Weiss Cryptocurrency Ratings Fall Short Of The Mark

Weiss Cryptocurrency Ratings Fall Short Of The Mark

Weiss Cryptocurrency Ratings Fall Short Of The Mark

While Ethereum, the second most popular cryptocurrency, "benefits from more readily upgradable technology and better speed, despite some bottlenecks".

While much of that growth will be attributable to the major digital currencies on the market - Bitcoin, Ethereum, Ripple, Litecoin, NEO, and EOS - as blockchain technology grows and develops into new sectors and new applications, dozens of new altcoins are likely to spring up in 2018.

The rating notes added: "Despite intense ongoing efforts that are achieving some initial success, bitcoin has no immediate mechanism for promptly upgrading its software code".

"... Thanks to Bitcoins strong adoption, brand, and security, it does merit an A ... but only on our Fundamental Index".

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Following the announcement Dr Martin D. Weiss, who founded the company, insisted that cryptocurrencies have a "bright future", adding their notorious volatility makes the market confusing for investors.

Bitcoin's closest rival Ethereum received a B grade, though Weiss revealed none of the digital currencies measured got the highest A rating.

"However, the market is hectic and confusing for investors".

In a move which was highly anticipated in financial circles, Weiss, which has offered independent ratings since 1971, appeared to offer little insight into cryptocurrencies' value in the minds of users. Britain says a transition period should provide clarity for business and financial services firms.

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Cryptocurrency prices are notoriously volatile. "Weiss' cryptocurrency ratings are a great example of the ongoing institutionalization of the cryptocurrency industry and a healthy addition", he said.

He said: "Since our customers are nearly entirely in the United States, we rarely get more than small amounts of traffic from Asia".

"To handle the volume, our staff instantly expanded its server capacity on the cloud many times over".

One single Bitcoin is now still worth £7,595 ($10,854), though, so it's not too bad if you own any of the coins.

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In the past fortnight, there have been two "bloodbaths" in which the price of thousands of virtual coins plunged dramatically amid fears that a global clampdown would bring an end to the free-wheeling, unregulated nature of the crypto markets.

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