, a decentralized platform designed on the Theta blockchain to deliver improved video streaming and content delivery than traditional CDN platforms.
About the Theta Network
Theta network was introduced as a protocol to revolutionize video streaming and content delivery in 2017. Two years later, Theta launched mainnet 1.0 to create a distributed network for users to share bandwidth and computing resources without third-parties. Then, following the release of versions 2 and 3, Theta upgraded to mainnet 4.0 in 2022. It introduced features that supported DeFi and NFTs and made content delivery more efficient for users.
In 2017, THETA was launched as a governance token for users within the Theta network. Holders use the coin for staking and voting on changes within the ecosystem.
The THETA Token Use Cases
- Staking - Staking THETA coins can turn users into Guardian nodes or validators, contributing to the network's operation and security in exchange for rewards.
- Network Node Requirements: THETA tokens are used as a stake requirement for different node roles on the network. Becoming a guardian node requires staking a minimum of 1,000 THETA and 200,000 coins for a validator node.
- Governance: Users can actively participate in the governance of the Theta Network by voting on development plans and protocol upgrades using THETA tokens
- Exchange: Users can swap the THETA tokens for different cryptocurrencies, including stablecoins, on various crypto exchanges.
Economic value
The THETA token has a live market cap of $1,297,964,279, with 1 billion coins circulating out of a fixed total supply of 1 billion. Due to its fixed supply, users cannot emit new tokens, and with no burn mechanism in place, the coin's inflation rate is precisely 0%.
The initial allocation of THETA tokens is as follows: Lab Reserve 36.28% (362,800,000), Private Sale 30.00% (300,000,000), Network Seedings 12.50% (125,000,000), Partners 12.50% (125,000,000), Team 7.49% (74,900,000), and Advisors 1.23% (12,300,000).
Holders staking THETA tokens can secure the network, vote on the platform changes, and propose new blocks by becoming Guardian nodes and validators. The coin's current price is $1.30, and investor sentiment and overall market trends influences its value.
Challenges
As the Theta network governance token, the long-term viability of the coin is connected to the platform’s success. However, the crypto market's unpredictable nature introduces uncertainty, and the token competes with emerging projects sharing similar use cases.
Disclaimer
This article is for informational purposes only and should not be interpreted as financial or investment advice. The views expressed herein represent solely the opinion of the author and are not intended to provide specific trading or investment recommendations. We do not guarantee the accuracy, completeness, or reliability of the information contained in this article. The cryptocurrency market is known for its high volatility and unpredictable fluctuations. Investors, traders, and anyone engaging with cryptocurrency are advised to conduct thorough research, consider a variety of perspectives, and acquaint themselves with applicable local regulations prior to making any investment decisions.
FAQ
Buy THETA tokens effortlessly in the Wigwam crypto wallet or through crypto exchanges. Create and verify your account on Binance or Bitfinex exchange, deposit funds, and make your purchase. Also, you can directly buy this token on OKX, KuCoin, or Bybit exchanges.
Yes. To successfully stake THETA, follow these easy steps:
- Ensure you have a minimum of 1000 THETA in your wallet for staking.
- Visit thetatoken.org and create a Theta wallet.
- Click "Unlock Wallet" and proceed to purchase the required staking minimum or more on crypto exchanges if you need this.
- Navigate to "Stakes" on the dashboard, then select "Deposit Stake."
- Choose "Guardian Node" as your staking option.
- Access the list of nodes on the network, choose one that suits your preference.
- Enter the staking amount, and click "Confirm and Deposit Stake."
Use blockchain explorers to conveniently monitor THETA address activities. ThetaScan and Theta Explorer are suitable for new and experienced users. ThetaScan allows users to check transactions and block history, while Theta Explorer provides insights into blocks, transactions, and circulating supply information.
Add the THETA tokens successfully to crypto wallets that support the Theta chain, such as Theta wallet and Metamask. Install the wallet and navigate to settings, select network and click add network. Choose Theta Mainnet from the dropdown. After connecting to the network, click Add Token, search for THETA, and import your coins. If the assets are not visible in your wallet, follow the manual procedure. Click "custom token," enter the correct THETA token address. For Ethereum it should be: 0x3883f5e181fccaF8410FA61e12b59BAd963fb645. Then, input "THETA" for the symbol and "18" for decimals. Confirm the details, and your THETA assets will be visible in the wallet.
The risk associated with acquiring this token is the volatility of the crypto market, where a decline in value could result in financial losses for buyers. Also, uncertainties arise from challenges posed by emerging crypto projects with similar use cases.
