If the volatility of cryptocurrency investing is too much for you but you still want to benefit from the new economy, starting a small home cryptocurrency mining operation may be the right choice for you. Although the reported returns are high, we caution against “cloud mining” as every crypto cloud mining offer we have seen is a scam.
Which crypto should I mine?
The easiest cryptocurrency to mine does not require building a massive crypto mining facility. Although it was initially possible to mine Bitcoin using laptops and desktops, increasing mining difficulties as well as the emergence of hardware specifically designed for Bitcoin mining using application-specific integrated circuits (ASICs) have made it nearly impossible to mine Bitcoin profitably at home to mine the computing power of a PC or laptop. However, crypto mining from home is still an option for other popular cryptocurrencies in 2023. In this article, we’ll highlight many popular options – with some guides to get you started.
Dogecoin (DOGE)
| Market capitalization: 21.8 billion | Average daily volume: 2.5 billion+ |
Although the digital currency started based on a meme, Dogecoin (DOGE) was popularized by Elon Musk and has grown into an altcoin with a sizable user base. DOGE is designed to add new coins every year, unlike Bitcoin’s limited supply. This is an additional incentive for anyone who mines it.
How to mine Dogecoin
To mine DOGE, first make sure you have a wallet where you can store your earnings. You can download the Dogecoin core wallet or search for other suitable online wallets on the website. When…
