What is Dogemining Paid?
Before we begin let us understand Cryptocurrency. It is an intangible substance valued against money. A series of codes and other such complex words make up a coin/token. Then, based on demand and supply, other market forces, popularity etc. These assets make movements and attract investors. One such coin is Dogecoin. It is important to learn about Dogecoin before understanding Dogemining Paid.
Dogecoin
It is a coin with the symbol of a dog and the backing of the richest man on Earth. The coin goes by a lot of names, but Doge is the most popular variant and while it originally came out as a meme coin it now has set its eye on becoming a Bitcoin slasher. But that’s not all there is to sing praises of Doge: the coin has amassed some serious fan following ever since its launch and has been growing rapidly. In fact, the coin is positioned in the top 100 cryptocurrencies on Binance, which is one of the largest crypto exchanges around. So far a lot of people have become millionaires by purchasing this coin at the right time and exiting similarly and the year 2021 was especially a huge one for Dogecoin where it touched its all-time high valuation. Compared to one year ago, the coin is now available for the price of peanuts and yet there is a strong belief among staunch believers and predictions by a lot of credible people that the price of the coin will see the light of the day again and it will again churn out quite a few millionaires, it’s all just a matter of time. Now let us learn more about Dogemining Paid.
What is Dogemining Paid?
It is a service provider that provides you with the hashpower required for mining Dogecoins. We told you coins can be acquired without you purchasing them and that it needed something better than your normal average PC or device that could power through the complex process of crypto mining without being attacked or damaged. As you can see, their official website claims that they are a recommended platform and receive backing from none other than Mr. Elon Musk himself. You can be a small investor, a big investor, or any other kind of investor; here you can get the necessary hashpower that you need to mine Dogecoin. Investors can deposit Dogecoin, Bitcoin, Perfect coin, Litecoin, ETH or cash and can get hashpower of varying levels. There is one 10-day plan and seven 30-day plans that users can choose from.
You can deposit 100 Dogecoins and get 1000 Dh/s for 10 days. For 500 Dogecoins you can get yourself 5,000 Dh/s for a period of 30 days. Next up is 4,500 worth of dogecoin plan where you get 45,000 Dh/s for 30 days. Post that for 10,000 Dogecoins you get a 1,00,000 Dh/s plan for a duration of 30 days. If you want 5,00,000 Dh/s for 30 days then you need to pay a deposit of 50,000 Dogecoins. Next, you get a 10,00,000 Dh/s plan for 30 days by depositing 1,00,000 Dogecoins. Amp it up 5 times and for a 50,00,000 Dh/s plan for a duration of 30 days, you need to deposit 5,00,000 Dogecoins. And lastly, for 30 days of the 1,00,00,000 Dh/s plan, you will have to deposit 10,00,000 Dogecoins.
Dogecoin Mining
Dogecoin mining, like paid mining, is not a new phenomenon that popped up overnight nor is Doge the only coin that can be mined. Bitcoin and Ethereum are the world’s top 2 crypto coins, and can also be mined by solving complex codes. Monero, Ravecoin, Litecoin, Zcash, Bitcoin Gold, Vertcoin, Ethereum Classic, MonaCoin, Ethereum (ETH), and Bytecoin are some of the other coins that you can mine. While Bytecoin is the easiest to mine and can be mined at home, Monero is the coin that is the most profitable one to mine. Quite a few coins can be mined right from your home PC and Dogecoin too can be mined right at your home on your device, but it is always better to make sure you use a device that is superior to your average electrical gadget and has the necessary software and safety measures taken to ensure you don’t end up damaging your device. Now let us learn about Paid Mining and how Paid Mining can be used.
Paid Mining
To earn some you have spend some, paid mining is just that. Nothing good comes for free in this world. Above we have broken up the necessary plans that you would have to sign up with in order to be able to mine Dogecoin. When mining, you also need to be sure of the fact that your device does not catch a virus and you don’t end up inviting a hacker to your server. In that case, you not only lose the hard-earned coin you can also lose private data stored on your device. Paid mining may seem tricky but with time you can master it and use it to make good money.
Dogecoin Price
There is a chance that the Dogecoin price may vary by a minute margin when checking across various apps, but that is not very bothering at least if you are a small investor. In India, you can check the price of Dogecoin on various apps like WazirX, Binance, CoinDCX etc. As of now, the price stands at 4.99 rupees and is in red because it has fallen from a higher value.
Reasons to Invest in Dogecoin
After learning about Dogemining Paid, let us break down some reasons why you should buy some Dogecoin.
One of a kind
Back in 2013 Dogecoin became the first and only meme coin to make its way to the market and its symbol, which is a Shiba Inu dog, took the internet by storm and there was a lot of fanfare and ultra-positive reactions towards it. While today, it is not the only meme coin nor the only coin to use the Shiba Inu dog as its symbol, it still is the number 1 of its type and you stand a good chance to make a significant profit from it.
Famous
Bitcoin is the only big coin that can boast of more popularity than doge. Apart from it, Ethereum, Cardano, and various other top coins can’t match the popularity of Dogecoin and this can also be verified by checking its Subreddit followers of each coin and without a shock, Dogecoin comes second.
Media Phenomenon
Doge is an internet superstar in its own right. Elon Musk has the power to move the coin’s price by a single tweet and the market has seen an example of it numerous times. In fact, one time in July 2020, ‘take Dogecoin’s price to $1’ was trending and though the target could not be achieved the movement on that day was more than huge.
Elon Musk Himself & Other Celebs
When you have such a huge personality backing an asset you have more than enough reason to believe in a coin and if that’s not enough then you should know that so far the highest price that Dogecoin has been valued at also came because of Elon Musk. If Elon wasn’t enough you now have Mark Cuban, Snoop Dogg, and other top people who also support Dogecoin. In fact, a sports team owned by Mark Cuban allowed the fans to buy their tickets using Doge which again opened to a rousing response.
More Acceptance
First, the celeb’s backing increased, and now the places where don’t is accepted in place of cash has also increased. In Las Vegas, you can use Dogecoin to get on Loop, Tesla cars can be recharged by paying in doge. Clothes and other stuff are purchasable using Dogecoin and the number of utility and supporting merchants is only expected to increase.
Purpose
Dogecoin, other than being the Bitcoin slasher, also has plans to become an alternative to cash and it is well on its way to achieving this feat. Now, you surely don’t want to be missing out on such a trend and it is better not to.
Comeback
Not only is the price comeback on the cards for Dogecoin but the team behind the coin, which had left in 2020, also returned back in 2021. This made two huge additions to their team which is again a piece of positive news for the coin and its future plans.
Easy mining
When a comparatively new coin like done can beat Ethereum and Bitcoin in any stat it is surely one huge achievement. And that field is low energy consumption because of which Doge can be mined at home but for the other two coins, that’s quite a bit challenging.
On the Rise
July 2022 saw big investors pick up big chunks of Dogecoin and if you want to take a hint then take it quickly because we know this means only one thing. Also Read: Top 15 Cryptocurrencies to Invest other than Bitcoin
Drawbacks of Dogecoin
Every fairy tale has an opposite side and the other side of investing in Dogecoin should also be clear before you try Dogemining Paid. Here are some cons of Dogecoin.
Media
Sometimes what carries you all the way up also becomes the reason for your downfall and that is exactly the case with doge. Hardcore fans might be ignorant, but a neutral investor will tell you to proceed with caution when dealing with Doge because of the volatility and the fact that one tweet has enough power to send its value crashing.
Inevitable fall
Any and every investment will see ups and downs and done is no different. So far the coin is being traded in huge volumes and is adapting to the changing times and that is what is keeping it floating but when Dogecoin price does stagnate the coin will see a fall like never before.
Behind in Line
Bitcoin is where it is due to its superiority over doge. Be it the more preferred crypto as a payment for service, an available quantity which is less for Bitcoin making it more attractive, strong fundamentals, number one ranking, launch year which was 4 years before doge, valuation, popularity etc. Doge has a long race to run before it can even come close to challenging Bitcoin, but many believe that it does not have as much steam to even achieve half of what Bitcoin has.
Bubble
A lot of people have their worries as they see doge’s rise as a bubble. Be it social media, Elon, retail investors, or any concerned party that is involved, the common sentiment shared by a large group of people is that they expect the bubble to burst sooner or later and are thus calling for investors to avoid investing in doge.
Those who already have Dogecoin and are worried about losing their money, should sign up for Dogemining Paid and deposit their Doge to get a nice hashpower plan for themselves and mine some coins to average their holdings so that they can sell it off for a small profit. Those who are now considering buying doge, they should learn about Dogecoin mining and paid mining compare the cost involved with respect to the Dogecoin price, and then take a call as to whether it is better to mine the coin or purchase.
Make sure you do thorough research before investing in any kind of cryptocurrency. Keep reading MoneyMint for more crypto-related as well as other finance-related tips.
