Cryptocurrencies are rated for the first time: Ethereum B, Bitcoin C+

Ratings agency Weiss Ratings has rated digital currencies and said Ethereum is rated higher than Bitcoin.

The ratings agency said on Wednesday it gave ethereum a B rating because it stands to benefit from technological upgrades and higher transaction speeds despite bottlenecks.

In contrast, Bitcoin received a C+ rating. Weiss Ratings said in a statement that Bitcoin has encountered significant network bottlenecks, resulting in delays and high transaction costs. Although some efforts are achieving initial success, Bitcoin currently has no mechanism to immediately upgrade its software code. "

The agency's rating covers a total of 74 cryptocurrencies, of which Ethereum and EOS received a B rating, and no cryptocurrency received an A rating.

Martin D. Weiss, founder of Weiss Rating, told CNBC on Friday that the agency uses a computer model to rate cryptocurrencies based on four indicators: risk, return, technology and basic factors of acceptance and security.

Martin D. Weiss said: "Many digital currencies are not transparent, some are over-hyped by the media, or are prone to collapse. Therefore, the market urgently needs clear, robust and fair ratings. We are proud to be the first rating agency to provide investors with digital currency ratings to help them find truly reliable cryptocurrencies. Our ratings are based on hard data and objective analysis. But the results will definitely cause some controversy, and some ratings may surprise people."

Bitcoin, the digital currency with the largest market value, rose 1% to nearly $10,955 during trading on Wednesday, while Ethereum, the second-largest digital currency by market value, rose about 3% to $1,019.

According to data from BitInfoCharts, the median transaction fee for Bitcoin was just over $10 in the past few weeks. But the fee fell to $5 on Tuesday. The median transaction fee for Ethereum is 85 cents.