Weiss Ratings:Bitcoin Best
Weiss Crypto Ratings released the names of cryptocurrencies it considers most likely to succeed in 2019. The independent ratings agency has given Bitcoin an A “tech/adoption” grade along with Ripple’s XRP and Ethereum-competitor EOS.
Weiss Report Predicts a ‘Bright Future’
Weiss evaluates cryptocurrencies combining two factors, the adoption rate and technology. Upon evaluation, Weiss assigns letter grades indicating the crypto asset’s likelihood to succeed and its long-term sustainability.
On 26 March 2019, Weiss published a comprehensive report on the crypto market entitled “Dark Shadows with a Bright Future.”
The report is the outcome of reviewing 122 digital coins against four factors: technology, adoption, risk, and reward. Then, strictly basing the rating only on technology and adoption factors, Weiss concludes that the ten top cryptocurrencies are as shown in the table below:
Weiss proposes that “ultimately, only cryptocurrencies boasting the best combination of adoption and technology will succeed.” And it rates Bitcoin, EOS, and XRP with the highest letter grade: “A” rate (excellent).
And when the analysis also includes risk and rewards factors, the ranking is as follows:
The report argues that although the value of cryptocurrencies significantly declined in 2018, crypto technology continued to evolve, and new crypto assets were launched exhibiting faster processing speeds. As a result, adoption rates have increased.
Additionally, Weiss notes,
Since February 2018, the volume of user (on-chain) transactions among the ten most widely used cryptocurrencies has grown by 245 percent.
Bitcoin ‘Best Positioned’ to Become a Popular SoV
Last year, Weiss had ranked Bitcoin with a “C-” rate under the all four-factor evaluation (adoption, technology, risk, and reward). At that time, Weiss explained that Bitcoin had obtained this rating was because the currency was being afflicted by significant transaction delays and high transaction costs.
Now, Weiss has upgraded Bitcoin to “B+”, highlighting that its technology has dramatically improved. Specifically, the report states,
Bitcoin has been upgraded with the roll-out of its Lightning Network and is the best positioned to become a popular store of value for savers and investors.
It should also be noted that Weiss consideres Bitcoin to still be “the proven leader in adoption.” What’s more, BTC doesn’t have much competition even among high-ranking altcoins who are vying for different markets.
The main competitor of XRP, for example, is the legacy SWIFT network. While EOS, Ethereum and Cardano are focused on smart-contracts and “innovative governance features.”
Bitcoin, the original cryptocurrency, is still the proven leader in adoption… Like gold bullion, its value is not controlled by monetary authorities, and it can be a safe haven in times of turmoil. Unlike the yellow metal, it costs virtually nothing to store or transport.
What do you think about Weiss’ cryptocurrency ratings? Let us know in the comments below!
Images via Weiss Crypto Ratings, Shutterstock
The post Weiss Ratings: Bitcoin Best Positioned to Become a Popular Store of Value appeared first on Bitcoinist.com.