How to Buy Helium (HNT)

Beginner’s Guide

What Is Helium (HNT)?

Helium (HNT) is a cryptocurrency that operates on a decentralized blockchain network known as the Helium Network. It was launched in 2019 and is designed to facilitate machine-to-machine communication, with a particular focus on the Internet of Things (IoT).

The Helium Network is a wireless network that uses low-power, long-range radio waves to enable devices to connect and communicate with each other. HNT is the native cryptocurrency of the Helium Network and is used to incentivize users to participate in the network by providing coverage and relaying data. Users can earn HNT by running a Helium Hotspot, which is a device that provides wireless coverage to the network.

HNT is used for a variety of purposes on the Helium Network, including paying for transaction fees, accessing network services, and participating in the network’s consensus mechanism. It can also be traded on various cryptocurrency exchanges and is considered by some investors to be a promising investment due to its potential role in the rapidly expanding IoT market.

Helium’s goal is to prepare IoT communication for the future, identifying inadequacies in current infrastructure from its birth in 2013.

How to Buy Helium Summary

Get a Helium wallet (e.g. Ledger, Trezor , Exodus, Guarda, AtomicWallet)
Find an exchange that sells Helium (e.g. Crypto.com, Binance, Bybit, Gate , Kucoin)
Deposit money and make the trade
Withdraw the Helium to your wallet

Buying Helium in 3 Simple Steps

Desctop & Mobile

Helium Hardware Wallets

Helium (HNT) can be stored in a hardware wallet, which is a physical device that provides a high level of security for your cryptocurrency holdings. Hardware wallets are designed to keep your private keys offline, which makes them more secure than software wallets.

Here are some of the hardware wallets that support Helium (HNT):

Ledger Nano S and Nano X: These are two of the most popular hardware wallets on the market, and both support Helium (HNT). They are easy to use and offer a high level of security.
Trezor Model T: The Trezor Model T is another popular hardware wallet that supports Helium (HNT). It features a large color touchscreen and supports a wide range of cryptocurrencies.
Trust Wallet: Trust Wallet is a mobile wallet that also supports Helium (HNT). It is available for both iOS and Android devices and offers a simple and user-friendly interface.

It’s important to note that while hardware wallets provide a high level of security, they can be expensive and may not be necessary for smaller HNT holdings. Software wallets, which are free and can be downloaded onto your computer or smartphone, are a good option for those who are just starting out with cryptocurrency. Regardless of the type of wallet you choose, it’s important to keep your private keys safe and secure to prevent unauthorized access to your funds.

The best option for storing any cryptocurrency would be to use a hardware wallet. These are pieces of hardware that store the private key to your coins offline.

Today, there are two leading hardware manufacturers to choose from – Ledger and TREZOR. Both companies have different models of hardware wallets that will get the job done.

If you want deeper insights on specific models, you can read my Ledger Nano X review or my TREZOR Model T review.

Helium Software Wallets

Helium (HNT) can also be stored in a software wallet, which is a digital wallet that can be downloaded onto your computer or smartphone. Software wallets are typically free and easy to use, making them a good option for those who are just starting out with cryptocurrency.

Here are some of the software wallets that support Helium (HNT):

MyHbarWallet: MyHbarWallet is a web-based wallet that also supports Helium (HNT). It allows users to securely store and manage their HNT holdings and offers a user-friendly interface.
Atomic Wallet: Atomic Wallet is a multi-cryptocurrency wallet that supports Helium (HNT) and a wide range of other digital assets. It is available for Windows, Mac, Linux, Android, and iOS devices.
Exodus Wallet: Exodus is a desktop and mobile wallet that also supports Helium (HNT). It offers a simple and intuitive interface and allows users to manage multiple cryptocurrencies in one place.
Ledger Live: Ledger Live is a software wallet provided by Ledger, the hardware wallet manufacturer. It supports Helium (HNT) and other cryptocurrencies and is available for Windows, Mac, and Linux.

When using a software wallet, it’s important to keep your private keys safe and secure to prevent unauthorized access to your funds. This can be done by choosing a strong password and enabling two-factor authentication (2FA) if available.

Hardware wallets cost money, so if you’re not sure how serious you are about cryptocurrencies and just want to get a taste of what they feel like, perhaps you would be better off starting with a software wallet.

Payment methods:

Credit/debit card

Wire

Buy Helium through Crypto.com

Crypto.com is a cryptocurrency exchange company based in Singapore. As of May 2022, the company reportedly had 50 million customers and 4,000 employees. The exchange issues a token, Cronos. The company was initially founded in Hong Kong by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo in 2016 as “Monaco”. In 2018, the company was renamed as Crypto.com following a purchase of a domain owned by cryptography researcher and professor Matt Blaze. Domain sellers valued the domain at US$5–10 million.

Buy Helium through Binance

Binance is a cryptocurrency exchange which is the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.

Buy Helium through Bybit

The exchange prides itself on delivering multilingual online support to its customers and is committed to providing a transparent and efficient trading experience. The products on the platform include BTC/USD, ETH/USD, LTC/USD, and XRP/USD perpetual contracts. A perpetual contract resembles a traditional futures contract in many ways. Its main difference, however, is that it doesn’t have an expiry date. Hence, traders are allowed to hold their positions for as long as they need to. Moreover, the exchange boasts a 100,000 TPS state-of-the-art matching engine. While many of its competitors have suffered from repeated overload problems, this high-performance matching engine makes it possible for Bybit to stand above the competition. The Bybit cryptocurrency broker platform is operated by the Bybit Fintech Limited which is registered on the British Virgin Islands, with headquarters in Singapore. The company was launched in March 2018, making it a fairly young player on the market.

Buy Helium through Gate.io

Gate.io is a crypto exchange founded in the fall of 2017. The platform is a part of Gate Technology Inc corporation, and has a registration address in Virginia, USA. The platform does not have an official license. Its interface is available for working in three versions: English, Chinese and Japanese.

Buy Helium through Kucoin

Kucoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 8 million registered users from 700+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique ranking is in the top 5 globally. Known as the “People’s Exchange”, KuCoin operates in Seychelles, providing users with multi-language and 24/7 customer service. Meanwhile, KuCoin has established local communities all over the world in South Korea, Japan, Spain, Italy, Vietnam, Turkey, Russia, India, and other regions, providing users with the most local services. Currently, 1 out of every 4 crypto holders in the world is with KuCoin.

Step 3 – Withdraw Your Helium

Once you decide on an exchange, open an account and buy your Helium . Make sure to withdraw the Helium from the exchange to your personal wallet.

Never leave coins on an exchange, as you risk losing them all if that exchange gets hacked or shuts down (which has happened in the past) and always double check address before send coins because you can send the coins to wrong address .

Overview

Who Are The Founders Of Helium?

Helium’s three co-founders Amir Haleem, Shawn Fanning and Sean Carey started the company in 2013.

Haleem has an active eSports and game development background. Fanning, by contrast, is well known for developing Napster, the music sharing service which was one of the first mainstream peer-to-peer (P2P) internet services in the late 1990s.

Carey meanwhile held multiple development roles prior to Helium, which included advertising optimization firm Where, acquired by PayPal.

Helium’s team now consists of members which the company says have experience in “radio and hardware, manufacturing, distributed systems, peer-to-peer and blockchain technologies.”

What Makes Helium Unique?

Helium (HNT) is unique for several reasons:

Decentralized wireless network: The Helium Network is a decentralized wireless network that enables devices to communicate with each other over long distances. It operates on a proof-of-stake consensus mechanism and is designed to be more efficient and cost-effective than traditional wireless networks.
Incentivized network participation: The Helium Network incentivizes users to participate by providing HNT as a reward for providing coverage and relaying data. This creates a self-sustaining network that is constantly growing and expanding.
Internet of Things (IoT) focus: Helium is designed specifically for the Internet of Things (IoT) market, which is expected to grow rapidly in the coming years. It provides a secure and efficient way for IoT devices to connect and communicate with each other, which could have far-reaching implications for industries such as healthcare, transportation, and agriculture.
Energy-efficient: The Helium Network uses low-power, long-range radio waves to enable devices to connect and communicate with each other. This makes it more energy-efficient than traditional wireless networks, which is important for reducing the carbon footprint of the IoT industry.
Community-driven development: The development of the Helium Network is driven by a passionate and dedicated community of developers and enthusiasts. This has helped to create a strong and vibrant ecosystem that is constantly evolving and improving.

Overall, Helium is a unique cryptocurrency that has the potential to disrupt the IoT industry and create new opportunities for innovation and growth. Its focus on decentralization, incentivized network participation, and energy efficiency sets it apart from other cryptocurrencies and makes it an exciting project to watch.

How Many Helium (HNT) Coins Are There in Circulation?

Approximate mining periods of 30 to 60 minutes unlock rewards which are distributed according to a changing growth plan.

Helium explains that at the start, node owners will accrue more HNT for building out network infrastructure, while later on, it will be more advantageous to transfer device data. This adjustment mechanism for token distribution is expected to last for around 20 years.

As of the start of October 2020, there are 48,712,218 HNT in circulation. When the token launched, the supply was zero, with no premine.

How Is the Helium Network Secured?

Helium uses a bespoke consensus mechanism called proof-of-coverage (PoC) which rewards users for contributing to mining (validating transactions) and ensuring stability.

PoC is based on the HoneyBadger BFT protocol, which is specifically designed for node communication when conditions are unreliable.

Helium says that the most likely attack vector impacts node operators in the form of inbound ports of Hotspots. For token holders, the platform’s own wallet uses asymmetric keys to help users with private key security.

Where Can You Buy Helium (HNT)?

Helium (HNT) can be purchased on several cryptocurrency exchanges. Here are some of the most popular exchanges where you can buy HNT:

Binance: Binance is one of the largest cryptocurrency exchanges in the world and supports the trading of Helium (HNT). You can purchase HNT with a variety of cryptocurrencies or with fiat currency using a bank transfer or credit/debit card.
Kraken: Kraken is another popular cryptocurrency exchange that supports HNT trading. You can purchase HNT with Bitcoin (BTC), Ethereum (ETH), or USD.
Huobi: Huobi is a global cryptocurrency exchange that supports the trading of Helium (HNT) with several cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
BitMax: BitMax is a cryptocurrency exchange that also supports the trading of Helium (HNT). You can purchase HNT with USDT, Bitcoin (BTC), and Ethereum (ETH).
Bittrex: Bittrex is a US-based cryptocurrency exchange that supports the trading of Helium (HNT) with Bitcoin (BTC) and Tether (USDT).

It’s important to note that not all cryptocurrency exchanges support HNT trading, and the availability of HNT may vary depending on your location. Additionally, it’s important to do your own research and choose a reputable exchange that provides a high level of security for your funds.