By mining helium, you can earn passive income. By comparison to Bitcoin mining, Helium mining is much more cost-effective, because it uses some cheap, low-power devices, called hotspots. If you decide to use a hotspot, you will notice that the electricity costs per year will not surpass 5 USD. Besides the low cost, mining Helium has other advantages, such as the fact that it produces no noise. By comparison, ASIC devices have a noise level that ranges between 50 DB and 75 DB, which resembles the noise made by a vacuum cleaner. Being silent enables people to use it even in a small flat, without bothering the neighbors. At the moment a Helium miner is also profitable, bringing about 10 USD per day, which is more than what most graphics cards bring.
One of the best hotspots is Bobcat 300, although you can choose from a great variety of helium miners. Although they may look similar, there are great differences between those types of miners so you should look at their characteristics before you buy.
Whoever intends to increase his profits should take into consideration certain aspects. The Helium earnings depend on several factors. The antenna of your hotspot will play an important role in how much you will earn. Although many people choose to buy a fast miner, hoping that this will bring more profit, a strong antenna, which provides a good signal coverage, is much more important. Regarding the placement of the hotspot antenna, it is advisable not to place it behind the glass of a window, because glass reduces the signal strength. Humidity, such as rain or snow absorbs radio wave energy, meaning that it also reduces the signal strength.
Another method of increasing the profit is to persuade your friends or family to allow the setting up of a hotspot at their place and then split the profits with you. In this case, you should buy the hotspot and set it up for them.
Invalid witnesses can be one of the reasons why you do not earn enough with Helium. Reducing them might increase the earnings. Open the hotspot in Helium Explorer, click the beacons and scroll down until you find the invalid witnesses. Open each witness to see the reason why it is invalid. There can be two reasons. On the one hand, the witness can be too close, and in this case, there is nothing you can do about it. The second option is that the witness rssi is too high. This problem can be fixed by going to the Helium App and clicking on the settings of your hotspot. Then click Update antenna and modify to a higher number the gain settings of your antenna.
Location is a very important factor that will determine how much you earn. Your earnings are influenced by the number of Helium miners who already are in your area. For example, if there is no other miner in an area of 10 km around you, you are very unlikely to earn anything. If there are too many hotspots around then you will earn very little. This is why it is advisable to go to the Helium website before you decide to buy your miner and find out how many hotspots there are around your location. You can do this by clicking on the explorer link situated at the top of your screen. You will see a map on which you can select your location. There you will see all the hotspots around you, together with details regarding their earnings, hotspot type, or antenna height. This way you can decide whether it would be profitable to buy a hotspot or not.
If you don’t plan to spend your Helium, you can decide to stake it. Staking can also help you increase your earnings. If you want higher earnings, you can choose to be a validator. Nevertheless to become a validator you will need 10.000 HNT. In case this is too expensive, you can alternatively choose to take part in a staking pool. By doing this you invest less, but the rewards you will earn will also be partial. There are several staking websites, such as helium-staking.com, Binance, or heliumrising.com.
According to price predictions, it is believed that the Helium price is going to increase in the future. This is another reason why you will be able to make more money if you keep your Helium over a longer period of time in your wallet instead of spending it.