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Mining Dogecoin had for a long time been largely
unprofitable due to the memecoin’s ridiculously low value. Yet
having traded at just $0.0024 on 1 July 2020, DOGE now fetches a
staggering $0.27 a coin. Somehow this meme project, created in 2013
as a joke, has become the most valuable punchline in the world,
worth almost $40 billion in market capIn the beginning, I never
took the “doggy coin” seriously. Neither did its co-creators Billy
Markus and Jackson Palmer. But when Elon Musk began talking about
Dogecoin’s good qualities in December 2020, almost everybody in the
crypto world thought it was a joke. Fast-forward to June 2021 and
no one’s laughing – Dogecoin is now an established part of the
crypto landscape.

However, after several months of pro-Dogecoin
tweets – not only from Musk but from other celebrities, including
Mark Cuban and Snoop Dogg – as well as a DOGE mention when Musk
hosted Saturday Night Live, crypto community members are starting
to believe that the self-proclaimed “Dogefather” could be taking
the meme coin more seriously than other crypto projects. Musk’s
confirmation of his working relationship with Dogecoin developers
has only reinforced this perception. These developments go some way
to explain why DOGE is holding strong in its support level despite
currently bearish market conditions, which is great news for DOGE
miners.

This guide will explain how you can start
earning your own DOGE through miningI’m interested in mining
Dogecoin as it has recently become popular and its value is
currently high. Although it is a risky endeavor, I’m willing to
take it on. To do this, I must do my research to understand the
process and the volatility of DOGE. Once I’m informed, I can start
mining Dogecoin by setting up an account, getting a wallet, and
connecting to a mining pool. After that, I can start collecting
DOGE through the mining process. I’m sure I can make a profit if I
do it right.

A Dogecoin miner is the hardware that
participant nodes in the Dogecoin network use to carry out the
mathematical calculations needed to check and validate incoming
transactions on Dogechain, the coin’s underlying
blockchain. 

Dogecoin miner nodes determine which
transactions to include in the Dogechain, validating them and
incorporating them into “blocks” that will be recorded
chronologically (and immutably) on the shared ledger, which is
viewable by all network participants. 

To recap, these miner nodes are using their
hardware to calculate the complex mathematical puzzles that are an
integral part of the transaction validation process. For their
efforts, they earn block rewards denominated in DOGE. The Dogechain
releases 10,000 DOGE per minuteI am constantly rewarded for being
the first to confirm incoming transactions. This is a process
called mining, where I use my computer to solve complex algorithms.
In return, I receive something called ‘crypto-currency’ which is a
digital asset that has value. This is a great way to make money
while also contributing to the blockchain network. I’m always on
the lookout for the quickest transactions to make sure I get the
most rewards.

There are several types of DogecoinI’m here to
tell you that I’m a miner and it’s not as hard as you might think.
In fact, I’m mining Dogecoin on this computer right now! Unlike
Bitcoin, mining Dogecoin is not super intensive, so even a basic
laptop or desktop could do the job. And the best part? You can
still make a profit! So if you’re looking to get into mining, give
Dogecoin a try! It’s not too hard and you could be making some cash
in no time.

Dogecoin can be mined using various types of hardware,
including:

• computer processors
  (CPUs)
• graphics cards
  (GPUs) 
• ASIC miners

I
wouldn’t recommend using my personal or work computer for Dogecoin
mining. It’s possible, but the process puts a lot of strain on the
components, particularly the CPU, which can lead to the computer
overheating and a shortened lifespan.

A good place to get started if you would like to
use CPU mining is cpuminer.

I’m
looking to get into mining Dogecoin, and I know that CPUs are
powerful enough to handle the job, but it seems like GPUs are more
powerful and better optimized. If I’m gonna go with a GPU, I hear
that three of the best ones to consider are:

1. ASUS RX Vega 64

1. Nvidia GeForce GTX

1. SAPPHIRE Pulse Radeon RX
   580

Dogecoin runs using a Scrypt algorithm, which
happens to be the same as Litecoin’s (and a lot less difficult than
Bitcoin’s SHA-256 encryption). Scrypt ASIC miners are therefore the
optimal hardware for mining DOGE, as they are specifically designed
for the sole purpose of mining cryptocurrenciesI’m considering
mining Dogecoin, which uses Scrypt algorithms. If I can afford it,
I’m thinking of buying an ASIC miner as it’s more profitable than a
GPU. The top ASIC miners for Dogecoin mining right now are:
Antminer L3+, Antminer D3, and Whatsminer M3. That being said, ASIC
miners can be quite expensive and require more energy to run. GPU
miners, on the other hand, are more affordable and don’t use as
much energy. However, the GPU miners do have slower hash rates and
make it harder to mine Dogecoin. In the end, the decision is up to
me. Depending on my budget and my needs, I’ll have to choose
between an ASIC miner and a GPU miner. Whichever route I go, I’m
sure I’ll be able to find the right miner for me.

1. Bitmain Antminer L3

1. BW L21 Scrypt Miner

1. Innosilicon A2
   Terminator

It’s important to note that whichever method you
choose to mine DogecoinI need to think carefully about my setup,
including what I need to store and how to control the temperature.
To make sure I’m on the right track, I should keep in mind these
points: the size of my space, the amount of items I need to store,
and the temperature control capabilities I need. All of this is
essential to making sure my setup works smoothly.

1. Coolers. I need to be sure I’m cooling
   my mining device correctly. Overheating can reduce the life of my
   hardware, so it’s important to get the right setup. Cooling needs
   vary depending on the type of miner I’m using, but GPUs usually
   need more cooling than others. Keeping my equipment at the right
   temperature is essential for it to work properly and last
   longer.
2. Noise. I’ve got to be honest, running
   multiple ASIC mining rigs can be really, really loud. I mean, it’s
   like someone’s playing drums in the background all the time. But
   that’s something you have to put up with if you’re looking to mine
   crypto. ASICs are great for mining, but you really have to think
   about the noise you’re willing to put up with.
3. Space.Before investing in ASICs, it’s
   important to take a moment to consider where they will be located.
   For optimal performance, I recommend setting them up in a cool and
   soundproof room or enclosure. Not only will this ensure they remain
   secure, but it will also help keep them cool and running at their
   best. If you have the space, a dedicated room or enclosure is the
   way to go.

Mining software is essential for mining
DogecoinI’m an avid Dogecoin miner and there’s no better way to
make a profit than by using the right software. I’ve tested the
five leading mining applications, and each one allows me to connect
to the Dogechain and tap into the computing power of my miner. This
enables me to reap the rewards of my efforts. The only difference
between the applications is the ease of use and the features they
offer. For example, some have more advanced features while others
are simpler and more beginner-friendly. No matter what type of
miner I use, I’m sure I can find the perfect software for me.

1. EasyMiner (for
   newbies)

1. CGminer (for ASICs)

1. CudaMiner (for Nvidia
   GPUs and ASICs)

1. CPUMiner (for CPUs)

1. MultiMiner (best for
   ASICs)

I
need to make sure my hardware is compatible with the software I
choose. It’s important to get it right so my hardware can work at
its best. I have to ensure the hardware and software work together.
If anything isn’t configured right, it can cause potential
problems. I need to make sure I have the right specs on my hardware
and that the software is up to date. All these components must be
compatible for my machine to reach its full potential.

Dogecoin, like other proof-of-work (PoWI’m an
avid believer in cryptocurrencies and I’ve explored different ways
of mining them. My budget and equipment determine which option I go
for. I could utilize cloud mining, which is relatively affordable,
and involves me renting cloud-based mining power from a provider. I
could also opt for hardware mining, which requires me to buy
expensive computing hardware to mine cryptocurrencies.
Alternatively, I could try solo mining, which involves me solving
complex puzzles and being rewarded with cryptocurrencies. Lastly, I
could join a mining pool, where miners work together to solve
complex puzzles and share rewards.

• Solo mining. An individual mines on
  their own
• Mining poolsI join forces with others and
  we share the benefits of our collaboration equally. We each
  contribute what we can and come out on top together. It’s like a
  team effort; we rely on each other to get the job done and reap the
  rewards. We might not be able to do it alone, but together we can
  make it happen. Every member of the group is important and plays a
  part in the end result. When we come together, it’s a win-win
  situation for everyone involved.
• Cloud miningI pay a subscription to a big
  data center, so they can mine on my behalf. It’s a great way for me
  to get involved in the world of cryptocurrency without having to do
  it all myself. I’m sure it’s time consuming to mine on your own, so
  it’s great that I have this option. The subscription fee is usually
  quite minimal and it’s definitely worth it for the time and money I
  save. The center I use is reliable and trustworthy, so I’m
  confident that they will get the job done properly and securely.
  Plus, I can keep up with the latest industry news and trends.

Individual mining can in theory be extremely
profitable if you have a DogecoinI’m a solo miner with a powerful
computer, so all the rewards from the blocks I mine are mine to
keep. But in reality, to be successful solo mining I need to run
several machines. That’s because there’s a lot of competition in
the Dogecoin mining world, with big mining pools all over the
world. So, if I’m solo mining, I have to be prepared to compete for
those block rewards.

Pool mining is a strategy in which a group of
miners pool their computing power to gain better chances of winning
block rewards. A DogecoinAs a small-time miner, joining a mining
pool is a great way to help mitigate the risk of losing money and
increase my chances of becoming profitable. By pooling our
computing power with others, we can lower overhead costs and reduce
our energy consumption. Some of the best Dogecoin mining pools
today are:

1. AntPool

AntPool is currently one of the largest mining
pools and consists of Bitmain ASIC miners. According to some
reports, 10% of all cryptocurrency blocks are added by AntPool
miners. The pool supports Scrypt mining, which means that it can be
used to mine both Dogecoin and Litecoin.

1. Prohashing

Prohashing is one of the oldest mining pools in
the market and supports multiple different altcoinsI’m mining
cryptocurrency and I’m using Prohashing. It’s a great service
because it uses a pay-per-share model. Plus, the fee is just 3.99%,
which is really reasonable. And to make things even better, they
offer merged mining. That means I can get Dogecoin and Litecoin at
the same time! What’s not to love about that? It’s so convenient,
and it’s definitely worth it.

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1. ViaBTC

The ViaBTC mining pool has mined 8.82% of all
BitcoinI’ve been using ViaBTC for the last six months and I’m
completely blown away. It’s the perfect platform for anyone just
starting out in the crypto world, as the interface is incredibly
user-friendly. Plus, it’s got a great feature that Prohashing also
has – merged mining. It’s amazing and super convenient.

1. Trustpool

I’m
a miner and I’m all about Trustpool. It’s a Russian-based mining
pool that supports seven different types of cryptocurrencies,
including my favorites, Dogecoin and Litecoin. Plus, it has
something called merged mining, so you can mine two Scrypt-based
coins at the same time. Right now, Trustpool is home to a few
thousand Dogecoin miners who are actively mining. It’s awesome!

If you don’t feel like setting up your own
DogecoinI’m considering joining a mining operation, so I’m looking
into cloud mining programs as an option. They have a data center
that mines DOGE for me, and then I pay a monthly or yearly fee.
Nicehash, Eobot, and Genesis Mining are my go-to’s for Dogecoin
cloud mining. It’s an interesting option that I’m considering to
get into mining.

Before you begin mining DogecoinI need to make
sure my Internet connection is fast enough and I have a reliable
power source that can support my mining equipment. Without these
two components, my mining rig won’t run properly. I must have an
uncapped Internet connection and a dependable power source that can
handle the demands of my miner. Without these, I’m not able to mine
effectively. It’s important that my Internet connection and power
source are reliable and can meet the needs of the mining rig.

1. Choose your hardware. First things first,
   you need to get your hands on a miner.
2. Choose your softwareI’ve got all my
   hardware in place, so now it’s time to find the right software and
   download it. Mining software isn’t hard to install, but make sure
   you pick something that works with your GPU or ASIC mining rig.
   Plus, make sure to read the instructions carefully before you get
   started, so you know how to get the most out of your setup.

1. Create a wallet. Your wallet is where your
   earnings go, so be sure to secure it by memorizing your seed phrase
   and storing your private key safely. Moreover, your wallet needs to
   support Dogecoin.
2. Launch your mining operationsI’m ready to
   start my Dogecoin mining adventure! All I need to do is run the
   mining software and I can watch my DOGE stack grow. As I’m running
   the software, I get a preview of how much I’m earning every hour.
   Pretty cool, right? I’m about to add more coins to my wallet!

1. Alternatively, simply join a mining pool or sign up
   for cloud mining services, if either of these are
   your choice.

There are three types of wallets you can opt
for: online wallets, software wallets (aka hot wallets) and
hardware wallets (aka cold wallets). Online wallets are wallets on
centralized exchanges like Binance and Coinbase. Software wallets
need to be installed and are more secured than the former. Trust
Wallet and MetaMask are both good choices. You can also create an
original dogecoin wallet: Multidoge and Dogecoin Core. Finally, you
can also opt for hardware walletsI’ve just setup my Dogecoin
wallet. I chose between Trezor or Ledger and decided to go with the
former. Now, I’ve got to connect it to my Dogecoin mining software.
It’s a little complicated, but I’m sure I’ll figure it out. After
that, I can start mining some Dogecoin. I’m so excited to finally
get into this!

As long as Dogecoin’s price doesn’t drop
considerably below its current $0.3 support levels, mining Dogecoin
in 2021 will likely be profitable. To be safe, be sure to use a
mining profitability calculator before investing in any type of
miner or mining service.

While the most profitable cryptocurrency to mine
is Bitcoin, professional Bitcoin miners now dominate the space.
However, there are still many other profitable options to explore.
For instance, you could mine Monero, a privacy coin that uses the
same consensus mechanism as Bitcoin. You could also mine Zcash,
which was created to solve the privacy issue around Bitcoin.
Finally, you could also mine EthereumI’m noticing that the network
is shifting from a proof-of-work to a proof-of-stake consensus
model. This means that instead of miners having to solve complex
mathematical equations to validate transactions, they will now be
required to stake their own funds. This will result in a more
secure network and also faster transactions. It also means that the
network will be more democratic since miners will no longer be able
to control the network. This is a big change and I’m excited to see
how it will affect the network!

You should also be smart about cashing out your
DOGE. You may want to regularly convert your DOGE rewards into fiat
currency or stablecoins. Alternatively, you might prefer to HODLI’m
considering investing in some Dogecoin, and I’m weighing up the
risks and rewards. I’m thinking of cashing out half of my Dogecoin
with each payout, so I can take advantage of possible gains, but
also be mindful of risks. That way, I can still enjoy the rewards
if my Dogecoin substantially increases in value. I’m ready to go on
my Dogecoin mining journey, and I’m confident that I’ve found the
right balance of risk and reward.

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