Earn Passive Income With Helium
We all use the internet. In fact, you’re using it right now. But you and your phone are not the only things that connect to the internet. All sorts of things do. Refrigerators, TVs, watches, scooters, and countless other devices are all part of what is appropriately called the Internet of Things (IoT). These smart devices aren’t very smart without an internet connection, but obtaining that internet connection can be pricey.
What if all these smart devices had their own internet that works just for them? This would allow these devices to always stay connected anywhere, anytime. This is the future that Helium is trying to create.
The Helium Network
Simply put, networks are what allows a device like your smartphone to connect to the internet. Cellular networks such as Verizon’s or your own home’s WIFI network both accomplish the same thing in different ways. Lime Scooters, for instance, need internet connectivity to operate, but ideally Lime doesn’t want to connect its scooters to Verizon’s network and pay an arm and a leg for service. However, Lime scooters can’t just tap into your home WIFI either. So what do they do? Luckily for Lime there is a solution known as LoRaWAN, which is short for long range (LoRa) wide area network (WAN). A LoRa signal can be sent about 200x further than a home WIFI signal. Before you go out and buy a LoRa router, they are not meant for high data consuming devices like smartphones and laptops. However, they are perfect for IoT devices like Lime scooters, which require an internet connection but do not need the features of a cellular or wifi network.
How it works
Helium’s goal is to build the world’s first peer-to-peer wireless network that allows anyone to build out a massive, cost effective wireless infrastructure for low power IoT devices to connect and communicate with the internet.
Helium aims to create this new wireless economy by utilizing two units of exchange: Data Credits and HNT.
Data credits are what companies buy to be used by their devices to send data on the network.
HNT is the cryptocurrency that hotspots earn for providing and validating wireless coverage. HNT is also earned when devices on the network connect to the internet through the hotspot
The Helium network is powered by LoRa router hotspots that lay in the homes of people just like you. Right now there are about 27,000+ active Helium hotspots,a number that is growing every day for good reason. The demand for these hotspots and access to this network is rapidly growing along with the explosion of IoT devices. Currently there are about 10 billion IoT devices worldwide, and that number is expected to triple to 30 billion by 2025. All of these new devices need a way to connect to the internet and Helium aims to provide that way.
How to participate and earn HNT
To participate and earn HNT you need to purchase a compatible hotspot which you can find on Helium’s main website for around $400. Once you purchase and set up your hotspot you are now mining HNT. Some users claim that their routers are earning around 7–10 HNT per day, which at current prices of ~$13 per HNT is around $100 a day of passive income (before accounting for electricity bills). Of course, that is just one example so be sure to do your own research before investing.
All and all, Helium may one day change the telecom industry for the better.
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