CRO is a native token that powers the full suite of services created and offered by crypto.com. CRO coin also powers the Cronos chain which allows the user to use cryptocurrency to pay more online merchants as compared to other current options. In case one wants to invest in Cryptocurrency taking this coin can be the wisest decision ever. This is due to its ecosystem in the cryptocurrency world.
In addition, crypto.com coin (CRO), offers options like trading, investing, staking, NFTs, and wallets just to mention a few. For those who hold an important stake in the CRO coin, it gives them more than 250 different currencies, friendly fees as well as untamed discounts.
What is Crypto.com?
In November 2021, Crypto.com announced that the famous Staples Center, home of the Lakers and Clippers, would be renamed Crypto.com Arena. This huge news for the crypto community pushed crypto further into the mainstream. On the day of the announcement, Crypto.com’s native token, CRO, climbed nearly 30% to reach new all-time highs.
On February 18th, 2022 Crypto.com announced a rebrand of their CRO token to “Cronos”. In a medium article, they wrote, “Formerly known as “Crypto.org Coin”, CRO’s rebrand reflects the decentralization of the coin and tremendous growth of Cronos ecosystem“. Is this just a marketing stunt, or the beginning of something much larger?
The basis of the Crypto.com Foundation was the fact that each individual has freedom and independence in how they control their money, data, and identity. With an aim to make the world a better place, where people are at the forefront to safeguard their rights, crypto.com believes that decentralization and adapting to cryptocurrency is the future of such empowerment.
Following its recent exchange launch in the United States, the coin stands a bigger chance of taking the wave of the future. Crypto.com has been at the forefront to advertise its super brand and this has increased its publicity a big deal. Due to this advertisement, the crypto coin token is taking off every day.
By the end of 2022, crypto.com is planning to have 1 billion crypto users. This can be said to be realistic since crypto.com is using a lot of resources and investing more in creating awareness. There is a belief that crypto.com that more people will soon catch up with the coin leading to massive raise.
Mission & Vision
Accelerate the world’s transition to cryptocurrency so as to help people globally have control over their money, safeguard their data as well as protect their identity.
Cryptocurrency in every wallet. The company aims at achieving this by redefining money circulation, spending, and investment. Secondly by coming up with unique, simple, and effective financial services that have a greater impact on people’s way of living. Both socially, economically, and politically.
Crypto.com as the future of the Internet
Crypto.com coin aims to take the wave of the internet with a commitment that the future is; Web 3 which is powered by cryptocurrency. It will have mutual participation of both the users, creators as well as builders so as to achieve a more fair and equitable environment.
Crypto.com Strategies
To neutralize the stated challenges the Company has been implementing strategies and techniques to make it the best company ever in cryptocurrency exchanges. The Company intends to leverage capital so as to solve the payment wrangles, build trade and financial services as their main revenue-generating tool, and build trust with the customers to boost their confidence in the crypto.com coin. In the line of building trust the company has been ranked as the first cryptocurrency operating company globally to Singapore Data Protection Trust Mark (DPTM), Service Organization Control( SOC) 2 Compliance, ISO/IEC 27001:2013, ISO/IEC 27701:2019, PCI: DSS 3.2.1 Level 1 compliance. The metaverse experience will also play a big role in bringing a self-sustaining virtuous cycle. These strategies will play a bigger part in the realization of the company’s mission and vision
Development milestones
Shortly after its launch, by September of the same year, the company had acquired a Visa card-issuing capacity. which would receive a green light later in October 2017. A year later the same month the company started shipping its Visa to Asia. In February 2019 Visa had new additional cashback and by March, the crypto.com checkout solution powered by the Crypto.org chain was launched.
In May, June, and July, the Crypto.org chain sample wallet on the prototype test net was launched, Crypto.org pay gift card services were launched and the official shipping of visa cards to the US started, respectively.
The ‘Pay Your Friend’s option’ would later be introduced in August 2019. In March 2020, Visa card shipping was further extended to the UK. In April the company made a statement on Ledgers integration with crypto.com checkout solutions. In May of the same year, Crypto.com expanded Visa card shipping to the EU, introduced a white-label program, and gained a greenlight for Visa cards in Canada.
Before the closure of business that year in December, the company started shipping Visa cards in Canada. In March last year, the company announced a worldwide alliance partnership and membership with Visa. The shipping was later expanded to Brazil and Australia in November.
Trading milestones
In October 2016, the Crypto.com app introduced its go-live was announced in August 2017. In May 2018, the company launched the open beta program for the Crypto.com app. In May 2019, crypto earn and crypto pay were launched while the crypto.com beta exchange version was launched in November. At the end of that year in December, the syndicate on the crypto.com exchange was launched.
The year 2020 is termed as the turning point of trading and financial service where more milestones were achieved in this sector. The year kicked off with a launch of the crypto.com Defi wallet that led to the upgrading of the crypto.com exchange infrastructure in June. Defi swap was introduced in September, margin trading in crypto.com exchange in November, and a class 3 VFA license was issued in Europe the same month. By December, the company had already acquired an Australian Financial Service License(AFSL). Last year, the company introduced crypto.com tax, received an Electronic Money Institution (EMI) license, and launched an OTC portal in March, July, and November respectively.
Metaverse milestones
Despite the company being founded in 2016, the Company started showing significant milestones early last year. In March 2021, the company launched the crypto.com NFT platform which was opened for all users to mint personal NFTs in September. Today, this Crypto.com NFT supports Ethereum-based NFTs since February this year.
Blockchain infrastructure, security, and compliance milestones
In November 2018 the company announced the crypto.org chain and the CRO tokens. May 2019 marked the beginning of a journey to win customers’ trust and confidence by enhancing the security and compliance sector. The company Achieved ISO/IEC 27001:2013
Certification that year. Crypto.org Chain Thaler Alpha Test net Onboarded early-access validator and PCI: DSS 3.2.1 (Level 1) Certification were all September milestones.
In March 2020 incentives were introduced for the already launched crypto.org chain Thaler Alpha test net. Both the launch of Crypto.org Chain Block Explorer v2.0 and ISO/IEC 27701:2019 Certification were achieved in June with the company being rated as the only one to achieve such status globally. Crypto.org Chain Croeseid Test net, “Adaptive (Tier 4)” and Crypto.org Main net dry run were achieved in October, November, and December respectively.
Cronos TestNet was launched in July 2021 with an effect on the expansion of insurance coverage to US$750M in September. Cronos Mainnet was launched in November and SOC 2 compliance was achieved the same month. In December the company got the Singapore Data Protection Trust Mark(DPTM). Early this year SO 22301:2019 Certification was achieved in February.
To date, the company’s goal and the aim to make vital and significant milestones continues as they aim at bettering the experiences of their users.
2022 Milestones
The spirit of achieving more and more and always aiming to be at the top has taken a different route altogether this year. The Company welcomed the year with remarkable partnerships and milestones. The thrilling collaboration with the LeBron James Family Foundation and LeBron James himself seeks to enhance Web 3 by focusing on both educational and workforce development opportunities. The newly signed deal with the Australian Football League is said to last for a period of five years.
At the time of writing, the number of followers has increased to more than 1.8 million followers on Twitter. This is a significant increase and shows that many people across the globe are gaining more interest in crypto.com.
Crypto.com coin
The crypto.com coin is taking the cryptocurrency world by storm. It was founded on China’s southern coast, Hong Kong, in 2016 at the China Renaissance Investment Bank. Today, CRO blockchain serves primarily 90 countries with more than 250 different cryptocurrencies and serves more than 10 million customers across the globe. It has been ranked to have exceptional options which are friendly to both beginners as well as advanced users. Additional features, low fees as well an extensive list of currencies have made this possible.
CRO has gained more popularity due to its creative and unique technique of celebrity endorsements. According to Ben Lay, who is the creative director at Crypto.com, these endorsements have helped in creating more publicity for this coin creating a need and an interest in this coin. “LeBron James ignites this technique with courage,” stated Ben Lay. For those willing to buy and hold currencies like Bitcoins and Ethereum, there could be no wiser decision than choosing a crypto.com coin.
How do I open a crypto.com account?
The Cypto.com app is available on both Android and iOS devices by using the google play store or the Apple store. After downloading the App start by keying in your email address and choosing a preferred password. Verification is done through your name, photo ID image, and a selfie. After the verification one only needs to link a payment method for example a bank account.
For a trader looking for reduced fees and a place with an extensive list of supported currencies then crypto.com is the platform to be in. If someone is comfortable with the self-service experience then crypto.com is all you need. In addition, it is convenient for those who see a need to manage their financial services using a mobile app.
Accessing Crypto.com is very easy in the comfort of your home. Its mobile App is termed its central hub and can be accessed through Android and iOS devices. The trading experience is said to be user-friendly since it includes all the information one needs. The app allows a user to view their portfolio as well as available popular assets in a straightforward way.
The mobile application also allows the user to view everything required for trading currencies. It also includes the sign-up options, making the payment with the cryptocurrency option, as well as what you need to earn through staking your crypto.
Crypto.com mobile app gives a user the opportunity to navigate by allowing them to buy and sell crypto, send crypto, track crypto, and manage their Visa card through the online and offline worlds.
Where to buy CRO
You need an account with a cryptocurrency exchange that supports CRO. If you don’t already have an account, it may be easiest to go with the Crypto.com exchange. If you’d prefer a different platform, beginner-friendly Coinbase can be an excellent place to start, and KuCoin and FTX also support CRO trading. CoinMarketCap has a wide array of CRO trading pairs if you want to look further.
How to Buy CRO
CRO runs on Crypto.com’s blockchain, which is also called Cronos. The CRO token is fairly easy to buy, here’s how to get started:
Step 1 – Open an Account with a Cryptocurrency Exchange
You need an account with a cryptocurrency exchange that supports CRO. If you don’t already have an account, it may be easiest to go with the Crypto.com exchange.
Step 2 – Link Your Payment Source
The simplest way to buy CRO is to transfer fiat currency, like U.S. dollars, onto the exchange that you can then use to buy CRO directly. If you already have crypto, you may be able to transfer these coins onto the exchange and then trade them on directly for Cronos tokens.
You may also use a debit or credit card but this will likely be the most expensive way to purchase crypto. Not only will you pay higher fees than you would otherwise on the exchange, but you’ll also probably be charged fees from your credit card company, jacking up the cost.
Step 3 – Buy CRO
Once you’ve funded your account or set up a payment method, you can then purchase CRO. The exchange you use should give you the option to search for CRO, decide how much you want to buy, and then view the cost to buy. Once you click buy, the coins will be available on your account on the exchange.
Step 4 – Transfer CRO to a Wallet
This last step isn’t mandatory but can be a smart idea if you’re planning to hold your CRO for the long term. By moving your coins off of an exchange and into a separate crypto wallet, you help better protect your investments. Not only does this reduce your risk if your exchange of choice gets hacked, but if you pick a “cold,” or offline, wallet, your crypto becomes virtually unhackable, though you will generally have to pay a small withdrawal fee to move your coins off of the exchange.
If you’re only planning to keep your CRO for a short amount of time—or simply don’t want to put up with the hassle of withdrawing your crypto—you can keep your crypto on the exchange you purchase it from. The vast majority of reputable exchanges now store most customer assets offline and have insurance to cover any coins lost to hacks.
Should you get a Crypto.com DeFi wallet?
The greatest advantage of the Crypto.com DeFi wallet is that its design favors both the users who are beginners and the advanced ones. Beginners find it easy to navigate through the app thanks to the smooth guidelines up to the level of making their first transactions. Defi wallet currently has more than 100 coins but with more coins progressively joining the wave. The largest crypto exchanges include but are not limited to; BTC, CRO, ATOM, LCH, DOT, etc. Users are allowed to get their preferred coins using their credit cards. Users can not only view the image of their NFTs in their ledger hardware wallets, but also drop, attributes, creator, and the description of the NFT.
Users can also exchange their tokens in the Crypto.com DeFi wallet using the DeFi swap. They can also generate up to 20 and more tokens using the DeFi Earn.
Cryptocurrencies available on Crypto.com
Crypto.com has an extensive list of more than 250 currencies. Most of these currencies are for spot trading while others allow staking. It is advisable to buy and sell the most popular and highest traded currencies.
- Ethereum (ETH)
- Bitcoin (BTC)
- Dogecoin (DOGE)
- Cardano (ADA)
- Polkadot (DOT)
CRO is a native coin of Crypto.com whose trading fee ranges up to 0.40%. To qualify for a lower fee of up to 0%, one needs to be a high-volume trader and have a large CRO stake. The Company also gives you additional rewards such as higher credit cards and higher staking interest rates.
Benefits of buying CRO
Like any other coin in the cryptocurrency, the Crypto.com coin (CRO) has its own advantages and disadvantages. It is crucial that you always check on such things to make a sensible decision since investing in cryptocurrency can be very risky. Be sure to consult a financial professional before making any crucial financial decisions.
- Crypto.com, allows its users to invest in NFTs and offers its own credit card and crypto wallet.
- CRO also supports cryptocurrency trading, staking, and swapping.
- Secondly, Crypto.com gives its users discounts as well as the availability of up to a 0.40% trading fee that is competitive.
- The Crypto.com coin offers more than 250 different currencies. This is an extensive offer making Crypto.com the best coin in the market.
- Strong potential due to its expanded services and features
CRO features and services
Crypto.com pay which is a mobile service that allows the user to send and receive cryptocurrency anywhere in the world and anytime is defined by offers such as pay your friends, pay gift cards, pay airtime top-up and pay to check out. Crypto.com pay is also structured in a way that it is for developers by developers, simple setup, low volatility since merchants are paid with their own preferred fiat or cryptocurrency, and low fees.
Pay check out allows customers to spend any cryptos for free as well as offers low transaction fees to the merchants. For transactions, it’s at 0% while for payout it ranges at 0.5%, and other fee rates from 1-3 %. Secondly, both the customers and merchants are qualified for incentives such as free cashback. On user experience, the dashboard has a user guide for merchants making it easy to navigate and track transactions. Last but not least there is a smooth and instant payment and transactions. If a customer wants to pay in crypto;
- The customer clicks on crypto.com to pay
- A QR code appears to be scanned either by using the Crypto.com app or a supporting wallet
- The customer’s account is debited.
Crypto.com users can shop and pay at any prominent brand globally. Incentives such as cashback in CRO after every purchase are enjoyed by customers. Crypto.com has a wide range of categories of brands in which one can use gift cards. These categories include but are not limited to; entertainment, fashion and design, airlines, food and beverages, games, telecommunication, general retail, gas and fuel, groceries, and also tax services. The Company has partnered with brands like Amazon, Nike, Google Play, iTunes, and many more with more brands globally joining the list every day.
CRO, BTC, ETH, and LTC are the common cryptocurrencies that users use to pay for mobile airtime. Crypto.com enables airtime to top up to over 400 mobile networks in more than 100 countries. This includes Airtel, Vodafone, Orange, T-money, and many more. Users can top up their own devices or transfer by topping up for friends and family.
The main aim of ‘Pay Your Friends’, is to help crypto.com fetch more people into the crypto world. The user plays a part in enticing friends by paying them through crypto which is a step ahead of the worldwide adoption of cryptocurrency. By paying friends using this service the user earns rewards, as well as no fees, are charged. What is more motivating is that in case a customer pays using CRO tokens, they qualify for up to 10% cashback. Additionally, the user enjoys a free and instant experience.
Buying and selling with cryptocurrency can be quite expensive for users. However, with the introduction of visa cards, this problem has been solved expeditiously, especially when spending abroad. First, users can now transact without worrying about the annual fees with the expectation of this merchant location being extended to more than 80 million globally. Secondly, there is no need to endure the long processing time that initially was up to 4 days, with Visa cards a user can top up and pay instantly. Financial institutions charged up to 5% fees of the initial purchase amount in case one is spending abroad. With Visa cards, customers can now shop overseas and spend without markups as well as enjoy amazing perks that are only available on the Visa cards.
The Visa cards can be said to be one of the best forms of payment since their service challenges even the best credit card globally. As shown above, the Cards come in different colors and have different benefits.
Added applications of CRO and Crypto.com
Value proposition
Users can navigate through Crypto.com easily due to financial services solutions such as; Discounts for users staking CRO, a smooth user interface on both the mobile devices and desktops, institutional-grade infrastructure, and extensive product offerings ranging from margin trading to derivatives and many more, and also engaging events.
Margin Trading
In margin trading, a user can borrow cryptocurrencies on crypto.com so as to trade with them on the spot market. This loan is an added advantage to the user since it gives them an opportunity to log in and buy crypto in a larger position despite the balance of their account. In most instances, users take these loans due to their low account balances and end up purchasing larger positions.
Derivatives Trading
Perpetuals is the first derivative product to be offered on crypto.com. It helps the users or traders to manage their risk when buying and selling their assets where the asset is never traded. Users also have an added advantage since there is no rush for perpetual as they have no expiry date and one can hold them the longest time they want. In addition, they do not have any specific settlement date in the cryptocurrency exchange.
Spot Trading
For best prices and deep liquidity pools, crypto.com has an engine known as Proprietary Vortex Liquidity Engine that allows users to enjoy this. High trading volume cryptocurrencies such as USDC, BTC, ETH, LTC, CRO, and many more, are supported as trading pairs in crypto exchanges. The trading fees on the crypto exchange services, entirely depend on the trading volume and stake of the CRO. For low trading fees, one needs to have a high trading volume. Alternatively, a user can get discounts once they pay the fees in CRO in the popular crypto exchanges.
Crypto.com Lending
By lending, it means that the user will borrow against their cryptocurrency without having to sell them. Crypto.com lending also has an additional option for institutional customers who need more accommodating loan terms by applying for such through the lending pro on the crypto.com lending platform. This service allows lending of higher loans and the availability of flexible loan terms.
OTC Portal
There is a need to note that there is an existence of institutional and retail VIP clients in the crypto exchanges. The Crypto.com OTC portal allows these clients to assess instant and customized quotes for block trade for more than ten trading pairs. These multiple cryptocurrency exchanges are made available to the large volume traders who in turn buy and sell the trading pairs at an approved price. Traders not only enjoy reduced transaction fees but also avoid the failure to meet standards or deadlines due to their decent daily trading volumes.
Syndicate
Powered by CRO tokens, syndicate trading is a platform on Crypto.com exchange, offering discounted tokens. In case a project wants to raise awareness and educate the users, then syndicate trading is the best option. Crypto.com exchange gives up to a 50% discount on token allocation for any listing project. CRO holders are prioritized in such events through token allocation.
Staking Benefits
Staking benefits are provided by CRO stake-and-earn and soft-staking for idle balance. CRO stake-and-earn allows users to receive 10% interest annually when they stake the CRO for not less than 180 days. Soft staking for idle balance, on the other hand, gives users an alternative way to get rewarded up to 4% in interest every year on cryptocurrencies held in the exchange.
Crypto.com aims at expanding its benefits and promotions continuously for retail and institutional users.
Crypto.com Defi wallet
Crypto.com Defi wallet has played a big role in giving users freedom and the right to full ownership of their private keys. It was also launched with the purpose to help users safeguard their data, money, and identity in a better way altogether.
Crypto.com Defi wallet gives users crypto assets control fully by providing decentralized products which enable keys to be at the convenience and hands of the users. In the user’s devices, their information is safe and coin network secured due to the availability of Biometrics and passwords with an additional 2-factor authentication.
In addition, the speed and network fees are customized making the transaction setup flexible. Lastly, there is an easy and convenient connection to the Crypto.com App allowing users to access the many crypto services in the app.
What’s the difference between Crypto.com wallet and the app?
It is important to note that the Crypto.com wallet and the crypto.com app have different features and are designed for different purposes and uses.
Crypto.com Defi wallet is a non-custodial wallet that enables users to have full control over their private keys as well as their crypto. Despite having this control it is risky for one to lose their recovery phrase since one will not be able to access their crypto and wallet. In the crypto app on the other hand in case the user loses his keys, it’s easy to recover them using the crypto.com support team.
The risk of a data branch is lower in crypto.com wallets because the user does not need to prove their identity. On the contrary, the crypto.com app requires the users to prove their identity and perform the Know Your Customer (KYC) ID verification.
Transaction fees are a must in the Crypto.com wallet and the user needs to wait for the confirmation which is not the case in the rypto App if the transfer is transacted within the Crypto.com ecosystem. However, in the crypto.com app, the wallet is partially decentralized with Crypto.com being the sole custodian of the user’s hardware wallet.
Risks of Buying CRO
If you do not hold or use CRO, its cons can definitely outweigh the benefits.
- The fees charged are said to be high. However, users, who hold and use CRO, get discounts hence making them a bit lucky.
- Despite these discounts, customers have termed them to be complex, confusing, and not easy to understand and navigate.
- The support customer center of crypto.com has been said to be slow on feedback and responses from the customers
- The adoption of the Crypto.com coin has not been as fast as it was intended due to customer insecurity due to past experiences of fraud. New users find it complex to use. Due to its nature of strictly speculative trading, users may have other interests and purposes which in turn, leads to poor user experience.
Should you buy CRO?
For a trader looking for reduced fees and a place with an extensive list of supported currencies then crypto.com is the platform to be in. If someone is comfortable with the self-service experience then crypto.com is all you need. In addition, it is convenient for those who see a need to manage their financial services using a mobile app.
FAQs about buying CRO
How can someone access customer service?
Phone user help has not been enabled but users can place complaints and get feedback through email, live chat, and via a help page.
How do I open a crypto.com account?
The Crypto.com app is available on both Android and iOS devices by using the google play store or the Apple store. After downloading the App start by keying in your email address and choosing a preferred password. Verification is done through your name, photo ID image, and a selfie. After the verification one only needs to link a payment method for example a bank account.
Source: https://www.cryptopolitan.com/how-to-buy-cro-coin/