In case you’re wondering, yes this is a real case study and it is not my case (unfortunately for me). Here are the numbers real quick, and then we get into the nitty gritty details of how you can make even more easily.
You probably guessed already that this business proposition involves Cryptocurrency. Helium Network to be more precise. The example I gave is a really modest one, but well above the average paycheck (especially in the country this takes place).
So, what are the details?
Well assume you buy 4 Helium miners. Helium miners provide LoRa Network coverage for Internet of Things devices (such as electric scooters, dog collars, water sensors, you name it). The most expensive miner costs $500 (VAT included) but there are cheaper miners that do exactly the same thing. That’s your initial investment of $2000.
Then you need 4 places to put these devices. You can ask some friends or neighbors to aid you, or you can do what this guy did:
Drag an Internet cable in the middle of nowhere and bring a router with you (you need to split that into 4 different cables, each device needs an internet connection). Or figure out a way to get Internet connection. Put some solar panels and you’re set. Each device drains about 15W tops, so you don’t need that much power either.
And then you wait. Set it and forget it.
This guy mined 582 HNT in the last 30 days.
With $14.46 per token, that’s $8415 ! Now with the Crypto markets booming and Helium Network being the promising project that it is, I doubt the prices will stay at this level for too long. I see it going at least at $100 this bull cycle, and then maybe retrace to $20 when the bear market comes in 2022.
Still here? Good!
Now I’m going to tell you where you can buy your own devices and do the same, if not better.
Keep in mind these 3 key things:
- You need at least 300m (approx. 1000ft.) between each 2 miners. You cannot place 4 of them in your house, you need to provide surface coverage.
- The demand for these devices is high, so the delivery time varies, but in best cases you are still going to wait for yours for at least 8 weeks.
- You might want to invest in an antenna as well to boost your earnings (though I doubt the guy in the above example used any additional antennas). Keep in mind that you need to order the correct frequency, depending on where you live for the devices and antennas as well.
The quickest delivery time is from Nebra. You will need to pre-order yours. You can choose between the indoor or the outdoor version. The only difference between them is the waterproofing (no performance difference).
They also provide antennas.
The next one is RAK wireless. You can also get a good deal for antennas here by buying a bundle of 2.
So, that’s pretty much it! You can use this link to check your miner or other miner performances, but there are plenty more resources out there if you want to know more about Helium and boosting your earning.
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