Digital Currency Past Present Future - Bitcoin and Altcoins Will be RATED Starting WEDNESDAY!

Weiss Ratings, a U.S. independent rating agency, had announced that it will issue letter grades on cryptocurrencies, to be released Wednesday January 24. Beyond market leader bitcoin (BTC), the rating agency will also issue grades for ethereum (ETH), Ripple’s XRP, bitcoin cash (BCH), cardano (ADA), NEM (XEM), litecoin (LTC), stellar (XLM), EOS, IOTA, Dash, NEO, TRON, Monero (XMR), bitcoin gold (BTG) and many others.

This is another milestone achievement and a welcome news to bitcoin and altcoins!

What is a Rating Agency?

A credit rating agency (CRA, also called a ratings service) is a company that assigns credit ratings, which rate a debtor's ability to pay back debt by making timely interest payments and the likelihood of default. An agency may rate the creditworthiness of issuers of debt obligations, of debt instruments, and in some cases, of the services of the underlying debt, but not of individual consumers.

The Big Three credit rating agencies are Standard & Poor's (S&P), Moody's, and Fitch Group. S&P and Moody's are based in the US, while Fitch is dual-headquartered in New York City and London.

Below is the standard rating scale:

source:Money Market

What Being Rated Means

It means more money flowing into the crypto world. Risk averse fund managers who were skeptical of bitcoin and altcoins could feel more confident on these cryptos as investment instruments.

It also means more visibility and credibility for cryptos. Rating agencies not only serves as marketing tools for the general public but also gives the seal of credibility.

Weiss Rating Agency

Weiss is America’s only 100% independent rating agency covering stocks, ETFs, mutual funds, insurance companies, banks, and credit unions.

They:

• never accept compensation from any company for its rating;
• never allow companies to influence our analysis or conclusions (although they are always free to provide us with supplemental data that’s not publicly available);
• never suppress publication of our ratings at a company’s request; and
• are always dedicated to providing our analysis and opinions with complete objectivity.

Below is the latest screen shot of the Weiss website with a count down timer on the crypto rating implementation:

Sources:
news.bitcoin.com
wikipedia
weissratings.com

Disclosure: This post does not intend to provide investment nor does it represents that the securities or services discussed are suitable for any investor. Investors are advised not to rely on any information contained in the article in the process of making a fully informed investment decision.

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