Dec 31, 2018 07:30 UTC
Jan 3, 2019 at 13:00 UTC
How To Mine Dogecoin?
Dogecoin, the cryptocurrency that was spurred by doge memes, has come a long way since its inception. How to mine Dogecoin is now a prime concern of crypto lovers.
If you read our beginner’s guide to Dogecoin, you’ll understand how it was designed as a lightweight cryptocurrency meant greatly for micropayments and the like. Now there are of course, two ways to acquire Dogecoins. While one of them is by buying those coins, the other is by mining.
Mining is the way in which Dogecoins are produced as a reward to confirming and validating blocks of information on a given blockchain. This is usually a major way to get hold of a certain cryptocurrency, unless you are dealing with a pre-mined one such as Ripple.
In this article, we give you an overview of how to mine Dogecoin. Before we begin with the process, let’s run you through the main things you need for mining Dogecoin.
You May Also Read: Best Altcoins To Invest In 2019
Things You Need To Mine Dogecoin
1. A PC
Having a personal computer with a Windows, Linux or OS X operating system is essential to the process.
The PC’s CPU also ends up playing an important role in all of it. However, bear in mind that the process will cause damage to your PC if the CPU is not strong enough for it.
2. Working Internet Connection
A blockchain is a chain of interconnected nodes. To mine, you must be able to keep in touch with all of them.
Hence having a strong, working internet connection is absolutely essential to mining.
3. A Graphics Processing Unit (GPU)
A GPU is basically nothing but a graphics card that are required in the mining process as well. The market is flooded with a large variety of GPUs of different qualities.
However, if you are just starting out, you may choose to go with either a Nvidia GeForce GTX, a SAPPHIRE Pulse Radeon RX 580 or an ASUS RX Vega 64.
4. Scrypt ASIC Miner
Dogecoin, rather like Litecoin, was designed based on Scrypt. ASIC miners based in the same language is essential to the process.
Bear in mind, however, that these burn quite a large whole in your pocket and are likely culprits to creating immense noise pollution.
If you are a beginner, you may start out with either a Bitmain Antminer L3 or BW L21 Scrypt Miner.
5. Mining Software for Dogecoin
You need a software dedicated to mining Dogecoin and they are usually available quite widely online. A quick search for the software types will help you choose as per your budget.
6. Dogecoin Wallet
Keep a wallet handy for all the coins you make and earn using the mining process.
You may choose from our list of best cryptocurrency wallets or simply download a decent one from an online service provider or Dogecoin.com.
You May Also Read: How To Sell or Trade Dogecoin?
How to Mine Dogecoin?
To mine Dogecoin, you can either go with a mining pool where you pay a fee to earn a small portion of the pool’s total earning.
Otherwise, you can go solo but in that case you’ll be up against the combined mining power and skill of a lot of miners, leading to really sparse chances of earning a reward.
Once you get your necessary requisites in order, you can start mining following the instructions to crack the complex cryptographic calculations that come your way, depending on the mining difficulty level.
Here Are A Few Other Articles For You To Read