Theta Fuel
TFUELTheta is known specifically for its decentralizing video streams, data conveyance, and edge computing features. These features make the network more efficient, less expensive, and equally fair for users. Unlike conventional cryptocurrencies such as Bitcoin, Theta is powered by two native tokens known as Theta (THETA) and Theta Fuel (TFUEL). Users are rewarded with TFUEL coins for watching network content and sharing network resources. Furthermore, users can buy TFUEL from any TFUEL exchange. We will show you how to buy Theta Fuel, where to buy Theta Fuel, and which TFUEL wallet you can use to store your TFUEL crypto.
Theta Fuel Exchange Rate
TFUELWhat is Theta Fuel?
Although TFUEL crypto is one of the native tokens on the Theta blockchain, it does not serve the same purpose as Theta token. TFUEL is a utility token of the network, used in decentralized video and data delivery while acting as a gas token, hence, powering all operations on the Theta network. Ranging from a form of payments to relayers for sharing video streams, deploying and interacting with smart contracts, and transaction fees associated with NFTs and Defi Apps.
Users are also incentivized with TFUEL tokens for sharing their redundant computing power as Edge computer nodes as well as bandwidth resources as Edge Caching nodes for video streams and related data. The entire Theta ecosystem came into existence in 2017 with Mitch Liu co-founding the project.
Theta token on the other hand is a governance token of the theta blockchain. The Theta ecosystem hosts thousands of community-run Guardian nodes and its enterprise validators including Google, Binance, Blockchain ventures, Gumi, and Samsung who support the Theta network.
Key features
PoS consensus
Like many protocols that are conscious of energy consumption, TFUEL crypto utilizes the Proof-of-Stake consensus algorithm to run its ecosystem. This ensures a significant throughput. Any device can access the consensus algorithm without restrictions.
Increased transaction rate through validator and guardian nodes
There is also the consensus mechanism mapping done through a multi-level Byzantine Tolerance system. In this situation, the Validator and Guardian nodes are very vital. This will allow Theta network to enable a higher transaction throughput and achieve a TPS of 1000+.
In addition, there are three unique features to the Theta ecosystem, which are:
- Viewers are rewarded with better quality streaming service
- Content creators get to improve their earnings
- Middlemen (Video platforms) save money on building framework and increase advertising/subscription revenues
THETA ecosystem
As said earlier, Theta’s main use case circles around decentralizing video streams, data delivery, and edge computing, powered by its two native tokens THETA and TFUEL. There’s also the threefold appeal that makes the network more unique, which has been listed in the introduction.
After the successful launch of the main-net 3.0 with about 40% of Theta Fuel tokens already staked and over 8,000 Elite Edge nodes, Theta blockchain was brought closer towards a complete implementation. Protocol improvements are bound to continue as new features are added. Nevertheless, Theta’s primary focus has now been shifted to building the Theta ecosystem and accelerating the adoption of Theta as the leading media and entertainment network.
With that in mind, Theta is also presenting the new TNT-20 token named “TDROP”. TDROP is to be developed on the Theta blockchain to reward NFT liquidity mining, provide decentralized governance using TDROP staking while rewarding validators and guardians on Theta. TDROP is scheduled to launch on February 1, 2022.
TFUEL crypto
Just as the name suggests, TFUEL Theta is the gas token of the Theta blockchain. This means TFUEL is used to cover gas fees on transactions like setting up caching nodes or smart contracts creations and interactions. You can find similar features on the NEO and ,a href="/currencies/ethereum">Ethereum blockchain.
Furthermore, TFUEL can be earned by either staking THETA tokens or providing caching power to other users. You can also earn TFUEL by interacting with the Theta.tv platform.
As of December 20, 2021, the TFUEL price is at $0.1832 with a daily trading volume of $30,967,324. Currently, it is ranked #89 on CoinMarketCap with a circulating supply is 5.30B TFUEL coins and a live market cap of $972,193,305.
Since Theta runs on the Proof-of-stake algorithm, staking Theta tokens is possible. In addition, the circulating supply of Theta is the max supply. Users need to have the least of 1,000 TFUEL and stake them to a Guardian node or run a personal Guardian Node to earn TFUEL. You can also buy TFUEL crypto on several TFUEL exchanges where the token is listed. To learn where to buy TFUEL, check the next section.
Where to buy Theta Fuel: TFUEL exchange at the best rates.
TFUEL exchange on Swapzone is quite easy – just go to your browser, type Swapzone on the search bar, and click on the first link that opens up. Once here, follow these simple steps:
- Step 1: On the left side of the screen, you’ll see the “Select a Pair” heading. Choose the cryptocurrency you wish to exchange TFUEL for, say, BTC, from the dropdown of “Send”.
- Step 2: Pick TFUEL and specify the quantity of purchase under the option “Get Up to”.
- Step 3: The filter is now active and you’ll see the offers listed on the right side of the screen. Browse through all offers and decide which one works best for you.
- Step 4: Click on the “Exchange” button to open up a prompt. Now, go to your cryptocurrency wallet and choose the receive option there. specify the wallet address and click on “Proceed to Exchange” to process your payment.
- Step 5: An address is generated here. Send your BTC to this wallet. Once done, wait a while for confirmation on the Swapzone screen. Once confirmed, you’ll see “exchange in progress”. Once done, you’ll be able to see the amount expected vs the amount received based on floating rates if you did not pick fixed rates.
- An optional addition to step 4: You can also paste your wallet address in the “address to refund BTC”. In case of errors or transaction failures, this is the wallet where your BTC will be refunded. The default wallet address is set to the one you sent your BTC from.
- Tip: Look out for tags like “Best Rate” or “Fixed Rate” on your offers – these come in handy specifically for beginners.
TFUEL wallets
It is easier to store TFUEL coins on exchanges after buying them but it’s also recommendable to store your TFUEL crypto on a dedicated TFUEL wallet for security and long-term storage. Ideally, hardware wallets offer the best of securities but they are costly. Hardware TFUEL wallets like Ledger wallet are advisable for storing an enormous value of TFUEL tokens or long-term storage.
The THETA network has its own dedicated wallet too, which you can access from here. There are also other dedicated wallets that you can use like Trust Wallet.
Frequently asked questions
What is the Theta Fuel exchange rate?
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Where to find the lowest transaction fees?
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
What is average transaction time?
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
How to choose a cryptocurrency wallet to store Theta Fuel?
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
What is the best cryptocurrency exchange for beginners?
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
What is Swapzone?
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
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