I have been diving deeper into the Polkadot blockchain recently. I have held a small amount of DOT for a while now but never really knew what type of digital gold I was holding. For the longest time I just thought Polkadot was just another blockchain project. You know most of these projects are fairly the same. They promise fast, secure, borderless, and trustless transactions. Which is amazing, do not get me wrong but Polkadot is something different. In my previous article I explained what Polkadot is and why it is so important.
This is the video version of this article. I tried to explain it the best I could. I hope you enjoy!
In this article I am going to be covering a project I have been using for a while. When I first started using this platform there was no way to withdraw your earnings. Well at least not that I knew of. I recently found out how to withdraw. So, let’s dive a little deeper into the Polkadot blockchain.
What is the Polkadot Blockchain (DOT)
I know I have explained the Polkadot blockchain in my previous article, but I am going to give a short explanation for the new readers. Polkadot (DOT) is an interesting and promising project. DOT’s first block “Genesis Block” was launched on May 26th, 2020. It was created by Gavin Wood, Robert Habermeier, and Peter Czaban. Polkadot is a next gen blockchain protocol that connects specialized blockchains into a unified network. It prioritizes scalability, allowing parallel processing across different chains. Each chain can be optimized for specific use cases. Polkadot fosters interoperability, enabling cross-chain communication. Communities govern their networks transparently, and seamless upgrades keep the system adaptable. In summary, Polkadot empowers a more efficient, interconnected, and customizable blockchain ecosystem.
Click here to check out my previous video to get a better understanding of what the Polkadot blockchain is and why I think it is so important. You can also learn about a social platform called Grill that uses the Polkadot blockchain.
In the next section we are going to cover one of the easiest ways I have found to earn. The platform I am about to go over allows you to turn any device you own into a node. Normally you need to know a good amount about Cryptocurrency, have a decent number of tokens, or have physical hardware. Not with his platform. There have only been two nodes you can run with ease that I have found, Tangled browser and this platform.
Nodle – Connecting the World
The platform I am going to be discussing in this article is called Nodle. First thing I think we should go over is what exactly is Nodle. Keep reading to find out. While I have your attention, I would like to remind you to like and subscribe to my page. It really helps my posts get noticed.
Nodle was created in 2017 by the genius minds of Eliott Teissonniere, Garrett Kinsman, and Micha Benoliel. Nodle is a project that connects the Internet of Things (IoT) devices. Their mission is to bring the next trillion IoT devices online securely and cost effectively. So, the idea behind Nodle is pretty mind blowing. Nodle allows your device to become a privacy first (we will get into privacy later in this article) data gateway for devices that cannot connect to the internet directly.
Nodles technology can offer services such as efficient tracking of physical goods, data utilization, and security certificates to name a few. To help boost this idea and get more people on board the Nodle team created an eco-friendly Cryptocurrency called Nodle Cash.
How does Nodle work?
Nodle is an innovative app that enables users to earn cryptocurrency by leveraging their smartphones as network nodes. Keep reading to find out how this next level project works.
Nodle is an easy platform to use. It is as easy as downloading the app and clicking a couple of buttons. The only things I believe the average user will have a problem with is withdrawing and exchanging their earned tokens. Do not worry though, later in this article I will walk you through the process of exchanging your earned NODL into other tokens.
Nodle uses something called a “proof of connectivity” algorithm and rewards its users with NODL based on the number of base stations, network bandwidth, and geographic coverage. The Nodle app uses Bluetooth low energy (BLE) which makes it so your phone’s resources and power are not affected while the app runs in the background.
Nodle seems to take privacy seriously and says it does not collect any personal data. The Bluetooth devices around you connect to your phone and your phones relay that data to the desired companies. Nodle says all of the information is encrypted and users’ personal information is not collected during this process. I have not seen anything that goes against these promises.
Remember to write down your seed phrase when first signing up. This phrase is your key to your wallet. If this is lost or stolen, you have the chance of losing your Crypto forever. When using Cryptocurrency this will extremely important no matter what wallet you are using.
Download the Nodle App
Simply download the Nodle app on your smartphone. No additional hardware or crypto experience is required.
Turn on Bluetooth and Location Sharing
Activate your phone’s Bluetooth and allow location sharing. By doing so, your phone becomes part of the Nodle network.
Earn NODL Tokens
Once active, the app connects to the network, and you’re rewarded in NODL tokens, which is Nodle’s native cryptocurrency. Your phone’s contribution to network coverage earns you these rewards.
Stay Online
Keep the app active to contribute to the network and earn rewards in real-time.
It is as easy as the steps above to get started and start earning from this platform. There are not that many platforms out there that allow you to earn as easily as this without having to do anything other than install the app. Now earning is easy but the problem I came across most was withdrawing and exchanging your earned tokens into DOT or another token. In the next section we are going to go over how exactly you withdraw.
Earning & Withdrawing
NODL is one of the easiest tokens you can earn (Well right next to Millix using Tangled). Setting up the app and earning is as easy as downloading the app and following the simple instructions on the screen. After you have set up the app it just runs in the background, and you withdraw whenever you are ready.
I have been using Nodle on and off for a while now. I would use it for a little while and then give it up. The reason I did this is because I did not know how to withdraw so I thought it was not worth keeping on my phone. Come to find out the withdraw and exchange process is simple.
The amount you earn will be based on multiple different things such as the number of devices you are using, your location, and the amount of time you are connected to the network.
Withdrawing
At the moment you can only use one exchange to withdraw that I know of. This exchange is called HydraDX. Now the process is a little confusing but once you try it and go through the process you will see it is not as complicated as it sounds. You can also watch my video at the beginning of this article for a walkthrough of the withdraw process.
So first you are going to need to withdraw your NODL from your Nodle app to your Subwallet wallet. Or whatever other Polkadot wallet you want to use. Such as Nova Wallet, Talisman, Enkrypt, Fearless Wallet, PolkaWallet, and PolkaGate.
You can choose whatever wallet you think is the best. HydraDX allows you to sign in using multiple different wallets. After you sign in you are going to need to go the cross-chain button at the top middle of your screen. You will need to make sure you have a small amount of DOT in your account for fees. So, make sure you also do this first step for a small amount of DOT as well. You will not need a lot for the fees so $0.50 should be good for a couple of transactions. You will make this back plus more if you space your withdrawals out when using the Nodle app. So, the first thing you will need to do is send over a small amount of DOT to the Hyrdra chain and then send your NODL.
After you have done this, you will need to move your NODL token over to the HydraDX chain. You will need to pay a small fee for the transaction but do not worry. Fees on the Polkadot blockchain and all chains that use it have some of the smallest fees when it comes to blockchain transaction fees.
After you have switched it over to the Hydra chain you will need to go to the swap section on the top left of the menu bar. You are going to need to use Hydras chain to exchange the tokens. HydraDX allows you to use its cross-chain capabilities for a small fee. This exchange is next level and works with ease for any projects token that uses the Polkadot blockchain.
After you have done this your Crypto is still on the Hydra chain. So now the last step you need to take is go back to the cross-chain section and send your exchanged DOT back to the Polkadot blockchain.
Now your DOT is in your wallet and ready to go. You can now send your DOT from your wallet or stake it and earn passive income. Or you can save it and stock up for the future of DOT. I am saving and investing. I am investing my earnings into Grill (social platform that uses the Polkadot blockchain) and holding the rest to see what the future holds. I know a good amount of people are just trying to earn a little side money, so I get the want and urge to sell and reap the rewards right away. Sometimes patience and investing can take your life in a different direction.
The Future of Nodle
As I always say, the future of Cryptocurrency is unclear. I know that a large number of projects will fail while others will grow beyond our wildest dreams. I believe Nodle is one of the platforms that is going to keep growing. I believe IoT devices are needed to help truly connect our world. Allowing devices to connect to the internet that normally cannot connect without being directly connected to your device is mind blowing. Also allowing the user to earn while helping secure and grow the network is true passive income. This will incentivize users to share this platform like I am doing. Nodle does not have a referral program sadly. This is because the rewards you receive are high and the project is promising. If you are feeling generous and want to support my page then the best thing you can do is like my content and share as much as you can. This does more then you know.
Final Thoughts
I have a feeling we have just started seeing what the Polkadot blockchain is truly capable of. We are helping build something truly world changing. The Polkadot blockchain allows all of us to help the growth of this blockchain and rewards us for doing it. With extremely low transaction fees, staking options as high as 33%, and adoption growing. We are witnessing a new way of money, a new way of interacting with the digital world and one day the physical world. I truly believe we will be able to buy and sell things using Crypto before the end of this decade. I know we can kind of do it now but I am talking about when stores start accepting Crypto instead of having to use a debit type card like Coinbase has. The world is changing fast, and this technology is at the forefront. The world is going to be connected like we have never seen before. Faster payments, global access, and the ability to revolutionize the way the world works.
Thanks for reading! Check out some of my favorite platforms below.
Tangled - Pay me Internet (DAG technology)
Torum - Earn XTM using social media (BNB)
Bulb - Earn BULB blogging (SOL)
Grill - Earn SUB using social media (DOT)
Check out my website for all my content and to learn more about Crypto!
Earn With Hatty - Links to some of the best Crypto earning platforms.
https://www.earnwithhatty.com
Learn With Hatty - A place to learn about different Cryptocurrency projects
https://www.hattysshack.org