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Is Helium (HNT) a Good Investment?
Helium’s HNT is a good cryptocurrency to include in your portfolio if you invest in digital assets with mainstream use and potential. As the provider of decentralized wireless infrastructure, the Helium project aims to power several key trends in connectivity worldwide, including 4G, 5G, IoT, and more, in a low-cost and quick manner.
As the Helium Network adds more Hotspots that connect more devices to the internet and generate Data Credits, the price of HNT crypto could climb higher. Higher on-chain activity on the Helium blockchain could strengthen the HNT price and make it a valuable crypto asset to invest in and hold.
The announcement of more global partnerships with telecom companies could also raise the Helium price. Such announcements drive up investor confidence in the project and make the HNT crypto an interesting asset to buy and trade.
What Is the Helium Crypto Price Prediction?
Although it is impossible to make an accurate HNT price prediction over any duration, several fundamental factors you can monitor drive volatility in the Helium token price. These include:
Level of Adoption
As more businesses and users set up Hotspots to support more devices, the value of the Helium project could take off. This could also bring in more connected devices to use its decentralized wireless infrastructure, driving up the on-chain activity on the Helium blockchain and sending the HNT to USD price higher in the market.
Partnerships and Upgrades
Whenever Helium announces new partnerships or technical upgrades, it increases the project’s appeal among investors. This could cause more crypto investors to buy and hold its cryptocurrency, boosting the HNT price statistics.
A positive market sentiment or risk-on mood among global investors sends the price of cryptocurrencies upwards, supporting the price of HNT token. However, bearish or risk-averse sentiment drives sell-offs in the crypto market that could weaken the Helium price.
What Is the HNT Token Used For?
HNT is the native cryptocurrency of the Helium ecosystem and has the following applications:
Users running Hotspots earn HNT when they provide and validate wireless coverage using their devices. In addition, they also generate $HNT when transferring device data over the decentralized network.
HNT is burned for creating Data Credits (DC). These DCs are then used by devices that use the Helium decentralized network to send data. They are also used to pay transaction fees within The People’s Network.
Validators can stake HNT to run their nodes and contribute to the consensus mechanism of the Helium Network. You can stake a minimum of 10,000 HNT to run your validator node, participate in transaction validation, and block production.
Crypto Asset to Trade and HODL
Trade Helium crypto against other cryptocurrencies to profit from market volatility. You can buy or sell HNT against other digital assets or hold it long-term if you believe in the future potential of Helium. Check the live price of Helium, HNT market cap, circulating supply, 24-hour trading volume, and the latest crypto news before trading HNT in the market.
How to Mine HNT Coin
You can mine HNT by setting up a Hotspot on your home or office window and providing wireless network coverage for devices around you. By doing so, you provide coverage using Helium LongFi, and mine HNT to earn rewards for your contribution.
Helium uses an innovative Proof-of-Coverage consensus algorithm to ensure that your Hotspot uses only 5W energy while operating and mining HNT crypto. The more devices that connect to the network using your Hotspot, the higher your earning potential becomes.
You can also mine HNT when you receive ‘challenges’ from validators to transmit payloads to nearby Hotspots around you to witness and verify. These challenges, also known as beacons, increase your earning potential when more Hotspots are set up around your location.
How to Stake HNT on Helium App
In addition to mining HNT by running your Hotspot, you can also stake HNT on the Helium Network and participate in verifying transactions. You can stake $HNT by running your validator node.
This option requires you to stake a minimum of 10,000 HNT and have the technical skills to set up and maintain a validator node through a virtual server provider. You also need a high-speed, reliable internet connection to keep your node online and constantly running to avoid penalties or a reduction in earnings.
The Helium Foundation has confirmed that token holders will be able to stake HNT to participate in decentralized governance after migration to Solana. Staking HNT will let them earn Vote-escrowed HNT (veHNT) that will represent voting power and can be delegated to Helium subDAOs.
How to Cash Out Helium (HNT)
If you earn HNT through mining by operating a Hotspot, you can cash out your Helium in the following manner:
1. All your earnings from mining HNT will be collected in the Helium Wallet - the Helium Network’s official crypto wallet.
2. You can transfer your HNT tokens from your Helium Wallet to an exchange like KuCoin.
3. On KuCoin, you can trade HNT for USDT in the spot trading section to exchange your Helium tokens for stablecoins.
4. You can then use the KuCoin P2P service to withdraw the USDT as fiat currency into your bank account, effectively cashing out your HNT earnings.
Helium (HNT) Price Analysis
Live PriceThe live price of HNT is 1.43 USD, representing an increase of 0.34% in the past 7 days and -2.51% decrease in the past 24 hours.
Historical TrendsThe all-time high of HNT was 55.21 USD on 11-12, 2021, from which the coin is now down -97.40%.
The all-time low of HNT was 0.253 USD, from which the coin is now up 82.34%.