In a world of progress, everything is competing with each other to go ahead. It is only a matter of time before cryptocurrency makes its mark. The more the world incline towards digitization, the more cryptocurrency will have a huge value to the world.
And as Dogecoin is one of the primary names in the crypto world, it is without a doubt, one of the most highly hoped aspects there is.
So, investing in Dogecoin is a good idea as of now. But as of now, you need to know a few things before investing in Dogecoin.
Dogecoin is a symbolized cryptocurrency to the ‘Shiba Inu’ dog breed of Japan. Started as a joke on the internet as the dog that expresses the currency is a favorite meme character. But within a year, the currency raised to popularity with a valuation of US$60 million as reported on January 14th, 2014.
Key features of Dogecoin
With Dogecoin rising to popularity as the days are going by, it has also developed quite a few unique features over the years. Below is a complete list of all the key elements of Dogecoin.
Dogecoin was initially founded as a joke by Jackson Palmer. But after the popularity being increased to a ridiculous level, the community decided to turn the fun into a reality.
#1 A Simpler way of Transaction
Dogecoin was initially created to make a more friendly approach towards the users. It was initially built to make the flaws in the cryptocurrency usage created by Bitcoin simpler. The most prominent reference to that is the fact that it was derived from a popular joke from the internet.
#2 Large and active
Dogecoin surprisingly has the largest and the perhaps the most active of communities in the entire world. The concept was to fund a few liberal ideas, and by far they are the top in matters of deeds and activity in the crypto world. Their efforts even made the Dogecoin fund the NASCAR.
#3 It’s a Tip
It’s a tipping service where the user tips the poster about a post. It’s similar to Instagram and Facebook post like but definitely with a higher value of impact.
#4 Palmer’s Absence
The last update By Jackson Palmer was on 2015. Neither the coin nor Jack has ever updated about the project ever since. The previous statement of Jack before abandoning the project claimed that he was leaving for a long time.
How to Mine Dogecoin
As Dogecoin is one of the most influential cryptocurrencies, the first thing that comes to everyone’s mind is how to mine Dogecoin? Dogecoin is mined with two basics: Solo or self-mining and community or Dogecoin mining pool.
Solo mining is the same as all the mining activity. You use a decent enough computing tech and power, and you keep the complete mining (profit or loss) in your wallet.
Community or pool mining, on the other hand, makes you mine through a particular community that makes your computing cost decrease. That makes the complete costing of mining decreased, but the share is also divided among every member of the pool equally.
Dogecoin Mining Hardware and Dogecoin Mining Rig
Just like every other cryptocurrency, Dogecoin mining hardware and Dogecoin mining rig are also an essential part of the mining procedure. As the productivity will increase according to need an input of the system, choosing the right hardware is necessary at first hand.
Here is a list of the complete detailed list of Dogecoin mining hardware.
The Budget version: if you are looking for a low-cost budget mining system, this is the best option for you. The entire setup will cost around $1000 or less. With a hash rate of 1,350Kh/s, it is not a wrong gear to start with.
4 GPU version: A 4 GPU mining is the best-suggested option. With a hash rate of 2600kh/s and a roughly around $1600 of expense, this is undoubtedly the most popular choice there is.
6 GPU version: Although a little challenging to execute, the 6 GPU is the best useful option there is. Costing around $1800 and a hash rate of over 3200kh/s, this is a little trick, but the best option there is.
Dogecoin Mining Software
The Cgminer 3.7.2 is the best Dogecoin mining software as it supports all script based currencies. The CLI or the command line interface must be supported with a .bat file or .conf file with the card’s specs. It also has custom changes for you to give it a different look.
Dogecoin mining profitability and Free Dogecoin mining
For the best results on Dogecoin mining profitability, wahttomine.com is the best option there is. It will give you all the necessary aspects that you need to calculate before mining (Dogecoin mining calculator) The best suggestion will be to check the profitability before buying any gear. That will make the entire process more profitable. Just open the site and fill the details in. Click ‘calculate’ after filling the details and analyze the features.
Doge miner is one of the most reliable free Dogecoin mining sites there is. If you are a beginner and you want to know before starting anything, this is the best option for you. The steps are simple and comfortable, and you will be up and running in no time.
Dogecoin Mining android App
The good news is Dogeminer has an android app version. This will be the best Dogecoin mining android app if you are a beginner. It will also help you to mine those extra profits passively if you are a full-time miner. Google has made some regulatory changes to the mining apps, where you can only manage and monitor the mining process, but mining on android apps has been banned.
As the only cryptocurrency with a community to mine and fund for something charitable, Dogecoin is a very highly valued crypto entity in the market. If you are into it, you must also have a good heart along with the right mind to make some serious profit.
FAQs on Dogecoin Mining
1. How is Dogecoin mined?
Dogecoin mining has been discussed in a detailed manner. Please refer to the above segments.
2. How many Dogecoins are left?
There are 18,040,150 Bitcoins in existence, but the number changes every 10 minutes.
3. How long does it take to mine Dogecoin?
It takes around a minute to mine 1 DOGE.
4. How much is Dogecoin worth?
As of 25th November 2020, 1 DOGE is equivalent to $0.00284.
KuberVerse is an educational initiative. Anything expressed here directly or indirectly is not investment advice. And we ask you to do your own research before investing.