What is HNT Helium Coin and How is it Mined 2023
What is HNT helium coin and how is it mined 2023 Blockchain technology has allowed decentralization in a number of things, interestingly the decentralization of wireless networks.
It’s called the Helium Network, it’s growing fast, and it can be a way for you to mine cryptocurrency without running an expensive, power-hungry server.
It also promises to be scalable and affordable, providing wireless connectivity to millions of devices, sensors, MCUs and chips for just a penny a year.
Contents
1 What is HNT helium coin
2 HNT helium mining
3 HNT Market
4 How to buy helium coin
5 best mining methods
6 HNT helium coin mining requirements
7 HNT helium coin mining machines prices:
8 Profit from HNT helium coin
What is HNT helium coin?
We all know what is the right WIFI? It helps people to transmit and receive data wirelessly.
Helium is very similar to WIFI except that it is more cost effective and peer to peer.
There are a few features that make Helium Network stand out from regular WIFI:
*. Privacy and Security – Provides end-to-end encryption from one device to another.
*. Reliability and Expandability – HNT’s helium coin makes expansion chain safe and easy.
*. Open Source – Helium is committed to open collaboration.
*. Helium Blockchain is a new blockchain built from scratch to encourage the creation of decentralized public wireless networks.
*. It is also based on a new working algorithm called Proof of Cover (PoC).
Helium Blockchain uses a brand new algorithm called Proof of Coverage (PoC).
The mainnet was launched on July 29, 2019 and has since grown exponentially, particularly in North America and Western Europe.
The helium blockchain behind the world’s largest LoRaWAN.
HNT helium mining
Helium (HNT) is a decentralized, blockchain-powered network of Internet of Things (IoT) devices.
It also offers real usability unlike most duplicate coins on the market.
HNT is a new cryptocurrency that earns hotspots to provide and validate wireless coverage when devices on your network connect to the Internet through Hotspots.
The HNT helium coin was launched in July 2019. It also allows low-power wireless devices to communicate with each other and send data through its network of nodes which come in the form of so-called hotspots.
It is a combination of a wireless gateway and a Blockchain miner.
To be clear, the users who manage the nodes are mining and earning rewards in the helium-native cryptocurrency HNT.
Helium’s mission is to make IoT communications more accurate and future-ready.
HNT market
One HNT coin is worth $11.45 with a market cap of $2,737,015,277.
Currently, Helium is the 77th largest cryptocurrency in the market.
Also, in just one month, the price increased from $4.18 to $7.45.
This is a 78% increase in just seven days and in another month it has risen to around $14 and the coin is still showing bullish signs of future growth.
There is a total supply of 223,000,000 HNT. Currently, only 83,602,046 (37%) of HNT are in circulation.
HNT helium coin distribution is divided into three different segments:
*. Network Data Transfer (30%) – bonus for hearing aids and transmission of their packets to the Internet.
*. Hotspot Infrastructure (35%) – Reward for participating, viewing and creating PoC challenges.
*. Helium, Inc. and Investors (35%) – intended for founders, investors, and organizations who will manage blockchain governance.
How to buy helium coin
You can buy helium coin on Binance which is one of the largest and most reliable exchanges.
Additionally, the coin is available on FTX, Hoo, and Bilaxy. However, I don’t have any experience with the mentioned platforms.
So I can’t really recommend you to use any of them. It is up to you which platforms you will use to buy HNT .Binance is one of the largest and most reliable exchanges.
Also, the user-friendly interface makes the platform easy to use.
Binance also allows currency trading in the HNT/USDT and HNT/BTC pairs.
The best mining methods
HNT is considered as one of the sleeping giants whose potential is yet to be discovered. Helium Coin is not your average cryptocurrency, and it is similar to hundreds of other coins on the market.
Also, the current market value ($2749,129,911) is relatively small compared to the important role that HNT can play in the development of modern technology.
With more and more money pouring into the Cryptocurrency market day by day, reaching a market cap of at least $10,000,000,000 is very achievable.
This means that with the supposed integration of the HNT helium coin into the modern world, I would expect it to reach more than $25 a coin in the near future.
Hotspot mining will be a great competition for GPUs. For HNT mining with hotspots, radio technology is used, which are inexpensive GPUs.
HNT helium coin mining requirements
A hotspot and an internet connection is enough to start helium mining. Simply download the mobile app to your phone and activate the hotspot. The hotspot will start transmitting device data and earning HNT.
Hotspots also provide miles of wireless network coverage to millions of devices around you with Helium LongFi.
You also get HNT as a bonus and because of our innovative Proof-of-Work model (we call it “Proof of Cover”), your hotspot only uses 5 watts of electricity. That’s about $10 a year.
HNT helium coin mining machines prices:
The price varies from $300 to $600. Depending on the model of hotspot you want, due to high demand, not all hotspot devices are currently available.
People on eBay are also selling each for 2 to 3 times the original price. The buyers side is willing to overpay for the product just so that they can get the miners as soon as possible.
This is how you can tell this thing is really hot at the moment.
Earn from HNT helium coin
Profitability depends on the total number of miners in your area and the device data transmitted by your hotspots.
HNT hotspots also earn from transmitting device data over the network, and the more device data the hotspot transmits, the more it earns.
The location and number of the touch point greatly affects your earnings. What brings your mining business the most profit is the number of challenges you participate in.
For a better understanding, here are the current stats:
*. 3-5 mining machines >150 HNT per month
*. 5-15 mining machines > 500 HNT per month
*. 15 < 800 HNT per month
Hotspot miners earn more HNT when they are within range of two other miners. But the distance between them should be at least 300-350 meters.
Individual HNT Hotspot miners earn less as they can only issue challenges online, and cannot participate in Proof of Cover.
Keep in mind that the first half date for HNT is August 1st. The halving would reduce mining profitability by 50%, but this would likely increase the value of HNT.