Mining Dogecoin: review, best pools and faucets, programs: Dogecoin (DOGE) is called a fun currency. At first, the token was perceived as a humorous fork of Luckycoin. When the coin overtook Zcash in terms of capitalization (in 2017), even the most skeptical analysts began to take the token seriously.
Today Dogecoin (Dogecoin) -mining is gaining momentum: the owners of ASICs and farms brought the emission figure to 116.71 billion DOGE with a capitalization of $ 444.41 million.
History of origin
The coin was released in 2013 – a presentation took place on December 8. The name is taken from the name of a popular character – the dog “Doggy”. The creator of the cryptocurrency, IT engineer Billy Markus, wanted to emphasize the friendly goals that the dogecoin community will pursue (as opposed to Bitcoin, which was initially associated with the sale of drugs).
Subsequently, the currency emblem flaunted on the sports car of NASCAR racer Josh Wise and on the uniform of the Jamaica bobsledder: fundraising was organized online (the amount was more than $ 50,000).
As a fork of Luckycoin (a Litecoin derivative), Dogecoin provided a random reward for a block that was solved, but since 2014 the payout has become fixed. At the time of the issue, the limit was 100 billion, at the moment there are no restrictions on the issue.
Milestones in history:
- On December 20, 2013, Dogecoin grew 300 percent in 72 hours, from $ 0.00026 to $ 0.00095.
- On December 22, 2013, the Dogecoin price dropped by 80% due to miners actively connected to the issue.
- In December 2013, Dogecoin set a record for the number of daily transactions, surpassing all popular cryptocurrencies (including Bitcoin) by more than 2 times.
- At the end of 2014, there were already 98 billion coins in circulation – the project announced the lifting of the emission limit.
- As of October 1, 2017, the turnover was 111 billion coins with a capitalization of $ 126 million.
- Capitalization in May 2018 rose to $ 333 million.
Description of the coin – capitalization, value
To date, Dogecoin’s capitalization is $ 444.41 million and is ranked 25th in the rating. The cost of one coin at the end of 2018 hovers around the $ 0.04 mark with 10% weekly volatility.
- algorithm – Scrypt with AUX-PoW;
- total in circulation 116.71B DOGE;
- average daily volume of transactions $ 13.33M;
- artificial inflation threshold – 5% per year.
Dogecoin’s average daily volume is higher than Litecoin, Zcash, DASH.
Differences from Litecoin:
|Formation of a new block||60 sec||2 min 30 s|
|Block award||10,000+29,68 DOGE||25 + 0,03172 LTC|
|Block size||12,8 KB||71,4 KB|
|Blockchain capacity||25 GB||13 GB|
How to mine Dogecoin
Dogecoin mining is possible in the following ways:
Mining on a processor can be done on a regular PC using special programs (for example, CPUMiner). Today the method has lost its relevance due to the increased complexity of calculations.
Mining on a video card involves the use of the power of video cards (GPU mining), from which farms are assembled – specialized computers with several GPUs (4–12 pcs.).
Browser mining is the provision of their own computing power to services that load the PC core through the browser (a variant of CPU mining). A distinctive feature is the lack of investment.
Cloud mining allows you to use productive equipment on a lease basis. For Dogecoin, equipment can be rented on pool sites.
ASIC mining is the most productive way, which consists in using specialized devices – ASICs, created specifically for a specific mining algorithm.
By the type of activity, mining is:
- solo mining;
- mining in the pool.
Solo mining is an individual solution to computational problems, mining in pools is a collective load distribution. With the growth of competition and the complexity of Dogecoin computations, solo mining has lost its relevance, since it is available only to owners of large equipment.
Pool (pool – fund, union) – a centralized server that distributes calculations between users. Together, the miners solve the block, and the pool awards a reward depending on the degree of participation.
Another way to earn cryptocurrency is using crane services that pay for performing simple tasks on websites (solving captchas, watching ads).
Mining software is designed for GPU farms or computers with powerful video cards.
Dogecoin (Scrypt) cryptocurrency software:
- SPHsg Miner;
- Vert Miner;
On the computer
Mining on Dogecoin computer will not bring a lot of profit. You can use a video card, computer processor, or visit a browser mining project.
The processor must be of the latest generations with 4+ cores (better than 8+). Program for mining Dogecoin on a processor – CPUMiner.
The application works with different operating systems. Setting up mining involves changing the bat-file – you need to register the personal address and port of the pool, Login and Password for the worker.
On the video card
Dogecoin mining can be done on a video card. AMD cards are preferable as they have more shader units. You need to install the miner program. The most popular are CGMiner (better suited for AMD GPUs) and CUDAMiner (for NVIDIA GPUs):
- CGMiner. OS: Windows, Linux, OS X. The software is a managed console with open C-code. Processes overclocking data for video cards. Supports the use of a proxy server.
- CudaMiner. OS: Windows, Linux. The software is written for NVIDIA video cards (for more details, see the GTX video card reviews). One of the best options for mining popular cryptocurrencies. The commission is 2.5%.
Dogecoins4free service offers Dogecoin browser mining. It is very easy to start mining – you need to register, create an account and click StartMining. To deactivate, you can select Mining> Manage Mining> Disamble (Enable) Mining. Settings include the choice of the number of involved processor cores (2-4) and the mining power (10-100%).
The history is updated every 5 minutes. You can earn Dogecoin on the project website using taps. Tasks are mainly captcha guessing.
The CoinPot service allows you to combine micropayments in different currencies. You can create a wallet with two-factor authentication to store Bitcoin, Litecoin and Dogecoin. Currencies can be exchanged among themselves at the internal rate.
To mine coins, you need to register an account with a partner project:
- Moon Bitcoin;
- Moon Dogecoin;
- Moon Litecoin;
- Bitcoin bonus;
- Bit Fun.
For Dogecoin – Moon Dogecoin. In the settings, you need to set the number of cores and power for Dogecoin, click StartMining.
The FaucetHub service allows you to store the minimum amount in cryptocurrencies with the establishment of a multi-wallet. The project presents the most profitable dogecoin faucets with instant payment:
- AleksCoin10 – 0.12-5 DOGE every 10 minutes;
- AleksCoin30 – up to 1.5 DOGE every 30 minutes;
- DinoVing – up to 1 DOGE every 5 minutes;
- PremiumDoge – up to 0.33 DOGE every 5 minutes;
- CryptoClaimer – 0.3 DOGE every 5 minutes;
- AlinaFuacet – 0.15 DOGE every 3 minutes;
- MMBit – 0.13 DOGE every 2 minutes;
- Harena – 0.06 DOGE every 5 minutes;
- ClaimDoge – 0.035 DOGE every minute.
Pools for mining DOGE
Connecting with a pool of miners is a real way to earn cryptocurrency. Pools indicators for selection:
- minimum withdrawal;
- the number of workers.
It is worth paying attention to the functionality of the following:
- types of security protocols;
- range of coins;
- the presence of wallets in the structure of the service.
By the number of participants, you should choose the middle – these should be promoted projects, but also not very large ones with suitable equipment requirements. It is important to take into account comments and user reviews (in the comment column, email name, on the forums).
The largest mining pool for Dogecoin. The commission is 1%. Time payments – every 2 hours. The downside is the lack of a Russian-language interface.
The pool operates on three algorithms: SHA-256, Scrypt and X11. In addition to DOGE, you can mine LTC and VIA on Scrypt. DOGE hashrate is about 6000 MH / s. The service provides cloud ASIC equipment for rent.
The project provides its own Coming wallets, you can register and use the wallet to store or transfer cryptocurrencies. Has a high rating among dogecoin pools. Payouts can be configured automatically. Convenient analytics section – shows statistics on mining efficiency for different periods.
The service has been operating since 2013, has an adjacent exchange project with profitable chickens. It is possible to produce Cloud Mining at ASIKs. A wide range of coins, except for DOGE: you can mine BTC, ETH, LTC.
Comparison of mining pools, Dogecoin:
|Name||Hashrate, MH / s||Number of available workers||Minimum Output, DOGE||Withdrawal fee, DOGE|
Cranes for earning DOGE
In crane mining, Dogecoin confidently ranks third among currencies after Bitcoins and Litecoins. The essence of earning is to complete the task on the crane portal and receive a reward in the selected currency.
Dogecoin currency faucets:
- FreeDoge . A simple way of mining – you need to enter a captcha in the issued tasks. Collection every 3 hours. Withdrawals are possible only once a week (on Sunday).
- Doge-moonefaucet . Earnings in DOGE and BTC. Collect loot every 20 minutes. Withdrawal from 500 DOGE.
- DogeFaucet . Accumulation every 45 min. with an average earnings of 1-10 DOGE. Withdrawal from 150 DOGE.
Algorithm of actions for mining Dogecoin
You need to decide on the equipment for mining. The best option would be ASIC – the investment will be about $ 1500 and will pay off in 1-1.5 years. A farm with video cards is also fine, you can use a computer with a powerful video card.
- Create a dogecoin wallet. You can do it on the official website of the dinfo project, you need to click Create Wallet on the main page. The wallet will be local. You can use crypto-exchanges, exchangers where the conversion is immediately carried out – at the Ethereum rate, even exchange Bitcoin for rubles.
- Select a pool. Solo mining is practically inaccessible to ordinary users: obtaining a high hash rate, equal to the indicators of the pools, requires huge costs.
- Install a miner program on your computer. The main options are CUDAMiner for NVIDIA graphics cards and CGMiner, SGMiner for AMD cards.
- Configure the program.
- Start mining.
Setting up a mining program
After downloading the miner, you need to right-click on the folder with the files and create a text file by rewriting the .bat extension (usually start.bat). Next, you need to enter a file string.
Using the Aikapool pool for NVIDIA video cards as an example:
ccminer-x64.exe -algo=neoscrypt –o statum.aikapool.com:7915 –u Login –p Password.
For AMD graphics cards:
sgminer –o statum.aikapool.com:7915 –u Login –p Password.
After -o comes the address and port of the pool, then the login and password in the system. Passwords may differ for different workers, depending on the service.
The mining process is activated by running the exe file. If everything is done correctly, the console opens with the hash parameters.
Income can be monitored in the pool account by specifying the worker index. To withdraw, you need to register the wallet number in the Withdraw section. Commissions can be viewed in statistics.
Dogecoin cloud mining consists of renting equipment at specialized sites.
Algorithm of actions for the example of the cloud mining service EOBOT:
- Create an account on the project website.
- Generate a wallet in the Deposit> Generate section.
- Select and order the required capacity.
- Select Dogecoin from the main menu.
- Click StartMiming.
- Enter the wallet address in the Withdraw section.
Withdrawal fee for Dogecoin is 1 DOGE, with a minimum payout of 100 DOGE.
Is it worth investing in DOGE
Investing in cryptocurrency is one of the savings options. 2019 made it possible to put everything in its place and cool the ardor of the crypto fever. The entire market is at the bottom – the most favorable time to buy assets.
DOGE last took off in the first quarter of 2017. Then a series of events followed:
- The arrest of Ryan Kennedy, a British crypto scammer, creator of the exchange, exchanger, DOGE pool in July 2017.
- Palmer’s March 2018 statement on market glut with cryptocurrencies, digital assets and tokens.
- Strengthening measures of the Chinese authorities to suppress the circulation of cryptocurrencies in August 2018.
Today, analysts’ opinions about investments in DOGE are contradictory: some talk about a possible fall against the backdrop of a decrease in cost, others – about the rise of the fork market.
In any case, Dogecoin is a popular currency. Tokens are accepted in stores, the coin is present in the calculations of Internet portals. DOGE can always be exchanged for Bitcoin.
Mining will be profitable:
- when using a farm with 6-13 video cards;
- when using ASIC equipment.
The best option would be to use an ASIC, the most popular versions are:
|Bitmain ASIC AntMiner S1||Up to 180 GH / s||200 W|
|Bitburner Fury||Up to 100 GH / s||200 W|
|AsicMiner Block Erupter Cube||38.4 GH / s||250 W|
You can use the yield calculator to calculate. The profitability will depend on the course, the cost of electricity and the complexity of the calculations. On average, the income is $ 20-30 from ASIK and allows you to recoup your investment in equipment in 12-20 months.