Helium Token is a decentralized network that is powered by Blockchains to run for Internet of Things (IoT) devices. HNT is the new kind of cryptocurrency that is designed as hotspot rewards for providing wireless coverage for connecting devices for a new class of Internet of Things (IoT) devices.
This article is dedicated to the HNT; here we will discuss all the major aspects of HNT.
What is Helium Network?
Helium Network is just like WIFI. We all are ware with WIFI and how it works. WIFI helps people to transfer and receive data wirelessly on a connected network. The Helium Network is more or less similar to WIFI, there is the only difference that it is very cost-effective and it runs on the peer-to-peer network. Helium Network is designed on a very smart network. Few features of this network such as privacy and scalability make it more efficient than a regular WIFI network.
Few features of Helium Network-
- Privacy & Security- The privacy and security features of this network are more advanced. It encrypts all the devices on the network and it provides full encryption from device to cloud.
- Reliability & Scalability- The blockchain on which it runs ensures the scalability of the network and it is done very easily. Secured Scaling is possible on this network.
- Open-sourcing- Helium network is an open-source network and it offers open collaboration.
The Helium Blockchain is the new advanced blockchain that is created in a new framework that encourages the new decentralized network that is available as an open-source network. Helium Network is based on a new work algorithm that is known as Proof-of-Coverage (PoC). PoC rewards the miners with its native named HNT on the Blockchain for creating and developing the network.
What is Helium (HNT) Coin?
Helium Token is a decentralized network that is powered by Blockchains to run for Internet of Things (IoT) devices. HNT is the new kind of cryptocurrency that is designed as hotspots rewards for providing wireless coverage for connecting devices for a new class of Internet of Things (IoT) devices. This currency offers real-life usage; it is not like other currencies.
HNT is the native currency of Helium Network; it was launched in July 2019 in the market. The Helium network allows the low-powered wireless devices to connect and communicate with each other and it sends the data across its network of nodes.
Hotspots are referred to as nodes; these nodes are the combined structure of a wireless gateway and a Blockchain mining device. Users who operate and transacted on nodes, as well as mine on the network, earn rewards in HNT, the native cryptocurrency of the network.
The mission of the Helium network is to boost the Internet of Things (IoT) communication and connection more interactive and matured.
Founders of Helium
Helium network was founded in 2013. Amir Haleem, Sean Carey, and Shawn Fanning created the Helium network to introduce the world’s first peer-to-peer open-source wireless network. The vision behind creating this network is to build the people’s network to make the Internet of Things easy and communicable. The mission of the Helium network is to boost the Internet of Things (IoT) communication and connection more interactive and matured.
HNT is the native currency of Helium Network; it was launched in July 2019 in the market. Users who operate and transacted on nodes, as well as mine on the network, earn rewards in HNT, the native cryptocurrency of the network.
Also Read: What is Polygon?- The Ultimate MATIC guide
HNT Market Overview
The current market price of HNT is $7.45. The market capitalization of HNT is recorded at $549,129,911. Currently, Helium stands at 97th place in the cryptocurrency market. The prices of HNT are fluctuating in the market. In a single week, the prices of HNT spiked to $7.45 from $4.18. The value of HNT has grown up 78% in a week; currently, this coin is showing bullish trends in the market.
How many HNT coins are in circulation?
The total supply of HNT tokens is capped at 223,000,000. Currently, 73,602,046 HNT tokens are in circulation in the market. The market capitalization of HNT is recorded at $549,129,911. Currently, Helium stands at 97th place in the cryptocurrency market.
HNT is distributed in three different sectors-
- Network Data Transfer (30%)- HNT tokens are rewarded for communicating the packets to the internet.
- Hotspot Infrastructure (35%)- 35% HNT tokens are rewarded for participating and developing Proof-of-Coverage (PoC) challenges.
- Helium Inc. and Investors (35%)- 35% of tokens are reserved and transferred to founders, investors, and organizations those will manage blockchain governance.
How to buy Helium Coin (HNT)?
HNT tokens are not listed on all the exchanges, only a few cryptocurrency exchanges have listed HNT and added to the trading pairs.
It is in the growing stage, currently, it is available on few exchanges. In the future, the popularity of this coin will increase and more and more exchanges will add HNT to their trading pairs. Currently, you can buy HNT tokens on crypto exchanges such as Binance, Binance US, or crypto.com. These are the biggest crypto exchanges and these are more reliable and trustable exchanges in the industry. It is also available on FTX, Hoo, and Bilaxy. We are not promoting any exchanges as we have not traded on every exchange. We are writing for your information. It is solely dependent on you which exchange you choose for buying HNT tokens.
You can go with Binance or crypto.com as these are the most trusted exchange in the industry. The user-friendly interface of Binance exchange is very easy to use. You have to simply register on the exchange to buy the tokens. Binance exchange offers trading in pairs such as HNT/USDT and HNT/BTC pairs.
How to buy HNT via Binance exchange?
Follow these easy steps and buy HNT tokens within less time-
- Register the account on the Binance exchange
- Complete the verification process
- Deposit the cryptocurrency
- Check the balances
- Place the order and execute the transaction
- Transfer to the wallet
How to mine an HNT coin?
HNT mining is another way to earn HNT tokens. HNT mining is referred to as hotspot mining. Hotspot mining is giving tough competition to the GPU in the market. It is not that tough to do hotspot mining. To mine HNT with hotspots you can use radio technology. It is not expensive in comparison to GPUs. It doesn’t consume huge electricity. There is no tension between electricity bills. Hotspot mining is very simple as there are no complications.
How to start mining Helium?
To start mining HNT you are needed to have a Hotspot device and a good internet connection. These two are important things to start HNT mining. You have to download a mobile application on your mobile phone and activate the hotspot. The hotspot will enable the data transfer and you will earn HNT coins.
Energy Utilization and Work Model
Hotspot offers the expanded wireless network coverage for millions of devices that are connected to the Helium network by using Helium LongFi. Users who operate and transacted on nodes, as well as mine on the network, earn rewards in HNT, the native cryptocurrency of the network.
Helium Network is based on a new work algorithm that is known as Proof-of-Coverage (PoC). PoC rewards the miners with its native named HNT on the Blockchain for creating and developing the network. Hotspot uses only 5W of electricity per hour. The cost of electricity charges approximately $10 a year. It is not that expensive just like GPU.
Helium Miner’s pricing
The prices of mining are settled somewhere between $300 and $600. It depends on the hotspot model you choose for mining. The demand for hotspots has been increased and because of this, it has gone out of stock these days. On eBay people are selling the hotspot for 3-4X of the original price. The buyers are willingly paying the extra amount for acquiring the device so that they can begin mining.
Select the right radio frequency
Before you proceed for buying the Hotspot miner will ask you to choose the right radio frequency of your country. Ever contingent has its frequency-
- RU-864
- IN-865
- KR-920
- US-915
- EU- 868
- AU-915
- AS-923
- CN-470
How much one can earn with Helium mining?
There are huge profits in hotspot mining, the profits are solely dependent on the total number of miners present in your area to whom you transfer data and make hotspot transfer. Hotspot earns HNT tokens as a reward for transferring the device data over the network. The more the devices will be connected the more data it will earn. The location of the hotspot and the availability of witnesses also affect the earnings. The more the challengers are present the more you earn.
For instances:
- 3-5 witnesses- Rewards 150 HNT per month
- 5-15 witnesses- Rewards 500 HNT per month
- 15 witnesses- Rewards 800 HNT per month
How to exchange HNT coins for fiat currency?
You can easily exchange the HNT coins for fiat currency. To exchange the cryptocurrency to fiat currency you are needed to transfer the HNT tokens from your wallet to the exchange that supports HNT and then sell it concerning fiat currency like USD and EUR. You can sell HNT tokens on crypto exchanges such as Binance, Binance US, or crypto.com. These are the biggest crypto exchanges and these are more reliable and trustable exchanges in the industry.
Is HNT mining risk-free?
No, HNT mining is not risk-free at all. Helium Network in the growing stage and currently it is competing with well-settled telecommunication companies. There are a lot of hurdles present in the way of the success of this network. It is a start-up there is no surety of the future here. It contains a lot of risk and crypto blockchain is so volatile and risky. Invest your funds wisely after analyzing all the aspects of this network.
HNT Coin Price Prediction
The potential of HNT coins has not been perceived yet, it is not that popular yet. Helium currency is not an average cryptocurrency and it is not like other cryptocurrencies. This currency offers real-life usage; it is not like other currencies. It has the potential to grow in the market. The current market capitalization of HNT is recorded at $549,129,911. It is very less in comparison of its worth, it worths more as it plays a key role in developing modern technology.
It is in the growing stage, currently, it is available on few exchanges. In the future, the popularity of this coin will increase and more and more exchanges will add HNT to their trading pairs. After it will be listed on more exchanges the market capitalization of this exchange will accelerate. In the future, the market capitalization of HNT coins will reach $1,000,000,000. The prices of HNT tokens will reach $15.
Final Sum-Up
HNT is in the growing stage; currently, it is available on few exchanges. In the future, the popularity of this coin will increase and more and more exchanges will add HNT to their trading pairs. It is not expensive in comparison to GPUs. It doesn’t consume huge electricity. There is no tension between electricity bills. Hotspot mining is very simple as there are no complications.
Technology is continuously evolving and changing with time, new improvements are evolving in the technology. Hotspot mining is not that popular yet but there is a good future for this mining. It has more benefits than GPU mining.
