Start-Up: Under $200
Income: $10 – $200+/mo
Outsource: Purchase “Hotspot”
You already know Amazon’s Alexa and Ring Doorbell are connected to your home internet, but what about other items such as GPS luggage tags, dog collars, and vehicle trackers? Billions of devices or things need to be connected to the internet. Internet of Things (IoT) refers to those Internet-connected items which can collect and transfer data over a wireless network.
Many think cellular is the solution, but it is not viable because it is expensive and has limited availability. Aiding these devices to connect to the Internet allows you to help and make money simultaneously.
Helium Mining utilizes “hotspots” to provide and validate wireless coverage and transfer device data over the network to start mining Helium (HNT). So you set up a Helium-approved device in your home or office, and you can provide your city with miles of low-power network coverage, which uses less than 2% bandwidth, and you earn the crypto Helium (HNT) as an incentive.
As of July 2022, there are over 100,000 hotspots throughout the world. The location and number of neighboring hotspots in your area can significantly affect your income. Before buying an authorized hotspot, visit Helium.com and look up your location to see how much you could generate and the number of other hotspots in your area.
A hotspot generally costs about $129 – $500, which is reasonable considering your potential return on investment (ROI). One Hotspot should generate about $1–50 daily in passive income. Even at $1 a day, the Hotspot may take a few months to pay for itself, but it is typically much sooner. Electricity consumption on the low-wattage device amounts to about $1 per month.
Even better, you can set up multiple hotspots (just not two at the exact location), which brings higher revenue. Vendors such as HotspotRF can help you optimize your hotspot placement(s) by modeling radio frequency (RF) and overlaying it with helium hotspot data. In other words, they can help you choose the best locations for your hotspots regarding coverage and Helium (HNT) earnings potential.
Like virtually any money-making opportunity, there are plenty of scammers. I have seen several fake and utterly worthless hotspots for sale on eBay. Because you will need a specific mining machine, you should only purchase one among those listed on Helium.com to be safe.!
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