3 Bitcoin-Like Proof Of Work Altcoins That Could Make You A Millionaire In 2024
November 30 2023 - 6:00PM
NEWSBTC
Bitcoin is still the leading proof of work blockchain and has
already made massive moves over the years, with countless
millionaires at the same time. However, with the price of Bitcoin
having moved so much already, the upside is fairly limited,
especially for crypto investors who do not have ample buying power
to make a Bitcoin investment worth their while. In this vein,
altcoins offer the best opportunity for smaller and retail
investors to make the most money. But not just any altcoins; these
coins also employ the proof of work mechanism, just like Bitcoin,
making them a good choice, especially when they are newly launched.
QUBIC: A Proof Of Work Coin Like Bitcoin The Qubic (QUBIC) coin is
already making the rounds on social media platforms such as X
(formerly Twitter) and with good reason. The blockchain uses a
proof of work mechanism like Bitcoin. Led by IOTA co-founder
Dominik Schiener, it has already garnered a reasonable following
based on Schiener’s reputation. Related Reading: Top 2 Under The
Radar Altcoins That Could Do A 70000% Run Like Kaspa (KAS) The coin
is still trading well below $0.1 which could make it a good buy in
the long run. With a current circulating supply of 71.425 trillion,
its current market cap is currently sitting at around $200 million.
16% of the total supply has reportedly been burned already. Nexa
(NEXA) Leads POW Altcoins Next (NEXA) is another proof of work
blockchain, but unlike Bitcoin, it uses the UTXO Layer. This means
that Nexa is a proof of work blockchain that is also able to
support native tokens and smart contracts. To mitigate the problem
of scalability often encountered by the likes of Bitcoin and
Ethereum, Nexa employs Signatures and UTXO lookups. NEXA price at
$0.000013 | Source: NEXAUSDT on Tradingview.com The Nexa token is
currently trending below one cent with an around $35 million market
cap at the time of writing. Given the kind of run that Kaspa (KAS)
had even through a bear market, it puts in perspective the
opportunity that lies with this token. Firo (FIRO) Firo (FIRO) is
another proof of work coin that also holds a lot of promise among
the altcoins that fall into this category. It rebranded from ZCoin
and is a privacy-first coin, meaning it mixes two of the most
sought-after attributes right now in the crypto market. Related
Reading: Ethereum Return To $4,800: Analyst Identifies Pattern To
Trigger Rally To ATH Its price is $1.87 with a fully diluted market
cap of under $40 million. This makes it the coin on this list with
the lowest fully diluted market cap. Its price has been relatively
stable for the last week, which could suggest that accumulation is
happening ahead of a possible breakout. Follow Best Owie on X
(formerly Twitter) for market insights, updates, and the occasional
funny tweet… Featured image from Swapzone, chart from
TradingView.com
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