Altcoins
3 Bitcoin-Like Proof-of-Work Altcoins That Could Make You a Millionaire in 2024
Bitcoin is still in the lead proof of work blockchain and has already made massive progress over the years, with countless millionaires at the same time. However, given that the price of Bitcoin has already moved a lot, the upside potential is quite limited, especially for crypto investors who do not have enough purchasing power to make a Bitcoin investment worthwhile. .
With this in mind, altcoins offer small and retail investors the best opportunity to make the most money. But not just any altcoins; These coins also use the proof-of-work mechanism just like Bitcoin, making them a good choice, especially when newly launched.
QUBIC: a proof-of-work coin like Bitcoin
Qubic coin (QUBIC) is already making the rounds on social media platforms such as X (formerly Twitter) and for good reason. Blockchain uses a proof of work mechanism like Bitcoin. Led by IOTA co-founder Dominik Schiener, it has already amassed a reasonable following based on Schiener’s reputation.
The coin is still trading well below $0.1, which could make it a good long-term buy. With a current circulating supply of $71.425 trillion, its current market cap currently sits at around $200 million. 16% of the total supply has already been burned.
Nexa (NEXA) Leads Altcoins POW
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 capable of supporting native tokens and smart contracts. To alleviate the scalability problem often faced by companies like Bitcoin and EthereumNexa uses signature searches and UTXO.
NEXA price at $0.000013 | Source: NEXAUSDT on Tradingview.com
The Nexa token is currently trading below a cent with a market cap of around $35 million at the time of writing. Considering the type of run Kaspa (KAS) has had, even during a bear market, it puts into perspective the opportunity this token offers.
Firo (FIRO)
Firo (FIRO) is another proof of work piece this is also very promising among altcoins that fall into this category. It has been renamed ZCoin and is a privacy-focused coin, meaning it mixes two of the most sought-after attributes currently in the crypto market.
It is priced at $1.87 with a fully diluted market cap of less than $40 million. This makes it the coin on this list with the lowest fully diluted market capitalization. Its price has remained relatively stable over the past week, which could suggest that accumulation is occurring ahead of a possible breakout.