Dogecoin may not be as valuable as Bitcoin, but it is just as popular. It is a peer-to-peer cryptocurrency that was created in 2013 and has since gone on to become one of the most popular altcoins available today.
Dogecoin’s spectacular rise over the first half of 2021, as a result of Tesla’s CEO Elon Musk’s promotion in the recent past, has unsurprisingly led to significant interest in dogecoin mining as mining profitability spikes to a new six-year high.
Dogecoin mining is possible with any PC or laptop, and there are many pools to choose from. In this post, we will discuss 7 of your best options for 2022!
What Is Dogecoin Mining?
Dogecoin (DOGE) is a decentralized digital currency, which means banks and other central authorities do not have any control over others’ finances. Dogecoin does not have any intermediary but uses miners to validate transactions. They record every valid Dogecoin transaction on their copy of the ledger and transmit it across the network for other miners and nodes to update their records.
A batch of transactions is written in a file called block, which is created by miners by solving cryptographic problems. The miners are rewarded with a small number of coins for each transaction they process. The DOGE is mined by people who use their own computers.
7 Best Dogecoin Mining Pool Options
For crypto enthusiasts who would love to make consistent returns from dogecoin mining, there are a number of excellent options to choose from.
Below you will find seven pools that have proven themselves as some of the best dogecoin mining pool options in 2022.
Aikapool
Aikapool is the most popular dogecoin mining pool, created in 2013. This pool has a robust infrastructure of servers to ensure stable performance and reliability. Aikapool charges no fee for use but does have an additional requirement that users must register with their email address to be able to participate.
The PROP system rewards miners, and there are no withdrawal limits. Aikapool operates at around 70-80% PPS (Pay Per Share), which seems to be the point of equilibrium for most dogecoin miners.
Litecoinpool
Litecoinpool is a platform that has a very transparent reward system – PPS (Pay Per Share). It’s a decentralized pool as it has no servers or central authority to manage the mined coins. Litecoinpool charges 0% fees, and there are no withdrawal limits, but miners will only get paid out in LTC if they have had at least one share confirmed during that round of mining. Litecoinpool protects its miners with a TLS-encrypted stratum connection.
1CoinPool
Advantages of 1CoinPool
1CoinPool operates two mining pools – Litecoin and Dogecoin. They have a transparent fee structure, and there are no fees for withdrawals. 1CoinPool mines three blocks per week and uses the proportional payout system. This means that the miners are rewarded proportionally as per the hashing power. Furthermore, the coins get automatically added to the wallet.
Multipool
Multipool DOGE stats
Multipool offers to mine a variety of cryptocurrencies, including Dogecoin, Litecoin, and Verge. The payout made is, however, in DOGE. Multipool charges a mining fee of 0.25%. The advantage of using Multipool is that it is apt for merged mining, where you can simultaneously mine Dogecoin and Litecoin without losing on hash power.
Prohashing
Prohashing mining pool stats
Prohashing was founded in 2013 and maintains a huge network of crypto miners from across the world mining various cryptocurrencies. The pool charges no fee and has an average block time of about one hour. It is one of the oldest pools when it comes to mining Dogecoin and, as such, has a significant share in its hashing power. The Prohashing mining pool is transparent, stable, and easy to use.
Genesis Mining
Genesis Mining dashboard
Genesis Mining offers the ability to mine Bitcoin, Litecoin, and Dogecoin. You can receive your earnings on a daily basis sent directly to your wallet. Additionally, there are no hidden fees to pay – you pay a fixed price for the hash rate you want to rent, and it is yours for a period of one year. Furthermore, there is an option to be paid in Bitcoins (BTC) as well. The platform automatically mines the most profitable coins for you and exchanges them for Bitcoin (BTC).
GHash
GHash is a Bitcoin mining pool. It was founded in 2013, and it is one of the largest pools for both bitcoin (BTC) as well as Litecoin (LTC). Along with Dogecoin (DOGE), it enables the mining of a wide range of crypto coins like Ethereum, Bitcoin, and Litecoin.
Closing Thoughts
Due to the recent price surge, Dogecoin can help you earn consistent returns. However, you need to have powerful hardware to do so. Furthermore, you should be smart about cashing out – either by converting your DOGE rewards into fiat currency or stablecoins. What’s important is that you should be mindful of balancing your risks and rewards.
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