Ratings Firms Infuriate Bitcoin Investors: Ethereum the Best Cryptocurrency?

Written by:
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Published on:
Jan/25/2018

There is a new ratings system for cryptocurrencies and investors are not too thrilled.  Weiss Ratings, claiming to be the first to offer such grading, has judged ethereum to be better than Bitcoin.

The agency rated Ethereum a "good" B and Bitcoin a "fair" C+ rating.

The ratings agency says Bitcoin faces hurdles ahead that have resulted in delays and high transaction costs, and that Weiss has no immediate plans for an upgrade.

They further claim that a Denial of Service out of Korea occurred just as the agency was determing Bitcoin's grade.

None of the 74 cryptocurrencies the agency covers received an "excellent" A rating. B-rated ethereum and digital currency EOS have the highest ratings.

A statement issued by Weiss claims "staff was up all night last night fending off denial of service attacks from Korea" and cited Korean social media posts calling others to bring down the ratings agency's website. The hackers then broke into the website, took information from it and are distorting it on social media".

Weiss Ratings is an independent company providing data and analysis for the bank and insurance industries.  They have published the Weiss Financial Strength Ratings for banking institutions and insurance companies since 1989.

There’s now an official cryptpocurrency rating system from CNBC.

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