Led 20

Weiss Ratings to List Cryptocurrencies

· January 20, 2018 · 7:00 am

As the cryptocurrency and blockchain industry moves into the mainstream, more companies and organizations will need to start taking notice to keep up with the latest technology. The latest to acknowledge the ever-growing presence of digital currencies is Weiss Ratings.

In a notice on their website, the independent financial ratings agency announced that they were going to issue letter grades on cryptocurrencies. The company, founded in 1971, claims to be America’s only 100% independent ratings agency covering stocks, ETFs, mutual funds, insurance companies, banks, credit unions, and now virtual currencies. It currently rates over 55,000 institutions and investments.

Altcoins Rated

According to the announcement, the crypto ratings will be released on January 24th and include Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, NEM, Litecoin, Stellar, EOS, IOTA, Dash, NEO, TRON, Monero, Bitcoin Gold, and many others.

It is a first for a financial ratings agency which claims that ratings are based on a “groundbreaking model that analyzes thousands of data points on each coin’s technology, usage, and trading patterns.

Weiss Ratings founder Martin D. Weiss stated:

Many cryptocurrencies are murky, overhyped and vulnerable to crashes. The market desperately needs the clarity that only robust, impartial ratings can provide. We’re proud to be the first to bring that benefit to investors — to help them cut through the hype and identify the few truly solid cryptocurrencies. Our ratings are based on hard data and objective analysis. But they’re bound to create controversy, including some grades that may come as a surprise to some people.

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Fair and Balanced

According to the blurb on its website, Weiss claims to be unlike other rating agencies that focus mostly on larger companies that can afford to pay them large fees. The agency covers all companies, large or small, as long as they report sufficient data for them to analyze. Its independence and accuracy has been noted by the US Government Accountability Office (GAO), Barron’s, The Wall Street Journal, and The New York Times, among others.

Financial ratings for cryptocurrencies will bring more legitimacy to the top performing ones. It is a very positive development in a market that has been shrouded in FUD in recent weeks. With bankers, politicians, and even mainstream media still labeling Bitcoin and cryptocurrencies as “a bubble,” “a Ponzi scheme,” “criminal,” and “fraudulent,” this move is another step towards mainstream acceptance for the industry in general.

Will other financial ratings companies follow Weiss and accept crypto? Add your comments below.

Images courtesy of Pxhere and Bitcoinist archives.

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Led 08

Japanese Crypto Girls Coining It In

· January 8, 2018 · 7:00 am

Many countries have shied away from cryptocurrencies and even clamped down on trading and using them. These tend to be the more authoritarian nations such as Russia, China, and Indonesia. Japan, conversely, is embracing the blockchain revolution with open arms and even has a group known as the Virtual Currency Girls who are attempting to bring more awareness to the masses.

Bitcoin is considered legal tender in Japan, the world’s third largest economy. According to JPBitcoin.com, almost a third of all BTC transactions during December were denominated in Yen. In complete contrast to China and South Korea that want more regulation Japan passed a law in April last year legalizing and legitimizing digital currencies and underscoring the need for transparency and financial stability.

Miss Bitcoin

According to India’s Economic Times, Japanese social media icon Mai Fujimoto, aka ‘Miss Bitcoin’, says she invests all of her savings in the digital currency. In a recent interview she told AFP:

I convert all my disposable income into cryptocurrency, I’ve been doing this for nearly a year now. I convert all my savings into cryptocurrency instead of putting them in a bank.

Miss Bitcoin has done very well out of her investments starting out in 2012 when she got her first BTC for 1,200 Yen (about $10);

At the time, I was working with children and creating an online donation platform. And for the first time, I learned how expensive it is to send money abroad. So, I was really impressed when I heard that I don’t have to go through banks if I use bitcoin payment.

Crypto Girl Power

Japanese culture can be quirky, to say the least. An all-girl idol group called the Virtual Currency Girls (Kaso Tsuka Shoju) have also made it big in crypto and strives to extoll its virtues across the country. The group, managed by Cinderella Academy Inc, intends to capitalize on the current wave of crypto mania by offering all tickets to their live performances and fan goods exclusively through digital currencies.

The eight-member team, ranging in age from 15 to 22, each has her own crypto coin persona and, in true Japanese fashion, uses cosplay to promote them. Characters such as Neo, Nem, Ethereum and even Cardano have their own merchandise and are wildly popular with Japanese youth.

Japan always finds its own idiosyncratic way of doing things and promoting crypto through girl groups seems to be the latest craze.

Are internet idols a good way to promote crypto? Add your thoughts below.

Images courtesy of Cinderella Academy Inc, Shutterstock