Best Proof of Work Coins to Buy in 2023

Different assets within the world of cryptocurrency are often divided by consensus mechanism (the way transactions are settled). As one of the most popular mechanisms, investing in the best proof of work coins can be an excellent strategy.

Throughout this guide, we’ll be reviewing 14 of the very best proof of work coins, explaining exactly what a proof of work (PoW) coin is, and discussing their merit as an investment. Let’s get to work.

Best Proof of Work Cryptocurrency to Buy Right Now Reviewed

In order to help investors make a better-informed decision on which proof of works cryptos are right for their portfolios, we’ve reviewed the top 14 contenders.

1. Love Hate Inu – Overall Best Vote-to-Earn Crypto to Buy on Presale Now

One of the top cryptocurrencies to invest in right now is Love Hate Inu ($LHINU) – a vote-to-earn crypto platform. A top alternative to proof-of-work cryptocurrencies, the Love Hate Inu ecosystem lets investors vote on meme polls and earn token rewards. 

Built on the Ethereum blockchain, Love Hate Inu is the first-ever online voting cryptocurrency platform. Moreover, the global online survey software market size is expected to grow at a compound annual growth rate (CAGR) of 14.6% until 2027. Claiming the first-mover advantage, Love Hate Inu’s online voting platform can increase in popularity because of the rewards it offers. 

Users need to stake $LHINU tokens to vote on these meme polls. After participating in the polls, users are rewarded with $LHINU tokens. According to the Love Hate Inu whitepaper, users will be able to host polls and take part in managing these polls as well. 

To ensure that the voting process is legit and non-fraudulent, Love Hate Inu will use real-time staking transmissions. Since the votes will be conducted with $LHINU, the voting process will remain anonymous. 

$LHINU has a maximum supply of 100 billion coins. As part of Love Hate Inu’s anti-rug-pull strategy, 90% of the token supply has been allocated for the ongoing presale. This way, the majority of the control stays with the community. 

Love Hate Inu wants to collect $10.068 million from eight presale rounds. Currently, in round three, the token is priced at $0.000095. The price will eventually jump to $0.000145 by the final presale round, equating to a price jump of more than 52%. Thus, investors can buy $LHINU at a lower price now. 

Love Hate Inu has already raised over $2 million since the presale launched. Join the Telegram channel to learn more about this project. 

2. Fight Out – Top P2E Coin and Platform Rewarding Users Leading an Active Lifestyle

Fight Out is a play to earn platform offering its token $FGHT, through the ongoing presale stages.

More than $5.93 million has been raised in early-round fundraising, with the $FGHT token currently available at a price of $0.0333. By purchasing $FGHT in the presale, users can earn additional token bonuses. An initial investment of $500 will entitle an investor to a 10% bonus. Depending on the investment level, the bonus can go up to 25%.

Apart from the investment bonus, users can earn between a 10% – 42% bonus by staking $FGHT tokens for 3 months – 36 months. However, there is no compulsory vesting period for $FGHT tokens.

Fight Out rewards users for completing workouts, growing the community and earning badges. In-app currency known as REPS is offered as rewards, which users can redeem for discounts on subscriptions, merchandise and remote sessions with trainers. One of the top cryptos to invest in right now, the Fight Out fitness app allows users to mint their own Soulbound NFT avatars after signing up.

The reward tokens can also be used to buy NFTs and can be redeemed for membership at gyms, which Fight Out will open in key cities around the world. Subscribe to the Fight Out Telegram channel to get the latest updates about the gym openings, and read the whitepaper to find out more about the $FGHT coins.

3. C+Charge – Eco-Friendly Crypto Rewarding EV Drivers for Charging Cars

C+Charge developed $CCHG as a native token for its peer-to-peer payment platform to reward electric vehicle (EV) drivers with carbon credits after paying with $CCHG for charging their cars.

Investors have an opportunity to buy $CCHG tokens for just $0.0235. Since the start of the presale, C+Charge has raised more than $3.4 million. This ecosystem is on a mission to expedite the adoption of EV vehicles by democratizing carbon credits.

Drivers will be able to use C+Charge’s app, which will store $CCHG tokens in its wallet, to pay for charging their cars.

The app will also track the carbon credits balance, and the geolocation feature helps drivers locate the nearest charging station. It also provides information such as charging prices and wait times.

More information about the token and the ecosystem is available on the Telegram channel and the C+Charge whitepaper. $CCHG tokens will be listed on exchanges on 31 March 2023. Only 8% of the capped supply is allocated to exchange liquidity, so investors may be challenged to buy the coins at low prices. The presale offers convenient access to the tokens at affordable prices.

4. RobotEra – P2E Token with Multiverse Ecosystem Enabling Various Rewards

TARO is a proof of work crypto alternative that players can earn in several ways in RobotEra’s multiverse ecosystem and investors can take advantage of this appreciating asset while it’s currently in presale.

The key appeal of TARO is the various ways players will be able to earn more tokens by participation in the ecosystem.

One such way to earn is staking – players lock in their coins and earn rewards, which is vital for rebuilding the destroyed Taro planet.

Other ways players earn tokens is by selling robot companion NFTs, which can be built using in-game tools, customized and sold on the open market.

Players can also buy metaverse plots of land and increase its value by adding assets, mining minerals and cultivating sacred trees.

RobotEra players can also develop infrastructure and add buildings to the land, host events or invite players from other communities.

Players will receive rewards for partiaking in concerts, hosting events and charging admission or selling billboard space to advertisers.

RobotEra’s founders, who are doxxed and KYC-verified, also anticipate more use cases in the future, with few limitations on what players are able to build.

The RobotEra whitepaper provides a comprehensive guide about the different avenues to earn $TARO tokens – otherwise, players can subscribe to the Telegram channel to receive the latest updates.

To earn coins, players have to buy TARO tokens. The best time to do that is now, during the first stage of the presale with the coins valued at $0.02 – their value will increase to $0.025 in stage to and by a total of 60%, to $0.032, during the final stage.

TARO will be listed on exchanges after the presale ends but RobotEra has made only 3% of the 1.8 billion tokens available as liquidity for exchanges.

Once the coin is listed, it will attract more attention and possibly result in a price spike due to high demand.

Investors shouldn’t wait for the token’s price to increase and lose out on potentially huge returns.

5. Tamadoge – Overall Best Proof of Work Cryptocurrency

Tamadoge (TAMA) is a wildly popular new meme coin that is set to disrupt the status quo by injecting a plethora of utility into a sector otherwise largely devoid of intrinsic value.

This concept has proven to be a big hit with investors as Tamadoge sold out its presale in just eight weeks before pumping nearly 2,000 over its early presale price after listing.

One of the key features of Tamadoge is its play-to-earn (P2E) game – set in a Metaverse world named the Tamaverse, players can explore and interact with each other while taking care of 3D-animated NFT-based pets, based on 90s craze Tamagotchi.

Using items attainable from the in-game store, players can level up a pet to increase their leaderboard ranking, in order to receive a greater share of the rewards pool.

In addition to the aforementioned features, Tamadoge has a locked wallet that slowly releases funds over a 10-year period to further the project’s development.

There are already plans to release a series of tokenized arcade-style games (Q3 2023) as well as a mobile app with augmented reality functionality (Q4 2023), and with much in the works, it’ll be exciting to see what gets announced next.

As an ERC-20 token, TAMA previously utilized the proof of work consensus mechanism of its parent network (Ethereum) to validate transactions before Ethereum switched to proof of stake.

While this has the benefits of added security and decentralization, it has also paved the way for seamless centralized exchange (CEX) listings. W

TAMA is now listed on various exchanges with more in the pipeline – analysts are expected this huge-potential coin to pump once the crypto markets improve.

Join the Tamadoge Telegram to learn more and stay updated.

6. Battle Infinity – New P2E Crypto Making a Big Splash

Battle Infinity (IBAT) is a P2E gaming and decentralized finance (DeFi) ecosystem that has been attracting a lot of attention recently. The project takes elements from NFTs, the Metaverse, and other trending crypto subsectors in order to appeal to a wide audience of crypto enthusiasts.

As Battle Infinity packs a lot of utility into a relatively small package, it’s split into six platforms, each hosting a different core feature. There’s a fantasy sports platform initially dedicated to Cricket but soon expanding to other sports, a Metaverse arena featuring customizable avatars, a collection of player-vs-player P2E games, an NFT marketplace, a DEX, and a staking platform.

While the Battle Infinity presale has now sold out (raising 16,500 BNB 65-days ahead of schedule), the IBAT token has recently been released on PancakeSwap. Following this launch, IBAT shot up in value by over 400% from presale prices ($0.015). As IBAT features an adjustable tax on transactions, further exchange listings can be easily implemented, making IBAT perhaps the best new cryptocurrency on the market right now.

The IBAT token utilizes the BEP-20 standard in order to facilitate fast, low-cost transactions. The token can be used to purchase in-game items, earn staking rewards, and even purchase Metaverse advertising. While IBAT uses a hybrid proof-of-stake proof-of-authority consensus mechanism, it offers an equal amount of upside potential compared to our other top picks so it remains a worthy addition.

While not a proof of work blockchain in the same sense as our other picks, Battle Infinity has proven itself to be incredibly popular. As the project has clear plans to release key functionality over the coming, it seems likely that IBAT could perform extremely well. As such, it’s worth checking out Battle Infinity today and joining the IBAT Telegram to stay up-to-date with the latest developments.

7. Lucky Block – Blockchain-Based NFT Competitions Platform

Lucky Block (LBLOCK) is a platform dedicated to hosting NFT-based prize draws with huge jackpots. The platform is interwoven with blockchain technology in order to create a fair and efficient system that rewards its users.

The project hosts a wide range of competitions with prizes including $1 million in Bitcoin, a luxury house, and even a real-life Lamborghini. Each drawing can be entered using a beautifully designed and uniquely numbered NFT attainable from the leading marketplace NFT Launchpad.

Lucky Block adheres to an ‘everyone’s a winner’ ethos. As such, each NFT entitles the holder to a portion of the prize pool each day. This ensures that nobody gets left out and provides holders with long-term value.

In late July, LBLOCK eliminated the tax on transactions and began using the ERC standard in order to pave the way for listings on centralized exchanges. So far, LBLOCK has already been listed on MEXC and Gate.io with both events boosting the price of LBLOCK substantially. Even more listings are already planned, so it’s worth stocking up on tokens before the next big announcement.

All in all, Lucky Block is well deserving of its status as one of the best proof of work cryptos. It offers investors and users alike an immense amount of value and with further listings and upgrades on the horizon, there’s no better time to get involved with Lucky Block. Being one of the best cryptos to watch, it’s worth checking out the project today before new listings are announced.

8. Bitcoin – The Original Proof of Work Coin

Just about every crypto investor will have heard about Bitcoin (BTC), a decentralized transactional crypto commonly touted as being the best proof of work crypto on the planet. It was the project that spawned the crypto market and helped make it into the asset class we all love today.

The primary purpose of Bitcoin is to act as a borderless, decentralized currency that can be easily sent around the world without the need for third-party intermediaries.  This goal was achieved through the creation of the blockchain, an immutable ledger that permanently records every transaction.

Being the largest and most well-known digital asset on the planet, Bitcoin is arguably the best cryptocurrency on the market. With that said, smaller cap projects like Tamadoge and Battle Infinity will typically still offer greater upside potential, so it’s advisable to create a balanced portfolio rather than investing in a singular asset.

Crypto assets are a highly volatile investment product. Your capital is at risk.

9. Litecoin – Forked Token for Transactions

Litecoin (LTC) is a popular altcoin and a forked version of Bitcoin. The project was created by Charlie Lee, an early crypto adopter as a more lightweight and user-friendly variant of Bitcoin. Released in late 2011, Litecoin is almost as old as Bitcoin and has long been a favorite among crypto investors.

With Litecoin being a direct descendent of Bitcoin, it’s no surprise that the project quickly built up steam to become one of the most widely used cryptocurrencies on the market. As Litecoin benefits from a greater throughput, quicker transactions, and lower fees when compared to Bitcoin, it has become fairly widely accepted among crypto-friendly merchants.

Litecoin is one of the largest cryptocurrencies on the market and perhaps the project most closely related to Bitcoin. Even today, over 10 years after its release, new Bitcoin forks are still being created, proving the need for a more transaction-friendly variant of the popular cryptocurrency. Litecoin fills that gap and remains a solid pick for those looking for a Bitcoin alternative.

Crypto assets are a highly volatile investment product. Your capital is at risk.

10. Zcash – Privacy-Focused Cryptocurrency

Many people believe that cryptocurrency and privacy go hand in hand. And while it’s true to a degree, most fail to realize that all the information linked to a transaction using Bitcoin or a similar crypto can be easily looked up. As not everyone wants their personal information available on the web. Zcash (ZEC) aims to change the status quo by providing crypto enthusiasts with in-built privacy tools.

In order to provide investors with a way to transact without concerns regarding privacy, Zcash settles transactions on a public blockchain like a traditional crypto, but hides key information like sender/receiver address and the amount of funds being transferred. However, unlike competitor Monero, Zcash also offers the ability to reveal these details to allow for regularity compliance.

Like quite a few of the best proof of work coins, Zcash is a forked version of Bitcoin with additional features. It has become quite popular as a Monero alternative and is worthy of consideration for privacy-focused investors.

Crypto assets are a highly volatile investment product. Your capital is at risk.

11. Dogecoin – World-Famous Meme Coin

Next on our proof of work cryptocurrency list is Dogecoin (DOGE), a massively popular cryptocurrency that birthed the meme coin trend. Despite originally being created as a joke, thanks in no small part to Elon Musk, DOGE has become a transactional cryptocurrency that shouldn’t be overlooked.

As a fork of Litecoin, Dogecoin utilizes the proof of work consensus mechanism to validate transactions, however, Dogecoin’s version of the mechanism does vary in a few key ways. Firstly, As Dogecoin has just a 1 minute block time, transactions are settled much faster than other proof of work blockchains. Furthermore, as the token has an unlimited supply, it’s suited for use as a transactional token.

While Dogecoin may have been brought into the limelight thanks to Elon Musk, it’s now built up a loyal following and grown to be one of the most popular digital assets in the world. While it’s a solid project, competition meme coin Tamadoge does offer greater room for growth as it’s still in its presale stage.

Crypto assets are a highly volatile investment product. Your capital is at risk.

12. Ethereum – Largest Smart Contract Formerly Proof of Work Blockchain

As the second largest cryptocurrency on the planet and arguably the best altcoin, Ethereum needs no introduction. It birthed both smart contracts and the ERC standard, making Ethereum’s contribution to the industry incalculable.

The primary draw to the Ethereum network is the ability to build dApps and Web3 projects using smart contracts.

This enables projects to be created far more quickly than would otherwise be possible and even comes with the added bonus of heavy decentralization and security.

Ethereum previously utilized proof of work before the Merge upgrade saw it switch to proof of stake, which increased its speed and scalability and made it 99.99% more energy efficient.

With the amount of utility offered by the Ethereum network, it’s undeniably one of the best coins on the market.

Like Bitcoin, Ethereum can be considered a blue-chip crypto and is worth considering as an addition to a balanced portfolio.

Crypto assets are a highly volatile investment product. Your capital is at risk.

13. Bitcoin Cash – Transactional Version of Bitcoin

Bitcoin Cash (BCH) is a variant of Bitcoin designed specifically as a transactional currency.

It utilizes a peer-to-peer network to allow users to transfer funds between one another and aims to become the de facto currency for global transactions.

In order to work well as a transactional cryptocurrency, Bitcoin cash focused on reducing the time and cost required to send funds on the network. To achieve this, the project increased block size allowing more transactions to be settled simultaneously.

Bitcoin Cash is one of the best proof of work coins on the market and one of the largest cryptocurrencies overall. While there are quite a few Bitcoin forks designed for everyday transactions, Bitcoin Cash is one of the most popular and could perform well if it’s picked up by more establishments.

Crypto assets are a highly volatile investment product. Your capital is at risk.

14. Nervos Network – Open-Source Layer-1 Blockchain

Last on our proof of work cryptocurrency list is the Nervos Network (CKB), an open-source proof of work blockchain and ecosystem consisting of a huge range of protocols.

As it stands today, applications created on different networks struggle to interact with each other. However, Nervos Network aims to change this by providing developers with a host of tools designed to facilitate the creation of universal apps. With interoperability being a large technology barrier to crypto, this could be huge for furthering the adoption of the asset class.

Overall, the Nervos Network is a massively interesting project and one of the best penny cryptos currently available. Few proof of work cryptocurrencies offer as much ingenuity as the Nervos network, so it’ll be exciting to see how many developers adopt the Nervos tool suite.

What is a Proof of Work Crypto?

While it can be rather difficult to decipher the meaning behind crypto-specific terminology, when explained clearly, we’re confident that anyone can understand exactly what a proof of work crypto is.

Firstly, it’s important to understand what a consensus mechanism is. A blockchain is essentially a ledger containing information. A consensus mechanism is a fault-tolerant system to validate that a transaction (information) is legitimate.

Proof of work is an example of a consensus mechanism. In order to ensure that transactions are valid, proof-of-work cryptos allow validators to use computational resources to solve puzzles in order to prevent a bad actor from sending false transactions.

The process of validating transactions using computing power is typically referred to as mining. After downloading the necessary software and a copy of the blockchain, an individual can use their computer to solve puzzles (thereby validating transactions) in order to receive crypto rewards.

Proof of Work vs Proof of Stake

Two of the most common types of consensus mechanisms are proof of work and proof of stake (PoS). While both achieve a similar goal (securely validating transactions) the way this goal is achieved differs a fair bit.

While proof of work coins incentivize miners to validate transactions by solving complex puzzles, proof of stake coins select a random person staking a specific amount of tokens to ensure the transaction is legitimate.

Each type of consensus mechanism has its own benefits and drawbacks.  The main arguments for proof of stake over proof of work are superior throughput, lower fees, and less energy expenditure.

With this in mind, it might seem like a no-brainer that PoS is the better consensus mechanism, it has an incredibly high barrier to entry. Ethereum, for example, requires a validator to own 32 ETH. Therefore, even at today’s prices, it would take over $50,000 to become a validator whereas using a proof of work, all that’s required is a decent computer.

With proof of stake coins having such a comparatively higher barrier to entry, it can result in the network being solely governed by those with large capital reserves, something that cryptocurrency was initially trying to change. Only time will tell which consensus mechanism is proven to be better, so it’s worth understanding the benefits and detriments of both.

Are Proof of Work Coins a Good Investment?

As one of cryptocurrency’s main uses is as an investment vehicle, it makes sense that people would wonder whether the best proof of work coins make good investments. Below, we’ve summarized a few key points why proof of work projects can make excellent investments.

Decentralization 

Decentralization is undeniably at the core of the crypto ethos and proof of work offers a greater level of decentralization than other consensus mechanisms. As crypto was designed to give power back to the people, it makes sense that a way of governing transactions with minimal barrier to entry would be popular.

Many crypto enthusiasts believe that proof of work blockchains are better for the average person than alternative consensus mechanisms and as buyer sentiment drives the market, proof of work coins can perform well.

Prestigious Roots

While cryptocurrency is a rapidly evolving industry, many of the largest and best-performing projects utilize proof of work. Bitcoin, Ethereum, and a large portion of the top 30 digital assets utilize the consensus mechanism. As the saying goes, ‘follow the money’, if the biggest and best projects utilize proof of work, it’s likely beneficial and as such, gives an investment a greater chance of paying off.

Tried and Tested

PoW has stood the test of time for more than 10 years. While new mechanisms are springing up constantly and promising phenomenal throughout and minuscule fees, few will actually enjoy mainstream adoption. The reality is, that these new mechanisms simply haven’t been tested as much as PoW which can lead to issues surrounding security and decentralization down the line. As such, PoW projects can make better long-term investments.

How to Buy Proof of Work Crypto

In order to make buying the best proof of work crypto a breeze, we’ve outlined the entire process below.

Step 1: Open a Cryptocurrency Wallet 

Investors can begin by downloading a cryptocurrency wallet that is compatible with ERC-20 tokens such as $LHINU.

For example, MetaMask is a popular crypto wallet which will allow you to connect with the Love Hate Inu presale platform.

Step 2: Purchase ETH/USDT Tokens

An ERC-20 token, $LHINU can be bought with cryptocurrencies such as Ethereum and USDT. Purchase one of these cryptocurrencies from a suitable cryptocurrency exchange and transfer them to your crypto wallet.

Step 3: Connect to the LHINU Presale

Head over to the Love Hate Inu website and click on ‘Buy Now’.

Choose your cryptocurrency wallet and then connect to the Love Hate Inu presale with either ETH or USDT tokens. Complete the step after foll0wing the instructions that appear on the screen.

Step 4: Buy $LHINU Tokens on Presale

After the wallet is connected, purchase $LHINU tokens by selecting ‘Convert ETH’ or ‘Convert USDT’ and enter the amount of $LHINU tokens you wish to receive.

Conclusion

Throughout this guide, we’ve taken a look at some of the best proof of work coins on the market, explained what a proof of work token is, and discussed how it stacks up to competing consensus mechanisms.

However, throughout our research, we determined that one particular asset – a proof of work alternative – offered the most room for growth.

Utility-centric meme coin $LHINU has been making waves recently and with the Love Hate Inu vote to earn project, investors can earn rewards and bonuses. $LHINU is available to buy on presale for $0.000095 per token.

Love Hate Inu - Next Big Meme Coin

Our Rating

• First Web3 Vote to Earn Platform
• Vote on Current Topics and Earn $LHINU Tokens
• Secure, Reliable and Anonymous Voting
• Rug Pull Proof - 90% of Tokens Available in Presale
• Accumulate Voting Power by Staking $LHINU Tokens

Join Presale

FAQs

What coins use proof of work?

A plethora of coins use proof of work. The most well-known example is crypto titan Bitcoin. However, a wide range of Bitcoin forks exist and also utilize the consensus mechanism. 

Is Bitcoin the only proof of work coin?

No, although Bitcoin might be the most widely-known proof of work coin, it’s not the only cryptocurrency to use the consensus mechanism. A variety of Bitcoin forks, ERC tokens, and layer-1 blockchains all utilize PoW.

Is Ethereum a proof of work coin?

Right now, Ethereum uses a hybrid proof of work and proof of stake consensus mechanism. However, after the upcoming Ethereum merge, the network is set to shift to proof of stake.

Is XRP proof of work?

XRP doesn’t use proof of work to validate transactions. Instead, the cryptocurrency uses a network of specialized nodes to ensure transactions are legitimate.

What is the best proof of work crypto?

We have reviewed multiple popular cryptos such as Love Hate Inu, Fight Out, C+Charge, RobotEra, Lucky Block, Bitcoin and Litecoin.

  This article was written for Business 2 Community by Jay Leonard.
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Author: Jay Leonard

Jay is a UK-based cryptocurrency expert, specialising in fundamental analysis and medium to long term investments. Jay has a great deal of hands-on experience in analysing financial markets and performing technical analysis. Jay is currently focusing on the institutional adoption of cryptocurrency and what it means for the future of…

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