Rating Agency “CryptoAgency” set up for Accreditation of Cryptobusinesses

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CryptoAgency

In the virtual world of cryptocurrencies where a New Sentiment Index has just been announced announced for tracking public opinion on Bitcoin in the UK, CryptoCurrency Business Accreditation was an inevitability.

CryptoAgency is a new platform that brings together a ranked crypto-businesses listing, and open house discussions on the services (not) rendered.

Larry Fenton decided to begin CryptoAgency following a bitter experience with an exchange. The lack of support-infrastructure to handle such frauds inspired him to begin CryptoAgency.org, in March this year.

CryptoAgency will allow companies offering any of the cryptocurrency services such as mining, payment, or any other service to gain accreditation across 3 levels- bronze, silver and gold costing anywhere between $400 per year to $1,600 each year.

As Fenton explains, “Charges are decided based on a company’s size and longevity, but most people will start with bronze.”

However, the accreditation cannot be simply purchased with a subscription.

Instead, the company has to qualify by complying with certain rules. These include disclosure of thefts, if any in the year, or failure to repay loans. Such mistakes can result in the company losing its accreditation.

As Fenton reiterates, “The value of the system lies in the community rating,” with free membership for end user community.

He also explains, that, “We check the web site daily and we read all the reviews and the comments. Someone would be anonymous to the rest of the world but we know their real name, email address and number. We can personally contact them to verify their information.”

Similar to structure to another service – Better Business Bureau, Fenton deferred its use due to potential trademark clashes.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com