Easy HNT Coin Guide | How to Mine Helium Coin?

Mining always has been an essential part of the Cryptocurrency industry. Without mining, acquiring some of the largest Cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH) would be physically impossible. Not long ago, a new player has entered the market. In this article, we will discuss every important aspect of HNT Coin and Helium Mining. So let’s dive into it:

What is Helium (HNT) Coin?

Helium (HNT) is a decentralized blockchain-powered network for the Internet of Things (IoT) devices.

It provides real-life usage unlike most of the duplicate coins on the market. HNT is a new cryptocurrency Hotspots earn for providing and validating wireless coverage and when devices on the network connect to the Internet through Hotspots.

Launched in July 2019, the Helium network allows low-powered wireless devices to communicate with each other and send data across its network of nodes.

Nodes come in the form of so-called Hotspots, which are a combination of a wireless gateway and a Blockchain mining device. To clarify, users who operate nodes thus mine and earn rewards in Helium’s native Cryptocurrency token, HNT.

Helium’s mission is to make IoT communication much more refined and prepared for the future.

HNT Market Overview

At the time of writing, a single HNT coin is worth $ 7.45 with a market cap of $ 549,129,911.

Currently, Helium ranks as the 97th largest Cryptocurrency on the market.

Just in a single week price has surged from $ 4.18 to $ 7.45. That is a 78% increase in just seven days and the coin is still showing bullish signs for future growth.

There is a total supply of 223,000,000 HNT. Currently only 73,602,046 (33%) HNT is in circulation.

HNT distribution is divided into three different sectors:

• Network Data Transfer (30%) — Rewarded for hearing devices and relaying their packets to the internet.
• Hotspot Infrastructure (35%) — Rewarded for participating in, witnessing, and creating Proof-of-Coverage (PoC) challenges.
• Helium, Inc., and Investors (35%) — Assigned to founders, investors, and organizations who will manage blockchain governance.

Where To Buy Helium Coin

Unfortunately, most of the platforms don’t have Helium coin added to their trading pairs yet.

It’s highly likely that more and more exchanges will add HNT as coin’s popularity grows.

You can buy Helium coin on Binance, one of the largest and the most reliable exchanges in the industry. In addition, the coin is available on FTX, Hoo, and Bilaxy. However, we don’t have any experience with mentioned exchanges so we can’t really recommend you using any of those.

It’s up to you which exchange you will use to buy HNT. However, our personal suggestion would be to go with Binance because of its credibility and friendly UI (User Interface) making the platform easy to use.

Binance also allows trading the coin in HNT/USDT and HNT/BTC pairs.

Our HNT Coin Price Prediction

We look at HNT as one of the sleeping giants which’s potential has not been discovered yet.

Helium coin is not your average Cryptocurrency, which is similar to hundreds of others on the market.

We believe that its current market cap ($ 549,129,911) is relatively small compared to the important role HNT can play in modern technology’s development. Also, imagine the number of funds that will flow in Helium after other major exchanges besides Binance add it to coin selection.

As more and more money flows into the Cryptocurrency market day by day, reaching a market cap of at least $ 1,000,000,000 is very achievable.

That is to say, with Helium’s presumable integration in the modern world, we expect it to reach more than $15/coin in the nearest future.

How To Mine Helium Coin?

This is where things get even more interesting. We think that hotspot mining will be a great competition for GPUs. To mine HNT with hotspots you use radio technology, not expensive or wasteful GPUs.

Forget high electricity bills and complicated set-up procedures. HNT miner is the thing you were looking for without even realizing it.

What do I need to start mining Helium?

A Simple Hotspot device and internet connection are enough for you to start Helium mining.

Just download the mobile application on your phone and register the hotspot. The hotspot will start transferring device data and earning HNT.

Energy consumption and work model

Hotspots provide miles of wireless network coverage for millions of devices around you using Helium LongFi. You receive HNT as a reward. And because of an innovative proof-of-work model (we call it “Proof-of-Coverage”), your Hotspot only uses 5W of energy.

Helium miners’ pricing

The price varies from $300 to $600. Depending on the hotspot model you want to get.

Because of the high demand, all hotspot devices are currently out of stock.

On eBay people are selling each for 2–3X of the original price. The buyers’ side is willing to overpay for the product just so they can get the miners as soon as possible. That’s how you can tell that thing is really hot at the moment.

Country Frequency

Before you purchase your Hotspot miner it will ask for the frequency of your country. Every continent has its own frequency:

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

If you are not sure about your country’s frequency check LoRaWAN Frequency Plans and Regulations by Country.

How much can I generate with Helium mining?

Profitability depends on the total amount of miners that are in your area and the device data your hotspots transfer.

Hotspots earn HNT for transferring device data over the network. The more device data a Hotspot transfers, the more it earns. For example, in a day some hotspots earn 0.2 HNT while some earn 15 HNT or even more. There is no exact number to give.

Hotspot Miners earn more HNT when they’re in range of other miners, but need to be at least 300 meters apart. Single HNT Hotspot Miners earn less as they can only issue Challenges over the internet, and can’t participate in Proof-of-Coverage.

Take a look at the coverage map to see the number of hotspots in your local area.

Also consider that as the total number of hotspots increases, the reward each hotspot receives decreases. Because there is only the set amount of HNT that should be paid to Miners.

How to buy Helium miner?

There is two types of HNT Hotspot Miners. Indoor and Outdoor.

You can buy HNT Hotspot Miners from Nebra. So far Nebra miners have been approved by the community and tested by Helium itself. Most importantly, they offer to ship to every region.

The Nebra hotspot miners come with two options for managing your hotspot remotely:

• Basic (Free) — This includes built-in auto-update functionality (via an auto updater-script) for the life of the device at no extra charge.
• Advanced (Paid) — The advanced plan includes a management dashboard allowing you to remotely manage your fleet of miners, check device stats, hotspot performance, and more. This is a paid service but you get 6 months free with the device purchase. This may not be available from when they first ship but everyone who purchases before the launch of the management platform will get at least 6 months free once it becomes available.

Indoor vs Outdoor Miner

The biggest difference is the outdoor unit comes in a case that is suitable for outside usage in mixed environments and has a few extra features. The image below will help you to decide better.

Both models are convenient and high-grade. It’s a matter of personal preference and the environment where you want to place your Hotspots.

Shipping Time

Because of high demand, if you order Indoor Miner now, it will be shipped in May. And if you order Outdoor Miner now, it will be shipped in June.

Therefore, if you are considering getting one of these, our recommendation would be to pre-order as soon as possible to avoid any further inconveniences and delayed shipping times.

You can get your Nebra HNT Indoor Hotspot Miner here.

You can get your Nebra HNT Outdoor Hotspot Miner here.

Conclusion

To sum up, what worked really well a couple of years ago might not work with the same efficiency now. Technology consistently evolves and to stay at the top of your game you need to see through the changes.

GPUs had their time when they were literally booming. Don’t get us wrong, you can still make a good profit with GPU mining today. But, it’s more of a hassle than it was back in the days.

We believe that Helium Network and Hotspot Mining is going to be one of the biggest projects in the nearest future. Whether you do it for technology or just for a pure profit, get involved in Hotspot Mining as soon as you can so you don’t regret it in the future.

If you want to become a part of the Helium mining community feel free to join our Facebook group: HNT Mining Worldwide.