DigiByte (DGB) is a blockchain project that is more than 7 years old. Over the years, it has established itself as stable and promising. Recently, the popularity of this blockchain has been actively increasing. Many investors consider DGB as a promising cryptocurrency with good growth potential.
During the growth of the digital market in 2017, the DigiByte project went through a turbulent period of growth – one of those that all crypto investors are waiting for. DGB started trading at the beginning of 2017 at a price of $ 0.0002, and at the end of the year the cost of one coin was already $ 0.07. As a result, those who invested in this project were able to increase their capital by 35,000%.
In the first half of 2021, there was a second major increase in the coin from $0.02351 to $0.1571. That is, the increase was about 570%.
At the moment, the value of the coin has fallen, which is also due to the general decline in the market. However, the prospects for the coin are extremely high. Therefore, DigiByte mining can become a very profitable process. Let’s look at how you can start mining DGB and how to make it profitable.
How DGB mining works
In general, the mining process is the use of the power of various equipment to verify transactions on the network, solve new blocks and bring new DGB to the market. For this, miners are rewarded in the form of project tokens.
The peculiarity of DigiByte mining, both from Bitcoin and from other cryptocurrencies, is that it allows you to mine tokens using several different algorithms. All of them require their own equipment, so DigiByte miners are divided into several groups.
How to mine DigiByte
List of algorithms: SHA-256, Skein, Groestl, Qubit and Script. The choice of an algorithm is based on what equipment you plan to use. Not all algorithms can be used on ordinary home equipment.
For those who plan to mine DGB using a GPU, the Skein and Groestl algorithms are suitable. If you are ready to take the process a little more seriously and combine several types of mining equipment (CPU and GPU), then consider Qubit as well. SHA-256 and Scrypt are suitable only for ASIC miners – it is impossible to extract a digibyte on any other hardware using these algorithms.
DGB is not suitable for mining using the CPU, so you just can’t use your phone or computer for this. The Qubit algorithm allows you to mine DGB only using CPU and GPU together, which is much more difficult to implement.
In this sense, DGB mining on the one hand gives 5 variations of algorithms for mining, but on the other hand, additional equipment is always needed for this.
GPU is a graphics processor. It makes it possible to mine DigiByte using three algorithms Skein, Groestl and Qubit (paired with CPU).
There are 2 main manufacturers of video cards that are considered the most suitable and effective for mining. However, each of them has its own characteristics and assumes a qualitative calculation of the profitability of the process. Let’s look at them in more detail and how to mine DGB GPU.
Mining with an AMD Graphics Processing Unit (GPU)
Mining on AMD is very common due to their several advantages. One of the main advantages of such equipment is a higher overclocking potential, which is very important for mining. Also, the choice of additional utilities, programs and firmware is much more extensive. A good help for a beginner earner is a quick payback. AMDs are cheaper than Nvidia GPUs. The number of models is quite extensive, and we recommend carefully studying the characteristics and reviews.
However, there are also disadvantages. One of the main disadvantages of AMD graphics cards for mining is considered to be a high waste of electricity. As a result, net profit decreases. Users also note that Amd heats up faster, so they require an improved cooling system.
With this hardware, you can use the Groestl algorithm to mine DGB.
Mining With an Nvidia GPU
Nvidia cards are more expensive than their analog, but they have greater energy efficiency, for which it is appreciated by miners around the world. The green logo of the manufacturer symbolizes optimal energy consumption and is associated with environmental friendliness. Some versions of Nvidia graphic cards have much more productive power in comparison with AMD.
The disadvantages of the Nvidia GPU, as with other analogues, are that they strongly depend on a stable Internet and the supply of electrical energy. And it is extremely important to calculate in detail in advance the profitability of the process, taking into account electricity costs and currency volatility.
DigiByte cloud Mining
Cloud mining makes it possible to join the process of currency mining without special equipment. You rent mining equipment from providers, and they do all the maintenance. This is the easiest way, but it carries some risks.
First, you need to take a serious approach to choosing the company with which you will cooperate. It should be reliable and with a good reputation. Carefully study all the information before you start cooperation.
Secondly, in the event of a serious collapse of the market and the value of the DGB token, you will suffer financial losses and will not repel the invested investments.
For those who are ready to seriously engage in DGB mining, the best variant is ASIC mining. Although it requires a much larger initial investment. But in the future, mining will bring a good profit, provided that the necessary cost-profit ratio is observed. ASIC hardware is expensive compared to graphics cards.
To ensure the profitability of the process, it is necessary to purchase more than a single equipment. The more ASICs, the cheaper they are. Thus, the advantage is given to large mining farms.
DigiByte Mining Options
When thinking about mining, it is also important to decide how you will be involved in this process: alone or by joining a mining pool. Let’s look at both options, since each of them has its pros and cons.
How to mine DigiByte solo? If you choose mining alone, all the profit from the solved blocks and obtaining tokens will be yours. However, it is important to understand that it is now possible to compete in the market only with good equipment capacity so that it is profitable. As the cost of mining increases over time, more and more resources are being spent. And in conditions of high volatility, this can be very risky. Many experts believe that mining alone can be profitable now if you have a fairly serious mining farm. Therefore, beginners are often recommended to join the mining pool.
DGB Mining Pools
Mining pools are a kind of teamwork to achieve results. In pools, small capacities of participants from different parts of the world are combined into one large force, which has more chances and opportunities to solve the hash and get rewarded for it.
When joining a mining pool, you can calculate in advance what profit you will get with the capacities that you have. This allows you to predict income and reduces the level of risk. However, pools also do not protect you from market failures if the coin price suddenly drops.
You can independently explore the options for DGB mining pools that are most suitable for your capabilities and equipment. However, as in all other aspects, we recommend everyone carefully study the information about the community you plan to join. Choose only those that have proven themselves.
A small list of those pools that we can recommend you to consider:
On digibyte.org there is a link to the floors approved by the developers and all the information about them.
Before you start mining, you need to create a walletIt. It is necessary in order to receive and store coins. The official wallet, which was developed by the developers of the DGB platform themselves, is ideal for this. You can also choose any other wallet that supports DigiByte.
If you do not plan to hold and use DGB specifically, you can open your own account directly on the exchange, where you can immediately exchange tokens for some other currency.
In order to mine using the GPU, you need not only to buy equipment, but also to install the necessary software. You can download any selected one on GitHub – here you will find all the necessary software approved by DigiByte developers. But we remind you that you should always personally check the information, as it is very easy to get to scammers on the Internet, and especially in the crypto world.
For example, Cgminer for Nvidia card and Claymore miner for AMD. Instructions for installing the program can be easily found on the Internet. You can also use the video instructions from advanced miners to figure out the issue faster.
At first glance, the software for mining cryptocurrencies, including DGB, seems very complicated. However, with the abundance of information and reviews on the Internet, you can easily figure them out on your own.
How to mine DigiByte on MAC
The peculiarity of mining on MAC OS is that the system does not provide enough power for successful operation. Experienced miners do not recommend seriously counting on profitable mining on a MAC. You can join a mining pool to add a little power to them, but do not expect that you will be able to make money on it.
How to mine DigiByte on Linux
The Linux operating system allows you to mine DGB, install any software, configure graphics cards and join the mining pool. However, you need to be well versed in how this system works, since installing programs is a little more complicated. But if you’re using Linux, you’re used to it.
How to mine DGB on Windows
This is the most common system for using mining equipment. Therefore, the installation will not require any additional effort. For solo mining or mining in small volumes, a computer with Windows is perfect.
Should You Mine DGB?
It depends on whether you are ready for risks and patience, purchase the necessary equipment, track the balance of expenses and profits, and also always be in context, since a lot is changing in the crypto world and depends on the information field.
It is most profitable to engage in mining on a large scale or join a mining pool by calculating the reward forecast on a calculator.
Mining is necessary not only to make a profit in manners, but also to maintain and develop cryptocurrencies. Therefore, coin mining stimulates the development of cryptocurrencies.
If you decide to start mining DigiByte, we recommend joining their community. Experienced miners will be happy to help and prompt you. The DigiByte telegram group is very useful – there are a huge number of experts and useful up-to-date information that you can use.
If you are just planning to try mining DGB, and have never been engaged in mining before, we recommend starting with the simplest and least expensive methods and equipment. This way you will understand if the process is right for you.
And the most important advice: never invest more than you can easily lose.
Disclaimer: Please keep in mind that the content of this article is not financial or investing advice. The information provided is the author’s opinion only and should not be considered as direct recommendations for trading or investment. Any article reader or website visitor should consider multiple viewpoints and become familiar with all local regulations before cryptocurrency investment. We do not make any warranties about reliability and accuracy of this information.