Hello my fellow Helium miners,
“Emrit” miner came, installed it fast, plug and play really, now I’m earning 2 HNT on average.
And ever since I got my miner, I have been asked by many friends HOW DO I GET MY HANDS ON AN HNT MINER?!? That Altcoin has been parabolic (exponential growth).
So, let me write a guide about what’s out there, how to get your hands on a helium HNT miner and what’s the best way to go about it! That way I can explain to all of my friends at once what’s the best way to go about getting some fast-appreciating alt coin – HNT and doing good in the process building the people’s IoT (Internet of things network).
First things first, one thing to understand is that this mining is geo specific. Meaning you earn depending on your location and on the neighbors you have. Who knew neighbors were important, I thought they were just a nuisance fly tipping every Sunday and arguing aloud when you’re trying to sleep, yes, we live in a townhouse. Jokes aside, the more HNT miner neighbors (or witnesses as they’re called) you have the better. The more HNT miners can verify your blocks mined (or challenges solved) the more HNT you’re going to make per day. You can’t have two miners in less than 300 meters apart, one of them won’t work. So, your neighbors have to be more than 300 meters away.
As a Step 1 you go on the Helium.com website https://explorer.helium.com/coverage and here you can see who your neighbors are by zooming in on your state (or country if you’re outside US) and finding your city and neighborhood. Then click on the nearby miners and write down their names, example totally random pick – a miner called “Mythical Denim Marmot”.
Step 2. you go to a website https://www.sitebot.com/helium/monitor/ to see how much this miner is making, which will tell you the ball park of how much you would be making if you bought your own miner. So, we look up our Mythical Denim Marmot and see he’s making 662 HNT coins in the past year which at today’s price is around $60K. That’s no small potatoes considering this is plug and play and completely passive. Mind you I picked an example in the Bay area where there are a lot of people mining HNT coins. At my location I earn 2HNT on an average day which is around 7K$ per year. It really depends on your location.
Step 3. Ask your self how risk averse am I? If you’re like me you want to try this out first and not pay a dime. So, I went and googled Emrit, they mailed me a RAK miner for free (even free shipping) I got it in a week and started mining (read my previous post). What’s the catch they keep 80% of the profit.
Step 4. If you see your location is profitable then buy yourself a miner. They’re around 300-500$. All HNT miners are HNT specific and at this point can’t mine other Altcoins. You’re likely to break even in a few weeks to a month. It’s a good ROI (return on investment) considering the coin is appreciating like crazy. https://www.helium.com/store Make sure you order soon since they’ll need time to start shipping. The synchro miner (different hardware options for HNT mining) is the one that arrives the fastest (April if you order now, RAK have to wait until May/June) and the bobcat miner is the premium version with the more advanced computer inside the rest have the raspberry PI. All HNT miners use very little electricity. Check my usage after 5 hours it is miniscule.
So why I chose to mine Helium and not any other Altcoin? Very low barrier to entry is one reason. Basically, you pay nothing upfront and get $ every month.
Currently exploring HNT staking (like earning dividends on stocks), will write something on that soon.
Until next time,
Silicon Valley Tiger Dad.