The peoples network
So this is a great way to make some extra money if you live in a more populated area. I would definitely check them out if you think you might be in a good location for this. So I’ll give you a quick rundown as to why I say populated area.
The Helium network runs LoRaWan radio frequencies to IoT devices. If you don’t live in an area filled with lots of IoT devices like smart homes, cars, watches, tvs, all of that kinds of stuff, you won’t make as much money. Likewise, if you live in an area filled to the brim with Helium devices, you won’t make much money either. They have density maps available that show you what your area looks like and you can make the decision from there.
A more in depth look.
So lets talk a little bit more about this and what it is and how it works. Helium has made it really just super simple for you. You can either purchase a miner from them or a few approved companies, or you can get them for free from a few other places.
What you need
- Wifi connection
- Smart phone
- Somewhere to plug the device in
- 420$ + tax (optional)
Once you get your device it’s really straight forward. You’ll download the helium app. Here’s the link for you on google play Helium App. Here’s the IOS version for those of you that run apple. Once you do that, you’ll create your wallet. For anyone new to cryptocurrencies, SAVE YOUR SEEDPHRASE!!! This is the 12-24 word phrase they give you. Do not lose or share it with anyone. It gives you access to your account if you lose your password. It also allows you to recover the account when switching devices, some wallets won’t sync outside of the device without the passphrase.
Once you have your wallet and your seedphrase is securely put away, you want to set up a new hotspot on the helium app. In order to do this, Turn the Bluetooth on your phone on, plug your hotspot miner in and click the set up a hotspot button in the app. Your hotspot miner will only stay Bluetooth active for about 5 minutes. If it doesn’t pop up right away search again and it should pop up. Connect it to your wifi and follow the rest of the setup process.
After you have it set up, place it near a window or for the more diehard crypto enthusiasts you can secure it to a pole and put it 15 feet above your house. Which ever way you want to do it is up to you! (I’m not joking about putting it on a pole above your house!) I’ll explain why this matters in a moment.
Once you finish setup process, it is going to take about 2-3 days to fully sync with the blockchain. This is because it has to download information from the beginning of the Helium network all the way till now. They are currently working on an update to the network however, where this process will no longer be. Until then though, you have to wait a few days. After it syncs fully to the block chain, it should start earning. I made over 500$ my first month you guys, the device only costs 420$ in the store. How’s that for returns?
Free miner vs Paid miner
So earlier I had mentioned you can get these for free or buy them. In order to get yourself started for 0$ down, you have to be willing to give up some of your earnings.
Emrit.io will send you a free hotspot, in return they will take 80% of your earnings for the first 12 months. This is definitely not the route I suggest to go, however if you want to make SOMETHING rather than nothing, this is the way to go.
If you have the money though, I suggest just buying one yourself if you are in a good area for it. My current 30-day earnings for HNT from using this device, about 50 HNT. That is $500+ in USD. Using Emrit.io you would only get 10 of those. The devices cost $420 + tax so it is quite an investment, and you have to wait about 2 months before your first payment. However, really, if you can afford it, just buy one at the link below.
Get others to sign up and earn more!
Once you have your account set up for everything, start using your referral links to get more earnings from your friends and family, or at the very least have them check us out and learn about what we are doing to better the community. The more people we get involved the more we can make change happen.
Let it sync, this takes time.
When you initially set up the device, it will take a little while before you start to earn. It has to connect and sync up the blockchain, which is over 1 million blocks high now. So give it a good 24-48 hours, If it isn’t working after that, contact support. As long as you don’t unplug it or mess with it, and If you set it up the way it tells you to, it’ll work. Soon, you will start earning HNT (Helium Tokens.)
Ok, so I also said earlier that you could put it in your window, or strap it to a pole and put it 15 feet above your house! Haha. I’m really not kidding either. Placement plays a big factor in your earnings. If you have it inside, surrounded by objects, or blocked off from the outside by walls, you won’t make as much.
With your device ready to go, you will want to make sure you put it somewhere it can see in all directions clearly, and preferably the higher up the better. Radio frequencies by nature travel large distances when they are unobstructed by objects. So in order to maximize your earning potential, you preferably want to have it outside on your roof or attached to something that raises it above the rooftops and treelines around you.
LoRaWan is the frequency used for IoT devices. It’s coupled with “LongFi” technology to give large area coverage for IoT devices to connect. I have so far gotten mine to reach distances of 28 kilometers (17 miles) with the standard setup that they send you. This is just by placement only. You can upgrade the antenna but I don’t recommend it, too strong of an antenna can actually downgrade your device because the system detects it as a system error and doesn’t payout for it.
Anyway, radio frequencies travel better in clear open space, and from up high. That’s why they make radio towers so high up. It’s also nice if you live somewhere high, like every direction around my house is “downhill” even though the land looks flat to me. But if I was surrounded by mountains, I wouldn’t get nearly as good of coverage as I do. The more devices and helium hotspots your device connects to, the better. So get your friends around town to pick them up too! You can ever get referral commissions if you do it right!
Happy earning guys!