How to Mine Hot on NEAR Wallet [Simple Steps]

near wallet hot token mining
The HOT token is a cryptocurrency developed on the NEAR protocol, enabling users to mine or earn HOT tokens directly through the official NEAR wallet app. This article offers an easy-to-follow, step-by-step guide on creating a NEAR wallet, setting up your seed phrase for security, and beginning to mine HOT tokens at no cost. Let's dive in!

First of all you need to create a wallet. Click here to create the Near Wallet to mine HOT.

Step 1: create new account

Step 2: create nickname

Step 3: tap continue

Seed Phrase

Don’t lose access to your crypto!

The most important thing you can do is record your seed phrase. This is a short list of words that lets you get your wallet back if something happens to your device.

Go to Settings and then “Save seed phrase.” I recommend writing these words down on a piece of paper and keeping it somewhere safe. Never lose it or share it with anyone. Anyone who has those 12 words can steal your crypto.

Sending Tokens

Top up your NEAR balance before sending tokens!

NEAR is needed to pay for transaction fees, just like gas for your car. Make sure you have enough to cover the cost before hitting send.

Here’s how to send funds.   

  1. Press the “Transfer” button.
  2. Enter the recipient’s address.
  3. Choose the token you want to send.
  4. Enter the amount of tokens.
  5. Click “Transfer.”

Mining HOT

Just create a wallet and claim your first HOT with a click of the “Claim” button. This kickstarts your HOT mining, but it will pause once your storage fills up.

Claiming HOT

You can claim HOT every 2 hours, 3 hours, 4 hours and so on until you reach a point when you can do it just once every 24 hours. In order to do it less often you need to burn your mined HOT, this way you will increase the time of mining.

  • Level 0 – Wooden Storage – 2 hours – free
  • Level 1 – Metal Storage – 3 hours – 0.2 HOT
  • Level 2 – Modular Storage – 4 hours – 0.5 HOT
  • Level 3 – Liquid Storage – 6 hours – 1 HOT
  • Level 4 – Titanium Storage – 12 hours – 4 HOT
  • Level 5 – Gold Storage – 24 hours – 10 HOT
mine hot on the near wallet

Mining Speed

Just like you can increase the time of mining by burning HOT, in the same way you can increase the mining speed by using your HOT tokens.

You can increase the mining speed in 3 ways: Fireplace, Wood, Referring people

In the case of Fireplace and Wood, you need to burn your HOT to pump up the mining speed. In the third case you just need to refer people to start using the NEAR wallet using your affiliate link.

Once you claim your HOT, it’s securely recorded (on-chain). There’s a small fee, around $0.005, paid in NEAR tokens to cover the network cost (similar to gas for other blockchains).

To help you get started, you get 3 free claims. To keep claiming HOT after that, you have a few options:

  1. Top up your NEAR balance: Just add more NEAR tokens to your wallet address.
  2. Use HOT to cover fees (but be careful): While you can use HOT, it’s actually cheaper to use NEAR for fees.
  3. Complete special missions: Earn free transactions by completing special tasks.

Mining HOT on the NEAR wallet is very simple and intuitive. It’s still very early that is why you should start as soon as possible. In the future it won’t be possible to mine HOT for free, you will have to buy it on an exchange.

Why should you start mining HOT? There are at least two reasons.

Firstly, the HOT token is not worth much now, but who knows how much it will be worth in the near future. Accumulate as much as possible and once the price increases, sell it. It’s free money.

Secondly, by mining HOT on the NEAR wallet you have a chance to receive airdrops. Again, it’s free tokens and free money, so why not take advantage of it?

Start mining HOT today and learn as you go! The sooner you start the better!

P.S. once you create your wallet and start mining HOT make sure you join the HOT Telegram group to learn about the latest news related to the HOT token.

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