I’ve previously written about Helium (HNT) mining and a bit about trading. Once you’ve mined your crypto, an important step for a lot of miners is how to best utilize that crypto, beyond HODLing in your Helium Wallet.
I used to use Crypto.com primarily for my HNT trading. It worked well especially when prices were rising in late 2021. My typical pathway was to trade HNT for BTC and then optimize around high BTC prices for exchanging into Fiat US Dollars. In the beginning, I used this method to first cash out enough to pay back my initial investment in the routers/miners and their added antennas I bought. Then I cashed out enough to buy a small piece of land in the Mojave Desert that I am using for some land-use experiments. And then I started to just save in BTC with the thought that it would provide more stability than HNT, which has really proved to be true. BTC has had a 66% decline from its peak, and HNT has had a 95% decline from its peak, both in November 2021 all in US Dollar terms.
Personally, I’m glad I took out a lot of US Dollars with an average HNT sell price in the high $30 range. Since January 2022 I’ve mostly been saving in BTC or playing around with altcoins and DeFi with Helium earnings. This is recommended for many miners as it allows you to diversify in some highly speculative asset classes with “free cash flow”, all assuming you have…
