Cardano (ADA), EOS, & Steem: the Top 3 Cryptocurrencies by Weiss Ratings
This morning the infamous investment rating bureau, Weiss Ratings, had an emergency briefing for cryptocurrency investors. Since 1971, the firm has graded everything from stocks to insurance plans. The firm's newest grading venture is focused around cryptocurrency. The skype meeting this morning was led by the website's Founder, Dr. Martin Weiss, and supported by cryptocurrency ratings-model expert Juan Villaverde, Bitcoin Veteran Tristan Amzallag, and senior analyst Gavin Magor.The webinar specifically highlighted how Villaverde comes to the mathematical conclusions of the ratings of each cryptocurrency and each factor that is graded. During the meeting, Villaverde explained that the ratings aren't a 'beauty contest' but driven strictly based on numbers and data. These weekly gradings provide investors an unbiased representation of a cryptocurrency with data compiled from three metrics: technology, adoption, and risk/reward.>> Women in cryptocurrencyNow, towards the end of the online meeting, they did try and pitch some sales that investors can buy in on to help boost their profits on cryptocurrency investments. I could care less about that but Mr. Villaverde did provide his top 3 coins to invest in right now and the 5 to avoid. You can re-watch the video here.Villaverde's top 3.
The mathematician/statistician raved about EOS, even though its product isn't set to launch until June of this year. Villaverde believes that EOS has a strong risk/reward based on its stats and will soon become a stronger/faster Ethereum. The system is fee-less, a major point he believes sets it above Ethereum.
Cardano is about two years away from completion but already has a strong backing being the 7th largest cryptocurrency by market cap. Villaverde thinks that Cardano will become a better EOS, in the future, due to its team focusing on specifically on the upgrade of its code and the foundation of the code itself. While Cardano may still be in its Alpha stage, it has strong runway due to it being self-funded and able to pay developers to work specifically on the coding development.
Steem is currently a working platform that pays individuals in their cryptocurrency for creating shareable and useful content on the Steemit website. Its platform currently completely 1.5 million transactions a day. This cryptocurrency is the only one in his list that has a working platform currently, and it is used by millions of individuals daily.Villaverde's five digital tokens to avoid.While the coins may have some positives, he feels most have been beat out by other similar platform's and are a waste of an investment.
What are your thoughts? Good picks? Have you used Weiss for investment advice before?Featured Image: ThermoFischer
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