Theta
How to Stake Theta (THETA)
Last updated
Bridgetower Staking
How to Stake Theta (THETA)
Last updated
Theta Network is the next generation media and entertainment focused blockchain. Theta infrastructure enables existing video and media platforms to drive incremental revenues and reduce content delivery CDN costs while rewards end-users for sharing their storage and/or bandwidth on any PC, mobile, Smart TV or IoT device. Theta supports Turing complete smart contracts and is fully compatible with Ethereum. This enables a wide range of interesting Web3 applications to be built on the Theta Network.
Theta Network is a "dual network" consisting of two complementary subsystems, the Theta Blockchain and the Theta Edge Network. The Theta blockchain provides payment, reward, and smart contract capabilities, while the edge network is responsible for the storage and delivery of media assets like images and videos.
There are 2 tokens native to the Theta network: Theta Fuel (TFUEL), which is how participants in the network are rewarded for sharing their computing power, and THETA, which is the governance and staking token. In the context of Theta, staking is where you are rewarded for allowing some of your computer's processing power to function as a node in the Theta network. To become a node on the network, holders of the native cryptocurrency token THETA must lock away a certain amount of their token holdings.
Unlock the full potential of your staking activities with Bridgetower, the Switzerland-based blockchain infrastructure provider. Benefit from their impeccable track record of maintaining a 99.999% node uptime and managing over 10,000 nodes, ensuring uninterrupted access and reliable performance. Bridgetower's commitment to sustainability is evident through their exclusive use of certified renewable energy from Swiss hydropower plants, providing a carbon-neutral operation. Choose Bridgetower and experience a trusted, profitable, and eco-friendly solution for staking.
Note: to stake in the Theta network, you need to hold THETA tokens but will be rewarded in TFUEL. You need to stake at least 1,000 THETA. Also, make sure you have at least 1 TFUEL in your wallet to pay for the transaction fee. After the stake deposit transaction is confirmed, you can switch back to the Guardian node to verify that it is working as expected.
This guide will cover staking via Theta Wallet.
Bridgetower’s Theta Node ID:
Note: You need to stake at least 1,000 THETA and at least 1 TFUEL in your wallet to pay for the transaction fee.
You will have several options to create or access your wallet, which this guide will cover the options to:
a. Create new wallet - generate new recovery phrase [See 2a]
b. Access existing wallet - unlock wallet with private key [See 2b]
c. Access existing wallet - unlock wallet with mnemonic key phrase [See 2c]
d. Access existing wallet - unlock wallet with keystore [See 2d]
i) Click on “Create Wallet”, input desired password, accept terms checkbox and click on “Download Keystore”. Your keystore will automatically download to your device.
ii) Click to “Continue” to view your Mnenomic phrase. Write down your Recover Phrase in the exact order given and then click on “Continue”. You’ll also have the option to view and copy your Private Key here.
Important: It is not safe to take a picture or make a screenshot while saving a recovery phrase. Do not store your mnemonic password on online media and do not share it with anyone, otherwise, your funds may be stolen.
iii) Click on “Unlock Wallet” to continue.
i) Select “Private Key” and copy and paste private key. Input desired password and click “Unlock Wallet”.
i) Select “Mnemonic Key Phrase” and copy and paste recovery phrase in exact order on the screen. Input desired password and click “Unlock Wallet”.
i) Select “Keystore” and “Choose Keystore File” saved on your device. Input desired password and click “Unlock Wallet”.
Once transferred, click on "Stakes", then "Deposit Stake" and then "Validator Node".
Input 0xfae4efad7fcc8e3d76dc53ee92c91d88fb7388aa in Validator Node Holder (Address), desired staking amount, & click on “Next”.
Copy your THETA address by clicking on the “My Wallet” copy icon on upper right corner of your dashboard and paste into another wallet to initiate THETA deposit to your wallet. THETA and TFUEL wallet addresses are the same.
