Self-test: Earn money with Helium HNT without working – this is how it (not) works

The promise

You put a helium miner in your home as a hotspot for the helium network, at a location that is as high as possible and with as free a radio field as possible, and cryptocoins in the form of HNT – the cryptocurrency of the helium network – end up in your home as if by themselves Wallet. You sell this HNT on a crypto exchange, so you exchange it for euros. This is what the concept of the helium network looks like from the point of view of the hotspot operator: Earning money without having to work for it. In the social networks and especially on YouTube, people quickly say that helium can earn between 500 and 1500 euros a month. Who could resist?

Here you can buy helium miners/hotspots

Buy Browan MerryIoT Hotspot Helium HNT Miner EU868 MHz

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Buy Sensecap M1 Gateway Helium HNT Miner EU868 LoRaWAN Indoor CE

We start the self-experiment

Earning money without having to lift a finger: That suits our way of life. So let’s just try it out. We will order a Linxdot Hotspot Helium Miner in China at the end of 2021. But instead of living in Cockaigne, it’s time to wait and keep working at pcwelt.de – because our miner shouldn’t arrive until July 2022.

Around July 23, 2022 we finally have our helium miner in our hands. The setup is very easy, the HNT is already rolling. So we have just put our helium miner into operation and are already imagining how we can soon celebrate our resignation as ceremonially as possible. Then we get this message: Trickery with cryptocurrency – Helium HTN advertises with false customers. It’s going well…

It’s all a matter of location

The location of my Linxdot hotspot should be good, I would give it a grade of 2. My miner is in a bright conservatory with large windows, no nearby building is blocking the radio range, I’m in a central location in a big city and the miner is a little over six meters tall. In addition, according to the Helium Explorer, my hotspot is well networked, all parameters are set to “green” and no competition is too close.

The outgoing invoice: High investment costs

But instead of dreaming, arithmetic is the order of the day. Because the dream of easy money begins with an expensive investment: we transfer 463.46 euros to China for the miner. In addition, the power consumption of the Linxdot is actually pleasantly low – it only consumes between 1.1 and 1.3 watts during operation – but this also causes costs. Our current electricity price is 25.46 cents per kWh. With a power consumption of 1.3 watts and a 24-hour/365-day operation, the miner costs us around 2.90 euros per year for the electricity. So in the first year of operation, the year of purchase, we have total costs of around 466 euros. We have to get that in before we can even think about making a profit.

Tip

: If you want to calculate how much money you waste every day, then read How expensive are devices in standby – how to avoid unnecessary electricity costs.

The first earnings

My miner has now (08/02/2022) been active for almost 1.5 weeks. So far I’ve scored an impressive .386 HNT. If I multiply that by the current euro exchange rate of 8.58 euros (as of August 2nd), I get virtual income of 3.32 euros. If I assume a price of 1.40 euros per scoop of ice cream, then I can just about buy a delicious ice cream with 2.4 scoops. Assuming I can find someone to buy the HNT from me. But at least the beginning has been made.

Patience, patience and perseverance

But it’s not all over yet, now it’s time to wait and see. Especially since the price of HNT is very low, like all cryptocurrencies, HNT has also suffered a lot in recent months. But if 1 HNT is worth 40 euros again soon, I could easily afford eleven scoops of ice cream. This prospect makes me continue this long-term test – this article will be updated again and again in the coming months.

Background knowledge and test on helium and HNT

Helium Miner & Cryptocurrency HNT: Earn money without work – that’s how it works

Linxdot Hotspot Helium Miner Test: Set up in no time & earn HNT