There is a friend who offered a link for mining Helium crypto using a hotspot network that would earn HNT cryptocurrency tokens.
The first time I studied HNT mining at a glance, there was a unique impression because it was very different from cryptocurrency mining in general, which uses expensive devices.
Next, this will be an interesting question about Helium crypto. Is this a good investment for the future? How does it work? And so on.
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- 1 What is Helium Crypto?
- 2 Helium crypto founder
- 3 How does Helium crypto work?
- 4 Helium crypto mining device
- 5 Helium crypto coverage map
- 6 Where to buy helium crypto?
- 7 Helium wallet
- 8 Does Helium crypto have a future?
- 9 Helium crypto price forecast
- 10 Should I invest in Helium crypto?
- 11 Final thought
What is Helium Crypto?
Helium aims to prepare IoT communications for the future, identifying flaws in the current infrastructure. Helium crypto is a unique blockchain network that uses a distributed global hotspot. This network seeks to reach and create long-range public wireless for IoT devices that support LoRaWAN.
What is LoRaWAN? LoRaWAN itself is a point-to-multipoint network protocol with Semtech’s LoRa modulation scheme. This is how radio waves communicate with the LoRaWAN gateway for encryption and identification.
Also includes the cloud, which connects to multiple gateways.
Helium blockchain itself is a public blockchain which is an open-source project built to encourage the creation of a decentralized physical wireless network.
The Helium blockchain has now reached the global LoRaWAN network with thousands of hotspots complementing this unique blockchain.
Nodes come in a form called Hotspot. It is a combination of a wireless gateway and a blockchain mining device. Users operating nodes mine and earn rewards.
When did Helium crypto start?
The Helium project started in 2013. It turns out that this is a project that started long after the advent of Blockchain.
In 2019 Helium started live in Austin, and grew to 1250 Hotspots spread across one hundred cities across the United States. The company Helium inc. is San Francisco-based company that was started and announced in 2013.
Helium crypto founder
Helium was discovered by three experts and experienced Shawn Fanning, Amir Haleem, and Sean Carey. In 2013 they started to announce Helium which is a public network.
The current development team is not only the founders but there are 16 team members posted on the official Helium website. Visit the team.
The company received funding from major investors such as Khosla Ventures, FirstMark Capital, GV, HSB/MunichRe Ventures, and others.
How does Helium crypto work?
Simply put, Helium will give HNT cryptocurrency incentives by installing Hotspot wherever you are, at work, home, and so on.
If on the Bitcoin blockchain it uses Proof of Work to issue a new block, or on Ethereum it uses Proof of Stake in its network. Helium uses Proof of Coverage.
This is a breakthrough in combining blockchain technology with the Internet of Things (IoT). How to get the HNT cryptocurrency incentive, individuals only need to activate a hotspot that supports LoRaWAN wherever they are.
By using the Proof of Coverage consensus, the amount of the incentive will depend on the coverage of the hotspot network.
Helium crypto mining device
Helium’s rapid growth motivates third-party vendors to develop Hotspot products to mine Helium because Helium indicates no longer Hotspot production.
However, to become a Helium vendor, it is must get approval from the community. The following is a list of Hotspots that have received approval from the community.
- Bobcat miner 300, LoRaWAN hotspot, 4dbi antenna, quadcore processor Rockchip PX30, price $429. Purchase.
- Calchip, LoRaWAN, various products AWS different price, starter kit from $349. Purchase.
- ClodPI, LoRaWAN, Processor ARM 64 Bit Hexa-core (Quad-core ARM Cortex-A53 up to 1.4G Dual-core ARM Cortex-A72 up to 1.8G). Purchase.
- FXTec Linxdot, LoRaWAN, 3dBi LoRa antenna, price £399.00. Purchase.
- Kerlink, LoRaWAN, three variant products different prices. Visit products.
- LongAP, LoRaWAN, preorder, products, LongAP pro, LongAP light. Visit products.
- Nebra, LoRaWAN.Nebra HNT indoor miner price £420. Nebra HNT outdoor miner price £540. Visit products.
- RAK Wireless, LoRaWAN. Various products at different prices. Visit products.
- Sensecap, LoRaWAN. enseCAP M1 LoRaWAN Indoor Gateway. Visit products.
- Syncrobit, LoRaWAN. Price $650. Visit products.
Helium crypto mining equipment
Mining HNT equipment only by installing a Hotspot device that supports LoRaWan using Helium Longfi.
Hotspot installation should be in a safe area in the sense that it is not covered by walls and metal. To maximize Hotspot coverage using an antenna is much better.
The amount of income from mining Helium depends on the number of hotspots in your device coverage. You can monitor how your performance and earnings are after setting up your Hotspot device.
The electrical power required is also very low, only about 5 Watts. Very different from Bitcoin mining which requires greater electrical energy.
Where to buy Helium crypto miner?
As explained above, you can buy several Helium mining devices that support LoRaWan at several stores such as CalChip, Bobcat, and so on.
Some products may have been sold out, and to get a mining device in Europe, you have to preorder first. Even this may take more than a month shipping time.
Is Helium crypto mining safe?
According to Helium documents, the Helium network is not free, every transaction requires credit data to prevent potential scammers. The network is encrypted, so security is guaranteed.
But we found an article that discusses the Proof of Coverage Hacking Ring. According to the article that hackers have stolen HNT from legitimate miners and users. How the hacker stole the HNT token you can read in the HNT news blog.
Helium crypto coverage map
Referring to Helium explorer, currently, there are 167,216 Hotspots spread across 122 countries in the world with a total of 15,555 cities. With an average uptrend in 30 days. There was an addition of +46,789 hotspots in just a month.
Further, you will find information on beacons, blocks, validators, markets, and tools. Most of the beacons come from the United States and are also scattered in other countries such as China, Canada, the Netherlands, and many more.
Block transaction rate statistics 535.54, there is an additional +100.47. The Block high 1,005,156 added +43,826. Block time 24 hours 60.83 sec, -0.88 sec. Election time 24 hours 33.8 min, -0.7 min.
Statistical validator 2,631 staked validator. Consensus size 43. Total stake (HNT) 26.31M, $519,622,500.00. Annual Percent Return estimated at 7.09%.
Market statistics Oracle price $20.12, up +18.808% on 30-day average. Market price $19.10, drops -13.21%. Circulating supply 100.511M (HNT). Max Supply
223M. Data Credit Price fixed $0.00001. DC per HNT 2,011,710.
Where to buy helium crypto?
Helium is ranked #66 on Coinmarketcap at press time. Some of the leading exchanges like Binance, FTX, Gate.io, Hotbit, BKEX, and Binance US.
Helium crypto exchange
Binance global, started listing Helium on 24 September 2020. Users can trade HNT/BTC and HNT/USDT pairs.
Gate.io started listing HNT crypto on May.14, 2021. Traders can trade Helium in Helium(HNT) pairs trading on May.14, 2021. There are pairs HNT/USDT, dan HNT/ETH.
The FTX exchange also allows traders to trade Helium in the spot market on the HNT/USDT and HNT/USD pairs. In the futures market on the HNT-PERP pair.
Hotbit started listing Helium on July 9, 2020, traders can trade the HNT/USDT and HNT/BTC pairs on the Hotbit exchange.
The exchange started announcing trading of Helium from 02 February /2021, in the HNT/USDT pair in the aggregate trading pair. This means that traders can buy and sell assets at the same price as other exchanges but in reserve.
How to trade Helium crypto?
How to trade Helium crypto all steps refer to the rules by which you will trade.
For example, you will trade on Gate.io for the reason that the spread fees are the lowest compared to other exchanges.
- The first step of course you have to register an account at Gate.io.
- Then you need to complete the KYC by procuring the necessary documents for the verification process.
- You fund your account to start trading using the Gate.io trading platform with the login details as you registered.
- Then you enter the spot trading, there are standard and professional options. Select standard then use the search box by typing HNT. Automatic search results will appear for HNT_USDT and HNT_ETH. Choose the one you like and start trading.
In the blockchain, each token needs a wallet to manage cryptocurrency. Helium wallet serves to maintain their own hotspots, storing HNT or Data Credit. (DC).
There are three types of Helium wallets available, you can choose which one suits you best:
This is a Helium wallet with an easy pairing setup with hotspot devices, available for iOS and Android. Some of the functions of Helium apps are included.
- Send and receive HNT and create Data Credit.
- Add hotspot and set location.
- Configure Wifi.
- Monitoring Wifi activity.
- See other hotspots located.
- Run discovery mode.
CLI stands for Command Line Interface Wallet. This Helium wallet is more flexible and suitable for all transactions. However, this requires technical knowledge which is not simple. Maybe not suitable for beginners who like a simple wallet. Here source code in Github.
This is a Helium wallet from Ledger which is a hardware wallet. In theory, it is more secure than hot wallets but has limited use only for sending and receiving HNT, submit validators, stakes, and unstakes.
Does Helium crypto have a future?
To answer this question, one issue that becomes the main concern is looking at the development of Helium news. If you look at the Helium hotspots map statistics, in the last 30 days the graph has increased significantly.
However, one opinion states that the addition of a new Hotspot device will decrease the number of incentives that will be received.
However, this condition is balanced, because HNT that is burned will cause a shortage which can push prices higher.
If we analyze the price history of Helium 2021, it is clear that there is an increase in transaction volume so that price fluctuations become higher.
The graph above is taken from Coinmarketcap, since February 2021 the price of HNT starting to rise. In March and May, the price has formed a new peak of almost $20. And since August the price of HNT has been getting higher and forming a new high of $26.
At this time many crypto enthusiasts believe Helium has a great future. Plus it is a unique Blockchain that combines blockchain with the Internet of Things.
Helium crypto price forecast
Comparing the predictions of forecasting sites with one another might give an idea of the future analysis of Helium crypto. The following is a summary of the Helium price forecasting from several sites.
Wallet Investor predicts the price of HNT will reach 46,771 USD in 2022. And by 2026 the price of HNT will be 136,793 USD.
Crypto News estimates the price of Helium could reach $25 by the end of 2021. Further predictions of 2022 will reach $30 as a continuation of the bulls. 2023 Cryptonewsz expects the price to drop again to $25. 2024 predicts another rise to $35. 2025 predicts up to $42, and predictions beyond 2025 the price of Helium reaches $50.
Gov Capital predicts Helium price will reach $71.70 in 2022. Forecast 2026 Helium price will reach $613.51.
Price Prediction site Helium price in 2021 reached a maximum price of $24.03. 2022 maximum price $38.40. 2023 the maximum price is $55.80. 2024 the maximum price is $79.73. 2025 the maximum price is $117.76.2026 the maximum price is $171.29. 2027 the maximum price is $239.16. 2028 the maximum price is $355.58. 2029 the maximum price is $505.39. 2030 maximum price $763.44.
Digitalcoinprice predict HNT 2021 December $34.07 USD. 2022 December $40.37 USD. 2023 December $46.45 USD. 2024 December $59.54 USD. 2025 December $61.39 USD. 2026 December $82.01 USD. 2027 December $87.05 USD. 2028 December $88.61 USD.
Should I invest in Helium crypto?
No investment advice in this regard. You are the ultimate authority over your money. But as an investor, you will see the future potential of Helium crypto.
However, you may buy HNT because you want to take short-term profits through trading. HNT price fluctuations in 2021 are quite interesting where traders buy low and sell high.
With a current price of $20.49 and a market capitalization of over 2 billion dollars and a daily volume of over 2 million dollars, this is a high number of transactions.
But maybe you are more interested in mining or stakes HNT. That is a practical way because you only need to set it once and wait for the results.
Is Helium crypto a good investment in the future? The adoption of the Internet of Things, in the future, of course, will continue to face development and there are also challenges.
The new innovation of Helium blockchain is attracting a lot of HNT miners. Even some device providers, all products have been sold out. And of course, the future of Helium will also depend on the community and also the team that manages it.
This article is just a personal opinion and does not constitute investment advice. Cryptocurrencies are risky assets, each investor is responsible for their investment.
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