ApeCoin (APE) is the governance token of the Bored Ape Yacht Club (BAYC) ecosystem, with added utility thanks to the addition of a metaverse and Yuga lab's various partnerships. 

The launch of ApeCoin (APE), the token of 

 Bored Ape Yacht Club (BAYC), generated a great deal of commotion in Mar 2022. To NFT advocates, ApeCoin wasn’t viewed merely as a token, but as the symbol of NFT evolution driven by BAYC, which became a household name at the peak of the NFT boom. 

Yet it could not escape the controversies that marred its launch. On top of that, in Jul 2023, the floor price of BAYC fell to a devastating low, which led many to question the value of the APE token.

In this article, we'll take an in-depth look at ApeCoin and various ApeCoin controversies, and consider whether ApeCoin is still a good investment for the long haul.

 token developed primarily for the Bored Ape Yacht Club (BAYC) ecosystem. Valued highly by NFT collectors and Bored Ape 

 owners, it's also marketed as a decentralized protocol layer for community-led initiatives.

For those wondering exactly what ApeCoin is, it’s a governance token of the Bored Ape ecosystem that’s gained a tremendous following after the 

 (BAYC) NFT project exploded in popularity. Many celebrities — such as Justin Bieber, Paris Hilton, Snoop Dogg and Serena Williams — own collections of NFTs related to the BAYC ecosystem.

While some may discount ApeCoin as a meme coin, its utility goes far beyond just being the governance token for Bored Ape holders, due to its expanded ecosystem that includes NFTs and a metaverse. This ultimately makes ApeCoin a potential long-term investment for those bullish on the BAYC ecosystem.

ApeCoin is the utility token of BAYC. Since BAYC is an NFT project initiated by 

, the coin is technically its brainchild. Two of the four founders behind the development of the BAYC ecosystem are Floridians 

According to the official BAYC website dedicated to ApeCoin, the coin has been launched and is overseen and managed by ApeCoin DAO. This 

 is an independent body, governed by Bored Ape NFT owners, holders of related NFTs and ApeCoin investors. In other words, whoever owns APE coin or a Bored Ape NFT has the right to vote on proposed changes to the protocol and new projects.

Overseeing the DAO is the Ape Foundation, which ensures that ideas from the DAO community are brought to fruition. The Ape Foundation is headed by five high-profile crypto investors, each of them selected for a one-year term. The current heads, also known as the Special Council, go by the handles of Bored Ape G, Gerry, Vera Li, Waabam and CaptainTrippy. Waabam and CaptainTrippy were voted in by the ApeCoin DAO to replace Reddit co-founder Alexis Ohanian and Animoca Brands chairman Yat Siu, 

 — the platform behind ApeCoin and its flagship NFT Bored Ape Yacht Club — first launched BAYC in Apr 2021. After BAYC’s popularity exploded, Yuga expanded its NFT collection to include Mutant Ape Yacht Club and Bored Ape Kennel Club.

In 2022, Yuga Labs sought additional pathways to integrate ApeCoin into different projects related to the BAYC ecosystem. First, it launched a gamified metaverse, 

, which uses ApeCoin in its ecosystem. Secondly, it acquired two of the most popular NFTs, 

, expanding the use of ApeCoin. CryptoPunks are some of the first non-fungible NFTs on the 

 blockchain, consisting of 10,000 digitally pixelated characters. Similarly, The Meebits are 20,000 unique, 3D voxel characters registered on the Ethereum blockchain.

 (BAYC), consists of 10,000 unique cartoon ape NFTs on the Ethereum blockchain. BAYC burst onto the scene with a boom, garnering high-profile support from celebrities like Justin Bieber and Madonna.

 (MAYC) is a collection of 20,000 ape NFTs based on BAYC. The apes are essentially a mutant version of the Bored Apes. Hence, BAYC owners can actually create their own MAYC NFTs through a smart contract that applies Mutant Serums to their Bored Apes. With three types of serums available, a BAYC owner holding a single Bored Ape NFT can create up to three different Mutant Apes. Ten thousand Mutant Ape NFTs were made available for public sale, while 10,000 Mutant Serums were also airdropped to existing BAYC holders.

 is a collection of 9,602 cartoon dog NFTs launched in Jul 2021. Yuga Labs made these complementary NFT pets for BAYC holders, though the BAYC owners have to spend gas fees in order to mint them. While the pet NFTs all boast distinctive traits, each one is depicted as a Shiba Inu, a canine breed popularized by dog-themed meme coins such as Dogecoin (

Introduced one year after the establishment of BAYC, 

 is a 3D metaverse created in collaboration with Hong Kong-based game software company 

. Otherside offers users the ability to build their own unique realms featuring Otherdeed NFTs that represent land plots with the remarkable ability to evolve over time. 

The Otherside metaverse is split into an 11-part storyline that gives users a compelling narrative gameplay experience. As a fantastical landscape, Otherside combines elements of a cosmic expanse and a peninsula, brimming with an array of peculiar creatures, valuable resources and elusive treasures. All transactions in Otherside are driven by ApeCoin (APE).

The potential use of ApeCoin isn’t limited to governance. As mentioned earlier, Apecoin is also the utility token powering the Otherside metaverse that promises to expand the BAYC universe.

Animoca Brands is also working with Yuga Labs to integrate ApeCoin into its portfolio of blockchain-based games, traditional games and other products. 

, a free-to-play action-adventure mobile game featuring an adorable monkey named Benji and his friends leaping through jungles, allows its players to earn ApeCoins.On Mar 17, 2022, Animoca Brands 

 players could earn tokens to exchange for ApeCoin as it transitions to a play-to-earn model on Ethereum.

Starting from Dec 2022, APE can also be staked. On Dec 5, APE holders will be able to deposit their ApeCoin funds on 

, to begin accumulating from Dec 12. During the first year, 100 million APE are being distributed into staking pools as rewards, split into 30,000,000 tokens for the ApeCoin Pool, 47,105,000 tokens for the Bored Ape Pool, 19,060,000 tokens for the Mutant Ape Pool and 3,835,000 tokens for the Pair (BAKC) Pool. 

There are four ways to stake your ApeCoins:

Note that if you choose to sell your NFT while it’s staked in the respective pools, all your staked rewards will go to the new owner. Therefore, it’s crucial to unstake your NFT before selling it.

ApeCoin’s total supply is capped at 1 billion tokens, distributed among four main groups as follows: 

, there’s a 12-month lockup for Yuga Labs, launch contributors and the founders of BAYC. After 12 months, a specific number of tokens will be unlocked on a monthly basis. For the DAO treasury, a portion of 470,000,000 tokens was unlocked at launch, while the rest will be unlocked over 48 months. Since not all of the tokens are unlocked yet, not all of the ApeCoin tokens are in circulation. As of Jul 12, 2023, ApeCoin has a circulating supply of 

Now that we understand what ApeCoin is, it's time to discover the ApeCoin DAO. 

 is the decentralized governing body behind the BAYC ecosystem and ApeCoin. All APE holders are members of the ApeCoin DAO, and share voting rights.

 Anyone can become a member of the DAO by purchasing an Ape NFT.

According to its founders, the ApeCoin DAO's primary purpose is to give its members power by respecting their wishes. Based on the community guidelines and desires of the wider BAYC community, the DAO proposes various projects through the APE Improvement Proposal process. After the ApeCoin DAO votes on a proposal, the 

 is then tasked with executing the decision.

Despite its glittering launch, ApeCoin has also been fraught with controversies. Let’s take a closer look at some of the disputes in which it’s been embroiled.

ApeCoin experienced its very first controversy during its launch day for its token distribution structure, which favors insiders and BAYC founders, who will eventually get 22% of all tokens. Similarly, Yuga Labs will receive 16% of all the proceeds. Moreover, nearly 14%, constituting 140 million tokens, was distributed to launch contributors, many of whom were said to be venture capitalists. Hence, critics assert that the ApeCoin DAO may not be as decentralized as they claim. 

Furthermore, on the day of the launch, the price of ApeCoin spiked to $40 per share, but quickly plummeted to $8, which led to many suggesting that there might have been insider trading.

There were also security issues surrounding the 

 mechanism typically used before a token airdrop to ensure that only loyal long-term NFT holders are eligible. This allowed anyone to buy the NFT just before claiming the reward, making it vulnerable to a 

Indeed, an exploiter actually managed to borrow a BAYC NFT on 

 for less than $300,000 as collateral to use as a flash loan from a vault that tokenizes NFTs. They then used the flash loan to redeem more Bored Ape NFTs and claim 60,564 APE — which they then sold for over $800,000.

 In Oct 2022, the startup behind ApeCoin, Yuga Labs, 

 as to whether ApeCoin and its Bored Ape NFTs were unregistered securities. Although Yuga Labs wasn’t charged in the probe, APE’s price couldn’t escape the fallout from the report, and its price fell by over 10% in just 24 hours. 

ApeCoin faced another backlash from its community for the disproportionately high salaries of its DAO leaders. This internal disconnect caused APE’s price to plummet by 28% within a week, as it hit a low of $2.08 in Jun 2023.

On Jun 10, 2023, the ApeCoin DAO secretary, Vulkan, posted an organizational chart of the ApeCoin DAO leadership infrastructure, detailing the monthly salary for each mentioned role. In particular, the Special Council members’ salaries jumped out to the public with their five-figure number. Many web3 users questioned the high wages, which added up to a six-figure annual sum.

Special Council members Yat Siu and Vera defended their substantial salaries by drawing comparisons to public company directors and emphasizing the value they contribute. 

Furthermore, Special Council member Bored Ape G stressed that they’ve been helping with the decentralization of the DAO through the 

, which also helped the DAO to save on costs, thereby producing evident results.

However, to many critics in the web3 sphere, true decentralization would mean that everyone in the community gets to vote for the salary of those in the Special Council, instead of their salaries being decided by a small group of people. 

ApeCoin is priced at $1.92 as of Jul 12, 2023, which is 92.8% lower than its ATH of $26.70 on Apr 28, 2022, and 3.72% higher than its ATL of $1.85 on Jul 7, 2023. 

Despite the ongoing controversies and the NFT market crash, many experts remain relatively optimistic on APE’s future. 

 a minimum increase of up to $4.57 in 2025, hitting a maximum of $5.59 and followed by a sharp rise to exceed $30 by 2030. DigitalCoinPrice anticipates a 

, reaching a maximum of $7.02 in 2025 and potentially crossing $20 in 2030.

Taking into account all this information begs the question: Is ApeCoin still a good investment? 

While ApeCoin may have had a stellar debut, garnering interest and support from many celebrities, its sky-high value was unable to hold. Furthermore, the recent price crash illustrates its inability to sustain its long-term value and suggests that ApeCoin is more of a hype. Hence, despite relatively favorable outlooks regarding its price prediction, it may not be a good investment in the long run. Specifically, as the controversies surrounding its associated NFT continue to swirl, ApeCoin’s future will remain murky.

Even as the ApeCoin DAO attempts to add more utility to the token by creating the Otherside metaverse, its exact use cases remain unclear, even within the metaverse game. As the metaverse continues to evolve, however, and the token's use cases begin to take shape, ApeCoin may still see positive growth in value should the metaverse truly gain traction. However, this in turn depends on whether its flagship NFT, BAYC, can pull through the current NFT market slump.

Investors who are bullish on the NFT comeback and willing to take risks might still consider ApeCoin a good investment — since, after all, BAYC is still far more valuable than countless other NFTs.

Note that these views should not be taken as investment advice. It’s crucial to do your own research before investing in volatile 

ApeCoin's recent controversies and price drop makes it an unappealing investment for now. Still, if there’s a resurgence in the popularity of NFTs (BAYC in particular), ApeCoin would likely see a rebound in its price as well. Investors comfortable with taking risks might view this as an opportune moment to buy ApeCoin. Nonetheless, risk-averse investors are advised to exercise caution and consider avoiding this token.

Beginner

What Is ApeCoin (APE): The Rise and Fall of the BAYC Token

Optimus AI is a crypto asset project that aims to build a community around Elon Musk's Optimus robot development and incubate AI projects through the Optimus Venture Fund.

. This high-profile project involves a humanoid robot that runs on Tesla's Autopilot software and sensors. According to Musk's promises, the robot will have full artificial intelligence (AI) capabilities and be a mass-produced robot capable of performing everyday tasks. Of course, many experts greet these claims with some skepticism, especially with his record of ambitious ideas that don’t come to fruition.

However, even if you aren't an Elon Musk fan, you can't deny that his ideas can spur the most innovative crypto projects. And the new Optimus AI project may just be one of them.

While not officially affiliated with Tesla or Elon Musk, Optimus AI is a crypto asset project designed to pay homage to the Optimus robot and Musk's AI plans. Optimus AI has two primary objectives: building a community centered around Musk's robot development, and incubating promising AI projects through the Optimus Venture Fund. 

Optimus AI currently provides three community-driven AI tools that aim to spread awareness of Musk's Optimus robot and AI in general: an AI chat featuring Elon's Pet (@OptimusEthBot); the Tesla AI Image Generator, which generates all sorts of Optimus-related images with AI prompts; and another AI chat headlining Optimus's wife (@OptigirlEthBot). 

 with a fairly straightforward tokenomics system. The total supply for Optimus AI tokens is 100 million. These tokens were released at launch, after which Optimus AI's creators burned their funds to turn over ownership to the community. The end result is that the token has a circulating supply of roughly 85 million.

To help support community development, Optimus AI has a robust taxation system. A 3% tax on buying and selling tokens goes toward marketing, token development, CEX listings and service hires. There are plans to lower the tax to 0% as the Optimus AI crypto develops. In addition to these taxes, 0.5% of every transaction goes into the community-led Optimus Venture Fund.

As of Apr 27, 2023, Optimus AI's current price is $0.30, with a market cap of $26.1 million and a 24-hour trading volume of $1.43 million. This is 48% lower than the Optimus token's highest price at $0.59 on Apr 14, 2023, and around 19% above the coin's all-time low of $0.26 on Mar 15, 2023.

Since Optimus AI was first released on crypto asset service providers in early March 2023, the coin has been very volatile. Optimus AI’s prices have fluctuated between around $0.55 and $0.30. Most experts believe this volatility isn't going away in the next few months. 

Many predict that the token's average price will gradually increase in the long-term future, but there’s a lot of disagreement about how well OPTI will do. 

 suggests that OPTI may reach around $0.70 by 2024 and hit $2 within the next three years. However, 

s that the token will be worth around $0.40 in 2024, and rise slightly to $0.65 by 2027. 

Ultimately, Optimus AI is for now a mere 

 without any utility. It's not built on any underlying service or made to fulfill some technological goal. Instead, its entire purpose is simply to create a community around the Optimus robot project, and provide Elon Musk with more support. Therefore, most of the token's success will entirely rely on whether or not Musk delivers on his plan.

Overall, the Optimus AI crypto isn’t a safe or reliable investment. Only put money into this coin that you can safely lose. Though this coin is certainly risky, that doesn't mean it's an investment everyone ought to avoid. If you have some extra funds to play around with, it might be worthwhile to experiment with trading OPTI.

Not only are there chances of the token's price spiking alongside positive news about Optimus, but there’s also the possibility of Optimus AI developing into a promising crypto community. Optimus AI is currently in Phase 2 of its road map, which includes adding more educational AI features to its platform. In Phase 3, the platform plans to use the Optimus Venture Fund to invest in AI projects and share profits with the community. If it manages to succeed in these plans, Optimus AI could become a crypto with value outside of its connection to Elon Musk. 

At a glance, Optimus AI seems like another run-of-the-mill meme coin created to profit off Elon Musk's latest technical innovation. Created by a group of Elon Musk enthusiasts and named after a Tesla-based robot, Optimus AI has little going for it at the moment. However, the platform's plan to collect taxes for a venture fund and pivot into AI investment does have some promise. Cautious investors with extra funds to spare may consider adding a small amount of OPTI to their portfolio.

Optimus AI (OPTI): Empowering the Future of AI

Baby Doge Coin was created as an attempt to hitch on the hype of Dogecoin. But how sustainable is this coin? Find out now.

Since the emergence of Bitcoin in 2009, there have been many other competing crypto assets created, generally referred to as 

. These altcoins are differentiated from Bitcoin by their new or extra capabilities. Some examples include 

, which features a faster processing time.

One altcoin making the headlines is the Baby Doge Coin (BABYDOGE). Since its launch on Jun 1, 2021, the altcoin has undergone turbulent price swings, surging by approximately 2,800% after just one month. However, over the next few months, the price of Baby Doge Coin dropped back to its original price range. More recently (over the last quarter), its price has surged by 159%.

Why has the market suddenly renewed its interest in Baby Doge Coin? Will its popularity withstand the test of time — and should you invest in this variation of yet another canine crypto coin? 

Stay till the end to learn how to earn more Baby Doge Coins with Bybit Türkiye!

 is a crypto asset token created by fans of the popular Dogecoin online community. The name is probably an attempt to hitch a ride on the cult-like following of its parent, 

. But that’s where the similarity ends. 

 token that was built on Binance Smart Chain. Benefits include higher efficiency and processing speed, which translates to lower transaction fees for users and completion of transactions within five seconds.

A smart staking system has also been designed to reward 

ers by increasing the amount of BABYDOGE in their wallet every time a Baby Doge Coin transaction is completed. More info regarding this system will be described in the Tokenomics section below.

With no real-world use, Baby Doge Coin’s appeal lies in its focus on charity. Its white paper states that Baby Doge seeks to fulfill the missions of rescuing dogs in need and bringing crypto asset to the average person.

Baby Doge Coin has stayed true to its mission, donating to many organizations that primarily help dogs in need, with donations exceeding $300,000. Some of the most prominent donations made include:

420 quadrillion Baby Doge Coin were initially launched to the market. Out of this supply, 125 quadrillion Baby Doge Coin have been burned. The development team continues to burn BABYDOGE tokens monthly, managing the supply and potentially increasing the demand.

Baby Doge Coin has a smart staking system to incentivize Baby Doge holders to HODL for longer periods, which will help keep the Baby Doge network active. A 10% transaction fee is implemented when HODLers sell their Baby Doge Coin, half of which is redistributed to Baby Doge Coin holders in a process known as 

. Since the token holders get a share of the fees charged for each transaction, they’ll be hedged even when the price of Baby Doge Coin falls. 

The other 5% is used to provide liquidity on BNB Chain for trading, half of which remains as Baby Doge Coin while the other 2.5% is swapped to Binance Coin (

). These two tokens are then deposited to the BABYDOGE/BNB liquidity pool on 

 to provide liquidity for the trading pair. This allows more people to trade between Baby Doge Coin and Binance Coin.

, BABYDOGE rose to prominence when Elon Musk mentioned the “Baby Doge Coin” in a tweet. Less than a day later, the value of Baby Doge Coin leapt. Its tagline is, “If you like Doge, then you’ll love Baby Doge.” The token clearly hopes to piggyback off of Dogecoin’s popularity. 

Baby Doge Coin and Dogecoin are both crypto assets which have had their fair share of fame among crypto enthusiasts. Dogecoin has enjoyed a much longer history (created in 2013), and more prominence as one of the top traded crypto assets per 

. Baby Doge Coin, on the other hand, seemed to take a nosedive after its initial foray into notoriety. 

Let’s take a look at their differences.

As of Apr 11, 2023, Baby Doge Coin has a market cap of $379 million, while Dogecoin’s market cap stands at $11 billion, ranking it eighth in the crypto asset market. We can conclude that Dogecoin’s rise to fame hasn’t been a temporary one. 

Given that Baby Doge Coin has a limited supply and undergoes monthly burning events, it’s considered to be hyper-deflationary. Dogecoin, on the other hand, has no limit to its token supply and is considered hyper-inflationary.

As of Apr 11, 2023, BABYDOGE price is reading at $0.000000002419. It’s up by 0.3% over the past 24 hours, with a trading volume of roughly $4.5 million.

We can see that over the past month, Baby Doge Coin has been picking up in terms of price action.

Keen on buying Baby Doge Coin? It‘s now listed on Bybit Türkiye’s Spot Trading platform. Just 

 to get started. But that’s not all. To celebrate this new listing, Bybit Türkiye has launched 

 that will allow you to receive even more Baby Doge Coin.

Deposit to Earn From a 20 Trillion BABYDOGE Prize Pool

Simply accumulate a net deposit volume of 40,000,000,000 BABYDOGE into your Bybit Türkiye account from now till Apr 18, 2023, 8:00AM UTC to earn 10,000,000,000 BABYDOGE. 

Please note that rewards will be distributed on a first-come, first-served basis to the first 2,000 users.

Swap to Earn From a 12 Trillion BABYDOGE Prize Pool

From now till Apr 18, 2023, 8:00AM UTC, complete these three simple steps to earn an equal share of the prize pool.

Buy at least 8,000,000,000 BABYDOGE on Spot.

: Transfer at least 8,000,000,000 BABYDOGE from Bybit Türkiye Spot to any wallet connected to 

Fill in your Bybit Türkiye UID and Bybit Türkiye Wallet address 

Keep in mind that Baby Doge Coin was initially hyped by a tweet from Elon Musk. While tweets may not necessarily be enough to sustain a token’s value, a strong community forms the foundation for high-performing crypto.

To play it safe, invest only an amount you’re comfortable losing. In other words, an investment in Baby Doge Coin is likely high-risk, given the token’s volatility. The bull case would be that while Baby Doge Coin is still unestablished, it’s time to get on board and try to ride DOGECOIN’s coattails. 

Baby Doge Coin is a token that’s relatively fresh to the crypto market. BABYDOGE holders may benefit from the recent attention, but the future of this coin is highly speculative. Before you make an investment, make sure you have a good understanding of Baby Doge Coin’s history as well as its pros and cons.

Intermediate

Why Is Baby Doge Coin (BABYDOGE) Gaining Hype in the Crypto asset Market?

Learn to maximise your rewards for mining Dogecoin – the three different ways to mine and the software and hardware needed.

Few cryptos have attracted more controversy, hype and humor than (Elon Musk’s beloved) 

 (DOGE). Yet, against the backdrop of jokes, memes and skepticism, Dogecoin has not so quietly risen to the top ten crypto assets by market cap. Importantly for crypto miners or those considering this trade, Dogecoin is among the most profitable coins to mine.

Dogecoin was launched in December 2013 as a 

The coin is the only mineable crypto asset among the top ten cryptos, aside from the leading duo — Bitcoin and Ethereum.

Dogecoin is considerably faster and easier to mine than Bitcoin. It also has a lower mining difficulty — as measured by the hash power required to solve a new block — than 

 or just about any other mineable crypto asset in the top 100 by market cap. In short, knowing how to mine Dogecoin might be the safest route to profitability for a crypto miner in 2022.

The Dogecoin mining process is quite similar to that of Bitcoin or other 

 (PoW) blockchains. Miners try to solve a computational puzzle by using the hashing power of their computers in the race to add a new block of transactions to the chain.

The miner’s reward for each solved block is 10,000 DOGE (about $700 as of the time of writing). Unlike 

, Dogecoin doesn’t use reward-halving in its current mining mechanism. However, halving did apply in the early years of the coin’s operation. Before January 2015, the miner’s reward was halved quite frequently — once every 100,000 blocks, which worked out to about once every 69 days.

The last reward halving occurred in January 2015. The coin’s governance rules specified that there would be no more halving after that date.

How Long Does It Take to Mine One Dogecoin?

The Dogecoin chain is configured to produce one new block of transactions per minute. This is ten times faster than Bitcoin’s block time of around 10 minutes. In practical terms, this means more frequent rewards from Dogecoin mining, a nice feature for those who like frequent — even if small — wins.

At the rate of one block per minute, the Dogecoin network adds 1,440 new blocks per day, producing 14.4 million DOGE (around $1 million) in miner rewards on a daily basis.

 Given that there’s no more reward halving scheduled for the future, this daily amount of DOGE will continue to be steadily added to the coin’s total supply, which currently stands at around 132 billion DOGE.

The coin also doesn’t have any supply capping, meaning that the 14.4 million daily DOGE will be available to mining enthusiasts for the life of the coin.

The difficulty score is the standard measure used to estimate the computational requirements for mining a coin. It specifies the number of hashes a machine needs to produce in order to solve a new block. 

Dogecoin currently features the lowest difficulty score out of all the leading mineable crypto assets.

 This means that mining a new Dogecoin block will require less computational power than mining a block on any other reasonably well-known chain.

The table below shows the current difficulty scores, in ascending order, for all the mineable coins in the top 50 crypto assets by market cap.

The mining difficulty scores as of June 27, 2022, for the top 50 coins (Data Source: WhatToMine)

While the difficulty scores may fluctuate over time, as of now, in mid-2022, the results in the table clearly indicate that Dogecoin is by far the easiest notable coin to mine.

There are three main ways to mine Dogecoin:

Each of these options has its own merits, although solo mining without a very powerful mining rig has become impractical due to the increased competition on the chain. 

To perform solo Dogecoin mining, you join the Dogecoin network as an individual node and use your mining rig to solve transaction blocks. If you do manage to add a new block to the chain, you’ll receive the 10,000 DOGE mining reward without having to share it with anyone else. This is the main advantage of mining solo.

The key disadvantage of mining Dogecoin individually is the infrequency and inconsistency of rewards. Solo miners compete with mining pools, entities that combine the computing resources of a large number of miners to solve new blocks on the network. The combined hash power enjoyed by the mining pools puts solo miners at a disadvantage.

As a solo miner, if you don’t have a powerful machine, you might end up never getting a block reward. Even with a powerful mining rig, you would likely have to wait for weeks or months on average between your block rewards.

Dogecoin mining pools represent a convenient and flexible alternative to mining solo. They pool resources from multiple miners to increase the chance of solving a block of transactions. When a member of the pool manages to mine a block, the 10,000 DOGE reward is split between all the pool participants.

Each member receives a share of the reward proportional to the hash power contributed. Thus, as is the case with solo mining, it pays to have as powerful a rig as possible when joining a pool. Mining pools retain a small percentage of the reward, typically anything between 0.5% and 4%, for providing their services.

For miners without powerful rigs, mining pools might be the only realistic option for earning rewards. Naturally, rigs without significant hash power are likely to earn very little in any mining pool. However, you’ll at least have some funds flowing in on a consistent basis. In contrast, mining solo without a high-end rig will likely lead to no rewards earned at all.

For miners with powerful machines, pool mining may be a good option for earning rewards in a more stable way. Such miners can still be successful, on occasions, via solo mining. However, mining pools represent a way to earn rewards with a much higher frequency, even if in smaller bits.

Let’s say a miner with a high-spec rig manages to earn a full block reward of 10,000 DOGE once a month on average. By joining a pool, they can earn that amount consistently in smaller chunks on a daily basis over the same period.

In other words, joining a pool might not increase the overall profitability of your mining activity over a long-term period, but it will definitely allow you to earn a more consistent income. 

As a rule, the larger the pool you join, the more frequent and consistent your rewards.

There are dozens of large or medium-sized pools mining Dogecoin. However, just a few large pools typically solve the majority of the blocks on the network. Currently, the two largest ones among them are

The German-based ViaBTC is the current leader on the network by the number of recently mined blocks. If you’re looking for the most consistent reward schedule, this pool could be a great option. The pool offers 

 of Dogecoin coupled with Litecoin mining. With merged mining, your rig’s hash power is used to mine two crypto assets at the same time. By mining Dogecoin and Litecoin in this way, you increase your earnings without having to contribute any additional hash power.

Currently, the second-largest pool on the Dogecoin chain by the number of blocks mined is litecoinpool.org, another good option for miners looking for high reward consistency.

As its name suggests, this pool is largely dedicated to mining Litecoin. Dogecoin mining is offered in the merged mining format, together with Litecoin.

A big advantage of litecoinpool.org is the absence of any fees. Among the leading Dogecoin pools, litecoinpool.org is the only one with zero fees.

The third option for mining Dogecoin is using a cloud mining provider. Under the cloud mining model, you simply pay a monthly or yearly fee to a service provider that “rents” you computing hash power.

The cloud provider mines crypto asset for you in exchange for the fee, and gives you a share of the mining profit commensurate with your rented hash power.

 doesn’t require you to own any mining equipment, a big advantage compared to solo mining or pool mining. In essence, you simply pay a fee with the expectation of positive returns from the cloud provider.

Naturally, your earnings might fluctuate, depending on the network activity and mining difficulty on the Dogecoin chain. While the fee you pay to the cloud mining provider is usually fixed, your returns are normally variable.

The major drawback of Dogecoin cloud mining is the scant choice of reliable service providers. Many cloud mining providers don’t support Dogecoin mining, and prefer to concentrate on Bitcoin or Ethereum mining.

Among the more well-known companies that offer Dogecoin cloud mining are 

. Dogecoin mining is supported on these platforms in the merged mining format together with Litecoin.

With regard to the hardware required for Dogecoin mining, you have, in theory, three main options:

1. 	Using your computer’s processor, or central processing unit (CPU)

2. 	Using your computer’s graphics card, or graphicsal processing unit (GPU)

3. 	Using a dedicated application-specific integrated circuit (ASIC) machine, a computer specifically designed for mining crypto asset

 The most basic way to mine Dogecoin is by using your computer’s CPU. However, in 2022, mining Dogecoin with a CPU, even a powerful one, is likely to be an arduous chore with little chance of success. Although Dogecoin’s mining difficulty is much lower than that of other leading PoW coins, competition among miners on the chain has intensified over the last couple of years.

Theoretically, you can still use your CPU for Dogecoin mining. However, most miners are interested in knowing how to mine Dogecoin profitably. Unfortunately, no CPU is going to be up to that task.

 — Your chances of success are much higher with a machine fitted with a powerful GPU. However, the intense competition among miners has already made profitable GPU mining quite difficult as well. For example, one of the most powerful mining GPUs on the market, the AMD Radeon VII, will only allow you to break even — that is, to earn zero profit per day with the current estimates of Dogecoin mining profitability.

 — Using an ASIC machine gives you the best chance to derive profit from Dogecoin mining. ASIC machines are powerful computing systems built solely for the purpose of crypto mining. They’ve been popular in Bitcoin mining for many years.

Unfortunately, if you own a Bitcoin ASIC rig, you won’t be able to use it for Dogecoin mining. This is because Bitcoin and Dogecoin use different hashing algorithms. Bitcoin uses the SHA-256 algorithm, while Dogecoin (similar to Litecoin) is based on 

ASIC machines used for Litecoin mining are compatible with Dogecoin. In fact, as you might have already noticed, Dogecoin is typically mined in a merged format with Litecoin.

Key Factors When Choosing Dogecoin Mining Hardware

There are two hardware specifications that will affect your mining rig’s profitability – its hash rate and its power consumption. The hash rate refers to the number of 

 the machine is capable of generating per second when mining a specific coin, in this case DOGE. The power consumption is the amount of electricity the machine is estimated to use in watts per hour.

ASIC machines feature vastly higher hash rates than even the most advanced GPUs. At the same time, they naturally consume much more power. ASICs also cost significantly more than computers with high-spec GPUs. All of these factors, along with estimates of profitability, need to be taken into account when choosing suitable hardware.

A number of online calculators can help you estimate current Dogecoin mining profitability by entering the estimated hash rate and power consumption of the machine you’re considering. One such popular calculator is 

. In addition to the hash rate and power, it lets you specify your current electricity costs and a number of other parameters for granular profitability estimates.

According to this calculator, a high-spec ASIC machine, such as Bitmain Antminer L7 9500Mh/s, may generate a profit of around $10 a day from Dogecoin mining. This estimate assumes electricity costs of around $0.15 per kilowatt-hour (KWh).

Naturally, depending on your location, electricity costs might be lower or higher than this figure, which will have an effect on profitability estimates. Another key determinant, of course, is the current market price of DOGE.

While these estimates may fluctuate significantly on a daily and even hourly basis, they do provide some general guidance with regard to the specific piece of hardware to choose for your Dogecoin mining activities.

After setting up your mining hardware, you’ll need to download and use specific software to mine Dogecoin. There are many software packages that work well for Dogecoin mining. However, not all packages support all three hardware types — CPU, GPU and ASIC.

If you still cling to the increasingly obsolete idea of Dogecoin mining with a CPU, 

is one of the most commonly used software packages for this purpose. Another popular software, 

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