It’s well past time to cut back on household expenses so we can pay down bad debt and raise cash. Our current cellular phone bill is just over $150 per month or $1,800 per year. Shifting between standard cellular carriers only offers a small amount of relief. And sometimes you have to put up with a substandard network to move away from those main carriers. There are other headaches too such as contractual requirements, cancellation fees, network fees, etc. Enter a growing, decentralized solution from Helium Mobile built on the Solana blockchain.
*I am not sponsored or endorsed by Helium Mobile and I am not attesting to service in your locale. Ultimately it’s up to you to do your own due diligence when deciding on a cellular phone plan
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What is Helium?
Helium began as a decentralized IoT network. Essentially, the goal was to disrupt the Internet of Things (IoT) network carriers by allowing individuals to purchase miners that operate as hotspots and hook into their home internet connection. This meant you no longer needed private networks of towers/antennas to connect IoT devices to such as GPS trackers. Where available, the independently owned miners/nodes created a network of its own with the individual owners earning rewards for maintaining their little piece of the network.
Helium IoT is the coin/token that is generated and awarded to folks that setup a miner/node on their property. I have been running an IoT node for a short time using a Bobcat 300 miner. There is a small amount of profit from doing this but the rewards have dropped dramatically over time because Helium has shifted its focus to 5G and Cellular/Data hotspots. The IoT network is still up and running and may become a focus again in the future from Helium. However, it served as a proof of concept and Helium has shifted to disrupting an even bigger industry, cell phone networks.
Helium Mobile
Helium Mobile is being built out the same way the IoT network was (and kind of continues to be). Indoor and Outdoor hotspots are purchased by folks that want to mine MOBILE tokens. These miners create a network that cell phones can connect to for voice and data. https://hellohelium.com/build
In addition to earning for mining, Helium mobile customers can earn MOBILE by giving access to their location data. This data helps Helium target areas to focus on building out the network. Keep in mind that this data is somewhat encrypted so it tracks your phone connection but doesn’t specifically tie it back to you as an individual. Here’s the kicker! They added T-Mobile as a partner to offer coverage in areas where the network isn’t robust or not built out yet. This means you get access to a major carrier network wherever Helium isn’t operating.
What does this all cost you may ask. Each phone gets unlimited talk and data for $20 per month without any long-term commitment. When you add in the potential earnings from MOBILE tokens when allowing the network to track your connection, you can actually make more than it costs!
Find out more here: https://hellohelium.com/
You also have the option to operate an indoor/outdoor miner to help build the network and earn even more. I intend to use my IOT and MOBILE tokens earned each month to dollar cost average into Solana (SOL). This is the layer one coin that the Helium system is built off of.
What is Solana (SOL)?
SOL is a layer 1 coin. The way you can think of it is Solana provides the blockchain that is the backbone for an entire ecosystem of applications to operate off of. SOL is the coin that is generated from new blocks being added to the Solana blockchain and proofed by miners. The applications that are built on this backbone use the blocks in the chain to complete other operations and generate their own coins/tokens. In this respect, Helium’s tokens (HNT, IOT, MOBILE, etc) are built on top of SOL and would be called layer 2. This means the Helium tokens are easily convertible back and forth with SOL.
I have yet to get into this yet but I will expound on a diversified crypto portfolio in future posts. Currently, my focus is in building my holdings in BTC, ETH, HIVE, XMR, ARRR, and now SOL. Another ecosystem I have yet to do much with is Avalanche (AVAX). The beauty of this move to Helium Mobile is I am reducing my costs and at the same time building an investment that doesn’t require very much of a drain on my cash flow every month. In fact, it’s actually an improvement in my monthly cash flow as it cuts down on my expenses.
*Get something out of this article? Awesome! Please let me know in the comments, and feel free to share this post with your friends. It would help a lot!
***Keep in mind that investment and investment results are very much based on you as an individual. I am not an investment advisor. I’m a dude with an opinion. Do not rely solely on the discussion here to inform your investment decisions. Always make the investment decisions that are right for you and your situation.