The Dogecoin blockchain network uses the same system to add new blocks to its decentralized ledger as well as to reach agreements between its network participants, such as Litecoin, Bitcoin, and other cryptocurrencies. Interested to try Dogecoin cloud mining?
You may be wondering, is Dogecoin mining as profitable as Bitcoin mining? Dogecoin mining can still be profitable, especially thanks to the recent surge in prices. Find out first about cloud mining before trying it directly.
Getting to Know the Method Dogecoin Cloud Mining
You can dogecoin by doing various mining methods. One of the most popular ways to mine Dogecoin is the cloud mining method. Cloud mining is not really a Dogecoin mining activity.
Basically, cloud mining involves leasing computing power from a data center. Miners will pay a subscription fee per month or per year, depending on the contract agreement between the miner and the cloud mining service provider.
The selected coins will then be mined in the center via the mining pool. The amount of mining revenue sharing itself will depend on the computing power that you have paid for.
Weaknesses and Strengths of the Cloud Mining Method
Mining Dogecoin using the cloud mining method has several drawbacks. The main drawback is that some of the contracts are time locked. This means that miners can lose their money if the price of Dogecoin drops.
A drastic drop in the price of Dogecoin to below the cost of electricity and operating costs associated with mining could result in huge losses. But that doesn’t mean Dogecoin cloud mining has no advantages.
The advantage of cloud mining is that it is the same effectiveness as the mining pool method. Miners also do not need to have special hardware. Dogecoin miners need a Dogecoin wallet.
Cloud Mining Service Provider for Dogecoin
There are many cloud mining service providers that you can choose to mine with the cloud mining method. Some of these providers are the best and you can trust. Below are 2 Dogecoin mining provider services that you should prioritize.
1. Genesis Mining
To use Genesis Mining services, you can visit the website at www.genesis-mining.com. The website provides an Indonesian language option which makes it easier for visitors to understand the contents of the website and can mine more comfortably.
Since its establishment in December 2013, Genesis Mining has become a mining service provider site for various cryptocurrencies that you can trust. Currently, Genesis Mining already has facilities in various countries such as Iceland and Sweden.
Genesis Mining’s customers come from more than 100 countries and have reached 2,000,000 miners. There are more than 10 cryptocurrencies that can be mined with 6 major mining algorithms.
This Dogecoin cloud mining provider site that you can also trust. Nicehash also provides applications that you can download and run on mobile devices with iOS and Android operating systems. Nicehash app you can get from Play Store or App Store.
Dogecoin isn’t the only cryptocurrency you can mine online. There is Bitcoin, Litecoin, and various other types of currencies that can be mined easily thanks to the presence of mining services such as Dogecoin cloud mining or Bitcoin cloud mining.
But before choosing which coins to mine online, you need to understand the character and development of each type of cryptocurrency. Visit mediaauthority.co to gain a deeper understanding of the various cryptocurrencies you wish to mine.