Cryptocurrency rating agencies are a thing? In short, yes! Just as traditional finance has Moody’s and Standard and Poor’s, blockchain and cryptocurrency projects have attracted the attention of startups aiming to provide clarity and a way to compare over 2,000 listed tokens. Below is our own list of 3 of the best cryptocurrency rating agencies, in no particular order.
TokenInsight is an independent third-party organization dedicated to providing accurate data, ratings, and analytics that contribute to market insight and a more intelligent financial decision-making process. Their website provides a clear and concise user interface for the curious crypto researcher. Rating methodology takes the form of what TokenInsight describes as a ‘widely accepted by several leading investment firms, including Matrix Partners China, Susquehanna International Group (SIG)…’
Rating results are given in letters, with Team, Project, and Ecosystem measured as bars. Furthermore, an Outlook/Watch forecast is given for each project, with comments such as ‘Stable Outlook’, ‘Positive Outlook’ and more assigned on an individual basis.
Within each full report, a sector or categorization is assigned (Bitcoin is a ‘general payments token’), with an About description, useful Industry Comparison and other project information.
TokenInsight certainly does a good job of pooling significant and valuable sources of data, presenting them in an intuitive if not occasionally slightly simplistic way. A useful rating agency!
Rency does much the same, or similar, as TokenInsight, describing themselves as ‘(the) team is made up of cryptocurrency enthusiasts who have collectively spent years researching blockchain technologies. We felt that the industry lacked clarity and objective analysis and we are working hard to standardize benchmarks that investors can use to compare and contrast the different blockchain projects.’ Interestingly their website doesn’t contain a rating methodology but does include an FAQ explaining their process.
Rating results are given single letters, with a -, neutral or + used to delineate between similar scores. Their sub-rating categories seem more in-depth than TokenInsights, marking each project out of 10 sections. It’s also possible to customize your personal rating profile. Each report contains sector categorizations and profile summaries.
Interestingly Rency doesn’t currently rate exchanges, or provide developer APIs. Although a different style of UI, this rating agency provides a slightly different take on how cryptocurrency projects should be analyzed and also provides valuable metrics and data for crypto research.
CoinBureau describes their projects’ aspirations as being ‘with the aim of being an authoritative voice on all things related to cryptocurrencies and blockchain technology.’ They offer reviews on Exchanges, Wallets, Brokers and Local Crypto, and education on 13 Coin Overviews, Mining, Smart Contracts and more. Their website’s structure is less clear than both TokenInsight and Rency, appearing more like an online news publication than rating agency.
No scores are provided until the end of their lengthy articles, with simple pros and cons listed. Fees, Platform, Customer Support and more are also scored out of 10 stars.
CoinBureau certainly provides valuable insights into a small selection of cryptocurrency projects and works well as an educational guide resource. However, when compared to our other cryptocurrency rating agencies as a tool of comparison, it falls slightly short. A worthy inclusion alongside other research resources.
So there you have it, 3 of the best cryptocurrency rating agencies available today. All with different strengths and value to offer the discerning researcher. Here at Newconomy we’re hard at work compiling our own market-leading cryptocurrency resources for beginners. Make sure to check back in the new for these unmissable posts.