Cryptocurrency is the trending topic of these days apart from COVID-19. The bullish market of the crypto and the introduction of Dogecoin by Elon Musk to his space project has made it famous among the general population and many people have invested in it lately without proper research and knowledge.
To invest in any currency, a basic idea and knowledge is required. Nowadays, many people follow blindly to the advice of others and same is happening in Crypto market where investors are investing without any prior knowledge or research. So, have accumulated some data today for every one about Dogecoin.
Cryptocurrency is the new form of digital money or asset which is operated by Blockchain technology. It works as a medium of exchange wherein individual coin ownership records are stored in a ledger & that technology is Blockchain. Dogecoin is also the type of cryptocurrency which was created for payment system as a joke.
Cryptocurency is a very wide topic, and cannot be described in one article so here, we will discuss how a dogecoin can be mined.
How cryptocurrencies are produced?
Like with physical cash, the number of cash produced is equal to the quantity of gold they have in their region. In cryptocurrency producing process, we put power-electricity and resources so that we can earn or produce cryptocurrencies. All this happen with simple process called Mining. Mining is simply solving a crypto hash.
To know the technical process of producing hash value Click here to read.
If you are a beginner, don’t start mining and overuse this method, this may cause a hardware failure. Mining causes a GPU to produce lots of heat, which can cause the GPU to prematurely fail if not properly ventilated, If you don’t know how DON’T DO IT!
In this article, we will share with you one of the easiest methods to Mine Dogecoin on your own PC. I will show you step by step
1. How To Mine Dogecoin,
2. How To Create a Dogecoin Wallet to Receive your coins, and much more. Enjoy!
Process 1: Mining of Dogecoin
First step is to open the ‘Unmineable’ website.
After the website is opened, tap on Dogecoin icon. And go to download and right click on the download button as shown in the pictures and save the link on the desktop (Right click and tap on ‘save link as’).
In the second step, unzip the folder and open it.
(Important Note: All the miner folders will be detected as Virus by the Antivirus software. You need to turn off the antivirus to use the miner application or use another PC specifically for Mining Process.)
After running the installation process, set-up will ask to choose one between GPU or CPU. Choose one and press ‘NEXT’ .
Following the first box, you have to put ‘DOGE‘ as you want to mine Dogecoin, and on the address section box, you have to add your Dogecoin Wallet address. (Below we have mentioned all the necessary steps to create Wallet(Process 2) and where to find wallet address).
After adding the wallet address to the application, the miner start mining the Dogecoin and the same address can be used on Unmineable to check the current mined Dogecoin value.
Below you will find the steps to create Wallet(Process 2) and where to find the wallet address and to add the wallet address to the setup box and Start mining Dogecoin.
Process 2: How to Create Dogecoin wallet
Log on to the Dogecoin website and create your wallet. So, that you can link your Dogecoin wallet address to Unmineable. Down below, you can see the procedures to create a Dogecoin wallet.
1. Choose your Wallet
Pick a Wallet from our Wallet Section. A Wallet is used for holding your Dogecoins directly on your Computer/Smartphone.
2. Configure your Wallet
After downloading, you can configure your Wallet according to our Guide.
3. Get Some Dogecoin
There are numerous amounts of ways to get Dogecoin. You can buy them, trade for them, get tipped, “mine” them, and more. They are surprisingly endless!
CHOOSE YOUR WALLET
You have to sync with the blockchain to use Dogecoin. MultiDoge is a “light” wallet. It syncs with the blockchain by “skimming” through the blockchain, providing fast sync times. Dogecoin Core, on the other hand, is a “full” wallet. It syncs by downloading it, providing a solid-working wallet.
Make sure to download Dogecoin Core. Select the desired version (32bit or 64bit). Click and download the application exe file. Install the Exe file and open it.
Following steps shown in the image will show the wallet address. (Example : Click “File” and then tap on “much receiving addresses..”
Mining of Dogecoin can be seen on its website. Mine Dogecoin can be traded via an online cryptocurrency platform. For example, “AnyCoinDirect” or “Kraken” can be used to trade the coins. You can create an account and start trading on such platforms.