HNT

Overview of HNT

HNT, also known as the Helium Token, is a kind of cryptocurrency that was launched in 2019. This token was founded by Amir Haleem, Sean Carey, and Shawn Fanning. HNT is commonly traded on exchanges such as Binance, Huobi Global, and Bilaxy. It can be stored in various types of wallets, including the Helium Wallet, Trust Wallet, and Ledger. It operates as the native cryptocurrency within the Helium Network, a distributed network for Internet of Things devices.

Pros & Cons

Crypto Wallet

The Helium Walletapp is a tool designed for efficient management of your HNT (Helium Network Token) assets and interaction with the Helium network.

Firstly, the app supports multiple accounts, allowing you to manage up to 10 Helium accounts simultaneously. This feature offers flexibility for various purposes or entities, ensuring seamless organization. Secondly, you can easily keep track of your HNT holdings with the ledger balance feature. It provides a clear and up-to-date overview of your assets, aiding in informed decision-making. Moreover, the address book feature simplifies managing your contacts associated with Helium transactions. It can be downloaded via Apple Store and Google Store.

What Make HNT Unique？

HNT's innovation lies in its focus on the Internet of Things (IoT) industry. Unlike many other cryptocurrencies, HNT is not solely a medium of exchange or store of value. It serves as the native cryptocurrency within the Helium Network, a decentralized, blockchain-based network designed to provide connectivity to IoT devices, such as sensors and trackers.

This key distinction sets HNT apart. The Helium Network incentivizes users to deploy hotspots, which form the public infrastructure, providing not just a blockchain-based network, but also a physical wireless network. HNT tokens are earned in return for providing and validating internet coverage for these devices, creating a unique utility case for the token within the IoT ecosystem.

How does HNT Work？

The working mode of HNT fundamentally differs from traditional cryptocurrencies like Bitcoin. It does not rely on 'mining' in the usual sense, where computational power is used to solve complex mathematical puzzles for block rewards.

Instead, HNT operates on a system called 'Proof-of-Coverage' (PoC). In this system, network participants, also known as 'Hotspots,' earn HNT by providing and validating wireless coverage for Internet of Things (IoT) devices. This creates a two-fold operation where the participants sustain the network by verifying data transmission and in return, earn HNT tokens.

In terms of mining software, it's not about the software but about deploying a hotspot. The hotspot can be thought of as the 'mining equipment.' An individual or business needs to purchase hotspot equipment, install it, and make it available for network use.

As far as processing time is concerned, HNT transactions are processed according to block times on the Helium blockchain, which are typically a few minutes, faster than Bitcoin's 10-minute block time. However, the transaction speed can vary depending on network conditions.

Exchanges to Buy HNT

- Kraken: Kraken is a popular cryptocurrency exchange known for its security, wide range of supported assets, and advanced trading features. With a user-friendly interface and robust regulatory compliance, Kraken is trusted by both beginners and experienced traders alike.

See this link for details on how to buy HNT: https://www.kraken.com/learn/buy-helium-hnt

- KuCoin: KuCoin is a global cryptocurrency exchange that offers a wide range of digital assets for trading. It features advanced trading tools, a user-friendly interface, and competitive fees. KuCoin is also known for its support of innovative blockchain projects and for providing various services like staking and lending.

See this link for details on how to buy HNT: https://www.kucoin.com/how-to-buy/helium

- Binance: Binance is one of the largest and most comprehensive cryptocurrency exchanges in the world. It offers a vast array of trading pairs, including popular cryptocurrencies and altcoins. Binance is known for its advanced trading features, liquidity, and low fees. It also provides additional services such as staking, futures trading, and a launchpad for new token offerings.

- Huobi Global: Huobi Global is a leading cryptocurrency exchange that provides a diverse range of digital asset trading services. It offers spot trading, futures contracts, margin trading, and more. Huobi is known for its liquidity, security features, and global presence. It also offers various investment products and services tailored to different types of traders.

- Bilaxy: Bilaxy is a cryptocurrency exchange platform that focuses on providing access to a wide range of altcoins and tokens. It offers trading pairs for both established and emerging cryptocurrencies, catering to traders interested in exploring new investment opportunities. Bilaxy emphasizes user security and strives to provide a seamless trading experience.

How to Store HNT？

HNT can be stored in various types of digital wallets. These are software applications designed to hold and manage cryptocurrencies and can come in many forms such as online (web), mobile, desktop, hardware, or paper wallets.

1. Helium Wallet: As the native cryptocurrency wallet of HNT, the Helium Wallet offers features designed specifically to manage HNT, including sending, receiving, and earning HNT.

2. Trust Wallet: A secure, multi-cryptocurrency wallet, Trust Wallet, can store a vast array of tokens, including HNT. The mobile application allows for easy access and management of HNT from any location.

3. Ledger: Ledger provides physical hardware wallets, considered some of the safest means of cryptocurrency storage. By supporting HNT, Ledger allows users to store their tokens offline and away from potential online security vulnerabilities.

Is HNT Safe？

The security of HNT (Helium tokens) mining via Hotspots is reinforced by its utilization of radio technology, diverging from the resource-intensive nature of GPU mining. This approach prioritizes efficiency while maintaining robust security measures. Additionally, the integration of identity verification within the app enhances the integrity of one's Helium identity, bolstering trust and safeguarding transactions and interactions across the network.

How to Earn NHT？

NHT, or Nelium, is a cryptocurrency that can be earned through various methods, including:

- Mining: Like many cryptocurrencies, NHT can be mined using computational power to validate transactions on its blockchain network. Miners are rewarded with newly created NHT for their efforts in securing the network.

- Staking: Some cryptocurrencies, including NHT, use a proof-of-stake (PoS) consensus mechanism. In PoS, users can earn rewards by holding their NHT in a designated wallet and participating in the networks consensus process. The more NHT you hold and stake, the higher your chances of earning rewards.

- Trading: Another way to potentially earn NHT is by trading it on cryptocurrency exchanges. By buying NHT at a lower price and selling it at a higher price, traders can profit from the price fluctuations of the cryptocurrency.

- Providing Liquidity: You can earn rewards by providing liquidity to those platforms. This typically involves supplying NHT and another cryptocurrency to a liquidity pool and earning fees from trades that occur using those assets.

FAQs

Question: What wallet options are available for HNT storage？

Answer: HNT can be stored in several wallets such as the Helium Wallet, Trust Wallet, and Ledger.

Question: How does HNT distinguish itself from the majority of cryptocurrencies？

Answer: HNT uniquely operates within the Internet of Things (IoT) field, serving as the primary cryptocurrency for the Helium Network, a decentralized network geared towards IoT devices.

Question: Which platforms support the purchase of HNT？

Answer: HNT can be bought on multiple cryptocurrency exchanges, notably Binance, Huobi Global, Bilaxy and so on.