Dogecoin Mining

Dogecoin Mining in 2019: A Complete Guide

Well, we have previously discussed Is Dogecoin mining profitable? But, we didn’t give a thought to Dogecoin Mining and how to mine Dogecoin.

Let’s take a lucky guess that you are a community person. If that’s true, then Dogecoin mining may be the perfect start for you.

The journey started with Bitcoin in 2009, and now there are thousands of cryptocurrencies out there in the market.

The new coins are called Altcoins, and Dogecoin is one of the popular altcoins today. Just like Bitcoin, Dogecoin can be sold and traded. Also, it can be mined!

You May Also Read: Dogecoin Vs NEO Coin – Which One Should You Invest?

What is Dogecoin Mining?

If you think Dogecoin mining as a process of being rewarded with new Dogecoin for checking transactions on its blockchain, you’re wrong.

Mining Dogecoin quite resembles with a lottery, where you have to do some work.

The work here involves transaction confirmation and verification.

Well, most cryptocurrencies’ mining happens to solve the mathematical problems. The ones who solves the puzzles first, wins the block reward.

However, Dogecoin mining differs from other cryptocurrencies in several aspects. They are;

Dogecoin Mining Comparison with Bitcoin and Litecoin

Dogecoin Mining: Solo vs Pool

When it comes to mine Dogecoin, there are generally two main approaches, Solo mining or Pool mining.

The first approach means that you have to provide the hashing power yourself. Also, it implies that you are the only one receiving block rewards. However, it can be daunting on a small scale.

On there other hand, there is Pool mining, which is certainly a wise choice for the novice minor, particularly when you can’t afford losing money.

Pool mining mainly involves higher returns since it is a collaborative effort between all the members in the pool.

You May Also Read: Dogecoin Vs Cardano – Which One is Better?

Things You Need in Dogecoin Mining

Before you can start mining, you will need a few things to make the Dogecoin rain happen.

  • Hardware – Basic machines are perfect to experiment with when starting mining, but scaling will need some more serious hardware like GPUs and ASICs.
  • Software – The mining software may vary, depending on OS and hardware. For instance, CPU Mining, GPU Mining and ASIC Mining.
  • Dogecoin Wallet After all, you will need a place (wallet) to send your mined DOGE.

You May Also Read: Bitcoin Vs. Dogecoin: Which One is Worth Investing In?

Conclusion

When you begin mining Dogecoin, you end up owning Dogecoin. This implies you are included in one of the best communities inside the cryptosphere, and that may possibly be reason enough to do it.

By mining Dogecoin, you essentially bolster all the great philanthropic work that rotates around Dogecoin.

Here are a Few Articles for you to Read Next: