Weiss Ratings 2018 : 12 Cryptocurrencies You Need To Avoid

Weiss ratings has recently ranked the top 12 cryptocurrencies that we need to avoid investing in. The top insights show that Bitcoin has shown improvements. There is certainly no shortage of weak altcoins to stay away from.

12 CRYPTOCURRENCIES TO AVOID RIGHT NOW

While people have been taking interest owing to the huge popularity of Bitcoin and other cryptocurrencies, Weiss Ratings has provided independent ratings since 1971, covering stocks, ETFs, mutual funds, insurance companies, banks, and credit unions.

The Weiss Ratings scale is from A to E, which take into account each coin’s investor risk and reward plus technology and adoption fundamentals, where D is considered “weak” and E is “very weak.” The plus and minus signs indicate the upper and lower third of each grade range, respectively.

The latest grades according to Weiss Ratings with a Cryptocurrency Rating of D- or lower include the following twelve:

• Auraracoin (D-),
• Comet (E-),
• Electroneum (E+),
• Expanse (E),
• Gulden (D-),
• Matchpool (E),
• Magacoin (E-),
• Novacoin (E),
• PotCoin (D-),
• Quark (E-),
• Rise (D-)
• SaluS (E-)

Since, Weiss Ratings does not update its ranking regularly, you can check their website to get the latest rankings.

Bitcoin’s Grade Improves

In January, Weiss Ratings released Bitcoin’s first report card with scores reportedly calculated using “thousands of data points on each coin’s technology, usage, and trading patterns.”

At the time, Weiss issued the grade of a C+ for Bitcoin based on purported network bottlenecks, causing delays and high transactions costs as Bitcoin price climbed to nearly $20,000 USD in December 2017. 

Weiss Ratings has now upgraded Bitcoin from a C+ to a B-. This upgrade was there because of Bitcoin’s price stability relative to other coins in recent weeks.

While Bitcoin received a C class grade, Weiss Ratings gave Ethereum a B due to “more readily upgradable technology and better speed.”

“In any scenario we’re aware of, we see some roadblocks to Lightning Network adoption,” the agency, however, notes in its Bitcoin whitepaper, adding:

“While we continue to monitor its progress with interest, our Technology Index is not designed as a crystal ball of future upgrades, but as a tool to evaluate the state of the art as it stands today. Thus, as soon as the Bitcoin network becomes more efficient, our ratings model, updated daily with new performance data, will reflect the improvement.”

This ignites the hope of Bitcoin heading towards a better grade in the coming times of Weiss ratings.

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