From Bitcoin to Dogecoin, virtual currencies have exploded in popularity over the last few months.
Bitcoin has been around for quite some time, but it didn’t really become public knowledge until it skyrocketed in value late in 2013.
There are a number of virtual currencies – also known as cryptocurrencies – available today, but Bitcoin and Dogecoin are the most popular. Dogecoin was only created within the last few months and somehow emerged as the number one alternative in the cryptocurrency market.
These currencies tend to have something in common: they need to be mined. What does that even mean? These currencies are set up like this:
-There are a set number of Dogecoins and Bitcoins in the world
-These coins need to be “mined” in order to be activated
-Mining virtual currencies is a time-consuming process that requires a lot of processing power
-You can mine virtual currencies on any computer device
-Mining virtual currencies gives you a piece of a coin, not necessarily an entire coin
How to mine
There are a number of different ways to mine virtual currencies. Today, I’m going to tell you how to mine Dogecoins on your Android device (however, the apps listed below can be used to mine all sorts of different cryptocurrencies)
-Before mining Dogecoins, you’ll want to setup your own Dogecoin wallet by installing the Dogecoin Wallet app
-Next, you’ll need to join a Dogecoin mining pool. A list of pools can be found here
-View a list of all the coin miner apps here: https://play.google.com/store/search?q=coin%20miner&c=apps&hl=en
-As you can see, there are plenty of different mining apps competing for your attention. Most of the good mining apps cost between $1 and $2. All of the best apps let you mine Bitcoin, Litecoin, Dogecoin, and other major alternative currencies.
Still need help getting started? Read through this guide, which takes you through all of the nuances of joining a pool, mining, etc. : http://www.reddit.com/r/dogemining/wiki/index/mining_guide
Much productive! So excite! Getting your virtual currency mining process started today isn’t as hard as you might think.
Not as powerful as mining coins with your PC
No matter how powerful your Android smartphone may be, it’s not going to be as effective at mining Dogecoins as a good old PC. PCs have more processing power, which means they can mine more quickly. But if you want to maximize every single bit of processing power you have, then by all means, continue mining Dogecoins on your Android.