Helium (HNT) is a blockchain-based network designed for IoT devices, utilizing nodes as Hotspots to connect wireless devices. It uses a unique consensus mechanism called Proof of Coverage, which relies on network participants to ensure stability through mining. The native token, HNT, is used to pay for network operations and can be earned by building and maintaining Hotspots.
Helium (HNT) is the native cryptocurrency of the Helium Network, a decentralized wireless infrastructure designed for the Internet of Things (IoT). Here are the key ways HNT is used:
Data Transfer Payment: HNT is used to pay for data transfer across the Helium Network. Devices send and receive data packets using HNT, which is burned with each data transfer to control the overall supply and incentivize efficient resource allocation.
Network Growth Incentives: HNT acts as a reward system for users who operate Helium Hotspots. These Hotspots extend the network's reach, and their owners are rewarded with HNT tokens for providing wireless coverage. This incentivizes participation and fuels the network's continuous expansion.
Future Governance: HNT is envisioned to play a role in the future governance of the Helium Network. Token holders may eventually have a say in network upgrades and key decision-making processes.
Data Credits Creation: HNT is burned to create Data Credits, which are non-transferrable tokens used to pay for network operations and data transfer via Helium LongFi.
Mining and Staking: HNT can be mined by setting up Helium Hotspots, which provide long-range wireless coverage. Users can also stake HNT to participate in the network and earn rewards.
Overall, HNT is a crucial component of the Helium Network, facilitating data transfer, incentivizing network growth, and enabling decentralized governance and mining.
To store Helium (HNT) tokens, you have several wallet options that offer varying features and security levels. Here are some of the top wallets to consider:
Helium Wallet App: This is the native wallet for HNT, allowing direct HNT-to-crypto swaps, QR-code scanning, and transaction history checks. It supports multiple accounts and has a user-friendly interface.
Ledger (Nano S or X): Ledger wallets offer offline storage of private keys, ensuring high security. They support multiple blockchains, have a user-friendly interface, and are compatible with various operating systems.
Uphold Wallet: Uphold supports various blockchains, allows NFT storage, and provides access to Uphold services. It also supports buying and selling cryptocurrencies, but is not non-custodial and has location restrictions.
Phantom Wallet: Phantom offers competitive token swapping fees, multi-chain support, and NFT storage. It integrates with Ledger and supports transaction previews.
Solflare Wallet: Solflare supports swaps and movement into the Solana ecosystem, with integrated support from Keystone and Ledger. It also has anti-phishing security standards and is compatible with mobile and browser platforms.
Helium Mobile Wallet: This wallet is part of the Helium Mobile subscription and supports tokens on the Solana blockchain, including SOL, HNT, and MOBILE. It allows for token transfers and claims rewards.
When choosing a wallet, consider factors such as security, ease of use, and compatibility with your device and operating system. Ensure the wallet has a good reputation in the crypto community and provides the features you need for managing your HNT tokens.
To buy Helium (HNT) tokens, follow these steps:
Choose a Cryptocurrency Exchange:
- Kriptomat: Create and verify your account, add funds using a bank deposit or credit card, and then select Helium from the list of cryptocurrencies to purchase.
- Uphold: Create a free account, verify your identity, and connect your debit/credit card or bank account. Then, select Helium and confirm your purchase.
- KuCoin: Create a free account, secure and verify your account, add a payment method, and then select Helium to buy.
- Coinbase: Create an account, add a payment method, search for Helium, and then enter the amount you want to buy.
Verify Your Account:
- Verify your email, phone number, and identity to unlock the full potential of the chosen exchange platform.
Add Funds:
- Use a bank deposit, credit card, or debit card to add funds to your account. This will enable you to purchase Helium tokens.
Purchase Helium:
- Select Helium from the list of available cryptocurrencies, enter the amount you want to buy, and confirm your purchase.
Store or Trade:
- Once you have purchased Helium, you can store it in your exchange wallet or trade it for other assets.
