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3 Things You Need to Know | How to Mine Dogecoins and Invest Cryptocurrency 2021

3 Things You Need to Know | How to Mine Dogecoins and Invest Cryptocurrency 2021

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July 7, 2020

In the early years, mining dogecoin was much easier, but before getting started, you need to make sure that you have all the necessary requirements.

There are 3 things you need to know before mining dogecoin 2021.

1. A good, uncapped Internet connection

One of the things you’ll need is a solid, unlimited Internet connection. You don’t want your Internet to be slow or cut in and out when mining. If you’re not connected to the Internet, you’re not mining. For slow connections, even if you’re connected, you don’t want to be communicating slowly with the network because that would decrease your chances of receiving block rewards if you and another miner with faster Internet send your results at the same time.

2. Electrical capacity

Since mining is energy-intensive, you want to make sure that your electrical system can handle your Dogecoin mining needs. See the energy requirements of the things you’ll use like cooling and mining equipment.

3. Heat management (e.g., cooling system, fans)

Another thing you need is good heat management. Mining equipment can run hot, and you still want to make sure you have the proper cooling in place to make sure your equipment and mining space, such as your garage, don’t overheat.

Discover a more trending way to invest cryptocurrency and gain profit

Mining Bitcoin by Cloud Miner Bitmain Antminer T17+ and Bitmain Antminer 19S

Cloud miner BTC-T17+ (flood season) contract is based on Bitmain’s newest Antminer T17+ mining rigs, which run and are hosted by OXBTC Joint Mining farm. After users buy the contract, not only can obtain the miner's permanent cryptocurrency mining income(bitcoins) but also has the corresponding miner extraction, trading rights. More details are below:

  • Parameters Name: BTC Bitmain Antminer T17+
  • Miner Efficiency:0.055KW/THS
  • Miner: Antminer T17
  • Maintenance fee: Depends on the actual situation
  • Hashrate: 58THS/set
  • Platform commission: Before payback 0%, after payback 30% of net income.
  • Price: $39.90/THS
  • Products Delivery date: 2021-08-07(T+10)
  • Min. order: 1THS
  • Profits Delivery Date: The actual settlement time of the mining pool
  • Electric Fee: $0.0750/KWH
  • Contract term: Perpetual
  • Income Allocation
  • Expected Daily Profits = 0.00000932 BTC ($0.37)/Day
  • settlement formula:
  • Electricity Price \24H\the Quantity of Hashrate

Expected Daily Profits\Commission Rate (Expected Daily Profits-Daily Electricity Fees + Maintenance Fees) \the Quantity of Hashrate

What Are Risks and Warnings

1. In the actual operation of the miner, the mining hashrate may be insufficient due to electricity failure or machine failure, and the risk shall be shared by all users who subscribe to the product.

2. Electricity costs may fluctuate due to changes in national policies and electricity costs, OXBTC reserves the right to adjust electricity fees.

3. OXBTC has no obligation to compensate for early termination of contracts caused by force majeure such as legal policy, war, earthquake, fire, power failure, etc.

FAQs - OXBTC Joint Mining product instruction

OXBTC Joint Mining is to buy miners and professional hosting services from OXBTC. The miners belong to users and can be freely traded on the platform. OXBTC hosting service’s price and electricity fee are lower than the market average price, users will enjoy the higher mining income and revenues by this more flexible mining way.

What is the difference between OXBTC Joint Mining and OXBTC Joint Mining (Wet season) mining?

OXBTC Joint Mining (Wet Season) version aims to give priority to users to pay back. In terms of electricity price, miners will be relocated with the season of flood and dry, and the cheaper hydropower price in flood season can be enjoyed, increasing the mining income; about commission, the platform will charge it in stages. Before payback, the platform won't charge any commission, after payback, will charge 30% of daily earning income after decocting daily electricity fee and maintenance fee (mean daily income) as commission.

The Settlement of Profits

According to the cloud mining hashrate you purchase, the daily mining profits will be distributed to your OXBTC Account after the calculation of the profits in the mining pool every day. BTC price will be calculated based on the daily (UTC+8) 16:00 price of the Huobi platform.

Instruction on Maintenance Fees

The maintenance fee is composed of electricity fee compensation and miner maintenance fee. It will be charged according to the actual situation. If it is not generated, the total cost will be 0. The maintenance fee of miners will be apportioned equally according to the actual situation and the maintenance cost incurred in operation will be accounted into the maintenance fee.

How to deal with or extract miners?

After purchasing, in the page of mining, choose miner deal to transaction or choose miner to withdraw to extract miners. OXBTC Joint Mining wet season version due to charge the commission postprocessing, it isn't supported miners trading currently, will be optimized.