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All About Crypto Mining And How To Start

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What Is Cryptocurrency Mining?

Mining is the process by which Bitcoin and many other cryptocurrencies use to generate new coins and help verify new transactions.

They are vast decentralized networks of computers around the world that verify and protect blockchains, the virtual ledgers that document cryptocurrency transactions. Unlike a centralized physical bank, Bitcoin behaves like a decentralized ledger, a record of transactions kept in multiple locations at once and updated by network contributors.

miners usually use expensive and complex mining rigs to do these calculations, and the more computing power you have, the easier it is to mine Bitcoin.

However, the problem is that the miners have to be the first to find the answer or not get the reward, although they still give their computing power to the network. Once a miner finds the answer, a group of transactions (or blocks) are added to the ledger.

The miner who gets to solve the equation is rewarded with bitcoin (if it’s about Bitcoin Mining) and all transaction fees added to the blockchain ledger. Then the whole process starts again until someone finds the solution to the next equation.

People have created more complex setups and specialized devices to maximize the processing power.

The early miners have used their PCs with only the processing power of a CPU that was available to them.

How Much Do Bitcoin Miners Cost?

the cost for Bitcoin miners is usually relatively high for starters with low budgets. It can range between 1000 and 3000 dollars. However, there’s still alternatives to Bitcoin mining that are way cheaper.
Keep reading because we are about to mention one very cryptocurrency mining miner that isn’t costly at all to purchase! The best part about it is that it is completely silent.

Helium Mining

Helium is a decentralized wireless network that uses low-power intelligent devices (IoT) which transmits and receives data within the internet.
Helium Network's coverage suppliers are called "miners".

Miners buy a helium hotspot to use HF radio signals to provide coverage in exchange for payment in helium tokens (HNT cryptocurrency). The coverage test confirms the representation honesty of the miner's hotspot‘s location and the coverage of the wireless network from that location.

The price of one Helium coin today equals to 20.26 USD (check the updated price on your search engine because cryptocurrencies are so volatile).

How To Start Mining Helium

Unlike Bitcoin Mining, Helium mining is less expensive, noise-free and is much easier to start because it doesn’t require any technical expertise.
Simply start by purchasing any Helium miner you prefer, wait until it ships to your home and connect it to the official Helium Network’s App (It’s available for IOS and Android devices).

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Once you download the app, simply create an account and a wallet, the app will be giving you 12 words as your secret pass-phrase. You have to write it on a piece of paper, keep it safe and never write it on any device connected to the internet!


How Much Do Helium Mining Hotspots Usually Cost?

Helium mining hotspots usually cost between 499$ and 700-900$. Check this Sensecap device linked above! According to research, Sensecap ranks between the top and most recommended helium mining hotspots.

How Much Money Can You Make With Helium Mining?

One can’t really tell how much exactly you can make with Helium mining because it’s very variable -very fast- and it depends on many things, including but not limited to:

1. Your Hotspot device and its quality.

2. Your location and setup (including Antenna setup).

3. The price of Helium.

4. How many Helium devices you plan on having.

5. How many nearby Helium miners are there in your area to allow witnessing.

I personally know people whose antennas are well setup and are making at least 150/200$ a month from one Helium miner. If we take this example, then it’ll only take you around 4/6 months to get back your initial investment, afterwards everything you make will be pure profit!

Antennas usually amplify your Hotspot’s potential to generate and receive more Helium coins, however, one can still mine Helium with a Helium miner without them. It is important to note that the earnings without antennas can be lower. Antennas that are specifically made for these hotspots don’t usually cost more than 20 to 30 dollars.

Purchase your Antenna here!

If you need more options to make your best purchase decision, check out these other Helium Mining hotspots down here!

If you liked this article, please share it with your friends and family! Help spread the word about the future of earning opportunities!

This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.

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