Introduction to Crypto.com Coin (CRO)
We introduce Crypto.com Coin (CRO), outlining where it fits into the various blockchains within its ecosystem.
When it comes to the jargon around Crypto.com Coin, there are a few terms and concepts that we need to introduce.
Our Crypto.com Coin Guide starts off by outlining the differences between Crypto.com Coin, the Crypto.com chain and the brand new, EVM compatible Cronos chain.
Once you understand these differences and how each fits into the overall Crypto.com ecosystem, then you can confidently move forward into the meat of this guide..
CRO coin
The CRO coin is the native cryptocurrency of the Crypto.com centralised exchange (CEX).
Holders of CRO tokens are eligible for perks such as discounted trading fees on the CEX and the ability to earn more when lending on the CEX.
But most importantly (at least initially), is that CRO holders have the ability to earn cashback on purchases made with the Crypto.com card, the premier crypto card available.
Crypto.com Chain
While CRO was initially launched as an ERC20 token on Ethereum, it now runs as the settlement asset on its own Crypto.com chain.
You can think of the Crypto.com Chain in the same way you would think of the Binance Chain, the company’s original public blockchain protocol designed with a focus on enabling transactions between customers and merchants.
The chain is designed specifically for the use of mobile payments, with dApps focused on supporting a use case for the CRO token in this manner.
Cronos Chain
If the Crypto.com Chain can be compared to the Binance Chain, then the Cronos Chain can be compared to the Binance Smart Chain.
Cronos is an EVM compatible sidechain that runs parallel to the Crypto.com Chain.
It runs on a Proof of Authority (PoA) consensus algorithm and is powered by the PoS chain interoperable with Ethereum, called Ethermint.
Just like BSC, Cronos’ stated goal is to scale its DeFi ecosystem and remain interoperatble with Ethereum and other EVM-compatible blockchains in the ecosystem.
With an end goal of being able to offer a truly decentralised blockchain, entirely facilitated by the CRO coin, Cronos’ differentiation from the Crypto.com branding is in our opinion, quite smart.
Crypto.com Exchange
At the heart of everything is the Crypto.com CEX, owned by parent company Foris Technology and cofounded by Polish-born entrepreneur Kris Marszalek.
Ultimately Crypto.com allows clients to buy Bitcoin or altcoins with 20+ fiat currencies and then spend their funds using current payment networks thanks to the Crypto.com Visa Card.
The CEX allows clients to learn, spend, track and even borrow crypto at extremely competitive rates, directly from their platform.
Best of probabilities to you.
Direct from the desk of Dane Williams.
Why not leave a comment on what you think about Crypto.com Coin (CRO) and the various blockchains within its ecosystem. 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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I've absolutely fallen in love with this platform and token over the past few months...And of course, I was super late to the game because I knew about it for quite some time.
But I did get in early with CRO and bought a bunch at like 15 cents each. Happy with it so far, makes me look like a genius lol
Is it too late for us??
Haha, what a loaded question!
A common misconception when it comes to technical analysis is that people think it's about making price predictions.
Of course nobody knows where price is going to go with 100% certainty, so there really isn't a correct answer to your question.
But what technical analysis does, is look at the more likely moves and allows you to make risk management decisions that will make you money.
For example, take a look at the following CRO chart from TradingView:
If you just look at where price has gone since Jon's 15c entry, then maybe it does look like it's too late.
Buying at all time highs is always a bit of a punt.
But if you just add a single support/resistance zone in this zone where both sellers (the red) and buyers (the green) have each stepped in before, then you can assatain that they're likely to be all watching that zone again.
For me, this looks like a fair price that I'd rather be buying at than at the all time highs we see now.
CRO trade plan of attack:
If you watch price action if we pull back into that zone and see that buyers are obviously accumulating, then you can buy a bounce.
A stop loss placed below that zone for if you're wrong will allow you to manage your risk and get out if this analysis doesn't work out.
Probabilities and risk management around them is the key, not making the right predictions.
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So in other words, DYOR. Thanks I will check it out.
We've all seen what Binance Coin (BNB) has done and want to see if CRO can follow.
Further into our guide, we'll talk about the supply differences which might make a similar price unattainable.
But in terms of price multiples, there'll likely be more in this.
Mate, 15 is definitely a genius-level entry ;)
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Crypto.com recently has attracted many investors to its self, not just because of the rise in it's price but also due to the fact that it have enticing features.
What are some of your favourite features of the Crypto.com exchange?
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Staking
And why? What is the point of that? Why would I buy crypto to spend it with a Visa card? Why have another card? Why pay all the additional transaction fees and probably other things?
Why use the Crypto.com Visa card?
You would use a crypto card, such as the Crypto.com Visa card, because it makes spending crypto easier.
There are now a decent proportion of people in crypto who earn decent money from the game. Crypto wage earners if you will.
Having a Crypto.com Visa card cuts out the steps of withdrawing your crypto to fiat via an exchange, before spending it.
It allows you to just tap your card on the existing Visa network and all the back-end conversions from crypto to fiat are done for you.
Yes there are fees, but that's the price of convenience.
If you can work out how your particular government views crypto card transactions in terms of tax, then I think they're awesome.
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I didn't want to open so many exchange accounts but is this one a little more friendly towards US users compared to Binance? I might have to look into it.
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Honestly, I'm in Aus and not 100% sure on the regulations you have to work around in the US - Please dyor before going deeper.
But Crypto.com certainly does have a US license and a huge US customer base, so it might be worth looking into as a Binance alternative if that's what you're after.
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I have been seeing this ad on Twitter but kept on ignoring it since I already have an handful of exchanger. I will definitely have a rethink.
But I the card can’t be possible in my country due to the government greedy policy of no crypto transaction.
Yeah, the Nigerian government's stance does seem very short-sighted and uninformed.
Typical, inefficient government protecting their own vested interests instead of you know... actually helping their people.
What a concept that would be!
Even if you can't get the Crypto.com Visa card in your country, at least an investment in the Crypto.com Coin (CRO) might be worth a look?
See my comment reply to you above under Jon's :)
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Thanks for taking your time to reply. Really appreciate. I will definitely check it out now.
Crypto.com is doing well now and it is one of best exchange out there with promising coin
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What is it about the Crypto.com Coin (CRO) that you find the most promising?
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One those things is that it is user friendly and I like their farming also the apy is good
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They are also part of the Cosmos ecosystem and it's easy to move CRO in and out of Cosmos via IBC. There is a CRO:OSMO incentivized pool on Osmosis, which currently I like more than the defi options I know on Cronos so far (via CroDex).
I'm really looking forward to digging a little deeper into the CRO DeFi ecosystem as we get through some more content for this guide.
If you're already using some of the options available, I'd love for you to do a post for the guide?
Something around a subheading like 'Best CRO DeFi options'.
It would be a huge help to have someone like you with skin in the game talking about what's on offer.
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Others know more about this than I do. Regarding CRO defi I'm now all-in on CRO:OSMO. I bailed out of CRO:USDT on CroDex on Cronos because I didn't seem to make any return. I didn't make any at removing liquidity either, from fees. So, either I don't understand that platform (although it's pretty standard), or it doesn't work properly.
They are doing very well during the last months and this is reflected in the great price increase of the CRO cryptocurrency and they are also making alliances with very important sectors worldwide.
What are some of the alliances that you see as being important?
I'd love to add this as a section to the guide if you wanted to provide some content under this comment?
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They recently made one of the most important alliances in cryptocurrencies and that was acquiring the naming rights to the iconic stadium Staples Center, they also have agreements with UFC and a very interesting marketing work where world-class actors such as Matt Damon are featured.
Ooooooh... They are going full EVM compatibility... It took me a while to realize what changed with Cro but was too lazy to research it.
Feels like every centralized crypto company will have its own chain just like they have websites now.
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They want to be Binance so bad haha...
I wouldn't underestimate Cronos, I mean they certainly have money to throw at it just like Binance does with BSC.
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I am using it.
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Awesome mate.
What do you think about it?
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