Theta Network is one of the most promising crypto projects of the moment. It has many big company names as partners and is endorsed by reputed professionals. Since it has launched its Mainnet 3.0, which is a huge step forward in the development of Theta Network as a decentralized streaming platform, it has allowed people who own Theta Fuel (TFUEL) to stake it and earn even more.
What is TFUEL?
TFUEL is the transactional token for the THETA token in the Theta Network ecosystem, just in the same way that Gas is the transactional token for Ether on the Ethereum blockchain.
Create a Theta Wallet
If you want to earn TFUEL, and you don’t already have a wallet, you can create one here.
After the latest big update, you can buy at least 10.000 TFUEL and earn even more TFUEL passively by staking that amount. The minimum amount you can stake is 10.000 at the moment.
If you don’t want to make any purchases, you can still earn TFUEL for free, using the following methods:
1. Watch Live Streaming Channels on Theta.TV
Please pay attention to this! When you watch live streaming on Theta.TV, you are not watching a simple streaming channel, but one that delivers the highest video quality available right now, without interruptions for buffering, because there is no buffering needed. The reason is that the platform is fully decentralized.
Besides enjoying the full quality, you earn TFUEL every day just by watching channels and you will be able to use the accumulated currency to donate or sponsor the channels you like the most or redeem free subs. You don’t have to do this if you don’t want to.
You can keep accumulating TFUEL until you may be able to do something better with it, who knows what you will be able to do in the future with it, such as spending it on the TFUEL Store or you could sell it when its value on the market rises.
2. Use The Referral Program of Theta.TV
You can earn TFUEL for free by inviting other people to the Theta streaming network, but there is a condition to be able to do this. You need to have 40 referrals before you start earning. The earnings may differ from one month to another and may not always be in TFUEL.
3. Run the Theta Edge Node on Your Computer
Theta Edge Node is an application that you download and install on your computer or laptop and here you have all the options mentioned above to upload videos and broadcast, but also other functions that will help you to earn more TFUEL.
The Theta Edge Node will earn you TFUEL if you let it open on your computer. It will perform different tasks automatically, such as video encoding jobs, or caching jobs on the network. In fact, this is how the network is powered, by its users.
You can choose 3 levels of processing power, that each uses your computer more or less intensely: Light, Medium, and Full.
4. Be a Content Creator Using Edgecast
You can become a streamer yourself and receive TFUEL from donations. You need the Theta Edge Node mentioned above. In this application, you have the Broadcast option, that allows you to stream. Those who are already streaming on platforms like Twitch may already be familiar with the necessary things to do in order to bring a transmission live.
Some people who have tried Edgecast to go live say that is not very easy. I tried it myself and is not such a big deal to make it work, especially if you have streamed data before. I did it with OBS Studio, the app that is recommended by Theta Network, and I am a newbie in streaming.
You also have the opportunity to upload videos, just like on YouTube. Remember that you need a wallet for receiving donations from your viewers.
5. Watch for Airdrops on Theta.TV
Airdrops are limited-time offers or gifts that are sent to the inventory of THETA.TV accounts. When you receive them, you need to be aware and collect the prizes. If you want to be notified, you can download the official app on your phone. The prizes may consist of TFUEL, but there could be other surprises as well.
How to Setup & Run a Theta Edge Node and Start Earning TFUEL in 5 Minutes
Theta Network has been very hot in the cryptocurrency & blockchain space recently. Its two tokens, THETA and TFUEL, both experienced explosive growth in March. THETA went from $3 to an all-time high of $14, earning itself a spot as a top-10 token by market cap. Similarly, TFUEL — the gas token of the Theta blockchain — grew from $0.09 to its peak value, $0.54.
The cool thing about TFUEL is that you can earn it simply by watching Theta.tv, a streaming service that has a similar look & feels to Twitch. TFUEL earned this way can be used to tip streamers, subscribe, and purchase rewards. You can’t withdraw this TFUEL, though, or exchange it for other tokens. If you’re curious about Theta at all, start there. Sign up and give it a shot. (Note that the sign-up link is a referral; it’s okay to work around that if you prefer.)
The Theta Edge Node
If you’re like me, when you earn by streaming, your first thought is, “Oh! I should keep this thing going 24/7 to earn more free TFUEL.” You can definitely do that, but there’s a better way — a way that doesn’t require you to actually stream content, and you’ll earn rewards in a wallet where you can send & receive them as you see fit: the Theta Edge Node.
Here’s Theta’s documentation for setting up an Edge Node: https://docs.thetatoken.org/docs/setup-theta-edge-node.
Getting going is super easy; just download, install, and run. The only configuration is to enter your Theta wallet address, which will probably require you to do the extra step of creating the wallet if you don’t already have one.
Here’s the breakdown of exactly what to do, starting from scratch:
- Create a Theta wallet: https://wallet.thetatoken.org/create
- Download the Windows or macOS client: https://docs.thetatoken.org/docs/setup-theta-edge-node
- Install the client
- Run the client
- Enter your wallet address from step 1
Theta Fuel is the new premium currency on THETA.tv. Theta Token was phased out and is able to be converted into TFuel. The conversion is 10 TFuel for 1 THETA so your buying power in the THETA.tv store remains the same.
Yes, as long as you are watching streams on the THETA Network! Keep an eye out for channels with the TFuel icon on them to earn TFuel 24/7. Stay tuned to our Telegram, Discord, and Twitter for more updates.
Two main factors affect your earning rate: 1) the amount of other viewers you are sharing with and 2) your internet speed. You’ll automatically earn more TFuel for each viewer you are sharing your stream with, up to a maximum of 10 peers. Your internet upload bandwidth also will affect your TFuel earning rate.