There is no denying that cryptocurrencies have caught the attention of many; however, it hasn’t always been for the best reasons. At the beginning of the year, it was announced that cryptocurrencies will be listed, using the Weiss Rating scale.
The rating scale takes into account the investor and reward, and the technology and adoption fundamentals. It is rated from A to E, where D & E are considered weak and very weak respectively.
The latest grades have shown which cryptocurrencies you should stay away from. The following virtual currencies received a rating of D or lower; Auroracoin, Comet, Electroneum, Expanse, Gulden, Matchpool, Magacoin, Novacoin, PotCoin, Quark, Rise, and SaluS.
It is important to point out though that these are updated regularly and can change. Bitcoin, which is the number one cryptocurrency by market capitalisation, was given a Weiss score of C+, despite being praised particularly for its security and widespread adoption.
They justified this low score because of the high transaction costs. The good news for Bitcoin is though that its grade has been upgraded to a B-. Read more from cryptodaily.co.uk…
thumbnail courtesy of cryptodaily.co.uk