The Future of Helium (HNT): Why Is Helium Mining a Great Way to Make Money?

Despite being a relatively newer blockchain that facilitates the creation of public wireless networks, Helium exploded onto the scene a while ago. The startup’s chief operating officer, Frank Mong, was surprised by this surge of interest in Helium mining.

Considering the world’s collective interest in modern technology, it’s understandable why many people are inclined towards Helium mining. The Internet-of-Things cum cryptocurrency model adopted by Helium is the main attraction for ‘hotspot miners.’

Below, we discuss the future potential of Helium crypto and why it’s a good way to make money.

How Does Helium Work?

Helium is based on the Proof of Coverage algorithm. People who mine Helium are rewarded in HNT, which is a cryptocurrency. It’s quite similar to how Ethereum is the blockchain technology that also has a coin called ETH.

Helium miners are called HNT Hotspot miners. There are different types of miners, such as RAK Hotspot miner, outdoor miner, HNT indoor, and Bobcat miner 3000. You can get these miners in two ways:

Preorder a miner from a company.

Connect with a company that agrees to give you a miner in return for you sharing a percentage of your Helium earning with them.

The Future of Helium

Nowadays, the Internet of Things is taking over as it is used for many ‘smart’ devices. Smart garage doors, light bulbs, and washing machines are just a few examples of Internet of Things’ applications.

IoT devices are even being used in hospitals for patient care. A common example of IoT is parking garages that have wireless sensors to determine if there is an empty space inside.

This information is further conveyed to the entrance, where a driver can see if they’ll find a parking space in the garage. With advances in technology, these devices are getting more capable. However, all of them experience a common limitation, which is communication. Since both Wi-Fi and Bluetooth have limited ranges, it’s not possible to use them for long-distance communication between devices.

That’s where Helium proves to be useful. Helium utilizes a unique radio frequency technology that provides extensive coverage to these devices. Miners have hotspots installed in their homes that provide wireless coverage for IoT devices.

As more people install these hotspots in their homes, the network will eventually become bigger and more reliable. In exchange for this, Helium rewards miners in HNT, which is the blockchain’s token. Here’s why earning money through Helium mining is a low-effort yet lucrative opportunity:

IoT Market Growth

The IoT market is growing at an exponential rate. In 2017, the revenue generated from the market reached $100 billion. According to the forecasts at the time, the industry was expected to grow up to $1.6 trillion by 2025.

However, the pandemic came as a huge blow to the IoT market. Despite this disruption, experts expect the market to return to its normal peak in 2021.

Helium itself is experiencing substantial growth. According to the company’s CEO, Helium had 232,193 hotpots in 136 countries and 19,000 cities in just a span of two years. Even now, 1,000 new hotspots join the Helium network every day.

Smart Cities

Barcelona is a prime example of how smart cities will be in the future. The city has adopted smart technology at a large scale, and other cities around the world are expected to follow suit. The Internet of Things data from 2021 showed that the technology for these projects is readily available.

IoT will arguably be a governing factor in the development and progression of these cities. Here are some ways in which IoT can help smart cities:

Smart cities can use electric aircraft to avoid traffic congestion. IoT will help smart cities find sustainable alternatives to fossil fuels, allowing them to combat climate change

Adoption by Companies

Besides everyday users, companies are also expected to adopt IoT for organizational purposes. According to the Business Insider Intelligence report 2018:

There will be over 55 billion IoT devices in 2025, which is a nine billion increase from 2017.

The investments in IoT from 2017 to 2025 will amount to almost $15 trillion. More companies are planning to invest in IoT.

With the industrial sector jumping the bandwagon, the rise of IoT is inevitable in the future. Thus, Helium mining has the potential to be a source of income for an extended period.

In fact, some companies have begun to use hotspots to power their IoT devices. Some of these devices include tracking sensors for scooters, air quality sensors, and pet trackers.

Lime, a bike-share company, uses Helium’s IoT hotspots to track its bikes. In the initial testing phase, the company’s employees took the scooters all over San Francisco and hid them in different spots.

Every time, the Helium team found the scooters, owing to the strong connectivity of the hotspots across the city.

Increase in HNT Prices

Another thing that makes Helium crypto and mining a successful venture for the future is the ever-rising HNT prices. At the time of writing (November 9, 2021), the price of one HNT was $42.355. Data from the past year shows that HNT prices have been on the rise constantly.

According to Gov Capital Investor’s predictor algorithm, the price of HNT will be $102.17 in a year’s time.

But this is not the only crypto blog that has positive predictions for HNT prices. Wallet Investor also forecasts that the maximum price of a single HNT will be $65.06 by 2023. Meanwhile, the lower is expected to be $55.37, which is still higher than the current price.

Experts at Wallet Investor also expect the HNT price to be $166.288 by 2026. None of the predictors speculate Helium to crash in the near future. This is mainly due to the association of Helium crypto with a business model that is not only practical but also futuristic.

Since HNT prices are expected to increase significantly in the next few years, Helium mining is a good opportunity for you to earn money right now and in the future.

Final Words

To sum up, Helium definitely has a potential for growth since it’s low-cost, environment-friendly, and easy - everything an initiative must be to grow successfully. Unlike Ethereum or Bitcoin, you don’t need tons of electric power and thousands of dollars to mine Helium.

Therefore, Helium mining is relatively easier and also earns you a cryptocurrency that is doing exceptionally well in the market.

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