Cryptocurrency is changing the economy one decentralised network at a time, and Helium is contributing to that! Mining cryptocurrency has become a popular activity due to its potentially lucrative rewards, but how can you get started?
The answer is by using the right equipment. That's what we are here to explain. This guide will walk you through the Helium Network and how you can get started, even if you are new to crypto mining. Let's start with some fundamentals.
What Is the Helium Network?
The Helium Network is a blockchain that utilises a decentralised system via its numerous miner devices. These miners, known as hotspots, let you mine the cryptocurrency.
By mining Helium, you contribute to this global network and can earn HNT (the cryptocurrency associated with Helium).
How Does Helium Mining Work?
Helium mining is pretty simple to get your head around. Because cryptocurrency relies on a blockchain, each new transaction requires verification.Crypto mining is the process of verifying each new transaction.
These miner devices sync up with each other to create a decentralised network. You need a smartphone and a reliable internet connection to mine the Helium.
Once you have mined the Helium, i.e., verified the transaction, you receive payment in the form of HNT. You can cash this out or keep it as the cryptocurrency for transactions with other crypto users.
What Equipment Do You Need to Set up a Helium Miner?
You might be surprised to learn that you don’t need that much equipment to start. All you need are the following items:
A hotspot miner
A smartphone
A router
Antenna and cables
Hotspot miners are equipped with an antenna that’s designed to use its location to interface with other miners. Antenna placement is key to successfully operating a hotspot. For that reason,investing in a Helium antenna and cables is best. This equipment ensures a secure connection and fast data transfer to amd from your router.
From there, you’re good to go! Your smartphone will allow you to control setting up your hotspot through the specially designed app, which we discuss below.
Setting Up Your Helium Miner: How to Do It
To start earning HNT, you need to set up your Helium miner. Here’s what you need to know to begin.
1. Download the Helium App and Create an Account
The first thing you need to do is download the specially designed Helium app from the app store. The app gives you everything you need to get started and monitor your processes.
The app you use will depend on your phone, but they are all named similar to Helium Hotspot and are easy to find via the app store search bar.
Once you have downloaded the app, set up an account. The app will generate your ‘Helium wallet’, which will store all your essential information.
2. Generate a 12-Word Seed Phrase
Next, the app will generate a 12-word seed phrase for you. If you aren't familiar with this, it's essentially just a list of twelve words that will act as a backup for your Helium wallet.
It's best to write it down or take a screenshot once you receive the seed phrase, so you don't forget it. It's a handy security measure that keeps your details safe.
3. Verify Correct Seed Phrase Order
Twelve words in a sequential order is a lot to take in all at once, so, understandably, you might make a mistake when writing them down. Before moving forward, double-check that you have all the words written correctly. It can help you to retrieve access to your Helium wallet further down the line, should you forget your other sign-in details.
4. Set a Six-Digit Pin for Your Account
For an additional layer of security, the app will also ask you to set up a six-digit pin that you will need to use every time you try to enter.
We also advise making a note of this, just in case you forget it, but keep it elsewhere to your 12-word seed phrase. This way, if someone does find it, they won't have total access to your account. Security is important!
5. Add a Helium Hotspot Miner to the App
Once you have fully set up your account on the app, with all your security details firmly recorded, it's time to set up your Helium hotspot miner!
To do this, try to locate the plus (+) symbol somewhere on the app's interface. You can select your hotspot from here and initiate the connection process with your miner.
This process differs slightly between miners, but they all follow the same general format. Two key types of miners are available on the Helium network: hotspots and validators.
Make sure you know which one you're trying to set up before starting to ensure a smoother set-up.
6. Connect Your Hotspot Miner to Bluetooth and Your Router
Your Helium miner should arrive with a small pin key that you can use to enable Bluetooth via a button on the back of the device. If you do this correctly, a blue light should flash on the front, indicating that you can connect the miner to Bluetooth. You can do this on your smartphone via the app, which will show you the available hotspots.
For Wi-Fi configuration, all you need to do is go back into the Helium app and select available network options. From there, your Wi-Fi should appear; all you need to do is select it to begin the connection.
7. Ensure Your Miner is in the Best Position
Similar to how yourWi-Fi signal is stronger when your router isn't obstructed, your miner should also be kept in an open space. The best place for it is usually beside the window, where it can receive and send signals without potential disruption.
Although miners are often small, you shouldn't store them in cabinets or drawers out of sight. They need to be kept in the open!
Any further steps will be specific to the particular device you choose. Make sure you read the associated instruction manual carefully before proceeding.
How to Optimize Your Helium Miner Setup
In addition to keeping your Helium miner beside a window, there are many ways you can improve your miner's performance with minimal effort. Most of these relate to the antenna you use in conjunction with your miner.
First and foremost, the height of your antenna will play a principal role in how well you receive a signal. The higher the antenna, the farther the radio frequency can travel. The frequency directly impacts mining performance, significantly improving it to earn more HNT.
The type of antenna you use will also play a huge role. Antennas come in a wide variety of sizes and strengths. The greater the strength, the greater the signal, which directly correlates to how much your antenna can pick up.
The strength of the antenna is itsgain—the higher the gain, the stronger the signal.
Frequently Asked Questions
Is Helium Mining Profitable?
Yes, Helium mining has the potential to be profitable in 2024, especially considering you can mine three assets at once. However, this is speculative and depends on market conditions, location, network stability, and the overall cryptocurrency ecosystem.
Do You Need Internet for Helium Miners?
Yes, Helium miners require a stable internet connection to communicate with Helium's servers for Proof-of-Coverage tasks and connecting LoRaWAN access points for data transfer.
Need High-Quality Equipment? Shop Moonraker Today!
So there you have it! You are ready to take on Helium mining, andMoonraker can help. We have a wide selection of Helium antennas and cables so that you can mine confidently and start earning HNTs!
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