Buy Theta Token in India — Step by Step guide for beginners guide
How to Buy Theta in India?
What is Theta Network Token?
Theta Network is the leading blockchain-powered video delivery network. Theta allows users to watch video content at the same time while earning token rewards for relaying video to other users who are also watching the same content.
Users opt-in to volunteer their spare bandwidth and computing resources to relay video to other users in the same way that other sharing economy models do, and they earn token rewards for their contributions. Contributions to Theta Network can be made from any PC, mobile device, or smart TV. Integrating Theta into a video platform’s video delivery stack allows it to lower video delivery costs, increase viewer engagement, and drive incremental revenue.
At its root, Theta allows users to share idle memory and bandwidth in order to strengthen the overall network by mining Theta tokens and providing cache and relay video streams to others on the network. As a result, Theta provides incentives to all network participants. The block payment is not fixed; instead, the team devised a mechanism to determine a “reputation score,” with the higher a user’s reputation score, the greater the block reward.
Key elements of Theta include:
- Theta platform does not want viewers to have to pay to gain access to low-quality video streaming services: The Theta team identified a number of issues with today’s content delivery networks (CDN). To begin with, these networks are described as having insufficient global reach, with technical issues such as stuttering, pauses, skips, and poor video quality still plaguing many geographical regions.
- Theta wishes to offer high-quality video streaming without incurring prohibitively expensive technology costs: Publishers must now deploy and maintain costly infrastructure for video delivery. Because publishers must bear the brunt of these costs, less revenue trickles down to content creators, stifling business creativity and innovation.
- Theta’s P2P model aims to promote decentralization and a more equitable reward distribution system: Because of excessive centralization, current economic models for operating CDNs are perceived as providing fewer rewards for an increasing number of participants. Theta developers claim that the majority of the pie goes to advertisers and platforms, while viewers and content creators get the short end of the stick. Within the Theta ecosystem, viewers can use their tokens to directly reward content creators.
In December 2017, the Theta Network launched with ERC20-compliant coins and was integrated into the SLIVERtv platform. The Theta blockchain mainnet code has been released, and the first live mainnet implementation is scheduled for March 15, 2019, at which time each ERC20 Theta token will be swapped for native Theta tokens at a 1:1 ratio. Aside from being utilized as a monetary reward for contributing network resources, the Theta token can also be used in a variety of other ways:
- It can be used as a reward for caching streams and rebroadcasting
- Users can donate in Theta to support streamers and video content creators
- It can be used to fund advertising campaigns by advertisers
- It can also serve as a reward for viewers from advertisers for paying attention to advertising content
How to Buy Theta Token in India?
THETA, the platform’s main token, is freely trading on major exchanges. Cryptocurrencies, fiat currencies, and stable coins are all available as pairs. The best choice to buy THETA is BuyUCoin, which has one of the greatest THETA-INR trading volumes in India.
It is a five-step procedure. First and foremost, the account must be registered after opening the digital wallet. After the KYC process is completed, users must complete Google 2-Step Verification, followed by entering bank credentials, before they can begin investing in Theta.
Buy Theta Token in India — Step by Step Guide For Beginners
BuyUcoin is an exchange that provides buying and selling Theta in India as well as other cryptocurrencies. Below is a step by step guide to buying Theta via BuyUcoin:
Step 1 — Open a Digital Wallet
A digital wallet houses your cryptocurrencies and uses blockchain technology to communicate with other citizens. It is important to make in-depth research before you decide what one is best for you, however, there are several providers of digital wallets. Today, BuyUcoin’s the leading digital wallet provider.
Step 2 — Register & Open an Account
When you enter the BuyUcoin register/Sign Up account and open a service account. Choose your person or company form of account. Choose your country and adhere to the terms and conditions of your crypto-trading account.
For the Indian jurisdiction, KYC and AML are compulsory. Your data are secure and encrypted and stored only in Indian data centers. To complete your KYC, you are redirected to another URL. With your last selfie, please be ready. Pictures of your pan card will be required. The mobile number connected to your Adhar is important.
Step 4-Google 2 step Verification
To use 2FA, the Authenticator app must be enabled on your smartphone or tablet. If enabled, any time you log in to your BuyUCoin account, you will be asked to include a 6- digit one-time password with your email and password. This only functions when an email and password are entered.
Step 5-Add Bank details
Add your name credentials, the account name of the holder, and the IFSC code information.
The market cap of the THETA token is $6,742,259,756 USD, and which has a circulating supply of 1,000,000,000 THETA coins and a maximum supply of 1,000,000,000 THETA coins. 1,000,000,000 THETA coins are available.
This supply ratio is intended to reassure potential investors by preventing unexpected dilution of the supply pool. Theta tokens can be purchased on cryptocurrency exchanges such as BuyUcoin, Binance, Bithumb, and Huobi, with trading being especially popular in Korea. Theta tokens can be stored in any wallet that supports the ERC20 standard once purchased.
Can I Use Regular Money to Buy Theta?
Yes, with regular money you can buy Theta in India. Theta is meant to help people who make the most of the company benefit from it. Yes, you can use regular money or any fiat currencies such as THETA-INR in India to buy Theta Token where Theta Token can be stored in your wallet with a single tap to buy or sell your desirable cryptocurrencies without any hidden transaction fees using one of India’s leading cryptocurrency exchange BuyUcoin.
Getting a Theta Wallet
First, you will need a safe cryptocurrency wallet like BuyUcoin wallets or any other type of wallet to guarantee fewer transaction fees if you don’t want to lose your Theta.
BuyUcoin is a multi-currency crypto wallet where Theta Token can be stored with high-end security features where cold storage wallets are used. Once we have sent the Theta Token to your wallet, we will send you a confirmation email. The Theta Token will appear in your wallet when you restart the BuyUcoin wallet.
If you wish to convert Bitcoin for Theta Token, BuyUcoin is one option. You may even buy Theta with a credit card or debit card through an easy-to-use interface. BuyUcoin demands your ID and address when you register. This complies with anti-money laundering (AML) legislation and is familiar with your customer’s legislation (KYC).
Many exchanges regard ID checks to be the ideal solution, despite the fact that they are technically not a legal requirement in most countries. It aids in the avoidance of the use of exchanges for illicit behavior. However, there are valid reasons why your ID should not be divulged to a trader who is aware of the trade and your privacy.
Using decentralized blockchain technology, Theta Token’s team has devised a solution to the “last-mile” problem. As a result, the world’s first Decentralized Streaming Network was created (DSN). The streaming of gaming and eSports content and events is Theta’s first target market. SILVERtv is only one of the sites that have used the Theta Platform. Others are following suit: Samsung VR, PandoraTV, a large Korean video streaming site with 15 million+ monthly visitors, and MBN, a Korean TV network, are among the first to adopt Theta. Theta has also formed alliances with Steam, a video game provider, and Aelf, a decentralized cloud computing blockchain. Another important collaboration is with the startup accelerator Play Labs.
Not only that, but Theta Labs received the first decentralized streaming patent in September 2020, covering “Methods and Systems for a Decentralized Data Streaming and Delivery Network.”
Without a doubt, video streaming is in high demand in the twenty-first century, and the Theta Token team hopes to make their platform the go-to blockchain for video streaming. It remains to be seen whether they will be successful, but they have a very talented and experienced crew, as well as a strong vision. Furthermore, they have a solid basis because of SILVERtv and their early agreements with major players.