If you’ve arrived here, it’s probably because you’ve already read another article on ‘What is Dogecoin’ and you’re dying to know how to mine this interesting cryptoasset.
If you have not yet read our fantastic article about Dogecoin, the crypto created from a joke, we invite you to do so so that you can learn about all its interesting features.
In the meantime, I’ll give you a little background on what Dogecoin is and how it works.
As you may have noticed, Dogecoin (DOGE) is a digital currency that is characterized by having as its logo a meme representing the face of a Shiba Inu dog and, despite having been created as a satire, it has not only established itself in the altcoins market, but it is also one of the most popular coins among crypto-lovers.
Born from a fork of Litecoin (LTC), Dogecoin bases its technology on the Bitcoin Blockchain and builds its platform on the Litecoin open source code, albeit with some modifications. This makes Dogecoin have a faster transaction speed than Litecoin and Bitcoin.
Another feature of the DOGE token is that it has an unlimited supply. This means that there is no token mining limit, as with bitcoin and most crypto.
Being a fork of Litecoin, which in turn, is based on the bitcoin blockchain, it is easy to guess that Dogecoin uses the Proof of Work (PoW) algorithm for its mining.
Mining, which is based on the validation of transactions and the resolution of the blocks that make up the blockchain, consists of creating a new currency thanks to the Master Nodes (computers) of the network that are in charge of this task in exchange for a reward. In the case of Dogecoin, the reward for the validation of each block is 10,000 DOGE.
Well, if you are interested in mining DOGE, it is important for you to know that most users who want to invest in Dogecoin see in its mining a much more profitable option than the simple purchase of this token.
This is due to the lack of the DOGE token supply limit and the fact that its mining process is much more accessible than other cryptocurrencies.
The two algorithms that Dogecoin uses, Scrypt and SHA-256, allow any computer to mine Dogecoins.
In summary, mining Dogecoin is easier and cheaper since it is not necessary to have a very powerful machine or to spend a lot of electricity.
When mining a crypto like Dogecoin, you may wonder if you can mine it with your own PC. Well, here’s the good news: DOGE is a token that can be perfectly mined with your own PC.
But what hardware can I use: GPU, CPU OR ASIC? Is it better to mine alone or in a mining pool?
Below I will clarify all your doubts so you can start mining this fantastic crypto as soon as possible and from the comfort of your couch.
When choosing a Hardware to mine Dogecoin, you have to choose which type to use: CPU, GPU, ASIC.
Well, one of the advantages of this cryptocurrency is that it does not need many requirements to perform the mining activity. This means that your computer probably already has the necessary resources to mine Dogecoin.
Anyway, before finding out if your equipment is capable of running the mining activity, and before buying any hardware, I advise you to calculate the possible expenses that this activity generates and the prices of the hardware you are interested in buying.
It is generally recommended to mine Dogecoin with GPU, i.e. through powerful graphics cards with good performance, although, there is also the possibility of mining through CPU, but it would be profitable only if you have a last generation processor (such as Intel i7-i9).
Below you will find a list of the best graphics cards for DOGE mining.
This card has the following features:
Hash rateh: 510 H/s – 620 H/s
Power consumption: 180 W – 210 W
Price efficiency: 1 $/H – 1.31 $/H
Energy efficiency: 0.29 W/H – 0.41 W/H
500 watts of electrical power
GPU clock speed of 1366 MHz
Graphics coprocessor: Radeon RX 580
Once you have a good computer and powerful hardware, you will also need to look for good software to help you perform the key tasks in the process. The choice of software to use depends on the type of hardware you have chosen and on the results you want to achieve.
So, if you decide to mine Dogecoin with CPU, I advise you to use a software like CPUMiner.
If you are going to mine Dogecoin with GPU, I recommend you to use software like.
In case you prefer to try more, I recommend you to check the list of recommended software on Dogecoin’s official website.
If you have read other posts about mining other tokens, you will know that mining alone is not a very advisable choice, unless you have a lot of ASIC devices in a place where electricity is very cheap.
Otherwise, it is very difficult to mine a DOGE block and earn rewards and, even if you do, you will most likely barely be able to cover the costs of electricity and the equipment you have purchased. The positive side of ‘solo mining’ is that, once you earn a reward, it is all yours and you don’t have to share it with others, which happens when you decide to mine in a group.
So, if you decide to join a Mining Pool, keep in mind that you will have to pay some commissions and the reward earned is shared among all participants.
When choosing a mining pool, I advise you to evaluate multi-currency pools such as Multipool or AikaPool as an option.
If you want more options, you can consult the list of mining pools available on Dogecoin’s official website.
According to Coinwarz’s Dogecoin mining calculator, depending on the type of hardware used to mine DOGE, 98.35926077 DOGE can be mined per day with a mining hashrate of 2200000.00 KH/s, a block reward of 10 DOGE and a difficulty of 4,499,469.43.
After deducting energy costs and mining rights, the final daily mining profit is $2.76 at DOGE.
According to the mining calculator at www.coinwarz.com, at the time of this writing, mining 1 DOGE would take 0.010 days at the current difficulty level along with a mining hashrate of 2,200,000.00 KH/s, consuming 2,100.00 watts of power at $0.10 per kWh, and a block reward of 10000 DOGE.
Although mining Dogecoin is quite easy, compared to other crypto where the difficulty is much higher, I have to tell you that mining Dogecoin will not make you a millionaire.
Surely, depending on the cost of the equipment you will use for mining and electricity, you could have some extra income that never hurts.
If you don’t know, you can always calculate the potential return on mining activity, depending on your equipment, using online platforms that give you up-to-date figures on prices, blocking times, hashrate and how much you could earn from DOGE mining.
By inserting your hardware model, you will be shown the hash and profitability information.
Here is a list of the best DOGE mining profitability calculators:
In short, if you think the effort and investment is not worth it, you can always play with Dogeminer, a Dogecoin mining simulator, available for PC or on your android smartphone. Become a virtual Doge-billionaire. 😉
TO THE MOON!!!