Helium Crypto Investment: A Beginner's Guide To Getting Started

Helium (HNT) is a custom-built blockchain and cryptocurrency designed to support Internet of Things (IoT) devices. It is a decentralised, blockchain-powered network that allows low-powered wireless devices to communicate with each other. Helium's parent company points out that connecting to cellular WiFi can be expensive and connecting to a store or business's WiFi can be impractical, so it aims to provide connectivity for IoT-enabled devices. The Helium hot spots provide a long-range form of WiFi called LongFi that reaches 200 times farther than a traditional WiFi hot spot.

Helium is a highly volatile asset capable of major price swings in a single day. As of August 2024, HNT is trading for €4.15.

If you're looking to invest in Helium, you can buy HNT on FTX Exchange and Binance.US. You can also buy it using Coinmerce, Uphold, KuCoin, WazirX, and Coin Insider.

How to buy Helium (HNT) in your country

The process of buying Helium (HNT) in your country will depend on the specific exchange you choose and your country of residence. Here is a step-by-step guide on how to purchase Helium (HNT) in your country:

Step 1: Choose a Cryptocurrency Exchange

First, you need to select a cryptocurrency exchange that offers Helium (HNT). Popular options include Binance, KuCoin, Uphold, Gate.io, and WazirX. Consider factors such as ease of use, payment methods, fees, and availability in your country. For instance, while Binance is available almost everywhere except the US, US citizens must use Binance US, which has more limitations.

Step 2: Create an Account

After choosing your preferred crypto exchange, create a user account. This typically involves providing personal information such as your name, phone number, and email address. Some exchanges may also require additional verification, such as a social security number, driver's license, or passport. In some cases, you may need to identify yourself through a webcam or smartphone.

Step 3: Deposit Funds

Your chosen exchange will either be a crypto-to-crypto exchange or a fiat-to-crypto exchange. With a crypto-to-crypto exchange, you will need to use other cryptocurrencies to acquire Helium (HNT). On the other hand, a fiat-to-crypto exchange allows you to purchase Helium (HNT) directly using fiat currencies.

If you're using a fiat-to-crypto exchange, deposit funds into your account using the supported payment methods, which could include bank deposits, credit/debit cards, wire transfers, or payment services like PayPal or Apple Pay.

Step 4: Buy Helium (HNT)

Once your funds are in place, log in to your crypto exchange account and select your preferred payment method. Then, choose the amount of Helium (HNT) coins you wish to purchase. You can use a coin price tracker to monitor Helium's (HNT) current price and identify the best time to buy.

Step 5: Transfer Your Purchased Helium (HNT) to a Crypto Wallet (Optional)

After buying your Helium (HNT) coins, you can either store them on the exchange or transfer them to a private crypto wallet. Private wallets offer more control over your funds and often provide enhanced security compared to public wallets. Software wallets are convenient, while hardware wallets, such as Ledger or Trezor devices, offer superior security. The Helium wallet app is a good software wallet option for storing HNT.

Important Considerations:

• Fees: Cryptocurrency exchanges and payment providers may charge fees for buying Helium (HNT). These fees can vary depending on the exchange, payment method, location, and market conditions.
• Regulations: Cryptocurrency regulations vary by country. Ensure that you understand the regulations and tax implications, if any, in your country before purchasing Helium (HNT) or any other cryptocurrency.
• Volatility: The cryptocurrency market is highly volatile. Always assess the risks and invest only what you can afford to lose.

How to set up an account on an exchange

To set up an account on an exchange, you'll need to follow a few steps. Firstly, find an exchange that supports Helium (HNT) such as Uphold, KuCoin, WazirX, Binance.US, or FTX Exchange. Once you've chosen an exchange, visit its website and look for a "Sign-Up" or "Register" button, usually located in the upper right-hand corner.

Click on this button and follow the on-screen instructions, providing the necessary information. This typically includes your email address, date of birth, and country of residence. You may also need to verify your phone number and email address. Additionally, if you're a U.S. resident, you'll need to provide your Social Security number and a photo of your identification, as per SEC regulations.

After completing the sign-up process, you may need to add a payment method for deposits and withdrawals. Depending on the exchange and the level of your engagement, you might also need to go through a "Know Your Client" (KYC) process, which involves identity verification. This could include providing additional information such as your address, phone number, and government-issued identification.

Once your account is set up, you can link your bank account to the exchange and fund your account. From there, you can find the Helium page on the exchange and place an order. You usually have the option of placing a market order or a limit order. A market order will be filled at the lowest current ask price, while a limit order allows you to specify the price and quantity you're willing to buy or sell at.

How to transfer your HNT to a personal wallet

To transfer your HNT to a personal wallet, follow these steps:

• Navigate to the "Wallet" page from the bottom menu of the Helium Mobile app.
• Tap the "Transfer" tab.
• Select the HNT token you'd like to transfer.
• Enter the amount you'd like to transfer. (This amount must be less than or equal to the balance in your wallet).
• Enter the wallet address you'd like to send the tokens to. A wallet address is a unique string of numbers and letters that identifies a wallet. You can find your wallet address in the "Me" tab in Settings.
• Select "Send Payment" to initiate the transaction.

Please make sure you are sending the tokens to the correct wallet address. Once you tap "Send Payment", the action cannot be undone.

• Get the Helium Mobile wallet address at the bottom of the "Me" tab labelled "Solana Address". Tapping on the address field will copy your wallet address to your phone's clipboard.
• Some exchanges that support the transfer of HNT tokens include Binance US, Coinbase, Gemini, and Kraken.
• If you encounter an "Insufficient Funds" error when transferring tokens out of your Helium Mobile wallet, you may need to obtain some SOL, the native token of the Solana Network, to cover the cost of the transfer transaction.
• Always practice caution when dealing with cryptocurrency. Do not share your wallet information or recovery phrases with anyone, and avoid clicking on suspicious links.

How to stake HNT

Staking HNT tokens can be a great way to earn rewards and make the most of your Helium cryptocurrency. Here is a guide on how to stake HNT:

Choosing a Staking Platform

Firstly, you need to choose a staking platform. There are several options available, each with its own pros and cons. For example, you can use a staking pool like helium-staking.com, which offers an easy-to-use interface and free sign-up. Alternatively, you can use a staking service like StakeJoy, which is a non-custodial full-validation service. They charge a 3% flat fee of any earnings, and you will need 10,000 HNT per validator. Another option is to use a cryptocurrency exchange like Binance, which offers HNT staking with competitive APY.

Setting Up an Account

Once you have chosen your preferred platform, you will need to set up an account. This usually involves providing some personal information and creating a secure password. Make sure to do your research and only use trusted platforms to avoid potential scams or security risks.

Purchasing HNT Tokens

Before you can start staking, you will need to purchase HNT tokens. You can do this directly on some staking platforms, or through a cryptocurrency exchange. Be mindful of any fees associated with purchasing cryptocurrencies, such as transaction fees or exchange rates.

Staking your HNT

Now, you can begin the staking process. This will vary depending on your chosen platform, but it usually involves transferring your HNT tokens to a designated staking wallet or pool. Make sure you understand the terms and conditions of staking, including any lock-up periods, minimum staking amounts, and fees.

Earning Rewards

Once your HNT tokens are staked, you can start earning rewards! The rewards are typically generated through the validation process, where your staked tokens help secure the Helium blockchain. These rewards are often paid out in HNT, which can increase your holdings over time. Remember to keep an eye on your staking dashboard or wallet to track your earnings and the performance of your staked tokens.

Unstaking and Redeeming

Finally, when you are ready to unstake your HNT tokens, follow the platform's instructions for unstaking and redeeming your rewards. There may be specific requirements or time frames to consider, so be sure to review the details before initiating the unstaking process.

Remember, staking comes with risks, including potential losses due to market volatility or platform-specific issues. Always do your own research and only stake what you can afford to lose.

How to sell or convert your HNT

Selling or converting your HNT can be done in a few ways. Here is a step-by-step guide on how to do it:

Using Crypto.com — Crypto.com is a popular exchange that supports HNT trading. To send or receive HNT to or from your Crypto.com wallet, follow these steps:

• Open your Crypto app and tap on "TRANSFER".
• Select "DEPOSIT" and then "CRYPTO".
• Search for "HNT" and select it.
• You will now get your QR code and wallet address to send or deposit your HNT from the Helium app.

Transferring from the Helium app to Crypto.com wallet — To transfer your HNT from the Helium app to your Crypto.com wallet:

• Open your Helium APP.
• Tap on your "WALLET" icon.
• Select the option to "SEND HNT".
• Enter the wallet address you retrieved from the Crypto.com app, the amount of HNT you would like to send, and leave the "MEMO" field empty.
• Confirm that you want to send HNT tokens.

• Using Binance.us — Binance.us is another exchange that supports HNT trading. However, users have reported issues with deposits and withdrawals on this platform.
• Using a Hardware Wallet — If you're investing in Helium for the long term, consider storing your HNT in a secure hardware wallet like the Ledger Nano X. This option gives you total control over your funds.
• Using a Software Wallet — If you're actively trading HNT, consider using a software wallet like the Helium App for quick access to your funds as the market moves.
• Converting to Solana — If you're unable to sell your HNT directly, you can try converting it to another cryptocurrency, such as Solana, and then transferring it to an exchange that supports that cryptocurrency for selling.
• Using CDC — According to a user on Reddit, you can sell HNT on CDC (presumably the Crypto.com app) to fiat or other cryptocurrencies.

It's important to remember that the availability and reliability of these options may vary over time, and it's always a good idea to do your own research and proceed with caution when dealing with cryptocurrencies.

Frequently asked questions