Making Money with Helium (HNT)

Helium mining is a way to earn passive income. As compared to Bitcoin mining, Helium mining is a much cheaper alternative, since it uses cheap, low-power devices and it also protects the environment by using very small amounts of electricity. Helium mining uses less than 5 dollars of electricity per year. There are lots of advantages to mining Helium. As compared to the ASIC devices that produce a huge noise, the Helium Hotspot is silent and can therefore be used even in a tiny apartment, since it does not bother the neighbors. Besides being silent, the Helium miner is also very profitable. At the moment you can make about 10 dollars per day, which is great if we compare those profits to the income brought by some of the most popular graphics cards.

You can choose from a great variety of hotspots, and although manufacturers are trying to make you believe that all helium miners are identical, there are substantial differences between those devices. The best Helium miner you can order by far is the Bobcat 300 Hotspot.

If you want to increase your Helium profits, there are some details worth taking into consideration. There are different things that affect your earnings. On the one hand, your earnings will be dependent on your location. Another important aspect is the antenna. Some people buy the fastest miner available, in the hope of getting higher profits. In fact, what matters more is a good antenna, because it helps you get good signal coverage. It is recommended not to place the antenna behind a glass window because this can reduce the signal strength. Rain and generally water reduce the signal because water absorbs the energy of the radio wave.

Reducing invalid witnesses is one way to increase your earnings. Go to the Helium Explorer page and open your Hotspot. Here you must click on Beacons and scroll down and check the Invalid witnesses. Click on the Invalid witness to see the reason why it is invalid. If the reason is that the Witness is too close, you cannot do anything about that. But if the reason is that the Witness rssi is too high, you can fix this issue in order to increase your earnings. Just go to the Helium app and click on your hotspot Settings, then on "Update antenna" and change the Gain settings of your antenna to a higher number.

Another tip for increasing your mining rewards is to persuade your friends or family to set up a hotspot and then split the profit with you. You can buy the miner for them and set it up at their place and once it starts mining, you can split the earnings with them.

Helium Staking is another method of increasing your earnings with Helium. If you do not intend to spend your Helium, you can decide to stake it, to make more profit. A validator needs 10.000 HNT. Since that is a lot of money, most people prefer to take part in a staking pool and earn partial rewards. You can use different websites for staking such as helium-staking.com, Binance, or heliumrising.com.

You must also take into consideration that your earnings are influenced by the number of Helium miners who already are in your area. If you are the only miner in an area of 10 km, you will probably earn nothing. On the other hand, if your area has too many hotspots, you will earn some money, but it will be a very low amount, compared to the average HNT earnings. You can check how many hotspots your area has by going to the Helium website and then you can click on the Explorer link that you can find at the top of your screen. On the map which appears, you must choose the area you live in. Here you can see the number of hotspots, as well as other details, such as their earnings, the height of the antenna, or the type of hotspot used. This way you can get an idea of how much you could earn if you bought your own hotspot.

The fact that the price of HNT will increase in time, is another reason why you will be able to make money if you keep your Helium over a longer period of time instead of spending it.