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9 Things to Consider when Buying Helium Miner

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Avatar for MartimMedi
Written by
1 month ago

The helium network is great way to earn some passive income from home. Here are some tips to consider if you want to with helium!

  1. Helium miners are special devices released by the Helium community.

  2. You need to consider the state of the network in your area for evaluating potential mining profits.

  3. The more helium miners are integrated into the network, the harder it is for your hotspot to be selected for a consensus group. So also harder to make money from the miner.

  4. Since the network is still under construction, many areas have no or few IoT devices on the network. This also means there are no or few opportunities to earn from the provision of data transmissions.

  5. Hotspot location is one of the most important factors for profitability. There should not be too many hotspots within 300 meters. Miners located about 300 meters from the nearest hotspot will profit from each other, while miners within 300 meters of your hotspots will profit from each other.

  6. More hotspots in the network result in the same amount of HNT tokens being distributed among more participants.

  7. If you are the only miner in an area, this is not profitable because your hotspot cannot be selected for challenges. You can influence this by setting up another hotspot, for example in your office, or asking a friend or neighbor to set it up at their place.

  8. You can earn HNT by 1) checking each other's hotspots via proof of concept, 2) transmitting data from sensors in the IoT, and 3) joining a randomly selected group of hotspots for a set period of time. The group is responsible for validating the transactions.

  9. The maximum power cost of a helium mining device is 5 W.

So i hope these tips may help you to decide!

( Also in the next weeks are light hotspots, which are cheaper to buy, so if you want to start with helium, you should wait a little bit to save some money. )

In the next days i also write an article about light hotspots, so keep looking forward to it. I would be happy if you let me know in the comments what you think about helium. bye

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