DogeCoin (DOGE) Cloud Mining Services
Dogecoin Cryptocurrency Review: Pros and Cons
Dogecoin is one of altcoins created in 2013 by a Japanese Shiba Inu dog, which went viral through an internet meme. It is a peer to peer digital token which descended from bitcoin. Dogecoin became a top ten coin in the market as of September 2017, with various online exchanges offering DOGE/BTC (bitcoin) and DOGE/LTC (litecoin). At the same time, as many several altcoins are trying to get much bigger than just a simple currency transaction platform, Dogecoin is attached to its roots as is currently used on platforms such as Twitter and Reddit to hint other users for funny posts, information or anything that seems to be hint-worthy. Dogecoin was not even in existence prior to December 2017. Its first day of trading was December 8th and on that day there were almost 5,000 unique Dogecoin transactions, this is less than 10% of Bitcoin. Furthermore, Dogecoin outdid Bitcoin trading, and by December 20th, it had hit the highest point of 200,000 transactions, this was a weeklong increase of 935%.
Dogecoin As The First Step in Cloud Mining
Even though most users of Bitcoin are buying up currency just to hoard it as a result of its fluctuating value, Dogecoin users are utilizing the medium for trade purposes and the transaction chain will small in value is high transaction numbers, thus making it a great coin to get into as one of your primary altcoins. Dogecoin is good for users who would like trade with friends, generally to test out what cryptos can do devoid of spending too much money. Unlike other cryptos, it gets you into the game without fixing you on transactions.
Preferably, Dogecoin can be mined by utilizing cheap electricity and a bunch of graphic cards. Though, you can begin mining Dogecoin even by use of one PC. Mining can also be done without the use of graphic cards; however the progress will be much slower. The performance of your computer on the default settings should not be affected by mining coins, given that it will only use computing or graphics power when the system is idle. The use of a laptop for mining coins is not usually advisable; this is because a laptop is not powered 24/7, the CPU/GPU power is lower, also there is a greater possibility of stressing out the chips on the laptop since they are normally packed into a tighter space, thus at more risk of overheating. A laptop can do the job if you just want to mine for a short while and get a few coins to play with. When it comes to hardware efficiency, AMD graphic cards are much better than Nvidia graphic cards, and both are better than CPU mining.
Solo Mining vs Pool Mining
Mining rewards are often spontaneous. Basically you are searching for blocks, solving then confirming the block for a reward. Presently, the payout is up to 1,000,000 coins per block, but as time goes by the reward max amount is halved. This is how it works, the first user to find and confirm the block gets the full payout of that block then everyone else has to move on. Faster searching and confirming is credited to having stronger hardware.
In the long run, if you are at 0.001% of the power overall, you ought to get ~0.001% of the payout overall; less possible to find and confirm blocks, but acquire 100% of the block payout when it happens. However this is a hypothetical long term view and smart shibes will collaborate with other shibes and split the rewards. It is better to get steady and frequent payouts so team up. In order to team up with other shibes, you can either join a pool or join a p2pool.
Profitability of Dogecoin Mining
At the beginning of 2018 dogecoin was one of the best substitute scrypt-based cryptocurrencies to mine as compared to LTC; it is on the rise again. If you are presently mining LTC directly, then it is time to reconsider and begin mining dogecoin and afterwards sell the DOGE for LTC. In simple terms, this means that by mining dogecoins you can end up with twice the profit as compared to directly mining LTC at this moment and the profitability might even go higher than that.
Another dogecoin mining profitability is mining the dogecoins and trading them for LTC and that the LTC complexity will not rise as much and actually may even drop for a bit, thus it will be easier to mine Litecoins when DOGE is not that profitable to mine any longer. Hence this is a win-win situation for sure you get nearly double profit and will make LTC easier to mine in the future.
Advantages Of Dogecoin Mining Using Cloud Services
- Hashing commences immediately: Escape the warranty headaches, noise, and expensive electricity bills.
- Flexible: you can start mining even with just one gigahash. You can trade and transfer hashrate with no difficulty.
- Stable: Mining operation on a global scale 99.9% uptime assured.
- No bitcoin mining tools to sell when bitcoin mining is no longer lucrative.
Best Dogecoin Cloud Mining
This dogecoin mining website’s rigs run 24/7 so a mining day starts at 0:00 UTC and ends at 23:59:59. 8 hours following the mining day the payout report is available on Genesis Mining platform after their calculation and checks. The payouts are acknowledged daily automatically, the first one is sent within 48 hours after starting the contract. Credit card payouts are suspended for a month due to security measures in order to protect the company from credit card charge backs, but afterwards the contracts are paid out on a daily basis as well, in the meantime users can follow accrued earnings on the platform.
The cloud mining company agrees to wire transfers in EUR and USD, though they charge an extra 10 EUR commission fee on purchases that are below 50 EUR. MasterCard and VISA are also accepted methods of payment; however they apply a 3000 USD limit per daily purchases of these. Because of customer protection, on the accounts where hashpower is bought using credit cards, there is a 14 day holding period when the accrued mined currencies cannot be withdrawn from the account. The instant payouts are reflecting on those accounts where the hashpowers are acquired from bitcoin.
One PACMiC contract is sold for 1 bitcoin, which involves 6 TH/s hashing power. The contract only becomes active when the full payment is received. The site then puts out a list of users’ nicknames who have bought hashing power last time under the PACMiC contracts. The least likely amount to purchase from the PACMiC is 1 GH/s and users are required to wait up until other users fill up the contact with their payments prior to start of earning revenue.
After subscribing to this service, you will be offered daily the benefit of the ordered power, which will be supplied from apparatus located in the data centers of our partners. The service fee is inclusive of the cost of a one time allotment of ordered power; however you will also pay a day by day maintenance fee for the equipment and its power supply. The contract will be terminated if for three days there is not enough money in the client’s balance for a daily payment.
Choosing a Cloud Service for Dogecoin Mining
Firstly, you decide which provider you want to go along with. The next step is to determine which deal you want to go for and for what term. Most Bitcoin contracts go for a year; although some can be never ending. There are some providers who propose shorter and in-between length Dogecoin contracts of between 6 — 24 months.
Dogecoin Mining Options Without Investments
- Amerty: Sign-up bonus of 100 GH/s,
- CoinMix: Sign-up bonus of 1 GH/s. You will also receive random bonus every day in your account,
- CryptoMining: Sign-up bonus of 10 GH/s,
- CryptoMiningFarm: Sign-up bonus of 15 GH/s,
- DogeMining: Sign-up bonus of 1 GH/s.