Weiss Ratings has published a list of the 12 most unreliable altcoins

Independent rating Agency Weiss Ratings recently presented its latest assessment of the cryptocurrency market. The good news is the indicators of bitcoin has significantly improved. The bad news is the number of weak altcoins, which you should stay away, not diminished. The Agency identified 12 of cryptocurrencies, which, in his opinion, investors should avoid.

Weiss Ratings evaluates cryptocurrencies on a scale from A to E, which takes into account the risks and benefits of the investor of coins, its technology and distribution. D is considered a «weak» rating, and E «very weak». The worst score according to the cryptocurrency rating Agency (D — or below) received the following twelve altcoins:

  • Auroracoin (D-)

  • Comet (E)

  • Electroneum (E+)

  • Expanse (E)

  • Gulden (D-)

  • Matchpool (E)

  • Magacoin (E-)

  • Novacoin (E)

  • PotCoin (D-)

  • Quark (E-)

  • Rise (D-)

  • SaluS (E-)

  • It should be noted that Weiss Ratings frequently updates its estimates, so you need to check their website regularly for the most current data.

    Improvement of bitcoin

    The first assessment of bitcoin from Weiss Ratings was released in January this year on the basis of «thousands of data points on parameters such as the underlying technology, practical use and structure trade operations».

    In January, Weiss praised bitcoin in C+, putting the highest scores for security and widespread. The relatively low estimate was based on weak areas of the network – low speed transaction processing and high commissions at the moment when the price of bitcoin rose to $ 20,000 in December 2017. Moreover, Weiss Ratings has assigned the air a B rating because of the «easier updated technology and best speed» that caused discontent of representatives of the bitcoin community.

    According to the latest report, the Agency raised the rating of bitcoin to B-. Given the fact that these ratings are designed primarily for investors, the upgrading was due to the stability of bitcoin prices compared to other coins in recent weeks. In addition, Weiss Ratings took into account the introduction of Lightning Network. However, the Agency notes:

    «In every known scenario, we see some obstacles to the introduction of the Lightning Network. Despite the fact that we continue to monitor the progress of cryptocurrency, our Technological Index can not predict the future, but only evaluates its current status. Thus, as soon as the Bitcoin network becomes more efficient, our model estimates daily receiving new performance data will reflect improvement».

    Given this explanation, it is likely that the rating of bitcoin in the coming months will improve as Lightning Network started to work just last week and already has more than 1,000 nodes in the core network.

    In February of this year, Weiss Ratings said he believes the operation with a Tether is unsafe. According to analysts of the Agency, the main problem USDT – the lack of audited financial statements confirming the security of these coins.

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