When you think of those who’ve “made it” in crypto, who typically comes to mind? Venture capitalists? Early-stage investors? Inside traders? Influencers? It’s a far cry from the fair launch days when people mined bitcoin at home on their laptops.
So what are people left to do? Buy doggy memecoins and pray the dev won’t rug?
DePIN Changes This
Mining crypto directly from the source still remains one of the best ways to build a crypto portfolio. And while Bitcoin mining’s industrial scale prices most people out of the game, the emerging DePIN sector offers hobby miners an entirely new and interesting way to earn. This is because miners aren’t only rewarded for supporting their network of choice but because the hardware devices often play a direct role in a larger solution.
DePIN involves a physical commitment that separates the speculators from the people who are willing to make a change. The key to this process are the finely tuned reward systems that pay users for their efforts; flywheel systems that often allow for a quick return on investment. It may sound complicated, but the truth is that there are many DePIN projects you can contribute to and earn rewards from without even changing your daily routines.
Check out these 5 devices you can order today to get a head start in DePIN.
1. WeatherXM: It’s Raining Tokens
Have you ever stood next to a friend, looked at your weather app and got an entirely different forecast from theirs? You’re not the only one! The weather is often unpredictable, but the differences in reporting can be even worse.
WeatherXM aims to solve this issue by massively increasing the number of data collection points around the world. By tapping into a large dataset of user contributions, hyper-localized weather reporting becomes a reality.
Users can contribute to WeatherXM’s decentralized weather network by installing and connecting specialized weather stations. These stations double up as token miners, rewarding their owners in WeatherXM’s $WXM token.
There are multiple WeatherXM products on offer, including the $400 Weather XM WB1200 that’s currently available for pre-order. This particular model connects over WiFi, but other models in their lineup offer connectivity through LoRaWAN and 4G-LTE.
So is this the DePIN device for you? It’s worth taking into consideration that you’ll need to mount this device outside, so it might be better suited to homeowners than people renting apartments. But besides that, contributing to more accurate weather reporting is a noble cause we can all get behind!
Head over to the WeatherXM Docs to learn more about this DePIN device.
2. GEODNET: Mine the Sky
By the time satellite data hits the surface of our planet, the accuracy of the information can be affected by various elements, most notably by solar winds. GEODNET aims to improve the accuracy of satellite navigation through its globally decentralized, real-time kinematic (RTK) network.
RTK networks serve as a way to correct the data stream, bringing results down to centimetre level precision. When you consider the advances being made in self-driving vehicles, drone deliveries, automatic farming, smart mowers, and the like, the potential of subscription-based services that increase satellite positioning is massive.
A GEODNET mining set typically consists of a base station and an antenna, as well as the necessary cabling to connect the 2 units. The equipment works with the 4 core global navigation satellite systems: GPS (US), Galileo (Europe), GLONASS (Russia), and BeiDou (China).
GEODNET lists multiple distributors where you can purchase the equipment from. Hyfix.ai, the manufacturer of the gear, lists a full set including base station, antenna, cables and mounting brackets for $695.
Owners of GEODNET miners receive $GEOD tokens. It’s worth taking a look at the GEODNET console map as there are currently plenty of SuperHexes in strategic regions that offer multipliers on top of the base rewards.
Is this the DePIN device for you? At $695 a set, this is the most expensive model in today’s list, and like the WeatherXM station, requires an outdoor setup. On the flip side, the growing autonomous device market will depend more and more on RTK solutions, so the potential for upside is well worth considering.
Read up on RTK and the mining basics on the GEODNET Documents website.
3. Hivemapper: Map the World
How many times have you looked up Google Street View only to see a picture that’s 5 or even 10 years old? What if Google Maps could be given a run for their money? That’s exactly what Hivemapper has set out to achieve.
Instead of paying for a fleet of expensive cars and full-time drivers, Hivemapper instead turns to the people who are already out on the road each and every day. By incentivizing map coverage through token-mining dashcams, Hivemapper has quickly grown an enthusiastic community of decentralized mappers. Their latest statistics show that they’ve mapped over 20% of the world’s 60M Km of roads.
Hivemapper achieves this through its specialized dashcams. They currently promote their newest Bee model, listed at $489 and which you can pre-order directly on their site. This model collects the data internally and uploads to WiFi when available. For $100 more, a model with cellular LTE connectivity can streamline the process.
For privacy-conscious readers, special features are built into the product, such as image blurring and restrictions on the collection of personally identifiable data. The code is, of course, open-source and can be inspected on GitHub.
Users who contribute to the mapping network can receive $HONEY tokens as rewards.
So, is this the one for you? If you don’t drive a car, probably not. But considering how many people do drive cars, this device is sure to be a big hit, especially for professional drivers who are out on the road multiple hours a day.
Dive into the Hivemapper Docs to learn more about decentralized mapping.
4. Wicrypt: Share Your Internet Bandwidth
It’s an unfortunate truth that much of the world still lacks basic internet connectivity, especially in parts of the developing world that could benefit the most from coming online. Wicrypt is a Nigerian startup that’s tackling this issue head-on.
Wicrypt enables owners of its WiFi hotspots to share access to their internet bandwidth while rewarding them with $WNT tokens. The hotspots are powerful, high-capacity devices and even have SIM card slots that offer flexible connectivity solutions.
Besides providing internet access, owners of the hotspots can unlock additional income streams through advertisement banners that are displayed to users connected to their devices.
The Wicrypt SPIDER costs $299.99 and can offer connectivity to as many as 70 concurrent customers. Whether you’re in a quiet rural area or a bustling metropolis, this access point is a perfect addition to commercial areas like cafes, bars, restaurants, and community centers.
Is this the DePIN device for you? It’s a simple solution to a very large issue. If internet access is a problem in your area, then why not help out and earn something for your contribution?
Read up on Wicrypt’s vision on their dynamic whitepaper website.
5. DIMO: Own Your Car Data
Love ‘em or hate ‘em, smartphone apps have forever changed the way we live, eat, work, sleep, play, and many other things in between. This technical shift has been made possible thanks to the open app marketplaces that enable developers to provide products and solutions to pretty much any modern phone user. If only it were the same in the car industry…
Our cars are getting smarter by the day, and a tremendous amount of useful data is being generated under the hood. But unlike the world of smartphone applications, this data typically gets locked inside the walled gardens of each specific car manufacturer.
DIMO fixes this with a simple plug-and-play device. The DIMO Macaron connects to car models dating as far back as 2008. Simply plug it into the OBD2 port (usually located near the steering wheel), and you’ve unlocked the wealth of data that’s hidden in your car.
In doing so, car owners themselves are laying the foundation for a new and exciting open application marketplace for the automotive sector.
The small form factor Macaron retails at $99, and syncing it regularly with the DIMO network enables drivers to earn $DIMO rewards.
Is this the device for you? At $99 a piece, this plug-and-play model is ultra-affordable and offers one of the quickest and easiest ways to get into DePIN today.
Start your journey on the DriveDIMO website.
Bonus: Your Smartphone
Yes, that’s right, you can already earn some crypto tokens with the handy tool in your pocket. There are plenty of DePINs that can be contributed to with nothing more than a phone and an internet connection. Here are just a few:
- NATIX provides a similar solution to Hivemapper’s decentralized mapping network but with an app-based solution, as opposed to a physical dashcam.
- Silencio uses the built-in microphones from people’s smartphones to build a dynamic map of noise pollution around the world.
- Acurast leverages the storage space on old mobile phones to build a decentralized cloud that anyone can contribute to.
With their flexibility and powerful processing power, we can surely expect to see many more smartphone-based DePIN solutions to come to market in the months and years to come.
Conclusion
There’s a DePIN use case to suit just about anyone’s interests. With the heightened risk of job losses due to machine learning and automation, there’s never been a better time to invest in solutions that work for you and earn passive income.
DePIN is designed to be easy to access. It’s not complicated like DeFi, or lacking utility like memecoins. The best part is, most DePIN projects are conceived to contribute something meaningful to society. It truly is a win-win space.
Which device will you try out first?
As a Freelance Tech Writer, Jason Glynn helps business owners and project founders transform complex topics into engaging stories and actionable insights. To see more of his work, check out: https://jason-glynn.medium.com