Theta is a platform created for streaming video content by Theta Labs. The platform focuses on providing decentralized peer-to-peer services to users worldwide.
Theta Labs’s history starts in 2017. However, Theta mainnet is presented to the world only in March 2019. At its core, the Theta platform has a system of nodes. Nodes sustain the Theta system and help to distribute video content to the public. Not only this system makes it possible to stream in 4k and 8k resolution but also lowers the expenses for content distributors. You can watch 8k videos with minimal buffering on the Theta network.
The Nature of the Theta Network
THETA is the native coin of the network. You can use THETA for staking. The network uses its native coin for protocol governance. The more THETA coins you have, the bigger your share in voting is. Users with the largest shares of coins can play a key role in protocol decisions such as system updates, etc.
TFUEL is the second native token of the network. It’s responsible for transaction fee payment. In its turn, THETA is reposible for:
- voting system within the network;
- transaction validation;
- block production;
- earning TFUEL.
A system of nodes is an integral part of the network. It caches the system’s data accumulated by the videos and relays streams to platform users. To become either a Guardian node or Validator node, you have to stake a certain amount of THETA coins. It’s extremely challenging to become a Validator as there are only 16 of them within the system. On the other hand, there are 3658 Guardian nodes. They offset and double-check the intactness of nodes generated by Validators.
You have to have ten million THETA coins to become a Validator or one thousand to become a Guardian. Theta also has smaller nodes called Edge. They power the Theta platform. As of today, there are 131,135 Edge nodes.
What You Need to Safely Cash out Theta
There are three things you need to have to cash out your THETA tokens. These include:
- secure crypto wallet;
- reliable exchange;
- credit card.
There is no definite answer when it comes to choosing a crypto wallet. If you search for a secure and easiest wallet to set up then you should try a soft wallet.
Soft wallets provide you with complete control over your digital assets. There are no mediators in the process of using soft wallets. You don’t have to create an account and give away any of your personal data. Soft wallets are an advanced option for those seeking better control and security of their digital assets. Among the most popular soft crypto wallets are Jaxx, Exodus, and Trust Wallet.
After you’ve set up your soft wallet, it’s time to pick an exchange. Not every platform support THETA withdrawal and those that do are centralized. It means you will have to undergo a registration process to start using a platform. This procedure usually consists of several stages: provision of your personal info, ID document upload, and review process. Sometimes, you will have to undergo facial verification as well.
The review process can last up to seven days. If you don’t want to wait that long, or you simply want to stay anonymous, you should try a decentralized exchange.
It‘s crucial to use decentralized exchanges for swapping your coins. Centralized exchanges like Binance are easily manipulated and have an infamous history of blocking withdrawal of various coins. That’s where decentralized platforms like Godex come into play. With Godex, you will be able to anonymously exchange THETA and 300 other tokens.
Exchange Theta Anonymously with Godex
Bitcoin (BTC) is supported by almost all wallets and exchanges. If you want to swap your THETA tokens with BTC, you can do it anonymously with Godex. To convert THETA to BTC, you just need to follow this uncomplicated guide:
- Go to Godex.io.
- In the middle of the page, find two fields with numbers. By clicking on the right side of the “You Send” field, you will be able to choose a crypto you want to exchange (THETA). By clicking on the left side of the same field, you will be able to enter the number of THETA tokens that you want to convert to BTC. In the “You Get” field, you need to choose BTC and you will see the amount of BTC coins you will receive.
- Click the “Exchange” button if the ration suits you. After that, you will need to enter your BTC wallet address. Press the “Exchange” button one more time.
- Send the amount of THETA you want to swap to BTC via the generated link.
- Wait till your transaction is confirmed.
The exchange process is fast and takes from 5 to 30 minutes. Godex is a perfect tool to help you in the process of cashing out Theta. Keep your ID info strictly to yourself and stop worrying about your privacy by exchanging at Godex. In addition, you can enjoy 24/7 support on the platform. The exchange staff will help novice crypto followers to understand the issues of transactions.
After you receive your BTC tokens in your soft wallet, you can easily withdraw them to your bank account. The withdrawal process will differ depending on your wallet provider.
Conclusion
Withdrawing THETA tokens are not easy, especially when you want to do it safely. However, if you follow this guide, you will be able to cash out Theta anonymously, fast, and risk-free.
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