Cryptocurrencies have been around us for a while now and over the past couple of years, the industry has been constantly booming and has managed to make a name for itself on a global level. Crypto as it is commonly referred to as is one such industry that has really outdone itself in attracting potential investors from all across the world along with several people with celebrity status like Elon Musk, the CEO of Tesla for instance.
Seeing the extraordinary growth and popularity of the industry in recent years, I sincerely believe that a majority of you are already aware of the industry and its working but, if for some reason you are still not familiar with the basic concept of virtual currencies, let’s talk about that first.
Crypto is nothing but a form of digital currency which can be used for a variety of purposes including the purchase and sale of goods and services as well as for trading of virtual currencies over crypto exchanges online. In other words, cryptocurrency is a blockchain-based platform that is decentralized to its very core.
For further clarification, the industry uses a commonly known blockchain technology for its operations, which also helps in recording and verifying all the transactions that take place over the network, thus completely eliminating the risk of counterfeiting as well as double-spending for that matter. Similarly, being decentralized, the industry is able to step outside the overall control and jurisdiction of central authorities and can work freely without any unnecessary government interference.
In addition to this, as mentioned, crypto has had a surge in its growth and popularity since it was first introduced, and that too at a rate that was never anticipated. Speaking of when the industry was made public, some of you who are following crypto from its initial phase might agree with me on the fact that, when it all started, there were not many currencies to choose from in the marketplace and there were not many investors lining up to be a part of it either.
But, on the contrary, looking around today, it almost feels unreal how the industry has managed to perform so well in the global marketplace, with newer currencies coming in every day and several new investors joining in with each passing hour. Seeing the massive audience that it caters to, it is probably worth noting that, some of the major contributing factors for this success include its portability, ease of use, the convenience it offers, high-profit margins as well as its volatile and uncertain nature of course.
Moving further, it is vital for you to know that, some of the most popular cryptocurrencies available today in the marketplace include Dogecoin, Bitcoin, Binance Coin, Cardano, Baby Doge as well as Ethereum to name a few popular ones of course.
Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, Crypto.com. To know more, I suggest you read further!
Everything to know about Crypto.com Coin (CRO)
To begin with, Crypto.com Coin or as commonly referred to as CRO is nothing but a native utility token for the Crypto.com Chain, which is an open-sourced, decentralized blockchain that has been created by the Crypto.com trading, payments, and financial services company. Not just that, Crypto.com Chain is one of the major products in the lineup of solutions that have been designed by Crypto.com in order to increase the overall adoption of virtual currencies as a means of safeguarding user data, protecting user’s identities as well as increasing personal control over money of course.
For some of you wondering what is Crypto.com exactly? Allow me a chance to explain. Crypto.com is a popular cryptocurrency exchange with support from a wide range of blockchain-based products along with crypto assets. With the help of the said platform, users are able to purchase, sell as well as trade a long list of currencies, while enjoying a relatively low trading fee.
Apart from that, the company is known to offer a decentralized exchange, virtual currency-based credit cards, a marketplace for non-fungible tokens (NFTs) as well as their very own crypto wallet. Also, it is probably worth mentioning that, the platform allows its users to stake their cryptocurrencies or as a matter of fact, hold it in a Crypto.com wallet for a specific period of time and earn about 14.5 percent interest on the same.
Before moving on further, let talk about the fact that, Crypto.com was founded about five years ago in June 2016 as “Monaco Technologies GmbH” by Gary Or, Kris Marszalek, Bobby Bao, along with Rafael Melo. On the other hand, Crypto.com Coin was introduced by the said company as a part of their vision which they claim to be “putting cryptocurrency in every wallet” and CRO officially went live in December 2018.
Having said that, Crypto.com Chain is just an Ethereum token that is said to power Crypto.com Pay, which is a service that focuses on allowing users to make payments for goods and services with the help of virtual currencies, while they receive cashback rewards on the same. As mentioned, Crpto.com Chain is nothing but a high-performing native blockchain solution, which helps in making the overall flow of transactions amongst merchants accepting virtual currencies and cryptocurrency users absolutely seamless, secure as and most importantly, cost-efficient.
With the help of this, businesses will be able to use Crypto.com Pay Checkout and invoice in order to enable customers to complete the payment and checkout for goods and services with the help of currencies using the Crypto.com Wallet App. Speaking of payments, it is vital for you to know that, businesses receive immediate payments in stable coins, fiat, or CRO. Also, CRO is now there on DeFi Swap and thus, users can now swap CRO, be CRO liquidity providers in order to earn fees and significantly increase their yield to nearly twenty times when staking CRO.
Furthermore, the CRO blockchain merely serves as a vehicle that is known to power the Crypto.com Pay mobile payments app, and as per reports, Crypto.com is planning on expanding the reach of the CRO platform, for it to power its other products as well in the near future.
What makes Crypto.com Coin special?
As mentioned previously, CRO blockchain primarily aims at providing utility to the users of Crypto.com’s financial, trading and payment services. Not just that, CRO owners are allowed to stake their coins on Crypto.com Chain and act as a validator along with being able to earn fees for processing transactions on the network itself.
Other than this, CRO coins can also be made use of in settling transaction fees on the Crypto.com Chain. Also, Crypto.com App allows its users on the platform to earn token rewards for select listings by simply staking CRO. Speaking of Crypto.com Pay payments application, the basic framework of the same allows users to also earn a cashback of up to twenty percent by paying merchants in CRO and up to nearly ten percent by buying gift cards and making peer-to-peer transfers to other users on the network.
However, it is worth noting that, users can even earn an annual interest of about ten-twelve percent on their Crypto.com Coins as mentioned previously, by simply staking them on either the Crypto.com’s metal visa card or Crypto.com Exchange app. Having said that, CRO acts as nothing but an instrument that is used to power Crypto.com’s goal to increase the overall adoption of digital currencies worldwide.
Anyways, the company is said to be constantly working on developing and finding new use cases that will prove to be a lot more helpful in allowing users to leverage their virtual currencies in order to enhance the control they have over their identities, data, and most importantly, their money.
Now that we have talked much about Crypto.com Coin, some of you must be wondering, whether or not it is a good idea to invest in the platform? If that’s the case, then let’s find out, shall we?
Investing in Crypto.com Coin (CRO)
As of today, the price of Crypto.com Coin is about 0.730364 US dollars with a twenty-four-hour trading volume of 1,274,882,129 dollars. Not just that, in just the past twenty-four hours, the value of the Crypto.com Coin has gone up by 32.62 percent, and with the current market cap of 18,451,183,439 US dollars, CRO is currently placed at 13th position as per the CoinMarketCap rankings.
Also, it is worth mentioning that, the current circulating supply of Crypto.com Coin is nearly 25,263,013,692 CRO coins with a maximum lifetime supply of the token being 30,263,013,692 CRO coins. In just the past week alone, the price of Crypto.com Coin has gone uphill by 77.35 percent.
Reading so far, you must have gotten a fair understanding of the platform and by now, you should be able to figure out on your own whether or not investing in Crypto.com Coin is the right thing for you to do. Seeing what it has to offer when combined with its performance in the recent past as well as its plans for the near future, I certainly believe that Crypto.com Coin can prove to be a profitable investment in the near future, which is likely to provide you with good returns and it is a possibility that your current investment may increase in value. But again, nothing can be said for sure!
As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain. Thus, It is very important for you to understand the fact that, just like any other currency in the crypto marketplace, Crypto.com Coin does have its own risks as well and you should invest only if you are willing to take those risks and bear any and all losses if at all necessary.
If you are wondering, where can you buy Crypto.com Coin? Let me help you with that. Currently, Crypto.com Coin is available on all major crypto exchanges but, some of the popular exchanges that have CRO listed on them include OKEx, Huobi Global, Upbit, CoinTiger as well as FTX to name a few.
In conclusion, what are your thoughts on Crypto.com Coin? Do let us know in the comments below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!