The recognized independent rating company Weiss Ratings, has released the March 2019 edition of the “Weiss Cryptocurrency Outlook.” The report provides a rating for 122 virtual currencies and has been launched more than a year ago.
Weiss Ratings Launches New Report
Weiss Cryptocurrency Ratings has been releasing reports about virtual currencies on a monthly basis. The intention is to provide a weekly rating for each digital asset in the market. There are two main components that they take into account at the time of analysing virtual currencies: “Invest Risk / Reward” and “Technology / Adoption.”
The company uses six grades that provide information about digital currencies: A, B, C, D, E, F. These mean Excellent, Good, Fair, Weak, Very Weak and Fraud, respectively.
The overall rating is a balanced overview of all the factors related to a specific virtual currency. In order to reach that value, they have a specific algorithm running. The investment risk/reward rating is related to the downside potential investors have to be aware of at the time of investing in this digital asset. It is useful to use both tools in order to have a more comprehensive answer about a specific virtual currency trading in the market. There is another ranking related to the technology and the adoption of a particular digital asset.
The best performing digital assets in terms of technology and adoption are XRP, EOS and Bitcoin (BTC) in the top three. All these three received an A as a rating in this category. Things remain in a similar way when evaluating the highest overall rating. The first virtual currency is EOS, followed by XRP and Bitcoin, all of them with B-.
It is worth mentioning that there was no digital asset receiving a letter “A” on the overall Weiss Crypto Rating. There are four digital currencies that received a “B-”, including Bitcoin. Some of the reasons behind Bitcoin’s improvement are related to the expansion and development of the Lightning Network (LN).
There are 27 virtual currencies that had a C rating, 75 digital assets with a D range and finally, 16 cryptos with an Overall Weiss Rating in the “E” range.
Weiss Ratings aims at providing better information to the cryptocurrency space. Clearly, these ratings provide valuable information about investments and how digital assets can have different assessments depending on the firm investigating in them.