Crypto.com Coin (CRO)
Crypto.com Coin statistic
What Is CRO Crypto?
Crypto.com is the blockchain company offering a mobile wallet app and prepaid MCO Visa cards that enable users to deploy well-known cryptocurrencies such as Bitcoin and Ethereum in everyday purchases, similar to classic fiat currencies.
Crypto.com History Brief
The Crypto.com project has been around since 2016, when the company was operating under the name Monaco Technologies. The project ran a successful ICO from May 18 to June 18, 2017, when it launched its now discontinued MCO token. At that time, 9,476,400 MCOs were issued with a value of $26,700,000. At the beginning, the project captured negative headlines because a Visa partnership was falsely advertised as a part of the ICO 2017.
The Crypto.com domain, registered in 1993, was owned by a cryptographer Matt Blaze. In 2018 Monaco Coin bought this domain and via a smart marketing campaign branded Crypto.com. Initially, the Crypto.com platform used two tokens, Crypto.com Coin (CRO) and MCO (MCO). In June 2018, however, the company decided to rebrand and spent almost $10 million to change its name to Crypto.com. CRO airdrop started in December of 2018 through the mobile application and lasted for six months.
By the end of 2019 the Crypto.com ecosystem's functionality was massively simplified and the company launched its own exchange and made CRO more open to the public.
In August of 2020 Crypto.com phased out the MCO token completely and swapped it to CRO at a rate of 1:33.
What Problems Does Crypto.com Solve?
At the first glance, Crypto.com looks like a mixture of different services without actually setting a focus, but is a false impression. Although cryptocurrencies have existed for almost a decade with the start of Bitcoin and have enjoyed particularly great popularity in the last years, they still predominantly serve as an object of speculation and hardly deserve to be called "currencies". To date, even Bitcoin and Ethereum can be used to buy products and services in a very few cases only. This is exactly what Crypto.com wants to change. The aim of Crypto.com is to finally create a cryptocurrency that befits its name and can really be used as a means of payment in everyday life.
The Key Features Of Crypto.com
There are currently five core products within the Crypto.com chain:
- A credit card – Crypto.com VISA.
- A wallet – the Crypto.com Mobile Wallet.
- An Algorithmic Trading Service – Crypto.com Invest.
- A crypto lending service – Crypto.com Credit.
- A crypto “deposit passbook” – Crypto.com Earn.
MCO Visa Card And Crypto.com Mobile Wallet
The best-known product is the Crypto.com credit card or MCO Visa card. A total of five different types of this credit card are available – from the free blue and plastic Midnight Blue to the extravagant black Obsidian Black credit card. The card is registered or ordered via the Crypto.com Wallet & Card app. The Crypto.com Wallet & Card is available for Android and iOS and enables users to easily exchange their CRO tokens for leading cryptocurrencies or to send and receive them. A total of 7 leading fiat and 41 cryptocurrencies can be bought, sold or traded. In addition, the market prices of more than 200 of the leading cryptocurrencies can be tracked and monitored in real time and displayed in different charts.
The app can simply be downloaded and used after registering with your email address, telephone number and ID card.
Another key product is Crypto.com Invest. It is a crypto investment app with which even inexperienced users can benefit from trading. All you have to do is deposit Bitcoin from your Crypto.com account, and then the money is automatically invested by the smart algorithms of Crypto.com according to the risk preferences entered. You can start from as little as $20 and also withdraw the portfolio at any time.
Crypto.com Credit And Crypto.com Earn
The two newest products are Crypto.com Credit and Crypto.com Earn is meant to replace the traditional bank account. With Crypto.com Credit you can deposit your CRO tokens as securities and get a fiat credit. With Crypto.com Earn you can collect a high 1%-2% percentage of interest against depositing your crypto credit.
What Can CRO Token Be Used For?
CRO (its total supply is 100,000,000,000 CRO) are the ERC-20 compatible utility tokens used to pay fees, institute trades, access services and receive bonuses. The Crypto.com Chain is the centralized blockchain where the mining process is controlled exclusively by the Hong Kong-based company. As a simple user, you cannot participate in CRO cryptocurrency mining and therefore cannot earn CRO tokens through mining.
Pros And Cons
CRO Coin Advantages
- Efficient and extensive apps.
- A debit card with high cashback (between 1% – 5%).
- Crypto Earn and Crypto Credit features which are particularly interesting for investors.
- Visa as a payment service provider.
- SEPA transactions and credit card deposits.
- KYC process for new customers.
- An opportunity to easily buy and sell cryptos.
- At present time, the Crypto.com company, with its account and debit Visa cards, is one of the major providers on the market. In Europe alone, the company has offices in Bulgaria, Malta and Zug; there are several branches in China, Hong Kong, Singapore and the United States.
CRO Coin Features
- Lack of transparency, as far as the source of funding is concerned.
- CRO Coin has a few usage scenarios outside of the Crypto.com ecosystem.
Crypto.com’s roadmap was published in November 2019. The project continues to complete its ecosystem, covering finance (interest and lending accounts), trading (wallet app, exchange) and payments (Crypto.com Pay, Visa cards). The team behind CRO regularly launches new projects and initiatives.
Where To Buy Cro Coin?
Today CRO price is 0.1615 USD. The best way to exchange your coins to CRO crypto is StealthEX. It’s a super-friendly, non-custodial and limitless cryptocurrency exchange platform. So if you already have savings in crypto and wish to invest in CRO, just go to StealthEX and follow these easy steps:
- Choose the pair and the amount for your exchange. For example ETH to CRO.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your CRO coins.