How to Mine Dogecoin: The Comprehensive Guide
Dogecoin is the most famous meme cryptocurrency. Despite its comic origin, the coin has remained in the top 10 by capitalization for several years now, and interest in it has not weakened. The project is developing largely thanks to the support of the community, including Tesla founder Elon Musk.
Dogecoin is popular not only among ordinary users – miners also choose DOGE, since the coin uses the PoW consensus algorithm and is profitable to mine.
In a new article, I will tell you what equipment can be used to mine DOGE, how to start making money by mining coins, and what prospects Dogecoin has.
What is Dogecoin mining?
Mining in Dogecoin is necessary for creating new blocks, confirming blocks with transactions, recording them in the blockchain and maintaining the functionality of the entire system. For this purpose, computing power is used, which is provided by miners (users who engage in mining). For supporting the operation of the blockchain, miners receive a reward in the form of DOGE coins.
How does Dogecoin mining work?
Like any cryptocurrency, DOGE has some features that affect the mining process. Among the main ones:
- Scrypt hash function. Its peculiarity lies in the importance of the amount of RAM along with the power of computer processors;
- Parallel mining. Scrypt makes it possible to mine simultaneously not only DOGE, but also any coin that supports this algorithm;
- Number of coins. The blockchain does not have a limit on the number of DOGE coins mined;
- Halving. Dogecoin does not use halving, so the miners’ reward does not change.
How difficult is it to mine Dogecoin?
Difficulty is the parameter used to describe the complexity of mining. Difficulty is a number that shows how many times a miner needs to solve a cryptographic puzzle in order to receive a reward. Mining difficulty increases as the network hashrate increases and decreases as the hashrate drops. Such changes are necessary to ensure stability of the time of creation of a new block – in Dogecoin it is formed every minute. A new block mined brings the miner a reward of 10,000 Doge.
Types of Dogecoin mining
You can mine DOGE in three ways: in the cloud, solo and in mining pools. Let’s look at each option in more detail.
Dogecoin solo mining
The current level of DOGE hashrate makes solo mining the most unprofitable possible way to mine this coin. Even a large amount of equipment will not allow solo miners to compete in efficiency with pools.
Dogecoin pool mining
Mining DOGE in pools is the most common and most efficient way to mine the coin. This type of mining will also require your own equipment, but thanks to the high hashrates of the pools the costs pay off relatively quickly.
In addition, pools allow the use of parallel mining (merged mining). This makes it possible to mine another coin besides DOGE that can work with the Scrypt algorithm (for example, LTC). Almost all the largest pools support DOGE merge mining.
The largest Dogecoin pools
|Pool||Address||Fees||Year of foundation|
|Binance Pool||https://pool.binance.com||3% (including LTC)||2020|
|ViaBTC||https://www.viabtc.com/||1-4% depending on the remuneration calculation method (including LTC)||2016|
|F2Pool||https://www.f2pool.com/||4% (including LTC)||2013|
|Litecoinpool||https://www.litecoinpool.org/||0% (including LTC)||2011|
|Antpool||https://www.antpool.com/||3% (including LTC)||2014|
Dogecoin cloud mining
DOGE can be mined using cloud mining. Mining in the cloud does not require your own equipment, but you do need initial capital to purchase slots for coin mining. The profitability of this type of mining greatly depends on the amount of initial investment.
Cloud mining companies rarely offer “pure” DOGE mining. Usually, the coin is included in complex offers as one of the altcoins. Such compound slots with DOGE are offered, for example, by bemine.club.
Things you need to mine Dogecoin (DOGE)
To start mining Dogecoin, you will need equipment, mining software (in ASICs it can come bundled with the miner) and a wallet for DOGE. After this, you need to select a pool, configure the miner, optimize it (if necessary) and start mining.
Dogecoin mining hardware
The table below shows the most efficient ASIC miners for DOGE mining today:
|Miner||Hashrate||Power consumption||Noise level||Approximate price|
|Goldshell Mini-DOGE II||0.185 Gh/s||233 W||35 dB||$ 460-520|
|Hammer D10+||5 Gh/s||3400 W||88 dB||$ 3400-3850|
|Bitmain Antminer L7 8800||8.8 Gh/s||3300 W||75 dB||$ 4100-4700|
|Bitmain Antminer L7 9050||9.1 Gh/s||3425 W||82 dB||$ 6400-7100|
Mining DOGE using video card processors (GPUs) is considered to be not the most effective solution. If you want to try mining coins using video cards, then you can pay attention to equipment from AMD and NVIDIA. The table below shows video cards suitable for DOGE mining:
|Video card||Price range|
|NVIDIA GeForce RTX 3080||$1700 – $1900|
|NVIDIA GeForce RTX 3070||$800 – $1200|
|NVIDIA GeForce RTX 3060 Ti||$540 – $620|
|AMD Radeon RX 6700 XT||$500 – $550|
|AMD Radeon RX 5700 XT||$250 – $300|
Dogecoin mining software
To mine DOGE, you may need special software – miners. Choosing a convenient miner is especially important when mining Dogecoin on GPU. ASIC miners often have their own software for mining coins, and for them the selection of software miners is not relevant. The table below shows a list of commonly used DOGE mining software:
|CudaMiner||https://www.cudominer.com/||1.5% – 6.5% depending on production volume.|
A DOGE miner will definitely need a wallet that supports Dogecoin. Most modern cryptocurrency wallets support this blockchain (a list of verified services can be found on the official website of the project).
I recommend using Exodus – this is a multi-currency crypto wallet with a user-friendly interface, support for versions for PCs, smartphones and browsers (Chrome and Brave), compatible with Windows, Linux, macOS, Android and iOS.
How to mine Dogecoin? Step-by-step instructions
Let’s take a step-by-step look at how to start mining DOGE. To do this, you will need to buy equipment, install and configure a wallet and mining software, connect to the pool, and start mining.
Step 1: Buy Dogecoin Mining Hardware
In this article, I listed equipment that allows you to mine DOGE most efficiently. Today’s Dogecoin network hashrate makes ASIC miners the smartest choice for mining the coin. Below are the main parameters that will allow you to choose the optimal equipment:
- Mining algorithm. To mine DOGE, the ASIC must work with the Scrypt algorithm;
- Hashrate. The higher this indicator, the better. Choose ASIC with the maximum hashrate;
- Power consumption. The less electricity the equipment consumes, the lower your utility bills;
- Noise level. This parameter is specified in the equipment specification and is measured in decibels (dB). The lower it is, the quieter the ASIC operates;
- New or used. Buy new devices. “Fresh” ASICs have a warranty period, and you can make a claim to the manufacturer in case of malfunctions. No one guarantees the normal operation of used equipment.
Step 2: Set up a wallet to receive Dogecoin
To show the process of creating a DOGE wallet, I used the Exodus app as an example:
- Download and install wallet;
- Create a username, password, seed phrase and save it in a safe place;
- Go to the section with the coin, click Receive and copy the address to receive DOGE (it will be required at the stage of setting up the software).
Step 3: Install Dogecoin mining software
If you use video cards for DOGE mining, you will need to download and install software miner. If you work with ASICs, then the necessary software is included with the device. The general setup looks like this:
- Download and install mining software or connect the miner to your computer;
- Enter or create a login and password to access the miner interface;
- Set up the miner.
Step 4: Connect your equipment to the pool
To connect equipment to the pool:
- Go to the website of the selected pool;
- Copy URL addresses and port numbers to connect to the pool and enter them in the miner interface (or configuration file);
- Create a worker (required in some pools, such as Binance Pool).
Step 5: Start the mining process
After the connection setup is completed, you need to go to the miner interface and start mining.
Pros and cons of Dogecoin mining
DOGE is a meme coin that is in the top 10 cryptocurrencies by capitalization. To operate the Dogecoin network, it uses the PoW consensus algorithm. Although the scope of application of DOGE is still limited, the coin is known for its large, close-knit community and is one of the favorite cryptocurrencies of the head of Tesla Elon Musk.
DOGE is a popular cryptocurrency among miners. Today, the hashrate of the Dogecoin network is very high, so the most relevant way to mine coins is to use ASIC miners. It should be noted that there are no lots of large pools that allow you to mine DOGE specifically, but the coin is often mined by parallel mining with LTC.