Recently, a friend of mine brought it to my attention that mining a token called Helium (HNT) is actually profitable right now if you live in areas with other Helium miners. Upon checking the network map, it appears that my area is perfect for mining.
There are people in my area making $1,500 a month on each miner they put up, with an initial investment of about $500, this makes a lot of sense.
Helium mining revolves around building a wireless network for IoT devices by crowdsourcing the hotspots. As people install hotspots, they are providing a gateway for this wireless network to be connected to the internet, much like having a miniature cell tower. In return, Helium rewards hotspot owners for their participation by paying them in Helium tokens. Currently, the Helium token is around $10. These tokens can be held for later or sold into Bitcoin (BTC) in several exchanges.
Something that sets Helium Mining apart from many other cryptocurrencies is the miners themselves draw very little electricity, about the same amount as an LED light bulb. These low power radios provide coverage over an area and interact with each other. The more you have spread in an area around you, the greater your earnings potential will be.
I will be adding to this page once I receive my miners. In the meantime, check out the rewards that miners are earning in your area.
Where to get a Helium Hotspot
The Helium site has a list of approved manufacturers. Keep in mind that these hotspots are backordered and it will likely take several months to receive your order. Check with each manufacturer for more details.
In addition to the miners themselves, external antennas can provide extended range and enhance your ability to earn rewards. If you are planning to set up an antenna in your window, I believe this bundle deal from Rak Wireless is the best value. For those looking at installing an outdoor antenna, I chose the Proxicast 10dbi antenna and I will be posting results here once I have some data.
I should be receiving my first Helium Mining hotspot in May 2021.
Selling Helium(HNT) into Bitcoin (BTC)
SimpleSwap provides a quick and easy way to sell Helium token into Bitcoin. Simply click on the image below to be taken to SImpleSwap where you can easily convert coins.