12 Worst Cryptocurrencies to Avoid, According to Weiss Ratings
Weiss Ratings recently published its latest cryptocurrency rankings. The fantastic news is that Bitcoin’s report card has enhanced. The bad news is that there’s surely no lack of feeble altcoins to keep away from. Here are the twelve cryptos investors should avoid according to the individual rating agency.
The incredible bull-run across the cryptocurrency markets at the end of 2017 captured the interest of each investor around the world. In retrospect, the timing was unfortunate for most as they raced in during the peak.
Meanwhile, taking interest from the surging popularity of Bitcoin along with other cryptocurrencies has been Weiss Ratings, which has provided independent ratings because 1971, covering stocks, ETFs, mutual funds, insurance companies, banks, and credit unions.
To much fanfare within financial circles, it declared it will begin record and devoting letter ranges into cryptocurrencies in January.
The Weiss Ratings scale from A to E, which take into account each coin’s investor risk and benefit plus adoption and technology principles, where D is known as “weak” and E is “very weak.” The plus and minus signs indicate the upper and lower third of each grade range, respectively.
The Most Recent grades based on the agency with a Cryptocurrency Rating of D- or lower comprise the next twelve:
- Auraracoin (D-),
- Comet (E-),
- Electroneum (E+),
- Expanse (E),
- Gulden (D-),
- Matchpool (E),
- Magacoin (E-),
- Novacoin (E),
- PotCoin (D-),
- Quark (E-),
- Rise (D-)
- SaluS (E-)
It needs to be said, nevertheless, that Weiss Ratings does upgrade its own positions frequently so that you should check their site regularly for the newest grades.
Bitcoin’s Grade Improves
Bitcoin’s initial report from Weiss Ratings was introduced back in January, together with dozens allegedly calculated using “tens of thousands of data points on each coin’s technologies, use, and trading routines”
Nonetheless, the low quality was based on supposed network bottlenecks, resulting in delays and large transactions costs as Bitcoin price climbed to almost $20,000 USD at December 2017.
What is more, Weiss Ratings gave Ethereum a B because of “more easily upgradable engineering and better rate,” to criticism from Bitcoin’s loyal.
The fantastic thing is that Weiss Ratings has updated Bitcoin in the C+ to a B-. At precisely the exact same time, the bureau did notice that on its own numerical score, the gap is just a few match points.
With the caveat that these evaluations were created mostly for investors, the update was driven by Bitcoin’s price equilibrium relative to other coins lately.
Furthermore, Weiss Ratings took into consideration “that an increase in Lightning Network adoption,” a climbing solution that is being developed at the top of Bitcoin for immediate and near-zero fees.
“In almost any situation we are conscious of, we all see a few roadblocks into Lightning Network adoption,” the bureau, but notes in its Bitcoin whitepaper, including:
While we continue to monitor its progress with interest, our Technology Index is not designed as a crystal ball of future upgrades, but as a tool to evaluate the state of the art as it stands today. Thus, as soon as the Bitcoin network becomes more efficient, our ratings model, updated daily with new performance data, will reflect the improvement.
Given this explanation, it’s very likely that the Bitcoin’s grade will increase much more in the coming months since the Lightning Network went live just a week (following the B- grade was issued), and it’s currently over 1000 mainnet network nodes.