Best Practices For Earning The Most HNT With Helium Hotspot
Mining cryptocurrency is automated and simple. However, just having a good mining setup isn’t enough. There are some things you need to understand and practice if you want to make the most money possible.
Efficiency is vital for every good money-making enterprise. This article will show you the best practices to earn the maximum amount of HNT with your helium hotspot.
How the Miner Works
To get the best out of something, you first need to understand how it works — the same goes for your miner. Most people think that once they get a helium miner and set it up, they automatically start making money. While that may be true, there’s still more to it.
In simple terms, your miner sends signals or pings which can be received by other miners nearby. These pings called beacons verify that your miner is part of the network and is active in the system, and hence you get a reward. However, the number of miners that witness these pings determines the reward amount received.
How to Make the Most of your HNT Miner
To make the highest amount of money with your miner, you need to reach as many miners as possible. The following practices ensure that your miner is in the best possible position to earn those rewards.
1. Choose the Right Location
The ideal location is not oversaturated with miners. The helium networks reduce earnings if your miner is too close to another one — this tends to happen in big cities where people live in multilevel housing structures.
Imagine having two miners on different floors in the same building — this would drastically reduce the earnings of both miners.
On the flip side, placing a miner in a remote vicinity with no other miners nearby would receive small pings and earn very little. Therefore you need to place your miner in an excellent location at a safe distance from other miners where you can receive the best earnings.
Regarding location, it is best to choose one that isn't too densely or too sparsely populated with other miners. This is also referred to as 'hexs' or hexagons which can be viewed in the Helium Explorer.
2. Install your Antenna as High as You Can
Helium miners work using the LoRA technology, which operates on a low power frequency — this means obstructions like walls and buildings can easily block it out. Once this connection is interrupted, you can be sure that it means you won't be earning as much as you could be.
You need to place your helium antenna high up where it has a good line of sight to other miners. The best earners on the helium network have their antennas placed on top of skyscrapers where the antennas can receive and send pings to and from all miners nearby.
3. Buy a High Gain Antenna
Your antenna is your best friend when receiving and transmitting wireless communications. With equal radio equipment in all hotspot setups, the antenna is what truly distinguishes them. For more in-depth information about Antennas and Frequency's check out this article.
4. You need Fast and Reliable Internet.
Your helium hotspot requires good internet connectivity to connect to other hotspots effectively. This situation may be challenging for many people and we highly recommend that you don't use regular cell network as in most cases it will not be sufficient for mining purposes.
5. You should Install your Miner Now.
The Helium network releases a fixed amount of HNT per year, and the rewards are percentage-based — this means that by mining, you only have access to a percentage of the monthly HNT, so the sooner you start mining, the more you're able to earn. Since Helium is gaining worldwide popularity, more and more people are buying miners and shortening the ration.
Summary
There are many myths and assumptions regarding the issue of mining and earning cryptocurrency. It has led many people to not do their research before entering the space.
It is not enough to just own a miner. You need to take very intentional steps to enjoy the benefits and thus rewards fully. To make money by mining HNT, you need to create an efficient method.
Although you need to understand the individuality of owning your miner, you may need to navigate yours specially. This article touches on the different steps to build an efficient system that would earn you HNT daily regardless of your setup.
FAQ
How does the Hotspot work, and what does it power?Hotspots enable consumers to own and operate a wireless network that interacts with many Internet of Things (IoT) devices, including smart pet collars, smart bikes and scooters, medical transport and tracking devices, smart lighting systems, and more.
Can the Helium Hotspot replace the Wifi?
Hotspots transmit a Long-Fi radio signal and route packets from low-power devices in your area using the LoRaWAN wireless protocol and connected to the Helium Network. Most of the time, these are devices like GPS trackers, environmental sensors, and weather meters that only need to send and receive small amounts of data.
The Hotspot sends out data packets from devices connected to your Internet (through WiFi or Ethernet). It doesn't replace the internet or cellular service for standard devices like laptops and smartphones.
How far can the hotspot reach, and does it use Radiofrequency?
Helium's Long-Fi uses radio frequencies that are below 1 GHz. It is made up of the Helium blockchain and LoRaWAN wireless technology. In contrast to GPS and cell phone signals, Helium LongFi can connect devices even when they are inside buildings and can travel for hundreds of kilometers.
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