The only financial rating agency that offers cryptocurrencies review has sought to give its latest edition for free. Announcing 93 best cryptocurrency to invest 2018 ratings in its edition, the famous review report gave more accurate risks figures on different coins and tokens.
Martin Weiss, the founder quoted,
“Developers want a grade based exclusively on what their cryptocurrency project has achieved in terms of technology and adoption, regardless of market fluctuations. In contrast, investors seem to be more interested in how much money they can make or lose. Our overall Weiss Rating is a blend of both. But now, we are also breaking out the components so users can better understand what’s under the hood.”
The founder expressing on the rating’s complexity remarked,
“the overall Weiss Rating is based on a complex algorithm — not simply an average of the two component grades. At this stage in the industry’s transition to newer technologies, it remains extremely difficult for any one coin to achieve top scores across the board. Older generation coins with broader adoption typically lag in technology. Alternative coins with more advanced technology lag in adoption. And none currently have a risk-reward balance that’s comparable to many traditional investments.”
Also, read: Who was Behind the Bitcoin Price Crash?
Best and worst rated
Bitcoin (BTC), Cardano (ADA), EOS (EOS), Ethereum (ETH), Ripple (XRP), Stellar (XLM), and TRON (TRX) were amongst the top-rated cryptocurrencies while Bitcoin Gold (BTG), Bitcoin Private (BTCP), Electroneum (ETN), and ReddCoin (RDD) were deemed to be the worst rated among the cryptocurrencies with a market capitalization of $100 million or more.
Cardano and EOS managed to be on zenith in the Weiss ratings with both being graded as B.
With a good review in technology and adoption, Cardano and EOS managed an A- in the report while the investment risk rewarded them with D+ and C- respectively.
With fluctuations from the expected trends, Bitcoin got an overall B- rating. The technology behind Bitcoin was marked as fair (B) in relation to its extensive usage and adoption, but owing to the high-risk factor involved it garnered a D+.
Ripple (XRP) was considered to be the one soaring high with an excellent trend in play. But for speculative reasons and its minimal usage patterns in the crypto market thus, accorded for its topsy-turvy situation still in the picture.
Acing high in previously published ratings and market observations, Ethereum though considered to be one of the majors, only managed to get a B- in the Weiss ratings.
Talking about the worst rated cryptocurrencies, Bitcoin Cash got an overall Weiss rating of D, Bitcoin Private a D-, Electroneum E+ and Reddcoin staggering at a mere D+.
Despite being so widely recognized Weiss ratings is a home to many critics as well.
Ari Paul, chief investment officer at BlockTower Capital suggests,
“Weiss cryptocurrency ratings are a great example of the ongoing institutionalization of the cryptocurrency industry and a healthy addition … Their rating of Bitcoin suggests a misunderstanding of the core value proposition of cryptocurrency, however, as they seem to overvalue transaction capacity, and undervalue protocol stability, security, and decentralization.”
Coming to rescue the legibility and standards of the company Mr. Weiss firmly recoils,
“Unlike Moody’s, Standard & Poor’s, Fitch, and A.M. Best, Weiss Rating never accepts compensation of any kind from the companies or entities it rates. Its revenues are derived strictly from individual investors, consumers and other end users of its ratings.”
Since Weiss ratings are only one of the reviews in the market, it is subject to criticisms for sure. Investors ultimately have to solely depend on their market research to make a decision.
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