The complete guide to getting started with DigiByte mining. Is it profitable to mine DGB in 2020?

Since Satoshi Nakamoto introduced Bitcoin (BTC), the crypto industry has embraced many other valuable and top-notch decentralized projects. Digibyte (DGB) stands firmly among distributed ledgers that manage to take the best of Bitcoin and add new solutions to the end product.  Changelly tries to provide comprehensive crypto basics for a better understanding of the crypto and blockchain industries. We are going to observe the DigiByte (DGB) mining. How to set up a Digibyte mining rig? What is Digibyte mining software? What is Digibyte mining hardware? Let’s cover them all.   How to Mine Cryptocurrency: Basics  DigiByte (DGB) Basics Digibyte (DGB) cryptocurrency project was introduced in 2013 with a great idea behind it: to create an ultra-secure blockchain and provide miners with a fair and independent mining environment. The first (genesis) Digibyte block was mined at the beginning of 2014, and since then, the new blockchain has been introducing multiple revolutionary solutions. Digibyte was one of the first decentralized projects to implement SegWit technology (which later led to well-known Bitcoin forks) for faster transaction throughput.   Speaking about DigiByte (DGB) benefits over BTC, the former is capable of processing over 1066 transactions per second, while the confirmation takes around 15 seconds, which is 40 times faster than in the Bitcoin network.  Digibyte is a mineable coin that uses the Proof-of-Work (PoW) protocol to gain consensus between nodes. What differs DGB from other PoW crypto assets is that  Digibyte utilizes five different hashing algorithms, including Sha256, Scrypt, Skein, Qubit, and Odocrypt. Such a variety of mining methods aim to provide a wide choice of mining types (e.g., ASIC mining, GPU mining, and CPU mining). Eventually, this fact is going to attract many users with different Digibyte mining rigs, thereby enabling the true decentralization within the network.  Digibyte (DGB) Coin Review: The Next Generation Digital Asset If you decide to get into Digibyte mining, make sure you are equipped with all the necessary tools: Digibyte mining hardware, Digibyte mining software, Digibyte digital wallet. If you don’t want to mine DGB solo, there are a large number of Digibyte mining pools that will share computational power with you.  DigiByte (DGB) Mining Hardware As mentioned above, various mining algorithms provide freedom of choice in terms of suitable Digibyte mining rigs. The current Digibyte situation allows for ASIC and FPGA mining only. As of now, GPU Digibyte mining is very unprofitable. The Digibyte community claims this type of mining neither suits newcomers nor professional miners. GPU Digibyte mining will be possible (read: more profitable) after a long-awaited ProgPoW implementation.  If you are a long-term Bitcoin (BTC) miner, then the DGB ASIC mining option will probably work for you as you know all the nuances of such a miner. Mining Digibyte with ASIC is a fast way to get DGB. However, it must be taken into consideration that each ASIC miner is tailored to a particular protocol.  Best Digibyte (DGB) Mining Hardware  Algorithm  ASIC Miner  Hashrate Cost  DGB Scrypt Bitmain Antiminer L3++ (ASIC) 596 MH/s ~$299-$500 DGB Sha256 Bitmain Antiminer S19 Pro  (ASIC) 110 TH/s ~$4,000 Bitmain Antiminer T17+58TH  (ASIC) 58 TH/s ~$1,400 DGB Qubit Baikal BK-G28(ASIC)* 28 GH/s ~$380-$1000 DGB Skein  BlackMiner F1Mini (FPGA) 420 MH/s ~ $140+ *Baikal BK-G28 (ASIC) – the only ASIC miner that supports 8 hashing algorithms (X11, Quark, Qubit, Myriad-Groestl, Nist5, Skein, X11Gost, Groestl). DigiByte (DGB) Mining Software We’ve already observed Digibyte ASIC mining hardware. To mine DGB with the ASIC hardware properly, all you need is to enter your mining pool’s credentials when setting up ASIC. If you want to connect your ASIC device to a certain mining platform, for example, NiceHash, you can visit the platform’s website to generate the address. Be sure you obtain a decent Digibyte wallet.  Top 5 Digibyte (DGB) Wallets  DigiByte (DGB) Mining Pools A mining pool is a united group of miners that share computational resources between each other in order to find and add the next block to a blockchain. While choosing the right Digibyte mining pool, be sure you’ve checked all the vital details: pool’s credibility, pool’s commission fees, pool’s reward options, etc.  Mining Pools Explained  As we can see above, Digibyte mining requires ASIC miners most of the time. Therefore, to start mining DGB, you will need to choose a mining pool to provide its info while setting up ASIC miner. Each Digibyte protocol has its own mining pool that works hard in order to maintain and develop the blockchain. Protocol Mining Pool  Sha256 DigiHash (an official DGB mining pool)P2Poolf2Pool Scrypt DigiHashf2PoolFairPool Skein DigiHashf2PoolA Hash Pool Qubit f2PoolDGB-SonicPoolMiners Pool EU Odocrypt DigiHashf2PoolBlackMiner Pool Is It Profitable to Mine DigiByte (DGB)? The current block reward is 581.77 DGB. The profitability of DGB mining depends on the chosen miner. We’ve already mentioned that GPU and CPU mining is currently not profitable. Digibyte mining with ASIC device requires a considerable financial investment.  See also Every mining process also requires electricity expenses. Mining calculators are useful tools when it comes to mining profitability. Whenever you decide to mine DGB, it is reasonable to check the efficiency of your mining rig, electricity costs, etc. Bottom Line  We tried to provide Digibyte (DGB) mining basics in simple yet comprehensive terms. Before diving into Digibyte mining essentials, do not forget to do your own research. We hope your DGB mining will be smooth and profitable. If you don’t want to spend a fortune on expensive Digibyte mining rigs, you can always buy DGB and 160+ other crypto assets at Changelly. Available payment options: credit cards (Visa, Mastercard), bank transfers, and Apple Pay.  About Changelly Changelly is a non-custodial instant cryptocurrency exchange service that acts as an intermediary between crypto exchanges and users, giving the latter an opportunity to exchange over 160 cryptocurrencies at the best market rates. Changelly offers its API and a customizable payment widget to any crypto service that wishes to broaden its audience and implement new exchange options.