THAT’S RIGHT-- STEEM SCORES BETTER THAN BITCOIN—WEISS
As the cryptocurrency and blockchain industry moves into the mainstream,many industries now start taking notice to keep up with the latest technology. The latest to acknowledge the ever-growing presence of digital currencies is Weiss Ratings.
According to Weiss Ratings, bitcoin scores a C+ (“fair”) while ethereum earns a B (“good”), and steem a B-. That’s right: steem scores higher than bitcoin. No cryptocurrency earns the highest possible rating of an A. In a report Weiss explained: “A grade of A or B can also be interpreted as the investment rating equivalent of “buy.” At the same time, investors should not be overly alarmed by a C rating.” Electing not to invoke crypto’s most famous meme, they continued: “It is a passing grade, and for investors, implies the equivalent of ‘hold.'” Grades of D and E, are the equivalent of a sell, with the release citing crypto minnows Novacoin and Salus as examples of a D.
Rating are based on each coin’s technology, usage, and trading patterns.”
Weiss Ratings founder Martin D. Weiss stated:
Many cryptocurrencies are murky, overhyped and vulnerable to crashes. The market desperately needs the clarity that only robust, impartial ratings can provide. We’re proud to be the first to bring that benefit to investors — to help them cut through the hype and identify the few truly solid cryptocurrencies. Our ratings are based on hard data and objective analysis. But they’re bound to create controversy, including some grades that may come as a surprise to some people.
Weiss Ratings was founded in 1971 and the agency has since gone on to rate more than 55,000 institutions and investments. While the accuracy of its cryptocurrency report is a matter of some debate, its very existence gives greater credibility to crypto assets in the eye of the masses.
Financial ratings for cryptocurrencies will bring more legitimacy to the top performing ones. It is a very positive development in a market that has been discussed in recent weeks. With bankers, politicians, and even mainstream media still labeling Bitcoin and cryptocurrencies as “a bubble,” “a Ponzi scheme,” “criminal,” and “fraudulent,” this move is another step towards mainstream acceptance for the industry in general.
Countries across the world remain divided over the cryptocurrency revolution that has emerged over the past year. Some, such as China, strive to eradicate all instances of it, but others, including Switzerland, are embracing the blockchain with open arms,That’s what I say devided by nations because of separate rules of each nation but united by one common technology called blockchain technology.
Ahead of a potential crypto G20 summit which could result in a wave of regulatory action, Switzerland has emerged in full support of the technology as voiced via Economics Minister Johann Schneider
Weiss Ratings was founded in 1971 and the agency has since gone on to rate more than 55,000 institutions and investments. While the accuracy of its cryptocurrency report is a matter of some debate, its very existence gives greater credibility to crypto assets in the eye of the masses.
Do you think Weiss Ratings carry great weight and do you agree with their findings? Let me know in the comments section below.