Loading...

How To Mine Helium in 2022 (Complete Guide)

There is no doubt that mining is an essential part of the crypto market. Getting some of the biggest cryptocurrencies today would be difficult to achieve without mining. This article takes a detailed look at how to mine Helium.

Also Read:
• Helium Price Prediction

All about the Helium network

The world keeps going digital due to the rise of a vast network of computers and devices known as the internet. Today, almost everyone uses WiFi and cellular Data to stay connected. Nonetheless, the Helium network is very similar to WiFi, but the only difference is that it is more cost-effective and peer-to-peer.

Furthermore, Helium is a new blockchain network aimed at creating decentralized and public wireless networks. Having decentralized wireless networks in our world would change a lot of things.

One of the latest technologies that reduce friction is the Internet of Things (IoT). IoT devices rely on their sensors and antennas to connect and exchange information between themselves. Today, we have many smart IoT devices, and these smart devices help save time and electricity.

All these smart devices help us daily, but their biggest challenge is reliably connecting them easily. Bluetooth and WiFi don’t have a broader range, and they are saturated with the demands of our PCs and smartphones.

Hence, this is what Helium intends to change. Helium has a unique Radio Frequency (RF) technology created to offer broad coverage to IoT devices. Helium network has a few features that make it distinct from regular WiFi networks that we all have today: privacy and security, reliability and scalability, and there are open to more collaborations.

The network is based on a new algorithm known as Proof-of-Coverage (PoC). Also, the Helium team wants to design broad wireless coverage for IoT devices by ensuring its users install hotspots in their houses. With more hotspots installed, the network will continue to become more dependable. In exchange for providing broad wireless coverages, hotspot owners are incentivized with its native token, HNT.

Who are the founders of Helium?

Source: Internet of Business

Helium started in 2013, and it was created by three co-founders Amir Haleem, Shawn Fanning, and Sean Carey.

Haleem has a background in eSports and game development. Fanning is famous for developing Napster, a music-sharing platform that was one of the first mainstream peer-to-peer (P2P) internet services in the late 1990s.

On the other hand, Carey held many development roles before Helium, including advertising optimization firm “Where,” acquired by PayPal.

Helium’s team comprises experts skilled in radio and hardware, manufacturing, distributed systems, peer-to-peer, and blockchain technologies.

All about Helium (HNT) coin

Helium (HNT) is a decentralized blockchain network designed for IoT devices. It offers real-life use cases, unlike some cryptocurrencies out there.

HNT, Helium’s native token, is a new digital asset that hotspots earn for offering and validating wireless coverage.

HNT coin was launched in July 2019. And users who operate nodes mine and earn rewards in HNT tokens. The nodes are in the form of hotspots (a combination of a wireless gateway known as LoRaWAN wireless protocol) and a Blockchain mining device. Hotspots can also act as miners on the Helium blockchain, so owners can earn HNT coins for building the network and transferring IoT device data.

How Helium works

As stated earlier, Helium uses a new type of algorithm known as Proof of Coverage (POC). The network rewards miners in HNT just for validating wireless coverage through radio waves.

Smart devices or any compatible IoT device can connect to Helium hotspots without WiFi or cellular networks, thus inspiring innovation and enabling new use cases.

What makes Helium unique?

Helium aims to bolster the communication capabilities of wireless IoT devices. In 2013, however, the infrastructure around IoT was still in its infancy, but developers wanted to ensure IoT devices were decentralized.

Helium’s new consensus algorithm proof-of-coverage (POC) makes the Helium network distinct due to the HoneyBadger BFT protocol.

Helium users also pay transaction fees in a separate token called Data Credits, which are not exchangeable and tied to individual users.

How to buy Helium coin?

Unluckily, most crypto trading platforms or exchanges do not yet have Helium coin added to their trading pairs. But more exchanges will certainly add HNT soon as more people continue to know the Helium platform and its use cases.

Some exchanges have Helium coins added to their trading pairs, such as Binance, Binance US, or Crypto.com.

How to mine Helium coin

This section gives a detailed look at how to mine Helium. We expect that Helium mining or hotspot mining will compete with GPUs. To mine Helium coins with hotspots, you will have to use radio technology and not with GPUs, which are often wasteful at times and costly. With an HNT miner, you can forget high electricity bills and complicated set-up procedures.

What do you need to mine Helium coin?

It would help if you had a hotspot device and an internet connection to start mining HNT. Once you have those in place, download the Helium mobile app on your phone and activate the hotspot. The hotspot will transfer data and allow you to earn HNT.

What are hotspots?

Hotspots are peer-to-peer wireless networks that allow IoT devices to be efficient in offering low-power data delivery to and from the internet. As stated earlier, Helium hotspots serve as nodes on the Helium network. By using Helium hotspots, you get rewarded with HNT for offering broader network coverage. Because of Helium’s POC algorithm, your hotspot would only use 5 watts of energy.

Helium miners’ pricing

If you want to mine HNT, you need to know about the costs involved. However, the price for miners is from $300 to $600, depending on the hotspot model that you use.

How to choose the right frequency

Before you buy a hotspot miner, you need to know that every continent has its frequency. Here are the hotspot frequencies of some countries: 

  • EU – 868
  • AU – 915
  • AS – 923
  • CN – 470
  • RU – 864
  • IN – 865
  • KR – 920
  • US – 915

Check LoRaWAN Frequency Plans and Regulations by Country to know more about your country’s frequency.

How to earn with Helium mining

The amount of HNT tokens you earn depends on the number of miners in your location, the device data your hotspot transfers, the hotspot location, and the number of witnesses. Nonetheless, the more data a hotspot transfers, the more HNT tokens it earns. In addition to that, the number of Challenges your miner participates in, the more the earnings.

Here is a statistic for better understanding:

  • 3-5 Witnesses > 150 HNT per month
  • 5-15 Witnesses > 500 HNT per month 
  • 15< Witnesses > 800 HNT per month

Hotspot Miners earn more HNT when they’re in range with other miners, but they need to be at least 300-350 meters apart. This means that single HNT hotspot miners can earn less because they can only issue Challenges over the internet and participate in Proof-of-Coverage.

Types of Helium miners  

There are different Helium miners nowadays, and we will take a detailed look at them. Having a good Helium miner will ensure the best mining experience for you. Without much ado, let’s take a detailed look at each of them.

Bobcat Hotspot miner

Source: Bitcoin miner store

Bobcat hotspot miner has the best PoC and the most potent 4dBi antenna compared to the rest. Also, this miner earns higher HNT than others. Its powerful signal allows you to connect with other witnesses or nearby hotspots situated more than 10 miles range. Furthermore, the Bobcat hotspot miner has a storage capacity of 64GB.

Nebra hotspot miner

Nebra Helium Indoor Hotspot || Source: Helium.Nebra

Nebra Helium outdoor Hotspot || Source: Helium.Nebra

Nebra hotspot miner is another exceptional miner to mine HNT. Also, Nebra hotspot miners come in two forms: indoor and outdoor.

Difference between the indoor and outdoor Nebra hotspot miners

Nebra outdoor hotspot miner has more features than the indoor miner. You can place the outdoor miner anywhere in your environment without worrying about whether it will function properly. The outdoor miner comes with a 3dBi antenna from fiber-glass. At the same time, the indoor miner comes with a 3dBi antenna built from plastic.

Also, there is a price difference between both miners. If you want an outdoor miner, but there is no Ethernet connection, consider using a mini-card with 4G coverage, as it will offer your outdoor Nebra hotspot miner 4G internet access, with no need for an Ethernet wire.

Rakewireless hotspot miner

Source: Rakewireless.com

Out of all Helium hotspot miners, Rakewireless has the lowest 2.8 dBi antenna and storage space (32GB). This miner is less expensive, but it also makes you enough profits when you mine with it due to its low dBi antenna. Note that higher dBi antennas aren’t always a good choice. Hence, it would help if you considered getting an antenna based on your terrain and the range between you and other local hotspots.

Where can you put your miner?

If you have an indoor miner, you should put it at the highest window available in your home. It is necessary to remove any metal mesh on the window so as not to affect the signal.

Overall, height is essential in where you want to place your miner. The higher the miner, the better the signal it receives. Ensure you don’t put your miner near metal, electronics, or concrete. Nonetheless, if you only have one suitable high window in your home, then it will be ideal for your miner.

Helium hotspot earnings calculator

Helium mining earning calculator gives you a reasonable estimate of how much HNT your hotspot can make. Moreover, it is based on how many nearby hotspots are currently active in the location you are planning to put the hotspot. It also depends on the Helium network’s current state and the HNT reward distribution.

Storing your HNT token

Source:O3Schools.com

There are many crypto exchanges out there, and even though they have high levels of security and protection, there have been cases of hack and theft. When you store your cryptocurrencies in exchanges, it means that your digital assets are in their wallet. If anything happens to your digital wallet, you won’t be in control of your funds.

Therefore, the best way to store your HNT coins is in a hardware wallet. A hardware wallet offers you a 12-24-word security phrase. Only the person who owns this phrase can access this wallet.

One hard wallet you can use to store your HNT coins is Ledger Nano S. This hardware wallet is highly secure and allows you to store HNT coins and other cryptocurrencies.

So if you plan to hold HNT coin in the long term, you should purchase Ledger Nano S. Never take screenshots of your security phase or put them online. Instead, write your security phase on a piece of paper and store it in a safe place.

Selling HNT for dollars

In some exchanges, HNT is not supported. An exchange that doesn’t help HNT is Coinbase.  As stated earlier, you can sell or buy HNT in reputable exchanges such as Binance, Binance US, and Crypto.com.

So to sell your HNT tokens, move them from your Helium wallet to your Binance or crypto.com wallet and then sell it for dollars. You will likely pay some fees during this transfer.

Conclusion

Helium is one of those technologies with powerful use cases. It is exciting that we have a blockchain platform for applications. By using Helium hotspots, we all get to develop a distinct network while making a passive income. We hope this post has helped you learn more about Helium mining and its workings. And if you are interested in trying it, why not start now while you earn a passive income?

FAQs

Can someone use my hotspot miner?

Every Helium miner is encrypted strongly. Nobody can use it except you once you have set up your miner and registered the device. If your miner gets stolen, you cannot reset it. Also, your hotspot miner offers a 12-word security phrase to access your HNT wallet.

How do I maximize my mining profits?

There are many ways that you can maximize your profit. To do this, ensure our hotspot is always online and has a good internet connection, choose the antenna based on your environment and nearby hotspots, and do not overcrowd it.

How do I install an outdoor Helium miner?

Source: Tourmaline wireless

Installing outdoor miners is very easy to achieve. Nebra Outdoor miner supports PoE (Power Over Ethernet). Hence, the best way to install it is to use an Ethernet cable. Just put your hotspot in a desirable place and connect the Ethernet cable.

Is mining HNT a risk-free investment?

No, not. Helium is a new company, and it can either be the next thing or not. At the moment, it competes with other well-established telecommunication companies.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Share link:

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

celsius
Cryptopolitan
Subscribe to CryptoPolitan