Litecoin and Dogecoin are two of the most mature and popular cryptocurrencies in the market. Litecoin, created by Charlie Lee in 2011, is known as “digital silver” and has held a prominent position in the cryptocurrency ecosystem for many years. Dogecoin, on the other hand, was born in 2013 as a joke but has since built a strong community and a considerable market capitalization. Especially after SpaceX founder Elon Musk took notice of Dogecoin, the Dogecoin community has become increasingly active.
How can you acquire Doge and LTC? Of course, some might say to purchase them on an exchange, and indeed, that’s a good option. However, today I want to introduce a cheaper way to obtain cryptocurrencies—mining.
Both cryptocurrencies use the Scrypt consensus algorithm. Some of the mainstream mining machines in the market include the Antminer L7, Elphapex DG1 and DG1+, Antminer L9, and Goldshell Mini-DOGE III. Without further ado, let’s dive into a comparison.
Note: The price and inventory of mining machines change very quickly. Please check the price and stock with us again before placing the order.
From the table, we can draw the following conclusions:
- Antminer L9 currently has the best energy efficiency, reaching 0.2W/M. It will be launched in June, so stay tuned.
- The higher the hash rate and the better the energy efficiency, such mining machines are certainly the most worthwhile to acquire. However, since we mine to achieve a good return on investment (ROI), we also need to consider the price of the hardware. From the table, it’s easy to see that most hardware has a payback period of around one year. The best performer is the DG1 11G, with a payback period of just 11.4 months.
- Some might point out that the Mini-DOGE requires two years to break even. Why would anyone choose it? I would say that different miners have different needs. I call the users of L7/L9/Elphapex DG1 and DG1+ “farm miners.” Their characteristics include large-scale mining, numerous machines, and high hash rates. However, the Mini-DOGE’s customer base can be called “home miners.” Its noise level is only 35 decibels, less than half of the other mining machines, making it perfectly suitable for home use. This situation also includes other home mining hardware like the AL BOX. They are not only suitable for novice miners but can also provide heating for homes in winter.
If you believe in the potential of a bull market for Dogecoin or Litecoin, now is the best time to start mining. Contact us to begin your mining journey today.
