How to Mine Dash
Dash is one the most user-friendly and scalable payments-focused cryptocurrencies in the world. Mining this coin is a competitive activity, this article aims to provide all the information you need to learn how to mine Dash effectively like: …more
- Effective Choice of a Hardware
- Proper Setup and Configuration
- Mining Pools for frequent Income
Cloud mining is always an interesting choice for those of you, who don’t want to be bothered with all the technicalities mentioned above – check out some more information in our article’s dedicated section below.
Why You Should Mine the Dash Coin?
Turning to cryptocurrencies, the most important thing is the security of a coin. In that regard, picking up Dash, you will make the right decision as this crypto coin uses the Proof-of-Work (PoW) consensus mechanism and the X11 algorithm. What are the benefits of that? The X11 algorithm uses about 11 different hashing algorithms and it’s intended to make the creation of an X11-based ASICs way more difficult. Therefore, it will be way more difficult in case this coin is attacked by hackers and scammers. To be successful, offenders must create 11 different ASICs to hack all 11 functions which is practically impossible. In brief, with this cryptocurrency you can rest assured that your earnings are safe. The best way to profitably mine Dash and receives block rewards is via ASICs.
Best Way to Mine Dash
As we mentioned earlier Dash mining is a strongly competitive field, so having the most effective means for obtaining a given coin, is key. We will focus strictly on ASIC miners, as CPUs and GPUs are no longer profitable. Initially, Ibelink created the first X11 ASIC miner. Compared to Bitcoin’s SHA-256 PoW algorithm miners, ones for X11 need less computational power and as an added bonus, have lower consumption. Currently there’s only one ASIC miner worth purchasing to mine Dash and that is the Antminer D3, produced by Bitmain. Their miners are known for providing peak electrical efficiency and new models are expected. When researching which one to buy, have in mind that the Power Supply Unit (PSU) is usually not included in the purchase.
What do You Need to Start Mining Dash?
Generally, the requirements in Dash mining are connected to your choice of hardware and the following steps that it leads to. Another important need is to create a wallet, where you’re about to manage your mined coins.
To sum up, all the requirements related to mining process are:
- ASIC Hardware
- Internet connection with at least 1MB/s
- Sufficient power network capacity
- A Dash Wallet to store your earnings
What Else to Consider Before Start Mining Dash
One of the key points for your machine to work efficiently is proper maintenance. For this purpose, you have to take into consideration that mining hardware generates a lot of heat and noise. Therefore, we recommend you take under advisement our topic on Ventilation, noise and cooling decisions for your hardware. We’ve compiled a list of measures and tips, based on our own experience.
Having an internet connection with low latency could prove to be beneficial. In case two miners find a block at the same time, the one with lower latency would be able to send his result faster and claim the reward. The loser has his block orphaned. Unlimited traffic is also a plus, since miners go through 500MB of traffic per day, or roughly 15GB/month.
There are three available options of mining Dash: solo, pool or cloud mining. In theory, you’ll achieve the highest profit possible when solo mining. However, while it all sounds great, the problem here is that finding a block that way is extremely hard and based on luck. Therefore, the best method, according to our team of experts and the community, is pool mining – you receive smaller, but regular rewards. When choosing a Dash mining pool, you should research available pools by going over their reward systems, ping times and fees. And last, but not least, if you want to skip all these steps, you can opt for cloud mining, which we’ll discuss in detail later in this article.
Coinfoundry
MiningPoolHub
Antpool
For detailed information about mining pools, reward systems and payouts visit our mining pools webpage.
The next important thing is to have a wallet setup. In our case, there are desktop and mobile ones, which can be used for storing Dash coins. If you don’t plan to keep large amounts at your disposal, web or desktop wallets are the perfect match for you. If you intend to store substantial sums, the most secure way to do so is using a hardware option, such as Ledger Nano S or Trezor.
Here’s a link to the official Dash Download Site to find compatible Wallets.
For detailed information about desktop, mobile and hardware wallets visit our dedicated wallets page.
So, let’s say again what else to consider before start mining:
- Ventilation and cooling systems for your hardware to work properly
- The Noise created by the Fans can be very load
- Regular Maintainance like Dust Cleaning
Best choice of Dash mining hardware to buy
In the beginning of crypto mining era it was enough having a reliable computer to mine Dash, but now much more power is required. That is where ASIC Miner Hardware comes in – application specific integrated circuits (ASIC) are specialized computer-miners used to solve cryptographic problems. They are able to provide a solution for the complex mathematical puzzle at much faster rates and thus validation for the work done by miners. Some examples of Dash dedicated machines on the market are:
Using our Dash mining calculator will help you calculate the amount of money you’re about to earn, according the performance of your ASIC hardware.
Setup Hardware and Software / Configuration
We know that the process of setting everything up may sound daunting, but do not underestimate yourself. It’s hard to do wrong, as we will lead you through all steps needed for successful configuration process. Follow our full guide on how to setup your Dash miner.
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01. Connect Your Hardware
For starters, you’ll need to set up your ASIC device:
- connect the cables coming from the power supply to the hashing boards and control board
- connect the LAN cable from your router to the Ethernet port of the control board
- plug in the power supply to the power outlet
- wait for a few seconds for the device to boot
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02. Register for a Mining Pool
Register, login, and go to Settings where you should enter the wallet addresses for the coin you mine. We will choose Antpool as our mining pool in this example.
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03. Create a Worker
Go to Dashboard > Worker to create the workers associated with your account. Simply Click “Create Worker,” and give your worker a name.
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04. Get the Pool URL
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05. Configure your ASIC Miner
Go back to your Antminer Miner Configuration page and paste the stratum URL. Then enter your worker name. The password field is not required so leave it empty
Make sure to fill all the three section of pool URLs to use the failover switch function if one of the pools is not working.
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06. “Save & Apply” and Restart Hardware
Again, hit “Save & Apply” in the bottom right-hand corner to apply the changes and to restart the miner.
Leave it for a few minutes so you’ll be able to see if your shares are accepted and what their actual hashrate is while you’re mining the Dash coin. If you check on everything – it should be working properly.
Dash Cloud Mining
If you don’t want to deal with the complications and expenses that follow the purchase of equipment to mine Dash, the best option for you is cloud mining. This method is utilized for mining many different coins. You won’t have to concern yourself with energy consumption, cooling systems and specific configurations. What you need to do is just sign a contract with a cloud mining provider to rent their hardware. All in all, it’s an easy alternative.
The following few points of interest and detriments of cloud mining.
Advantages:
- Don’t have to deal with the high level of noise
- No spike in electricity bills
- No obsolete hardware when it becomes unprofitable to mine
- No need of configuring and maintaining the mining hardware.
Disadvantages:
- Risk of fraud or scam cloud mining provider.
- Low profitability after paying the contract and maintenance costs.
- Don’t have ownership of the mining equipment.
You only need to pick out a provider, register and then purchase a mining contract.
Example of some well-known cloud mining providers:
- MiningRigRentals
- Genesis Mining
- MinerGate
- HashFlare
- Nicehash.com
For more detailed information, read our dedicated cloud mining article.
Dash Calculator
The most frequently asked question about crypto mining is: What is the profitability of mining and how to calculate it? We have the best solution for your needs – our Dash Mining Calculator. It works by taking into account the specifics of your particular mining process. As a result, you will receive calculations about your estimate earnings, based on your input and the current difficulty and coin price.
All you need to do is enter the hash rate of your Dash mining hardware, power consumption and the pool fee. Just click calculate so it will summarize the hourly, daily, weekly, monthly and yearly profit of the whole mining setup.
If you’ve chosen cloud mining, you need only enter the hashrate and the pool fee.
Disclaimer: The results from the calculator depends on the variables like difficulty, block reward and actual coin price. Your profitability will also be dependable by these factors, so do not take it as a constant.
FAQ
How long does it take to mine 1 DASH?
If using a hash rate, for example about 400 KH/s, it will take you 100 days to mine 1 coin
How much can you mine in one day?
Following the same example, you’re about to mine 0,1 dashes per day.
It is possible to mine at raspberry pi?
It is possible, but it’s not worth it.
Is it worth it?
Short answer is – it depends. Make use of our Dash Mining Calculator.
Is it legal to mine the Dash coin?
It is perfectly legal.
Can I mine for free?
Only if you have a free hardware and electricity.
Can I mine by my iPhone?
Yes, it’s possible but we don’t recommend, because it’s not profitable and you risk overheating and bricking your phone.
Is it safe to mine Dash?
There are a lot of scams, but if you’re careful, there is no need to worry.
When is the last coin going to be mined?
In 2030.
About Dash
Dash coin is an open source peer-to-peer crypto improvement, which strongly focuses on payments industry. Their policy towards money sees it as fast, portable, inexpensive and divisible, thus can be spent securely both online and in person. All of this is achieved with only minimal transaction fees. Dash currently offers instant transactions (InstantSend) and private transactions (PrivateSend) as well, which enriches the inherited BTC’s feature set. The coin runs a self-funding and governing model, that enables the network to pay individuals or businesses for work, that adds value to the environment. Dash’s decentralized governance and budgeting system makes it one of the first ever successful autonomous organizations (DAO).
According to the developers of the Dash the total supply of coins amounts to 18 000 000 coins. Currently, there are about 8 million coins in circulation. The intent is to reach the 18 million mark by the year 2030.
Dash Team
Dash is a decentralized open source project with a governance and funding mechanism that fosters the creation of independent entities serving the network. Dash Core Group Inc. leads development and maintenance of the project. The department structure includes management, development, operations, marketing, business development, strategy, finance, human resources, a few close associates, some senior advisors and external contributors as well.
Dash Hashing Algorithm
Advantages:
- Security
- Effectiveness
- Power cost
- Mineability (complication)
- Intention
Disadvantages:
- Longevity
- Botnet Attacks
- Lack of network effect
- Community
It might be concluded that the X11 hashing algorithm is effective and unique on its own, but the success depends on the features. If the team manages to handle the longevity and the effectiveness it might be said that it would be the best algorithm choice for any altcoin.
Proof-of-Work Consensus
Users are rewarded for running and maintaining special servers, known as “Masternodes“, which are in addition to the traditional Proof of Work (PoW) rewards for mining Dash. Consider Dash as an example of a cryptocurrency system secured with a proof of work algorithm. Each block in it consists of two parts:
- block header of key parameters, including block creation time, reference to the previous block and the Merkle tree root of the block of transactions.
- block list of transactions
What’s a Dash Fork?
A fork is basically a modification of the current Dash code (or protocol). It means someone is changing the rules. Of course, this is a very simplified explanation of forks. Keep in mind that not all forks are created equal. There are mainly two kinds of forks:
- soft forks – allow the new rules to play well with the old rules.
- hard forks – don’t allow this and create a totally different coin.
Dash has lots of forks such as PIVX, Crown, EtherZero or SAFE.
Dash itself is a BTC fork. This automatically means, hat it copied Bitcoin’s existent code and made it better, by addressing the issues users faced with Bitcoin. So apparent BTC flaws and weaknesses are absent in Dash, making both digital coins substantially different in terms of efficiency. As a Bitcoin alternative, Dash provides higher level of anonymity and much faster service to its users.
Dash Regulations
Markets.com is a secure way to trade Dash, also regulated by the agencies below:
| Regulator | Countries Covered | Protection Offered | Additional Protection |
|---|---|---|---|
| Cyprus Securities exchange (CySEC) | Andorra, Argentina, Austria, Bahrain, Belgium, Bulgaria, Chile, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Gibraltar, Greece, Hungary, Iceland, Isle of Man, Israel, Italy, Kuwait, Latvia, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Monaco, Netherlands, Norway, Oman, Poland, Portugal, Qatar, Romania, Saudi Arabia, Slovakia, Slovenia, Spain, South Africa, Sweden, Switzerland, UK, UAE and Uruguay | All client funds are held in a segregated client bank account. | The Investor Compensation Fund may provide up to 20,000 euro if the platform fails. |
| Financial Services Board (FSB) | South Africa | FSB ensures consumers are treated fairly by the financial services providers they deal with, and that they enjoy a safe investment environment. | – |
Sources:
https://cryptovest.com/education/dash-mining-guide-how-to-mine-dash-cryptocurrency