What is Crypto.com Coin (CRO)?

What is Crypto.com Coin (CRO)?

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Crypto.com Chain is a decentralized and open-source blockchain that was developed by the official Crypto.com company that is involved with payments, trading, and additional financial services.

CRO is the Crypto.com Chain's native cryptocurrency. It is one of the products in Crypto.com's portfolio targeted at advancing the global use of digital currencies as a means of strengthening individual control over money, conserving user data, and guaranteeing users' identities.

The CRO blockchain is used to support the Crypto.com Pay mobile payment application.

 

Component Crypto.com Coin (CRO)
Technologies Ethash
Market Capitalization $15.5 Billion+
Open-Source Yes
Consensus Mechanism Proof of Stake
Smart Contracts Yes
Founders/Authors Kris Marszalek, Rafael Melo, Gary Or and Bobby Bao founded Crypto.com
Launch Date 2018
Circulating Supply of Coins 25,263,013,692 CRO
Maximum Coin Supply 30,263,013,692 CRO
Mining-based Coin? No
Is Crypto.com Coin a Stablecoin? No
Does Crypto.com Coin have a burn rate? Yes
Does Crypto.com Coin have a Whitepaper? Yes, the white paper can be viewed here

 

Evolution and Development of Crypto.com Coin

Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo launched the firm as “Monaco” in 2016. CRO was founded by Crypto.com, a Hong Kong-based transaction and cryptocurrency platform.

It is an intermediate currency that enables the conversion of cryptocurrencies to their fiat equivalents at a significantly reduced cost.

Crypto.com Coin is the native cryptocurrency of Crypto.com, and it was launched in 2018.

 

What makes Crypto.com Coin unique?

The CRO blockchain is primarily concerned with delivering usefulness to Crypto.com's payment, trading, and financial services customers.

Owners of CRO currencies may stake their tokens on the Crypto.com Chain to serve as a verifier and earn fees for validating network transactions. Additionally, CRO coins may be used to settle Crypto.com Chain transaction fees.

Users could earn up to 20% cashback when paying retailers in CRO and up to 10% when buying gift cards and carrying out peer-to-peer transactions to other users using the Crypto.com Pay payments app.

In terms of trading applications, the Crypto.com App enables users to receive token incentives for staking CRO on chosen listings.

Additionally, customers may earn yearly interest on their Crypto.com Coins of up to 10%-12% by staking them on the Crypto.com Exchange app or the Crypto.com metal Visa Card.

In general, CRO catalyzes Crypto.com's worldwide push to expand cryptocurrency acceptance. As such, the firm is always looking for and creating new use cases for the cryptocurrency that will let users increase their control over their money, data, and identities.

 

What are the main uses for Crypto.com Coin?

Crypto.com's blockchain is powered by its native cryptocurrency. While the CRO was first developed as an ERC20 reward token, it was later migrated to Crypto.com's Cronos network.

Users can use CRO as a medium of exchange or convert cryptocurrency to cash at competitive rates. The Crypto.com blockchain is intended to simplify, as well as to facilitate online crypto payments more inexpensive and accessible to everyone.

It is designed for optimal scalability by enabling fast payment confirmations. Confirmations are often received in less than a second, and the infrastructure is intended to sustain around 50,000 transactions per second.

 

What is the future potential for Crypto.com Coin?

The Crypto.com blockchain platform provides a diverse variety of payment, trading, and investment opportunities.

It provides a range of payment options that are easy to acquire and apply while also giving profitable trading and investing opportunities for income generation.

This leads to a sustainable DeFi ecosystem that has the potential to accelerate bitcoin adoption globally.

 

Price analysis on Crypto.com Coin

Crypto.com Coin was initially launched in 2018, and its price analysis over the past four years are as follows:

 

  2018 2019 2020 2021 to date
CRO Price High $0.030 $0.1034 $0.1798 $0.900
CRO Price Low $0.018 $0.012 $0.030 $0.059
Market Cap $40.9M $814M $3.55B $22.7B

 

Price prediction on Crypto.com Coin

According to expert forecasts, CRO's coin price could reach $0.99 by the end of 2022, compelling investors to purchase CRO tokens at their present price. CRO may reach $0.99 by the middle of the year and $2.1 after five years, according to historical statistics and expert forecasts.

CRO has developed a fast, dependable network and focuses on the product's user experience through algorithm computation. These characteristics may contribute to the CRO coin prediction achieving greater values of $1.00 per token.

If the pursuit of functioning cryptocurrency values persists into 2023, the price could see a paradigm shift. Based on an overall prognosis for the 2025 price trend.

CRO is also involved in community projects, with a particular investment in education, outreach, and innovation, all of which may contribute to the coin price prediction reaching a noticeable level of $1.82.

The token is expected to catch up with other cryptocurrencies, and the CRO price forecast 2025 will stabilize to provide its consumers with solid returns.

 

Which wallets are the best option for storing Crypto.com coins?

The best wallet options for Crypto.com coins are as follows:

  1. SafePal 
  2. CoolWallet Pro
  3. Lumi Wallet
  4. Freewallet
  5. DeFi Wallet App

 

1. SafePal: SafePal is a low-cost, secure, and user-friendly hardware wallet. Additionally, it is the first physical wallet brand in which Binance, one of the world's largest exchanges, has invested.

SafePal now supports over 10,000 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Binance Coin.

 

2. CoolWallet Pro: CoolWallet Pro is the next evolution in CoolBitX's mission to give hardware wallet customers the highest possible level of security, ease, and usefulness when it comes to owning and managing cryptocurrency.

Following the success of the ground-breaking CoolWallet S, the Pro enhances the CoolWallet series fully by improving security, currency compatibility, and design, as well as integrating critical new DeFi staking functionality previously unavailable in cold wallets.

 

3. Lumi Wallet: The Lumi wallet, which was launched in 2017, supports a wide variety of cryptocurrencies, comprising of major coins, ERC-20 tokens, and ERC-721 tokens. Lumi wallet is a simple-to-use cryptocurrency wallet that is equally suited to newcomers and seasoned cryptocurrency users.

 

4. Freewallet: Freewallet is a collection of bitcoin wallets optimized for use on mobile devices. It is a platform that provides several wallets for various digital assets on mobile devices.

Freewallet is a platform that offers several wallets for different digital assets on mobile devices. It was founded in 2016, and its initial product was the FantomCoin wallet.

The project's developer is headquartered in Tallinn, Estonia and its user interface is multilingual and it is extremely user-friendly.

 

5. DeFi Wallet App: This mobile app allows users full control of their funds in addition to providing access to over 100 coins, including BTC, ETH, CRO, ATOM, DOT, LTC, and many other ERC-20 tokens.

Users can also import an existing wallet using a 12, 18, or 24-word recovery phrase after downloading and installing the app. With this app, users can send and receive tokens. In addition, users can also earn interest on more than 35 tokens.

 

Where can you buy Crypto.com Coin?

Crypto.com coin can be purchased from any of the following crypto exchange trading platforms:

  1. Bittrex
  2. CoinTiger
  3. Crypto.com
  4. Upbit
  5. Uniswap

 

1. Bittrex: Bittrex is a cryptocurrency exchange that has become one of the most well-known in the world. Even though it is a newcomer to the market, it has already established itself as one of the leading multi-altcoin cryptocurrency exchanges.

  

PROS CONS
The registration procedure and verification is quick and hassle-free There is no margin trading offered
The exchange features dedicated support Liquidity can become very low with some crypto coins
The platform is ideal for arbitrage The trading fees for makers and takers is higher than other exchanges
There are 1-minute chart timeframes available   
Traders can use fiat money deposits  
The exchange has lower trading fees for high volume traders  

 

2. CoinTiger: In addition to having users from all over the world, CoinTiger is one of the largest cryptocurrency exchanges in the world. Investors may acquire and sell tokens on the exchange, generate passive cryptocurrency income, trade crypto futures, and make investments in freshly listed currencies, among other things.

 

PROS CONS
The platform is well-known for its competitive fees There are limited charting analysis tools that can be used in short-term trading
There is a wide range of crypto trading pairs available Unregulated
The exchange platform offers an innovative mobile app  There is a limited selection of education and a lack of support
Traders have access to a range of trading opportunities including leveraged futures contracts  
Traders are given access to crypto staking  

 

3. Crypto.com: Coinbase is a well-known cryptocurrency exchange that offers support for a variety of cryptocurrencies and blockchain-related goods. Users may buy, sell, and exchange a diverse range of currencies, with trading costs that are very inexpensive compared to other exchanges.

The firm also provides proprietary bitcoin credit cards, a decentralized market, a standalone cryptocurrency wallet, and an NFT marketplace, among other services.

Moreover, it enables users to stake their cryptocurrency or retain it in a Crypto.com wallet, for a certain amount of time, in exchange for up to 14.5% interest.

 

PROS CONS
The crypto exchange offers an extensive list of crypto assets that can be bought, sold, and exchanged Unless traders use CRO they can expect high trading costs
The platform is known for its transparent and competitive trading costs Customer support is not prompt
There are discounts available on transaction costs The trading fee discounts can be difficult to navigate and understand
There is adequate support given for an entire ecosystem consisting of innovative digital products  

 

4. Upbit: Upbit is a global network for swapping and trading cryptocurrencies. Even though the platform is primarily centered in Asia, it attracts traders from all around the globe due to its cheap costs and massive trading volumes.

 

PROS CONS
The platform features an intuitive interface The exchange is aimed mostly at traders who reside in the Asian region
The platform offers a proprietary mobile trading app that has an added risk management system The Singapore dollar is the only supported fiat currency
The exchange offers major cryptocurrencies in addition to offering fiat trading pairs There are no programs aimed at partnerships or education
There is two-factor authentication for added security  
The exchange offers updated analysis on most crypto market trends  
There is no record of any fraud or unresolved conflicts  

  

5. Uniswap: Uniswap Exchange is exceptionally secure since it runs as a decentralized cryptocurrency exchange trading platform as well as a liquidity pool based on Ethereum, which means it shares the Ethereum blockchain's security.

 

PROS CONS
The exchange allows for the exchange of all ERC-20 tokens Gas fees can be extremely high
Users can earn high interest returns when they provide liquidity to the platform There is the inherent risk associated with impermanent loss in liquidity pools
With the introduction of UNI, the protocol's future can be assured  
There is no need to verify the identities of users  
Traders need not register to use the mobile trading app  

 

Does Crypto.com Coin use coin burns?

Yes, Crypto.com announced in February that it would embark on the largest token burn in history, effectively destroying 70 billion CRO tokens.

In addition to this burn, the exchange announced that it would burn the remaining 10.4 billion CRO monthly, allowing for the circulating supply to increase by more than 80% from the 24% before the burn.

After the burn, there were 5.9 billion tokens that were allocated to block rewards as well as the overall development of the project.

 

What is Crypto.com Coin’s largest Competitor?

Binance Coin is the largest competitor of CRO.

Binance coin (BNB) is a leading cryptocurrency with a market capitalization of over $100 billion. Traders may utilize BNB to stake and/or benefit from reduced trading costs while also benefiting from large charge reductions. BNB will remain popular with investors seeking a secure investment.

Crypto.com is a newcomer, but it has a lot of promise, thanks to its cheap fees, near-instant transactions, and dedicated merchant assistance. Its platform is meant to make cryptocurrencies simple and accessible to anybody — including newcomers.

The blockchain's decentralized structure provides anonymity and security, and many security mechanisms operate in concert to limit the danger of hacking and fraud.

Additionally, it offers credit cards with cashback benefits and other perks. The very accessible architecture of this multi-functional platform can catapult CRO's value into the stratosphere.

While both BNB and CRO coins are acceptable investment possibilities, they may appeal to investors for a variety of reasons. If you are looking for a card with a variety of features, spending incentives, competitive interest rates, and cheap trading costs, Crypto.com may be a better fit.

 

What is the Staking Process involved with Crypto.com Coin?

Staking is the act of locking and protecting crypto assets in exchange for interest or prizes. Staking CRO has several advantages.

Staking allows for new transactions on the blockchain. Crypto.com protocol users stake their currencies. The more a user stakes, the higher the chance that they will be chosen as a validator.

As fresh blocks of transactions are uploaded to the blockchain, verifying users are rewarded with additional currencies. Users retain possession of their CROs and may unstake them to trade.

Stakeholders in the Crypto.com blockchain can benefit in the following ways:

  • The ability to apply for Crypto.com Visa Cards
  • A wide range of cashback rewards, rebates, and many other benefits
  • Higher APRs

Blocks on the Crypto.com Chain are formed every 5-6 seconds, which means that the rewards that users can earn are generated within the same amount of time.

The stake pay-outs vary for each tier, and users need not have a minimum amount of CRO staked to qualify for rewards. Users also have the benefit that they are free to stake or unstake their tokens at any given time.

Users must hold CRO to stake it, and this can be purchased using either a credit card or a fiat digital wallet. Once users have CRO, they can visit the official Crypto.com app to start staking.

Users can easily increase their staking amount by using their associated CRO wallet and selecting the “Upgrade” option.

 

What can Crypto.com Coin smart contracts do?

Crypto.com recently announced support for the Binance Smart Chain on the DeFi Wallet.

Binance Smart Chain (BSC) is a distributed ledger technology (DLT) network optimized for the execution of smart contract-based applications.

BSC operates concurrently with Binance's native Binance Chain (BC), allowing users to benefit from both BC's large transaction throughput and BSC's smart contract features.

Additionally, BSC utilizes the Ethereum Virtual Machine (EVM), which enables the company to operate Ethereum-based apps such as MetaMask.

The overall objective of the platform lays in providing developers with the ability to develop DApps. In addition, it can also help the consumer manage their digital currencies across different chains with maximum capacity and with minimal latency.

The development team is consistently pursuing the addition of BSC DApps to the DeFi Wallet.

 

Is Crypto.com Coin a Good Investment?

Yes, Crypto.com Coin is a good investment.

It has been anticipated by optimistic analysts that CRO's value would increase over $1 in the not-too-distant future. Online crypto payments will become simpler and more economical thanks to the Crypto.com blockchain.

It is designed to offer maximum scalability by allowing for quick payment confirmations. Chain is constructed on top of the Ethereum blockchain, making it ERC20 compatible, which further enhances the security of Crypto.com.

The network is protected using the Ethash function, a modified Dagger-Hashimoto proof of work (PoW) method.

 

What is the supply and distribution of Crypto.com Coin?

The circulating supply of Crypto.com coins is 25,263,013,692 CRO, while there is a max supply of 30,263,013,692 CRO. After the greatest coin burn in history, 70 billion CRO tokens were destroyed.

There are a further 10.4 billion tokens held in smart contracts, which will be burnt periodically when they are freed.

There is a 20% reserve for capital, 20% for long-term incentives, 10% for community engagement, and 20% reserved for ecological awards in the CRO supply, which is distributed as follows: 

Every day over the next five years, the remaining 30% will be distributed for secondary distribution and promotional purposes.

 

Is Crypto.com Coin a viable Alternative Coin?

Yes, Crypto.com Coin is a good alternative coin.

  • Hacking – the Crypto.com chain has never been hacked.
  • Security – Crypto.com is extremely secure and employs robust technology to ensure that malicious entities cannot overthrow the network.
  • Transaction speed – Confirmations are often received in less than a second, and the infrastructure is intended to sustain around 50,000 transactions per second.
  • Potential Investment – Crypto.com is fast becoming a popular crypto exchange, and its token has a range of uses.
  • Popularity – Crypto.com Coin is one of the top 20 alternative coins in the crypto market.

 

What are the differences between Crypto.com Coin and Bitcoin?

Bitcoin is the original cryptocurrency that is the best store of value and a decent medium of exchange. BTC has a much higher price than CRO in addition to having a larger market capitalization.

However, the circulating supply of Bitcoin is much lower. Despite this, when considering price charts, Bitcoin shows overall robust performance as opposed to CRO.

 

  Bitcoin Crypto.com Coin
Price change 20/21 +400% +930%
Market Cap $800 Billion+ $15.5 Billion+
Past Hacks None None
Popularity Very High Very High
Altcoin Rank #1 – Original Crypto #15

 

What are the differences between Crypto.com Coin and Ethereum?

Ethereum is the second-largest cryptocurrency and the largest alternative coin in the market. CRO is much cheaper than Ethereum, but Ethereum is vastly more popular than Crypto.com because it is a programmable blockchain used to create and launch smart contracts and DApps.

 

  Ethereum Crypto.com Coin
Price change 20/21 +880% +930%
Market Cap $460 Billion+ $15.5 Billion+
Past Hacks None None
Popularity Very High Very High
Altcoin Rank #2 #15

 

What are the differences between Crypto.com Coin and Dogecoin?

As the first cryptocurrency company to have achieved ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013, and PCI: DSS 3.2.1, Level 1 compliance and be individually evaluated at Tier 4.

This is the highest possible level for both NIST Cybersecurity and Privacy Frameworks. Crypto.com is based on a foundation of security, privacy, and compliance. Crypto.com is based in Hong Kong with a staff of more than 600 people.

Digital currency Dogecoin is a meme coin and online cryptocurrency that is used to pay content producers on numerous social sites. It is decentralized and peer-to-peer.

 

  Dogecoin Crypto.com Coin
Price change 20/21 +7,300% +930%
Market Cap $22 Billion+ $15.5 Billion+
Past Hacks None None
Popularity High Very High
Altcoin Rank #12 #15

 

What are the differences between Crypto.com Coin and Neo?

Neo is another programmable blockchain that is focused on digital identity. Neo is more expensive than Crypto.com due to CRO having a limited supply of over 30 million CRO.

There is a larger circulating supply of Neo, and when viewing the most recent price performance of Crypto.com, Neo performed poorly in the past year.

In addition, Crypto.com Coin is more popular, and it also has a much higher market capitalization, placing it higher up on the alternative coin market.

 

  NEO Crypto.com Coin
Price change 20/21 +160% +930%
Market Cap $1.70 Billion+ $15.5 Billion+
Past Hacks None None
Popularity Medium Very High
Altcoin Rank #69 #15

 

What are the differences between Crypto.com Coin and NFTs?

Nonfungible tokens (NFTs) are digital assets that each have a unique value, with no two NFTs holding the same characteristics or value as another. Crypto.com Coin, on the other hand, is fungible, which means that one CRO has the same value and characteristics as another CRO.

 

What are the differences between Crypto.com Coin and Solana?

Solana is a prominent crypto project that is well-known for its extremely high transaction throughput of 50,000 TPS. In addition, Solana is currently more valuable than Crypto.com Coin, and it is ranked much higher on the alternative coin list.

 

  Solana Crypto.com Coin
Price change 20/21 +9,300% +930%
Market Cap $54 Billion+ $15.5 Billion+
Past Hacks None None
Popularity Very High Very High
Altcoin Rank #5 #15

 

What are the differences between Crypto.com Coin and Cardano?

Cardano is another popular programmable blockchain that competes with the likes of Solana, Neo, and Ethereum. Cardano has a higher circulating supply and market capitalization than Crypto.com Coin, in addition to SOL being much higher on the alternative coin list.

Cardano features higher trading volumes because of its various use cases, and it features overall better price performance over different timeframes.

 

  Cardano Crypto.com Coin
Price change 20/21 +2,100% +930%
Market Cap $42 Billion+ $15.5 Billion+
Past Hacks None None
Popularity Very High Very High
Altcoin Rank #7 #15

 

What is a Crypto Ticker?

When an instrument, share, or cryptocurrency token is traded on an exchange, swap service, or other DeFi solution, the ticker symbol is the brief combination of letters used to identify the asset or token. BTC and ETH are the ticker symbols for Bitcoin and Ethereum, respectively.

 

What is Staking?

Many cryptocurrencies use staking to authenticate transactions and reward holders for their holdings. It includes using crypto assets to maintain a blockchain platform and confirm transactions.

It is available with cryptos that employ the proof-of-stake mechanism. This is a much more energy-efficient proof-of-work model.

Staking may be a terrific method to earn passive income with your crypto, particularly since certain cryptocurrencies pay higher interest rates than others.

Staking is the process involved with adding new transactions to blocks on the blockchain of cryptocurrencies that use a Proof of Stake consensus.

First, members commit their currencies to the blockchain. The protocol selects validators from among those participants. Users will be selected as a validator based on their staking commitment.

New coins are produced and given as staking incentives to the validator of each new block. While pay-outs are the same currency that is being staked, some blockchains reward with a separate native coin.

To stake crypto, users need a coin that utilizes the proof-of-stake concept. Some proof of stake cryptos could have a minimum staking amount while others allow for any given staking amount, paying out rewards proportional to the staked amounts and the locked period.

Users keep their coins when they stake them. They are just prohibited from actively using the locked coins. This effectively puts the tokens to work on behalf of the user, and they may be unstacked later if desired.

Some cryptocurrencies require users to stake coins for a minimum period before they can unstake them.