How and Where to Buy Helium (HNT)
Shawn Fanning, Amir Haleem, and Sean Carey started Helium in 2013. Fanning developed the first mainstream P2P (peer-to-peer) music-sharing service, Napster, in the late 90s. Haleem’s background is in game development and eSports, while Carey primarily held development roles.
The Helium mainnet was launched in 2019 to enable wireless communication between low-powered devices. The company’s goal, which it has worked on since 2013, is to identify weaknesses in the current IoT (Internet of Things) infrastructure to prepare for more efficient future IoT communication.
What Is Helium (HNT)?
The Helium network describes its platform as the “people-powered network.” It’s a decentralized network powered by a blockchain for IoT (Internet of Things) devices, enabling data transfer across the platform’s network of nodes.
The network nodes are called Hotspots, a combination of a blockchain mining device and a wireless gateway. Mode operators mine on the network, and Helium incentivizes with $HNT token rewards. $HNT is the native token of Helium.
“Start a Wireless Revolution. Powered by the Helium Blockchain, The People’s Network represents a paradigm shift for decentralized wireless infrastructure.” – Helium website.
What Makes Helium (HNT) Unique?
The Helium network has over 700,000 Hotspots and purports that the People’s Network “is the world’s fastest-growing wireless network ever.”
When the founders created Helium, the capabilities and infrastructure of wireless IoT were limited. Still, developers wanted to offer decentralization, but it was a challenge with limitations.
People participating in the Helium network purchase Hotspots, a combination of a mining device and a wireless gateway. It’s also possible to build a Hotspot of your own. Each Hotspot covers a specified radius. At the same time, it mines $HNT tokens.
The Helium network uses PoC (proof of coverage) consensus mechanisms. The algorithm is based on the HoneyBadger BFT (Byzantine Fault Tolerant) protocol, which means that nodes can achieve transaction agreement in potentially highly variable environments or adverse conditions, even tolerating corrupted nodes.
The Helium website states that it provides a new way to mine cryptocurrencies. Using a simple device from your office or home, it’s possible to “provide your city with miles of low-power network coverage for billions of devices and earn a new cryptocurrency, $HNT.”
- Hotspot mining uses radio technology instead of energy-intensive and expensive GPUs
- The Hotspots combine efforts to create a new wireless network
- There is not one single provider. Anyone can build a Hotspot with multiple hardware options
The Helium system provides thousands of potential solutions, devices, gateways, and sensors. All can be configured easily to LongFi (long-range Wi-Fi – a low-cost, unregulated alternative to fixed wireless or cellular networks or satellite Internet) with a combination of blockchain and LoRaWAN (low-power and wide area network).
The Helium network says that thousands of developers and hundreds of companies are building on the People’s network and is the fastest growing and largest LoRaWAN. The list includes CoinDesk, Forbes, Time, Decrypt, and Fortune.
How and Where to Buy Helium (HNT)?
Now it’s time for you to buy Helium (HNT) tokens – if you want to. The first step is to open an account with a cryptocurrency exchange that lists Helium (HNT) tokens. It’s best to use an exchange with a good reputation in the crypto space, like Binance, established in 2017:
- Register your details with Binance and submit the identification documents as requested
- Deposit fiat currency with your Mastercard or Visa, or make a deposit using a supported cryptocurrency. If you prefer, choose the wire transfer option
- Choose a Helium (HNT) pair: HNT/USDT, HNT/BUSD, or HNT/BTC
- Send your tokens to a secure crypto wallet. Binance offers both a hot and cold wallet (either the exchange wallet or the app download). We recommend you download the wallet app before you purchase the $HNT tokens, for advanced security
How do I Sell Helium (HNT)?
If you’ve made a profit with your Helium (HNT) tokens, you may be ready to sell:
- On the Trust wallet app or the Binance exchange wallet, find the “trade” tab
- Convert the $HNT to $USDT
- Transfer the $USDT to an off-ramp platform with a good range of fiat currencies, like Coinbase
- When the transfer completes, convert the $USDT to fiat currency and request a withdrawal to your bank account
Should I Buy Helium (HNT)?
It’s best to make a purchasing decision based on your research and financial situation, as we cannot provide financial guidance. The cryptocurrency market is unpredictable, so there are no guarantees that the price of $HNT tokens will increase.
Crypto prices can drop rapidly and lack momentum for long periods. If you can accept the ups and downs of investments and are ready to buy Helium (HNT), sign up with a reliable cryptocurrency exchange like Binance, Gate.io, or KuCoin.
How do I invest in Helium (HNT)? Safely?
If you wish to invest in Helium (HNT), consider how much you could lose as well as how much you could gain. Research the project’s development plans and whether high-profile partners have committed to the project.
You’re hoping for longevity, sustainability, and scalability from a cryptocurrency investment project. If you’re happy with understanding the potential pitfalls and the gains from investing in Helium (HNT), it’s best to buy the tokens from a reputable cryptocurrency exchange, such as:
The above platforms have a broad range of services, tokens, trading markets, provide customer support, and offer proprietary crypto wallets.