How to Buy Helium on CEX.IO

To purchase Helium (HNT) on CEX.IO, follow these straightforward steps:

1. Create an account: Visit the CEX.IO website and sign up for a new account by providing the required information.
2. Verify your identity: Complete the KYC process by submitting identification documents as specified by the platform.
3. Deposit funds: Add funds to your account using available payment methods, such as bank transfers, credit or debit cards, and other cryptocurrencies.
4. Search for Helium: Navigate to the trading section and locate Helium (HNT) within the asset listings.
5. Place an order: Choose either a market or limit order, enter the amount you wish to purchase, and confirm the transaction.
6. Store your HNT: After the purchase, transfer your Helium tokens to a secure wallet for safekeeping.

What is Helium?

Helium is a cryptocurrency that operates within its own blockchain network, distinctively focusing on decentralised wireless communication. More specifically, it aims to create a more efficient way for Internet of Things (IoT) devices to connect to the internet. Its primary role is to incentivise individuals to deploy low-power devices that help expand the network.

How Does Helium Work?

The Helium blockchain utilises a unique proof-of-coverage mechanism, which validates participants' contributions to the network. This consensus method encourages users to set up "Hotspots," which are wireless nodes providing coverage for IoT devices in exchange for HNT tokens. The infrastructure built by individual users allows for a comprehensive, cost-effective wireless network, promoting scalability and reliability. Notably, Hotspots not only empower the Helium network but also create a collaborative environment, fostering a community of users committed to expanding and improving the service. The innovative use of LongFi technology combines LoRaWAN for long-range and low-power connectivity with blockchain.

Utility and Use Cases

Helium's primary focus is on supporting IoT devices, which require low-bandwidth connectivity. Use cases include smart city applications, environmental monitoring, asset tracking, and agriculture automation. The decentralised nature of the network lowers costs associated with data transmission, enabling more devices to connect affordably. Additionally, through staking and validating transactions, users can earn rewards, further incentivising participation in the network. Helium aims to democratise connectivity by enabling individuals to profit from providing coverage, thus promoting practical applications for everyday technologies.

Facts about Helium

Several distinct features set Helium apart in the cryptocurrency landscape. The project has established partnerships with various enterprises looking to deploy IoT solutions, such as Nestle and Lime. A significant milestone occurred in 2020 when Helium launched the first version of its long-range network, expanding its reach significantly. Helium has also received funding from notable investors, enhancing its credibility within the market. The rising number of Hotspots, which exceeded 600,000 by late 2021, attests to the utility and demand for the service. In summary, Helium is more than just a cryptocurrency; it represents an innovative approach to IoT connectivity. Its community-driven model not only benefits individual users but also supports broader technological advancements. Utilising blockchain for extensive, affordable coverage, Helium showcases the potential for decentralised solutions in various applications. As more users join the network, its significance in the evolving landscape of technology will likely increase, making it an interesting project for those exploring cryptocurrencies and IoT.