Dogecoin has become a significant cryptocurrency in the marketplace. With various tweets from celebrities including Elon Musk and Snoop Dog, Dogecoin has become a profitable coin to mine. For example, a new Dogecoin casino is one real-world application for the coin with more sure to follow, the future for Dogecoin looks more assured than most.
What Hardware Do I Need to Mine Dogecoin?
To mine Dogecoin, you need a Dogecoin Miner. A Dogecoin miner node is the hardware that is used by the Dogecoin network to complete the mathematical calculations required during the validation of incoming transactions on the Dogechain, the coin’s blockchain.
How Dogecoin Mining Works
Dogecoin miner nodes decide which transactions should be included in the Dogechain, validating each of them and then incorporating them into blocks to be recorded on the shared ledger which is available to view by all members of the network. The Dogecoin Miners earn block rewards paid in DOGE. The Dogechain makes available 10,000 DOGE per minute. These are then rewarded to whichever miner node confirms incoming transactions first.
Choosing the Best Dogecoin Miner
Dogecoin miners are available in a number of types. The simplest lets you start mining on a basic PC or laptop. Dogecoin miners do not require the same intensive processing power that Bitcoin requires. Mining Dogecoin with a standard laptop will still allow you to make a profit.
Dogecoin can of course be mined using various types of hardware. These include the graphics cards as used in Bitcoin, but also ASIC Miners and CPU Miners.
Although it is possible to mine Dogecoin using your laptop, it is much better and more stable to use a dedicated machine. A good place to get started is to choose a good GPU for mining as these are more powerful and better suited to the task. Good GPU’s to choose from are ASUS RX Vega 64, Nvidia GeForce GTX, or the SAPPHIRE Pulse Radeon RX 580.
Scrypt ASIC Miners
If you have more money to spend and are looking for a larger return, a Scrypt ASIC miner has the best hardware architecture for mining DOGE. These are purpose-designed units that work for mining Cryptocurrencies using Scrypt algorithms. Currently, the best ASIC miners for Dogecoin are the Bitmain Antminer L3, the BW L21 Scrypt Miner and the Innosilicon A2 Terminator.
The Right Setup
Mining generates heat so be sure you have a space suitable for your equipment where it can be well ventilated and secure. Noise can be a factor, especially when you are running multiple ASIC mining rigs. If you are living in a flat or a home with others, you will need to take this noise seriously and it may be worth investing in a soundproof computer enclosure to make sure inconvenience is not caused.
Dogecoin Mining Software
Regardless of the miner you choose, you will need software to allow you to connect to the Dogechain and mine your way towards profit. If you are new to crypto-mining, EasyMiner is a great choice to learn the ropes. Miners are often specific to hardware, such as CGminer which is tailored for ASICs miners or Cudaminer suited for Nvidia GPUs and ASICs.
Dogecoin can be mined using different methods, depending on the equipment you have available and your budget. First, there is solo mining, where an individual mines on their own. Then there are mining pools where individual miners pool their resources together and then split the profits between themselves. Lastly, there is cloud-based mining, this works by paying a subscription for in effect another organization to carry out the mining on your behalf.
Dogecoin poses an opportunity for smaller miners, though Bitcoin is a profitable coin to mine, the Bitcoin mining arena is heavily filled with well-established professional miners.