Weiss Ratings launches crypt notation

All credits to: dcadmin  Original post: https://goo.gl/Y3RzsY

Wall Street money may soon begin to make its way into cryptocurrency investments. A US rating agency is expected to issue ratings for Bitcoin and a series of altcoins this week, possibly opening the door for more fund managers to enter the market.

Cryptocurrency notation 


Wednesday, January 24, the independent US rating agency Weiss Ratings will issue notes on cryptocurrencies. Beyond Bitcoin (BTC), the rating agency also awarded notes for Ethereum (ETH), XRP of Ripple , Bitcoin Cash (BCH), Cardano (ADA), NEM (XEM), Litecoin (LTC), Stellar (XLM), EOS, IOTA , Dash , NEO , TRON, Monero (XMR), Bitcoin Gold (BTG) and many others.

The rating agency, which was founded in 1971, ranks around 55,000 institutions and investments, including banks, credit unions, insurance companies and mutual funds. Unlike Standard & Poor’s, Moody’s, Fitch and AM Best, Weiss Ratings prides itself on never accepting any compensation from the entities it evaluates.

The importance of the rating for Bitcoin

The rating agency will issue notes to Bitcoin and crypto-currencies on Wednesday. The new cryptocurrency ratings are a first for any US financial rating agency. They are said to be based on a model that analyzes thousands of data points about the technology, usage and exchange patterns of each virtual currency. In addition to allowing cautious investors to better assess the risks associated with an instrument in which they want to invest, the ratings also define the transactions that many fund managers can participate in.

“Many crypto-currencies are outclassed and vulnerable to accidents. The market desperately needs the clarity that only robust and unbiased assessments can provide, “said Weiss Ratings founder Martin D. Weiss, PhD. “We are proud to be the first to bring this benefit to investors, to help them get through the hype and identify really strong crypto-currencies. Our assessments are based on objective data and objective analysis. But they are likely to create controversy, including some notes that may surprise some people. ”

 




Leave a Reply

Your email address will not be published. Required fields are marked *