The Helium (HNT-USD) network is one of the most highly regarded of Web 3.0 players. Indeed, the project combines blockchain technology and hardware in a way other networks don’t. And now, it looks like the HNT crypto stands to gain further. A new company is cropping up, aiming to make joining the Helium community easier than ever before, called HeliumRent.
To get a better understanding of HeliumRent, one must first understand the inner workings of Helium. Helium is a Web 3.0 project that seeks to decentralize wireless internet access. It does this with its own line of hot spot devices, which double as HNT crypto mining modules. Users can buy these devices and very easily set them up in a home office. From there, other users can connect to the device and use its wireless internet. Those that provide the signal receive HNT rewards for doing so, allowing one to generate passive income.
Helium promises one of the best alternatives to traditional internet service providers (ISPs); it promises signals that reach twice as far as traditional WiFi. Moreover, it promises prices far lower than those afforded by those ISPs, and a coverage map that competes with even the most robust networks.
HeliumRent Allows Users to Mint HNT Crypto Without Shelling Out on Devices
One of the biggest drawbacks of the Helium network is that the hardware required to mine HNT crypto can be quite pricey. Hot spots compatible with the network cost hundreds of dollars at the very cheapest. And of course, if you’re looking for high performance and faster mining, the costs tends to be much higher still. This opens the door for HeliumRent to come in and provide broader access to the network.
However, the HeliumRent name can be quite confusing, since users are not renting the devices themselves but rather a share of the computing power of a hotspot. Users pay for one of four different plans, all equaling different percentage shares of a device’s rewards. These plans allot somewhere between 1% to 2.5% of the rewards generated by hotspots. Rental periods last 180 days.
Ultimately, the launch of a company like HeliumRent is a bullish indicator for the HNT crypto at large. It allows more users to gain exposure, and it can certainly lead to a broader network by incentivizing the deployment of more hot spots devices either by the company or by users who want higher returns than they might get through renting.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.