Weiss Ratings: You Can't Invest in These Cryptocurrencies

In the latest report released, financial rating agency Weiss Ratings highlighted four tokens that deserve a rating of “D” (weak) or lower. This is a selection of 48 cryptocurrencies that earned a low rating, out of a total of 111 cryptoassets evaluated.

Weiss Ratings researches and ranks crypto assets, considering them very important for investors. According to the agency, they provide an objective assessment that distinguishes good projects with a promising future from mediocre ones that are likely to fall into oblivion.

Aurora Chain (AOA)

Weiss Rating: D-

Consensus algorithms are not unique, and key points of the project’s white paper are copied from Wikipedia. Neither the programmers nor the developers of the project are identified by name. There is no open source code and trading volume is very low, in fact, the coin is only traded on one platform.

Bitcoin Diamond (BCD)

Weiss Rating: D

The developers have uploaded the open source code of Bitcoin, making some minor changes and assuring that their “unique algorithm” supposedly prevents large mining companies from remaining monopolies and developing specialized equipment for mining the cryptocurrency. But these are just unrealized promises, and Bitcoin Diamond inherits all the technological shortcomings of the original Bitcoin. But it has only limited support for the Lightning network, which Bitcoin uses to speed up transaction processing. 

Credits (CS)

Weiss Ratings: D

Most third-generation platforms (for example EOS or Cardano) use the consensus algorithm declared by Credits, so we can’t talk about uniqueness. Just like in the imitation of some “Ethereum killers”, there is no practical confirmation of the network’s claimed throughput of a million transactions per second. In addition, the use of the MD5 hashing algorithm, which is considered unusable, calls into question the professionalism of the developers.

Mixin (XIN)

Weiss Ratings: E-

The team behind Mixin intends to build a decentralized platform that can trade any crypto asset, using the latest technologies that are resistant to attacks, which guarantees security and almost endless scalability.

However, there are suspicions that the developers' LinkedIn profiles may be fake, and their Reddit page has only a dozen followers left.

The DApp that is supposed to connect to the Mixin network is not working.. The Mixin white paper contains no technical details about how this amazing, never-before-seen all-in-one solution will be built. Moreover, with virtually no presence on social networks, with a non-functional application and missing software code for analysis. All they have is their XIN coin, which has minuscule trading volume.

Weiss Ratings experts are warning investors about the dangers of investing in these tokens.