Crypto.com Coin (CRO) pros and cons
A look at the pros and cons of the Crypto.com Coin (CRO).
While most pros and cons lists you’ll find online focus on the Crypto.com centralised exchange, we wanted to focus on the CRO cryptocurrency itself.
This section of our Crypto.com Coin (CRO) guide will consider the benefits and drawbacks of using CRO within the exchange and on the Cronos blockchain.
So before you make a final decision on whether to buy Crypto.com Coin (CRO) to possibly get involved in some of the DeFi dApps on Cronos, let’s get into a look at some of the pros and cons.
Crypto.com Coin (CRO) pros
A look at the pros of Crypto.com Coin.
Staking bonuses from the Crypto.com exchange:
What’s the point of being a CEX branded coin if you don’t get any benefits?One major pro of hodling CRO is that Crypto.com account holders with significant holdings will receive discounts on their trading fees.
As well as discounts on fees, CRO hodlers will also receive other extras such as priority customer service and the ability to trade OTC.
Ultimately, the more Crypto.com coin (CRO) you're able to stake, the more benefits you'll get from the exchange.
Access a higher-tier crypto Visa card:
This is another staking related pro for CRO hodlers.By staking CRO, clients of the Crypto.com exchange are able to access higher card tiers on their branded Visa card.
Higher card tiers have better benefits and features such as lower fees and the prospect of rewards.
Once again, the benefits all come from the connection with the exchange for staked CRO.
Crypto.com (CRO) cons
A look at the cons of Crypto.com Coin.
Staking bonuses work both ways:
On the other hand requiring a huge buy in of the exchange’s native coin can also leave a somewhat sour taste in the mouth of clients.Isn’t the exchange meant to be doing you a service regardless of how rich you are?
We definitely see this as being an issue in an industry where fairness and corporate gouging from centralised exchanges, isn’t exactly looked upon favourably.
Cronos’ CRO fees are relatively expensive:
The minimum gwei on Cronos is usually 5000.When you compare this to its main rival in the Binance Smart Chain, even at the current price of both, this is extremely expensive.
Then what happens if the price of CRO catches up to the price of BNB?
Sure it’s cheaper than Ethereum itself, but this is likely going to put a huge ceiling on the CRO price.
Do the CRO pros outweigh the cons?
Did you notice that none of the pros actually talk about CRO or the Cronos blockchain doing anything groundbreaking?
All of its benefits stem directly from the centralised Crypto.com exchange’s brand name and current industry standing.
CRO just doesn’t do anything new and exciting, or solve problems that other coins don’t already do better.
As a reward token for a centralised exchange, we question why it even needs to be a cryptocurrency and not just points in a database?
Then as a utility token for yet another EVM blockchain, what does it actually offer?
Not to mention the fact that CRO is actually looking like facing the same scaling issues that plague ETH and that will end up facing BNB as the BSC network continues to expand.
But in the modern crypto landscape, does efficiency and use-case really matter?
Dogecoin and Shiba Inu are both top 20 cryptocurrencies after all...
You definitely shouldn’t underestimate the Crypto.com brand name and the immense money behind the company thanks to the success of their centralised exchange business.
Just like we see with Binance and BSC, Crypto.com is going to pump a ton of time and money into Cronos.
As a result, the pros may not outweigh the cons, but there’s no doubting that CRO still has a ton of room to grow.
Best of probabilities to you.
Direct from the desk of Dane Williams.
Why not leave a comment on the Crypto.com Coin (CRO) pros and cons. All comments that add something to the discussion will be upvoted.
This Crypto.com Coin (CRO) blog is exclusive to leofinance.io.
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This was a timely post as I was literally working some funds toward CRO buys. I will say I am less excited about it now that I know it has high gas fees and similar network issues.
Hmmmm....I'm gonna think I this one a minute as I could always add to existing holdings instead of adding another.
I recently grabbed some LUNA as my newest exposure. I'm still actually digging into what LUNA is all about.
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Hey, they're still cheaper than Ethereum!
But looking forward, I don't see the Cronos network being able to even scale any better than BSC.
Which is obviously a huge red flag.
This is the way :)
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Fees are not an issue on Crypto.org Chain, the one that is part of Cosmos ecosystem. But they are high on Cronos, I pulled out of that chain for the time being.
One of the things that is stopping me from going in is how centralized exchanges can get targeted quite easily. The other day Coinbase decided to deny US citizen staking options (Defi-like) due to regulations.
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I do agree with many of your conclusions. I'm not sure if they'll pull off these moves trying to copy Binance. But on the fees stuff, they do have Crypto.org chain linked to Cosmos ecosystem, and there fees are very low (and then zero once CRO is moved to Osmosis).
@forexbrokr, have you already used the Cronos blockchain for transactions with its native token CRO?
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That's true that the coin itself could definitely be better, high fees are a pain in the ass for everybody.
The Referral system is really rewarding but only once the referrer stacks $350 of CRO. And not everybody will do that. I just joined the app and I don't know how much time it will take me to reach that goal if I do it someday. And only at that moment you can unlock the second card with 2% cashback and more unlocked features.
It's definitely not a place to start to earn crypto, you need to already have something on it. !PIZZA
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PIZZA Holders sent $PIZZA tips in this post's comments:
@ykretz.leo(4/7) tipped @forexbrokr (x1)
Please vote for pizza.witness!
Cro token is currently selling now. I just discovered about the coin on ftx crypto currency exchange. I believe,I will trade the coin to monitor the coin
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You are spot on
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Thanks for an informative post @forexbrokr! I've already decided to stick with BSC, at least for now and your post only further enforced my decision. As a newbie I'm enjoying 0.1% cash back on all my purchases and the more I use my Binance Visa Card the more cash back I will receive, up to 8%!!! That's a juicy bonus which I haven't seen offered by other exchanges! I'm going to tag my friend @awah here, as I believe he maybe interested in your post! Thanks again for the info, Lee :)
!ALIVE
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@forexbrokr! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @griega. (9/10)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
Hey, thanks for tagging me my friend. Informative post.
Still think you should try cyprto.com some time since you like to use the Visa card.
!wine
Congratulations, @awah You Successfully Shared 0.300 WINEX With @griega.
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You're very welcome! I thought you'd like it! ;)
We'll see, right now I have enough with the Visa from my bank and the Visa from Binance! :)
!ALIVE
@awah! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @griega. (1/10)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
I love crypto.com and I have used it several time but I still prefer binance
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I have made good use of crypto.com. I managed to accumulate some CRO early before the price ballooned. I now have a good tier on the Visa card that pays really well. Particularly since I travel a lot of work and push my expenses via my Visa card and accumulate more CRO.
The exchange isn't as good as Binance but I see their volumes have been steadily increasing and they keep adding features. The CRO chain also has a lot more on it now as crypto.com do like to innovate. So let's see where it goes.
For now, the big pro for me is the Visa card but overall I do prefer Binance as a platform.
Value is really in the debit cards. Highest tier card gets you 8% cashback. That's insane. You get 2% cashback with $400 worth CRO staked. Most people get the 3% cashback card. So that's really where the value is. Rest is just expanding the ecosystem.
!PIZZA
PS: There's Supercharger and Syndicate which have some cool ways to earn more crypto/buy at discounted prices.
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