Top 5 Cryptocurrencies That I am Buying - October 2022

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For virtually all of 2022, cryptocurrencies as an asset class have been a sort of high-beta version of the stock market: When stocks go up, crypto goes up more and vice versa. Unfortunately, stocks haven't gone up: By the end of September, the S&P 500, the Dow Jones Industrial Average and the Nasdaq had all entered bear markets. At the start of the fourth quarter, the S&P 500 was down 24.8% in 2022, while the tech-heavy Nasdaq was off 32.4%.

Crypto had dropped an astounding 56.6% over that period. The good news is that in September, when the stock market shed 9.3%, digital assets showed signs of resilience, losing just 3.1%. The history of crypto price fluctuations is rife with incredible volatility, and more interest rate hikes are almost guaranteed.

1. Bitcoin (1:38)

Bitcoin is a cryptocurrency, a virtual currency designed to act as money and a form of payment outside the control of any one person, group, or entity, and thus removing the need for third-party involvement in financial transactions. It is rewarded to blockchain miners for the work done to verify transactions and can be purchased on several exchanges.

2. Ethereum (2:44)

Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet.

3. ADA Cardano (3:52)

Cardano (ticker symbol, ADA) is a decentralized proof of stake (PoS) blockchain designed to be a more efficient alternative to proof of work (PoW) networks.

Cardano's cryptocurrency is named Ada after Augusta Ada King, Countess of Lovelace (1815-1852), who is commonly regarded as the first computer programmer. Ada is used in the blockchain's PoS consensus mechanism. It is given as a reward for work done for the blockchain by users participating in a stake pool.

4. Uniswap Protocol (5:11)

The Uniswap Protocol is an open-source protocol for providing liquidity and trading ERC20 tokens on Ethereum. It eliminates trusted intermediaries and unnecessary forms of rent extraction, allowing for safe, accessible, and efficient exchange activity. The protocol is non-upgradable and designed to be censorship resistant.

5. Chainlink (6:36)

Chainlink greatly expands the capabilities of smart contracts by enabling access to real-world data and off-chain computation while maintaining the security and reliability guarantees inherent to blockchain technology.

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