Here are 3 cryptocurrencies you should consider buying this October 

The entire crypto market has taken a beating recently. In fact, there were some pumps in September but market corrections also followed. 

Finding the best crypto coins to buy requires a little ingenuity in times like these. Since volatile times call for investment strategies that take advantage of the market’s upside while mitigating risk, it is important to take profits as soon as they come. 

With that in mind, we have come up with a list of three cryptocurrencies that can work together to form a profitable, resilient portfolio in October 2022. 

These tokens represent a healthy variety of the crypto market’s most promising and reliable investment opportunities you can tap a few bucks from in this uncertain period. Take a look at them below:

Elrond (EGLD)

$EGLD is a native utility token powering Elrond, a platform offering very fast transactions through the use of Adaptive State Sharding. Elrond is a blockchain protocol that distinguishes itself by its use of the sharding mechanism, which in turn grants extremely fast transaction speeds. 

There are numerous new developments in the ecosystem expected to launch this October which is expected to push the market price of the token which is used for staking, paying network fees and rewarding validators.

Some of the updates are:

• Elrond Growth 2.0
• Elrond Gamify
• Staking Phase 4
• NFT Marketplace
• Multi-signature model for DAO

Although $EGLD has been on a downward move recently in tandem with the general market condition, these updates should be a catalyst for a bullish movement. It is important to take profits as soon as they come. 

Related post: Here are 4 cryptocurrencies you should buy and keep for the long term

Reserve Rights ($RSR)

The Reserve Protocol is a decentralised system aiming to create truly decentralised stablecoins that can stand the test of time and resist inflation. The main idea behind the project is the creation of baskets of tokenized assets that can serve as alternative pegs for crypto assets.

$RSR is a cryptocurrency created to stabilize the Reserve Protocol. As an ERC-20 token, it is based on the Ethereum blockchain. RSR has two principal uses for the protocol. Firstly, it acts as a governance token.

It also serves to insure Reserve stablecoin (RTokens) through staking.

The Reserve Protocol announced that it will begin the deployment of its full protocol in October, with the mainnet launch date in the month too. At this time, the platform and decentralised application (dApp) will go live, allowing for the creation of RTokens.

The hype has been decent and the atmosphere in the RSR community is positive. Hence, it should be on your list of coins to buy in October. 

Cardano ($ADA)

Cardano is a proof-of-stake blockchain typically considered an Ethereum competitor and its native token, $ADA is another token investors should add to their portfolios in October. 

Cardano is not just popular but is also considered one of the fastest-growing crypto coins in the world. The network has several advantages worth considering. The ecosystem launched a recent update called Alonzo.

This update brings smart contracts to its platform and will allow developers to create DeFi applications and NFTs.

In addition, the network’s recent Vasil Hard Fork, a significant upgrade similar to Ethereum’s Merge, was implemented towards the end of September. This upgrade will improve the network’s efficiency and scalability. 

More application development on the network is expected to take place. And given Cardano’s strong developer interest, this could mean a greater valuation over time. This is because a general theory supporting the valuation of projects asserts that a token should be worth the aggregate total of all the projects on its blockchain. 

Read also: Want to invest in the Metaverse? Here are 3 coins to consider

Thus, as Cardano’s ecosystem grows, so should its valuation. Therefore, for those looking for another blockchain with excitement from an upgrade, Cardano certainly has some momentum potential from here.

You should add $ADA to your crypto portfolio in October. 

Note 

Always remember to do your research before investing. And, never invest more than you can afford to lose. 

This content is for informational purposes only and should not be construed as investment, tax or legal advice. It is strongly recommended that every recipient seek appropriate independent professional advice before acting on any information contained herein, as Technext provides no endorsement, opinion or advice, including investment, tax or legal, and makes no representation or warranty about the suitability of a product for a particular reader or circumstance.