The rapid evolution of the digital currencies set the ball rolling in the sphere of trading and investment as the investors wanted to get the most out of the most profitable cryptocoin. Obviously, the first and the most popular digital currency, Bitcoin, was one and only altcoin for quite a long time, but today the number of available coins is astonishing. How is it possible to say for sure that the digital coin you want to buy won’t collapse? Who will guarantee that the stock exchange where you store hard-earned Bitcoins won’t vanish into thin air together with its owners and your money?
Of course, no one foresees the future with 100% accuracy. Still, profound analytics, experts’ rating of the best cryptocurrency, and you will be able to make the right decision. Who knows, maybe the next crypto rags-to-riches story will be about you!
It is possible to check the reliability of the digital currency?
One of the main dangers of this sphere is high volatility of the assets. For those not in the know, 280 billion dollars of the total capitalization of the crypto market sound like a huge sum. But compare it to $30 trillion of the US’s stock market cap and this sum will seem really small. Any share price slum may damage the market significantly. In addition, there are so many new promising coins where one can invest money that it is easy to get lost. Of course, the most profitable cryptocoin is not always the most trustworthy. However, if you want to do the work for a long run, then it is crucial to find the coin that won’t let you down.
Even the beginner led in this sphere by the success stories of the Bitcoin multimillionaires should know how to analyze coins. Here are the main factors to pay attention:
Capitalization: The higher is the capitalization, the lower is the risk that the coin will collapse.
Trading volume: judging from the demand of the coin it is possible to forecast the behavior of the asset.
You’ve selected the promising coin. What’s next?
When you have found a reliability rating cryptocurrency the most appropriate way to invest in it is to follow the next guideline:
Do not count on the short-term investments. Allow the asset to pick up steam and bring you solid revenue.
Learn to analyze the news and how they may affect your asset
Do not focus on one altcoin, choose several currencies from the top rating of the best cryptocurrency. Some coins rise in value when the others fall.
Consider the amount of money you want to invest. Never ever invest more money that you are ready to lose.
Reliability rating cryptocurrency by the Independent US Rating Agency Weiss
Weiss Rating is the only official rating of the best cryptocurrency provided by the independent rating source. The list provided by the agency includes 93 crypto coins with a critical evaluation of the security, adaptation, technologies and possible risks connected with each coin.
The main point of this rating is a new approach to the evaluation of the coins and tokens. Developers and investors examine the cryptocurrencies from different angles and Weiss rating provide the information that may be useful for both spheres. Here much prominence is given to the details as the creators of the rating have evaluated the components of each coin providing the results to the users so they can get a better understanding what’s going on with the currency and what investment prognoses can be made.
The gradation of the coins is from A to E (F is Fraud and no coins from the list have received this grade) and no coins have an A or A-. However, the agency admits that it is extremely difficult to achieve such high grades because older generation coins have broader adaptation, yet, they do not utilize newer technologies. Altcoins, on the contrary, use cutting-edge technologies, but their adaptation has much room for improvement.
What are the results of this review of top cryptocurrency?
Surprisingly enough, neither Bitcoin nor Ethereum has received the first place among the currencies with a market cap over $100 million. According to Weiss, the best digital coins at the moment are Cardano and EOS that have received a B. Such great results can be explained by their A- in the sphere of technology and adaptation. Investment risk indexes are D+ and C- respectively.
Bitcoin, Ethereum, Ripple, Stellar and TRON are also in the list of the most trustworthy coins, however, the investment risk factor of Bitcoin was given a D+.
The worst grades were given to Bitcoin Gold, Electroneum, ReddCoin and Bitcoin Private.
Of course, as this rating is the only one in the industry, criticism was not late in arriving as Weiss agency was accused in the institutionalization of the cryptocurrency industry.
Still, it becomes clear that the investors should not just lean heavily on the opinion of the Weiss agency but also search for the information and reliability rating cryptocurrency, and make own decisions.
What do the surveys say?
Recently the social trading and investing network eToro has conducted a survey aimed to find out the most profitable coin in 2017-2018.
Here the results were also surprising, as Ripple’s XRP has received the first place leaving Bitcoin and Ethereum behind. The main reason is the high price of BTC and ETH has driven away investors.
Litecoin received the fourth place, Bitcoin Cash the fifth. The reason for their success is obvious: they are forks from very popular coins.
Interesting enough, the investors, for the most part, are not expertized in the sphere of cryptocurrencies. The survey has found that only 82% of all investors are the novices to the field and most of them work in the spheres related to IT.
Thus, these reviews and surveys show the one thing: it is not necessary to follow the hype but to monitor numbers in order to get better profit.