How and Where to Buy Cronos (CRO)
In June 2016, Kris Marszalek, Gary Or, Rafael Melo, and Bobby Bao founded Crypto.com as Monaco Technologies GmbH. The team’s vision is to put “cryptocurrency in every wallet“™, and the mission is to “Accelerate the world’s transition to cryptocurrency.” – Crypto.com website.
In addition, the company believes everyone has the right to control their money, data, and protect their identity, citing Web3 as the future of the internet, where everyone has equitable rights and ownership. Crypto.com is a payment, trading, and financial services company with over 4,000 employees and more than 10 million users.
What Is Cronos (CRO)?
Crypto.com has several cryptocurrency solutions designed to speed up cryptocurrency adoption to give people security, privacy, and control over their personal finances. Though we cannot verify the quality of the Crypto.com platform at this time, we will provide details so that you can decide for yourself.
Crypto.com developed Cronos Chain, a decentralized, open-source, Ethereum EVM (Ethereum Virtual Machine) compatible blockchain.
Cronos (CRO) is the native token of Cronos Chain, which went live at the end of 2018. The primary purpose of the CRO blockchain is to power the Crypto.com payments mobile app.
In February 2021, Crypto.org announced that the Crypto.org coin (CRO) was rebranded to Cronos (CRO). The reasoning was that the new brand more ideally reflected the decentralized nature of $CRO.
$CRO acts as a payment token similar to Ethereum (ETH) coins. You can exchange $CRO for other tokens or currencies or use them for purchasing.
What Makes Cronos (CRO) Unique?
The Crypto.com company states it is the next-generation public blockchain. It’s open-source, a fully decentralized, permissionless blockchain promoting low fees and high transaction speeds.
Cronos Chain runs parallel to the Crypto.org blockchain, similar to BSC (Binance Smart Chain) and Binance Chain. EVM compatibility means that Dapps built on Ethereum can be moved onto the Cronos Chain. Additionally, Cronos Chain supports the IBC (Inter Blockchain Communications) protocol, which means it can bridge to the Cosmos ecosystem of Dapps.
The Crypto.org Chain vows to be carbon negative by 2023.
Other Products from the Crypto.com platform
- Mobile App – the app supports over 250 cryptocurrencies, including Bitcoin and 20+ fiat currencies
- Metal Visa card – earn up to 8% $CRO rewards on spending and top up the card with fiat currencies or cryptocurrency. There are 5 tiers of cards: Obsidian, Frosted Rose Gold & Icy White, Royal Indigo & Jade Green, Ruby Steel, and Midnight Blue
- Crypto Earn – earn up to 14.5% on your cryptocurrencies and up to 14% on stablecoins. For instance, Bitcoin (BTC) and Ethereum (ETH) earn 8.5%, and USD Coin (USDC) earns 12%. Over 40 cryptocurrencies and stablecoins are supported
- Crypto Credit – borrow up to 50% of your cryptocurrency collateral for an instant loan. There are no credit checks, late fees, or statement deadlines, and you can pay according to your requirements
- Advanced Trading – Crypto.com offers 10 x leverage on margin trading with deep liquidity and low fees
- DeFi Non-custodial wallet – available on iOS and Android devices. The wallet supports over 100 coins
- DeFi Earn – generate interest on over 35 tokens via Aave, Yearn Earn V2, Cosmos staking, and Crypto.org Chain staking. There is no lock-up term
- DeFi Swap – you can farm popular tokens
- NFT Marketplace – buy, sell and show off your NFTs
How do I Buy Cronos (CRO)?
You can purchase $CRO tokens from Coinbase.com, an established, reputable cryptocurrency exchange, and buying $CRO is an effortless process.
Follow the guidelines below: –
- Create an account on Coinbase.com – Coinbase is one of the most straightforward and trustworthy cryptocurrency exchanges for opening a new account. It has a user-friendly interface
- Fund your account – You can deposit with fiat currencies with a debit or credit card,
- Buy $CRO – You can buy $CRO directly with a debit or credit card. If you already have funds in your Coinbase account, buying $CRO is as simple as finding CRO/USDT, CRO/USD, or CRO/EUR on the Coinbase platform and executing a trade
- Store your $CRO tokens securely – The Coinbase mobile wallet is a self-custody wallet available for iOS and Android enabling you to access your Coinbase account to send, receive, buy, and sell your $CRO tokens. Instead of the centralized exchange, your private keys are stored directly on your mobile device
How do I Sell Cronos (CRO)?
If you wish to sell your $CRO tokens, Coinbase.com makes it super easy to do so: –
- Log in to your Coinbase.com account or onto the Coinbase mobile wallet
- You can exchange your $CRO tokens for a mainstream stablecoin like $USDT
- If you want to withdraw as fiat currency, take the following steps
- Log in to Coinbase Pro – it is the exact login details as your Coinbase.com account
- Deposit the $USDT to Coinbase Pro (it automatically links to your $USDT balance, and there are no transaction fees)
- Go to “trade” and find the trading pair with your fiat currency, i.e. USD/USDT and click on SELL
- The $USD now shows as your balance in Coinbase Pro
- Add your bank details
- To verify your bank, send a small transaction to your bank, such as $2
- When the $2 is in your bank account, copy the code and log in to Coinbase Pro to verify your bank. You’ll only need to do this once
- You can now withdraw your funds in your chosen fiat currency to your bank account, enabling you to enjoy the profits you’ve (hopefully) made on your Cronos $CRO investment
Should I Buy Cronos (CRO)?
Although we cannot provide investment advice, if you wish to invest in Cronos (CRO), Coinbase is a popular exchange suitable for beginners, advanced traders, or investors. It has a self-custody wallet.
KuCoin and Gate.io also list $CRO tokens and are both established and trustworthy cryptocurrency exchanges with a good range of services. KuCoin provides custodial and non-custodial services, and Gate.io has an exchange wallet and a cold storage wallet, the “S1”.
How do I invest in Cronos (CRO)? Safely?
If you wish to invest in $CRO tokens, purchase from a reputable cryptocurrency exchange such as Coinbase, KuCoin, or Gate.io. After purchase, we advise storing your $CRO tokens securely in a cryptocurrency wallet.