The Easiest Way to Mine Crypto in 2022
Until now mining crypto has been an expensive (albeit profitable) endeavor requiring;
- Costly equipment,
- Difficult to acquire Nvidia/ASIC chips,
- Technical know-how,
- Costly amounts of electricity
In traditional Bitcoin mining, the barriers to entry are high for the normal user. Today, things in the mining world are changing and doors are opening up to just about anyone expressing interest in contributing to a project’s service or offering. This new (low electricity consuming) class of miners have been created to provide world wide services with Low-Power (LP) products, making it easy for dispersed networks to be built and utilized by individuals in private homes and businesses quickly becoming the new darlings of Passive Income.
What are the easiest ways to mine crypto currency in 2022?
- Deeper Networks
- Helium Networks
- PlanetWatch (Awair)
About Deeper Network [$DPR]
The Deeper Network technology uses a worldwide distributed mesh network built using the Polkadot [$DOT] blockchain with a focus on network security, sharing economy and privacy, empowering any internet user. Already onto its 6th generation hardware device called the Deeper Connect Pico, following on the success of the Deeper Mini with over 30,000+ working nodes around the world. The decentralized communications network of Deeper Network will provide a gateway for billions of people into Web 3.0.
- Peer-to-peer
- Next generation of users in a growing web 3.0
- Passive Income
What are Deeper Network’s Use Cases?
- Decentralized Private Network & P2P Bandwidth Sharing
- Decentralized Cyber Security Services preventing network attacks
- Decentralized Gateway Services and dAPP Store introducing internet users to Web3.0.
- Decentralized Web Services preventing the open internet from being controlled or censored by private corporations, governments or institutions with a controlling agenda.
How Do I Mine DPR?
DPR is Deeper Network’s native token. DPR’s value is created from its users’ usage of decentralized services and applications on the network, as well as the incentive to stake and mine $DPR. In order to use a Deeper device to mine you will need to purchase and stake at least 1000 $DPR tokens. See our recent blog post on how to get started staking and mining $DPR tokens and purchase your first Deeper device here.
How much DRP is reserved for mining?
6 billion DPR of which 60% of that is reserved as mining rewards for users of the Deeper Network.
About Helium Network [$HNT]
Helium is a global, distributed network of multiple communication networks. Helium’s hotspots (or gateways) create public, long-range wireless coverage for LoRaWAN-enabled IoT devices, 5G wireless phone and text coverage all on their purpose-built communication Helium blockchain.
What is HNT?
Helium enabled hotspots capture, move and validate data, for that, the owner or host of a hotspot is compensated in $HNT, the native cryptocurrency of the Helium blockchain. The Helium blockchain is a new, open source, public blockchain created entirely to incentivize the creation of physical, decentralized wireless networks. Today, the Helium blockchain, and its hundreds of thousands of hotspots, provide access to the largest LoRaWAN Network in the world as well as a growing 5G mobile network.
What are HNT’s Use Cases?
- Sensor’s — LoRaWAN (branded by Helium as LongFi)
- Text, Phone Calls and Data — 5G
- Community Wide Wifi (coming in 2022)
To manage and trade your earned HNT you’ll want to have Binance, Binance U.S., Crypto.com, Kucoin or FTX PRO account.
How Do I Mine HNT?
Purchase an HNT miner with an understanding that you will want to optimize for the below reward types. Using Hotspotty will help you to find the best location for placement and educate you on how to improve earnings.
About PlanetWatch (Awair) [$PLANETS]
PlanetWatch is working to improve environmental monitoring worldwide and help protect public health utilizing the Algorand [$ALGO]blockchain. They are building the first global, decentralized, permanent air quality ledger. With a veteran team, the project has been leading the way in the environmental monitoring and opening a larger path for others who want to more legitimately utilize carbon credit management on chain.
What are PLANETS?
$PLANETS are utility tokens issued when a sensor sends valid air quality data to PlanetWatch.
How do I Mine PLANETS?
First you must buy a PW Sensor and license. Once your device is setup, data is then past to and recorded on the Algorand blockchain. All sensors streaming valid data earn token rewards.
Today’s network of sensors and made of:
- Individuals who care about the environment (PlanetWatchers)
- Transport companies
- Telecommunications companies
- Local authorities
This mixed approach allows PlanetWatch to rapidly deploy low-cost, high-density air quality monitoring networks which fill a data gap in other government based air quality monitoring networks. PlanetWatch’s current focus is on outdoor air quality but we should see expansion around environmental monitoring in the future related to air quality and related monitoring.
Synopsis of 3 miners highlighted above:
1. Deeper Network mining
- Pros
- Low electricity consumption
- No technical know-how needed
- Worldwide appeal for security and privacy conscious people
- $140 mining devices (Purchase Deeper Connect Pico here)
- Deeper Devices likely deliver quickly — within 30 days
- Potential for significant ROI
- Drawbacks
- Requires purchase and staking of $DPR to mine in a meaningful way
- Registration of the device and staking of tokens can be a learning process
2. Helium Network mining
- Pros
- Low electricity consumption
- No technical know-how needed
- Established network with lots of room to grow worldwide
- $600 (est.) to get started by purchasing hotspot (Buy an HNT miner here)
- Easy setup
- No purchase or staking of $HNT required
- Predictable ROI with enough research using the platform Hottspotty.net
- Drawbacks
- 6 month wait time to receive a miner when ordering direct
- Devices easily knocked offline
- Devices are often relayed limiting earning potential (See how to fix here)
3. PlanetWatch (Awair) Mining
- Pros
- Low electricity consumption
- No technical know-how needed
- Contribute to a better air quality network for all
- An ideal implementation of blockchain for environmental benefit
- $300 (estimated) to get started by purchasing Awair
- Drawbacks
- Niche offering that may have a longer adoption period and smaller market
- Requires licensing of $500+
- 12 week ship times on sensor devices
- May require preferred location
- Unknown ROI earnings over time
While all of the above projects have their pros and cons, it’s not a requirement to choose one token to mine over the other — all can be mined non-competitively. All three of these projects are easy enough to mine if you have the basic ability to follow instructions and troubleshoot when roadblocks occur. I find that Reddit and Discord and been helpful resources when setting up and looking for answers on one-off problems.
