One of the most important rating agencies in the world, has decided to rate the 12 weakest cryptocurrencies in the market. Among the factors involved to obtain the results they include risks, rewards, technology and adoption. Additionally, the company says that it could be a good time to build up a portfolio.
Weiss Tatings 12 Weakest Cryptos
Since January 2018, Weiss ratings is giving a “neutral” rating to the most important cryptocurrencies in the market. The first edition of the ranking was more like a “testing” report, in which no cryptocurrency was the “best” or the “worst.”
In February’s edition, some cryptos performed a little bit better than before and others were downgraded. Indeed, the first A grades appeared.
Cryptocurrencies can be rated between E and A, where D means that it is a very weak cryptocurrency and A an excellent one. The ratings are calculated using a computer program that measures four different metrics, including: risks, reward, technology and the fundamental aspects of the cryptocurrency.
Mr Martin D. Weiss, Weiss Ratings founder commented:
“You can have a great technology index – all the pieces are in place for a very nice, strong currency. But unless it’s actually reality-tested in the marketplace, it may not succeed, and that’s what this last fourth index tests.”
Now, Weiss Ratings released the 12 weakest coins in the market. These currencies are: Auroracoin (AUR), Comet (CMT), Electroneum (ETN), Expanse (EXP), Gulden (NLG), Matchpool (GUP), Megacoin (MEC), Novacoin (NVC), PotCoin (POT), Quark (QRK), Rise (RISE), and SaluS (SLS).
Additionally, the inform released by Weiss Ratings includes some investment guidelines. It advises to newcomers to limit their investments to 5% of their liquid assets and avoid investing during parabolic surges. Besides that, it recommends to investors to build up a portfolio when the market is going downsides or flat.
Martin Weiss Comments
Mr Weiss has also given his opinion about the Tether case and the importance to have control over your cryptocurrencies. About Tether (USDT), he explained that traders should be cautious and only use this cryptocurrency when necessary. In addition to it, he said that users should buy this crypto only when they are using an exchange without fiat pairs.
“The big issue: there’s never been an audit, and the folks behind Tether has been quite shady when asked. They have continuously claimed their tokens are backed 100% by actual dollars, yet they have failed to present any evidence to support this claim.”
He has also stated that people should consider twice having their cryptocurrencies on exchanges. They can suffer from cyber attacks and they should also appoint a successor just in case.
Join the conversation over at Telegram (https://t.me/coinstaker)
Image Courtesy of Weiss Ratings
- Cointipping and Why It’s on Its Way Out - Nov 7, 2019
- Bithoven Exchange Announces New Margin Trading Services For Users After Several Requests - Jul 11, 2019
- Binance Exchange Launches a New Fiat Crypto Exchange Called Binance Jersey - Jan 17, 2019
- VISA Acquires Ripple’s Partner Earthport After Closing a £198 Million Deal - Dec 29, 2018
- Report Says Cryptos Could Soon be Legalized in India - Dec 28, 2018
Know more than others on any Blockchain Party!
Join more than 5000 others to receive the breaking news and weekly summaries! No ICO spam, we promise.
You have Successfully Subscribed!
Tags:Crypto newsCryptocurrency NewsWeiss Crypto NewsWeiss Crypto RatingsWeiss Cryptocurrency RatingsWeiss RatingsWeiss Ratings BitcoinWeiss Ratings CryptocurrenciesWeiss Ratings CryptosWeiss Ratings InformationWeiss Ratings InvestmentsWeiss Ratings NewsWeiss Ratings ReleaseWeiss Ratings Weakest Cryptocurrencies