Helium Mining: Is It Profitable? (Explained)

If you have the right economic conditions and strategies, helium mining will definitely be profitable.

Here Is Why Helium Is Profitable:

Since Helium’s founding in 2013, the crypto mining field has seen a continuous increase in the network’s price. The first year was barely a dollar. However, its peak started in 2020 when the price climbed from $0.67 to $1.77 just within days.

Soon enough, Helium was topping the newbie crypto mining networks with a price of more than $2.

As of February 2022, you should expect Helium to be worth around $25. You’ll be glad to know that future price predictions are looking good with no chance of drastic dips.

It’s safe to say helium mining is, and will still be, profitable in the long run as far as the present data can assess. This is ideal for short and long-term investment goals. This will also suit beginners.

Throughout this article we are going to speak about Helium Mining and how to start, the profitability in detail, and how much you can make. We will also be discussing different profitability’s in other countries including United Kingdom, Australia and India. Thanks for reading

How Can You Start Helium Mining?

There are two ways how you can start helium mining.

Before we talk about the two methods, you should first keep in mind that HNT refers to Helium tokens. It’s important that you remember this to not get confused in the later sections.

Going back, the first method involves buying Helium tokens from the crypto market. From there, you can either hold it or sell it until the price fluctuates. Here, your investment will lie in how much you used to buy your tokens.

The second method comes with a more innovative network. This involves using a hotspot. This is a wireless device that will let you mine and get HNT and connect with other nearby miners.

The said hotspot will serve as your investment in the network. It will range from around $400 or more and will be valid as long as you have the network’s connection. On average, you can expect to have around 7 to 20 HNT in one day.

Whichever method you choose to mine Helium tokens, profitability will stay at the same high levels. You can simply depend on your preference and needs.

How Much Can A Helium Miner Make?

On average, you should expect to make around $20 to $500 in one day as a helium miner. Considering that you keep your mining performance consistent, you can have around $100 to $5,000 by the end of the week.

Note, though, that you should not expect a fixed, stable amount daily or weekly. You will need to consider a lot of factors concerning economic conditions, Helium’s current records, and likes.

For a clearer overview, let’s go through each necessary factor one by one.

To start, we have the economic condition. No matter which country you are in, expect that you’re subject to specific cryptocurrency prices, exchange rates, market cap, and coin circulation. These are all affected by how your country responds to certain national and financial aspects.

As a rule of thumb, the poorer the financial response of the country, the lower the exchange rates and money value involved. The cryptocurrency’s base country, which is the USA in Helium’s case, will also affect the current price of the coin.

The country’s current competition level in helium mining will also affect the specific price of one Helium token.

Your performance is also one of the biggest playing factors in your total earnings. No matter how high the current HNT price is, it won’t be of any use if you don’t invest time and effort in mining a lot of HNTs. Simply, the more Helium tokens, the higher earnings.

Location density is another factor that you should acquaint yourself with. This term refers to the number of HNTs there are in your current area. This will be affected by how prominent Helium hotspots are in one city.

In line with location density, you should also take your hotspot’s radius into account. It points to the coverage of your hotspot network, which directly affects the possible number of HNT that you can mine in a day.

Keep in mind that both location density and hotspot radius will further depend on factors. Some of these include the hotspot device that you’re using and the connection speed of the area you are in. One of the top-rated recommendations to improve these is by installing an antenna.

To know the average amount of money you earned, you can simply multiply the number of HNTs you mined by Helium’s current price.

So, for example, you managed to mine 10 HNT today, multiply it by $27.01 (the coin’s current value as of February 2022). This means that you made $270 in one day as a helium miner.

If you want to maximize your earnings, then you can offer your services as a helium miner in the crypto field. You can charge your own fees, mine HNTs for you and your client/s. Eventually, you can earn more compared to sticking to regular helium mining.

All in all, you can rest assured that you can make good money as a helium miner. This is as long as you’re willing to dedicate time and effort to the process.

To cash out your money from helium mining, you can simply cash it out from the same crypto market you’re working with. It can be Coinbase, Binance, or any other similarly legitimate platform. You can also use a digital wallet of your choice.

Is Helium Mining Profitable In Australia?

Helium mining is extremely profitable in Australia. It recorded its all-time high in October 2021, which is continuously increasing until 2022.

By the end of 2021, it was reported that Australia has 1,874 Helium hotspots. This is actually enough to prove the high profitability behind the cryptocurrency token in the country. It’s because the more hotspots, the more chances of mining HNTs and thus, higher earnings.

New South Wales is the top HNT miner among the entirety of Australia. According to Helium Act’s statistical reports, more than 700 hotspots are stationed here. It’s about 40% of the country’s hotspots, which means that HNTs are highly prominent in this area.

If you plan on helium mining within the country, then you may want to avoid the Australian Northern Territory. This is most especially if you are working with only one hotspot device.

The reason behind this is that NT only has ten hotspots. This is understandable since the state is significantly smaller with only eight towns. Still, it means that you may be able to mine less HNT here than in other bigger Australian states.

Tasmania and the Australian Capital Territory also have a lower number of hotspots. They have 15 and 25, respectively. Like NT, they also have a smaller state area.

On the positive side, Victoria, Queensland, and South Australia are the three succeeding contributors to HNT-related earnings in the country. Similarly, this means that they also have a significant number of Helium tokens in their areas.

For reference on how profitable Australia’s Helium mining is, Helium Act’s statistics show that as of October 2021, the country had a collective earning of $63,700. In addition to this, Helium Miners Australia also stated that an average mine in Sydney makes around $700 a month.

Is Helium Mining Profitable In UK?

Several UK states are included in Helium’s official top contributing hotspots. This makes the country one of the most profitable in terms of helium mining activities.

In fact, London is currently in second place on Helium’s global hotspot ranks. It has a total of 4,467 hotspots, all of which are earning an average of 8 HNT in a day. This means that daily helium mining earnings in the city will revolve around £600,000.

Business Telegraph, a crypto-focused news website in the UK, foresees that Helium will be a continuously growing cryptocurrency in the country. This is the same with the notable future ties with helium mining, considering that no drastic changes happen in the UK’s economy.

Compared to Australia, you can definitely have higher expectations over UK’s offers in helium mining. It is expected to stay at this level, possibly even improve, even in the future.

Is Helium Mining Profitable In India?

Since the first Helium hotspot in India only happened in mid-2021, it may still be too early to conclude whether Helium mining is profitable in India or not. Helium’s official hotspot leaderboard may also back this up since Uttar Pradesh is the only state in India included in the list. It’s also not included in the top 100.

Despite the significantly late start, Helium is actually priced higher in India compared to the US. As of February 2022, 1 HNT is worth 2,418 INR. This is equivalent to around $30, a few dollars higher than the crypto’s worth in the US.

Apart from the high currency value, there is still little data to come up with the exact number of Helium hotspots in India.

This is the same with the other possible pros, cons, and likes. Probably one of the main reasons behind this is the significantly fewer Helium miners in the country.

Hence, if you’re really interested in keeping up with India’s profitability in Helium mining, you may need to allot some more time for additional research and information.

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