Dogecoin Minig
Did you know that Dogecoin (DOGE) was intended as a joke? The creators made DOGE as a mechanism to enable users to tip each other for fun social media content. Despite the fact that DOGE set off on a whimsical foot, it’s become one of the most popular cryptocurrencies out there.
When it comes to mining DOGE, the fastest and most profitable way to do so is using ASIC-driven hardware, a rig that uses application specific integrated circuits or ASICs. You also need to be a member of a DOGE mining pool. In short, you need three basic things in order to start mining Dogecoins:
A mining rig, you are better off choosing ASIC hardware Your choice of Dogecoin mining pool – we will list some below The right software configuration Mining Dogecoin can be profitable There are a couple of reasons why mining Dogecoin instead of another coin is a good idea. First, transactions on the Dogecoin blockchain happen quickly so it means that DOGE mining pools tend to make payouts every 24 hours.
Over and above quick payouts, you can also rely on consistent revenue from Dogecoin. As a result, mining Dogecoin is efficient and profitable – and a good prospect. There are also plenty of markets where you can sell your Dogecoin which means that it is worth considering Dogecoin mining to generate a daily income for yourself.
How to mine Dogecoin
DOGE is based on the Scrypt hashing algorithm and for that reason the best way to mine it is using something like the Antminer L3++ as this device makes use of ASICs. Furthermore, you should seriously consider joining a mining pool when mining DOGE coins because it is simply the best way to maximise profits.
What does it mean to join a mining pool? It’s simple really: you add your mining power to a group of other people’s mining capabilities so that collectively you can achieve a higher hash rate – which means that it becomes quicker to solve the problems that lead to a crypto block award. In contrast, mining a single block on your own can take months or even years which means you will wait a very long time for any kind of reward, and you will have costs to cover in the meantime.
What’s required for mining DOGE
There’s a couple of things you need in place to mine Dogecoins. Your internet connection is the first, and we’ll suggest that you have uncapped usage on your connection, but make sure you have at least 0.5GB per day available. Next, you need a wallet to store your DOGE, you will also use this wallet to cash out your Dogecoins. DOGE has a free wallet which you can try, but many wallets support DOGE. So, the four things you need are: