How to get and earn Dogecoin (Dogecoin, DOGE)

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The Dogecoin altcoin was created in 2014 as a joke, without any practical purpose, but has become quite popular and has a strong community. Its cost has always been at a low level, while capitalization, on the contrary, is at a high level. At the end of January 2021, the Dogecoin rate exceeded its all-time high and climbed to $ 0.0875, and the market capitalization exceeded $ 10 billion.

The growth of the course is associated with mentions on Twitter – first, the user WSB Chairman wrote about it, and then Elon Musk. Musk had mentioned Doge several times before, and the course has always grown since then.

Read also: how to buy Dogecoin.

Where can you buy Dogecoin

There are several main ways to get DOGE by buying this coin for fiat money or other cryptocurrency:

  1. Cryptoexchanges. Such platforms as Binance, Currency.com, EXMO, Huobi, FTX, Crex24, Yobit work with the asset. Binance and EXMO require identity verification to buy cryptocurrencies with fiat money funds. EXMO also requires this for the deposit / withdrawal of cryptocurrencies.
  2. Exchangers. Baksman, Prostocash, 60cek, Xchange, YoChange, MChange and many other exchangers provide the opportunity to buy dogcoin. The full list can be seen here https://www.bestchange.ru/visa-mastercard-rub-to-dogecoin.html (choose the payment direction you are interested in).
  3. p2p platforms. Bitzlato is one of the few that supports DOGE. Allows you to find a counterparty and buy an asset without intermediaries.
  4. Wallets. Many wallets in which you can store a coin also give you the opportunity to buy it directly from your bank card.
  5. Telegram bots. The DOGE_CHANGE_BOT bot from the same Bitzlato, as well as bots of various exchangers, will help you buy cryptocurrency using the messenger functionality.
  6. Cryptomats. Selecting the Dogecoin coin on the map https://coinatmradar.com/, you will see if there is a cryptomat near you through which you can buy this currency for cash. At the moment, there are such ATMs in Moscow, Kiev and large cities of other countries.
Getting Dogecoin through the Bitzlato p2p exchange

How to get and earn Dogecoin

There are two main ways to do this: mining or cryptocurrency faucets. The first can provide a more substantial income, but it also requires significant efforts and investments. The second is available to absolutely everyone, but it gives very little income.

How to mine Dogecoin

Mining Doge is getting harder over the years than it was originally. The Scrypt algorithm is designed to be ASIC resistant, but manufacturers have found a way to get around this resistance. Now, those using processors and video cards are forced to compete with ASIC miners. In addition, to counter the 51% attack, the Dogecoin developers integrated the AuXPoW mechanism, which allows DOGE to be mined in parallel with other coins, which also increased the difficulty.

Due to all these changes, trying to solo Dogecoin using a CPU or GPU will not give the desired profit. However, you can mine more or less efficiently as part of a mining pool – but most likely only with ASICs.

What you need to get started:

  • good unlimited internet;
  • high-quality wiring that can withstand high power;
  • sufficient cooling in the room (fans, air conditioner);
  • directly equipment, for example, ASIC Bitmain Antminer L3 ++.
Mining dogcoins on ASIC Bitmain Antminer L3 ++

You also need a power supply in the event that you opted for an ASIC, with which it does not come in the kit.

The potential profitability of the process should first be assessed; mining calculators will help you with this. A popular option is the WhatToMine calculator. Also, get a wallet for DOGE, we’ll talk more about them in the corresponding section.

To start mining:

  1. Connect the ASIC to electricity and internet.
  2. Choose a mining pool for Dogecoin. Good options: Multipool, Aikapool, Prohashing, Litecoinpool.
  3. Find in the settings of the router (by writing 192.168.1.1 in the address bar of the browser) the IP address of the ASIC.
  4. Log into the ASIC web interface. The default username and password should be root, but may differ depending on the device model – check the documentation for it.
  5. Enter your mining pool details. Enter the URL and password of the mining pool (both provided by the pool). Where it says Worker, enter the Dogecoin wallet address.

After saving the changes, you will need to wait a few minutes, and then, if everything is done correctly, the hash rate should be displayed in the miner status tracking section.

Cranes for earning Dogecoin

In the cryptocurrency industry, a faucet is a site that distributes coins to users for free, a small amount at a time. The main focus of such resources is to help newbies get their first cryptocurrency.

The coins are really given away completely free of charge as the site is supported by ad revenue. But the frequency of their receipt is limited – for example, once every five minutes, an hour or a day. The longer you need to wait, the greater the amount received.

Many faucets pay automatically to the FaucetPay wallet. You should register in it, bind the Dogecoin wallet address and indicate it on the faucets.

Current DOGE cranes at the beginning of 2021:

faucet for earning dogcoins AutoClaim

DOGE storage wallets

With a wallet, you can store, receive and send Dogecoin. Safe storage is a key factor in dealing with any cryptocurrency. There are several types of wallets that are suitable for this purpose (mobile, desktop, hardware, etc.); of them, several of the most convenient and reliable options can be distinguished:

  • Ledger Nano X. A hardware device that is equipped with additional functions in the form of Bluetooth, a high-quality screen, and a large amount of memory. The cost is about $ 150.
  • Guarda. Multi-platform wallet with a simple interface. It can also work from a browser.
  • Atomic Wallet. Supports over 130 cryptocurrencies and a built-in atomic exchanger (that is, one that allows you to swap assets running on different blockchains).
  • TREZOR One. Another hardware wallet that provides a high level of cryptocurrency protection from hackers and malware.
TREZOR One hardware wallet for storing Dogecoin and other currencies

Coin prospects

At the moment, Dogecoin enthusiasts from Reddit have set a goal to raise the coin above $ 1. The crypto market got excited at the news that the WallStreetBets community behind the GameStop stock pump is targeting Dogecoin (DOGE). However, the group strongly denies this fact.

When Twitter user WSBChairman posted the message “Has Doge ever been to a dollar?”, Although this user has nothing to do with WallStreetBets, his account gained 400,000 followers and sparked renewed interest in Dogecoin.

Many analysts are predicting that Dogecoin will become the leader among altcoins in 2021 and could very well hit $ 1 in a bullish rally. It is noted that every bullish trend in the entire crypto market over the past five years has been accompanied by a sharp rise in Doge. While the current Dogecoin rally looks mysterious, some see it as a sign of growing retail interest in the cryptocurrency market. Many in the bitcoin space cite Dogecoin as the reason they entered the field.

Conclusion

In the world of cryptocurrencies, unexpected and unforeseen events often happen. The growth of the Doge exchange rate and capitalization in a matter of hours can be attributed to such events. Of course, this may be a temporary surge, and then the price will stabilize again. But it could also be a step towards further popularizing digital assets. One way or another, now you know how to earn and get dogocoin in order to keep this promising asset or use it for trading.

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