What is HOT and how do you earn it?
Think of $HOT as "reward points" you earn by using a digital wallet integrated into the Telegram app. This isn't a complex traditional mining process, but rather something like a loyalty program or a points-collecting game.
How does it work?
- Get a wallet: Create a HOT wallet using the "NEAR Wallet" bot on Telegram. Be sure to save your "recovery phrase" (backup) in a safe place, as it's your only key to recovering your funds.
- Start collecting: Once your wallet is activated, your HOT "reservoir" will automatically start filling up over time.
- Collect your earnings: Every few hours (initially), log into your wallet and tap the "Collect Tokens" button to transfer the tokens in your reserve to your balance. If you don't collect them, your reserve will stop filling up.
How to increase your earnings?
You can increase the speed and efficiency of your earnings in several ways:
- Upgrade your storage: Increase storage capacity, allowing you to collect tokens once every 24 hours instead of every two hours.
- Improve mining efficiency: Increase the base rate at which your storage fills.
- Complete tasks: Such as adding $NEAR to your wallet or performing other actions within the system, which will grantll you extra payouts or even free transactions.
- Invite friends: Invite others to use the wallet and you will receive a percentage of their earnings.
Key points for security and fees
Fees: The collection process itself is free, but to withdraw tokens to your balance, you need to pay a small network fee (called "gas") in $NEAR. You will receive some free transactions initially, or you can purchase a small amount of $NEAR from a platform like Binance and have it sent to your wallet.
Security Hot wallet:
The HOT wallet is a "non-custodian" wallet, meaning you are the sole controller of your funds via a "recovery phrase." Never share it with anyone.
As a general rule, do not keep large sums of money in any online wallet. Use it for small, everyday transactions, and keep your savings in an offline wallet (cold wallet) for added security.
HOT is a simple and free way to earn cryptocurrency through your daily interaction with its Telegram wallet. All you need to do is create a wallet, collect your tokens regularly, and pay a small network fee ($NEAR) to withdraw your earnings.