Financial rating agency says Ethereum better than Ripple & Bitcoin... Do you trust it?
As Wall Street is are starting to be interested in cryptocurrencies, assets rating agencies have taken to rating cryptocurrencies.
Weiss Ratings Agency, a Florida based rating agency, has graded many cryptocurrencies using metrics like technical innovation, risk, development team composition and many other factors
The released report contains a few surprises. The first is none of the cryptocurrencies receive an A grade and other is Ethereum was rated better than Ripple & Bitcoin !!
The trustworthiness of the Weiss rating has split the options of both investment and crypto experts
David Drake a crypto expert trusts the findings of the Weiss agency and hopes it the first step to more cryptocurrencies being rated
He also indicated the fact that futures exchanges and rating services are finally legitimizing investment in crypto, after nine years, shows a maturity in the market.
Even though Al Zdenek a wealth fund manager says ‘Weiss has been around a while and their options are well respected in the financial industry’, he is still unsure of the ratings, as he says the cryptocurrency industry is very young and its a become a crowding market, he is unsure if the correct criteria is being used to rate the cryptocurrencies. He also says in most industries only the strongest survive, and he thinks it entirely possible Bitcoin, Ethereum and Ripple may not rank a few years from now, if especially big banks and government try to crush them or if there are major innovations in blockchain technology.
Here is a screenshot of the ratings.
Write in the comments below what you think of them
Do you think they are accurate?
Steem is the 5th Best Crypto according to Weisss
