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Wed 24 Jan 2018 06:42 PM

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Bitcoin gets a C in Weiss Ratings

The first ever cryptocurrency rating is good news for Ethereum

Bitcoin gets a C in Weiss Ratings
None of the 74 rated cryptocurrencies currently get an A grade, but Ethereum, the second-largest cryptocurrency by market capitalisation, got a B – or “good”. Photo: Dan Kitwood/Getty Images

The eagerly anticipated Weiss Ratings for cryptocurrencies, the first attempt to rank the newest asset class, has given Bitcoin a C+ in it’s a to F grading system.

None of the 74 rated cryptocurrencies currently get an A grade, but Ethereum, the second-largest cryptocurrency by market capitalisation, got a B – or “good”.

The cryptocurrencies were rated on four criteria: Risk Index, assessing the downside; Reward Index for the potential rewards; Technology Index, that looks at the underlying source code and how robust, flexible and scalable it is; and Fundamentals Index, which is about its use real-world scenarios.

Despite the C+, Bitcoin did get excellent scores for security and widespread adoption. But it is encountering major network bottlenecks, causing delays and high transactions costs. 

Ethereum’s B was based on its readily upgradable technology and better speed, despite some bottlenecks.

Ripple, which seems to have the most mainstream adoption by financial instiutions, only managed a C.

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