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Chinese Govt Ranks Cryptos: ETH is number one, BTC at 13th Spot

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The Chinese government decided to publish its own ranking sheet regarding the cryptocurrencies. The results were unexpected, with Ethereum (ETH) being ranked the top crypto, and Bitcoin (BTC) landing on the 13th place.

China publishes its crypto ratings

The Ministry of Industry and Information technology of China has decided to release its own ranking sheet, in which it created a list of 28 cryptos. The cryptos were ranked according to three criteria, which include technology, application, as well as innovation.

According to China, the best crypto seems to be Ethereum (ETH), which is dominating the list. It is closely followed by Steem and Lisk, as well as Neo and Komodo. These five are also making the top 5 according to China. It is surprising that Komodo managed to rank this high since it is a lesser-known platform that holds the 58th place according to market cap. Another one that stands out from the rest is Steem, which does not allow for creating smart contracts, while the rest of them do.

Many were also surprised to find Stellar (XLM) on the list, considering that the crypto from which it initially developed, Ripple (XRP) did not even make the list. Ripple was completely excluded, which is seen as odd by many considering the similarities between the two platforms. Because of this, as well as other reasons, people are questioning the validity of this ranking.

Another interesting thing to note is that the report has put Monero (XMR) on the top ten. Monero is usually seen as an ‘undesirable’ and was red-flagged by various governments already. FSA shares that opinion and even Japan, who is seen as one of the countries most friendly towards cryptos doesn’t want to work with this currency.

Not many people were especially glad to find Bitcoin (BTC) on the 13th place. However, the surprising part is that Verge (XVG) is included on the list, but cryptos like EOS and VeChain (VEN) are nowhere to be found. This is yet another reason for crypto enthusiasts to suspect that the list was made by someone who was not exactly objective.

Crypto supporters had a lot to say regarding this list, from disbelief that XVG tech is deemed better than BTC tech, to wondering whether the list is even real, or at least credible, given the results.

Use Weiss Ratings as an alternative

Instead of this rating system, it is highly suggested that crypto enthusiasts try following Weiss Ratings. Weiss has been around for nearly 50 years now, ever since 1971. In this time, it graded pretty much everything, including things like insurance plans, stocks, and of course, cryptocurrencies.

In fact, they released their own top three rankings in February, where they put EOS, Cardano (ADA), and Steem.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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