Tuesday, 25 September, 2018

A New Platform Will Make Zero-Fee Crypto Trading a Reality

92899808_xl A New Platform Will Make Zero-Fee Crypto Trading a Reality
Nellie Chapman | 26 January, 2018, 09:27

Offering the service for free could seem risky.

Fears that the United Kingdom could be one of the next nations to strictly regulate cryptocurrency trading appear to have had an impact on Bitcoin's price.

None of the 74 cryptocurrencies measured received an "excellent" A rating. Ethereum's B rating was awarded mainly because the currency "benefits from more readily upgradable technology and better speed, despite some bottlenecks". Weiss said the cryptocurrency is "encountering major network bottlenecks, causing delays and high transactions costs", which were major reasons for its low rating.

The rating notes added: "Despite intense ongoing efforts that are achieving some initial success, bitcoin has no immediate mechanism for promptly upgrading its software code".

Reports from Barron's and The New York Times have noted Weiss' lack of A ratings in coverage of insurance stocks, mutual funds and other securities.

Weiss Ratings, which claimed this week it was to be the first company to offer ratings on cryptocurrencies, gave its first assessment on bitcoin and its rivals.

S&P declined to answer our requests, but Moody's said that although it had no current plans to directly rate the digital currencies, "cryptocurrencies, and the underlying blockchain technology that supports them, are a fast-developing area and we continue to evaluate applications of this technology by rated entities through our research". Given the unique method of altcoin generation (that is, cryptocurrency mining, where new coins are digitally minted to prompt natural and realistic growth) this means that, although the sector will see a fall in the per-coin value of the currencies concerned, the overall market value will be increased. "They need the clarity that only robust, impartial ratings can provide". "Earlier commentary on social media expressed considerable fear we were about to release negative ratings on their preferred currencies", Weiss Ratings founder Martin D. Weiss said in a statement. This included thousands from Europe and Asia.

"But last night, we had more than 100,000 unique visitors in a matter of hours, nearly entirely from Asia, until early this morning, when more of the traffic rolled over to Europe". Ripple traded near US$1.37 today, according to CoinMarketCap.