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CRO is a native currency for Crypto.com designed to offer users faster, cheaper transactions. Read on to discover how CRO is unique and how it gained triple-digit percentages in 2023.
How to Buy CRO
- Create a Coinbase account - We recommend using Coinbase as it offers $5 in free Bitcoin when you sign-up.
- Add a payment method - Add your payment method and fund your account.
- Research the coin - Search for the coin by name or ticker symbol - CRO.
- Decide the amount of coins - Now it is time to decide how many coins you want to buy of Crypto Coin.
- Purchase coins of CRO - Buy the amount of coins you want with at the current price on Coinbase.
Why we like Coinbase:
Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency like Bitcoin, Ethereum, and more.
Account minimum: $0
Fees: 1.49% per trade
Promotion: Get $5 in Bitcoin after your 1st trade
The Crypto.com coin is currently over 40% below its all-time high of $0.97. So, it could be an excellent time to begin dollar-cost averaging into a position if your goal is to hold this coin long-term.
I'll teach you the fundamentals of CRO so you can make a better-informed decision.
- You might be wondering—does CRO have an actual use case in the blockchain world?
- Does a reputable team back it?
- What is its security like?
I'll give you the answers to all these questions and more. So, settle down with your favorite coffee, and let's begin.
What is Crypto.com Coin (CRO)?
CRO is the native currency for Crypto.com, a cryptocurrency exchange growing in popularity. You can use CRO to buy, sell, and lend crypto on Crypto.com, along with several other benefits.
Who Are the Founders of Crypto.com Coin?
Crypto.com got its start in 2016 by co-founders Kris Marszalek and Gary Or. They developed this crypto exchange and the native CRO coin because they wanted to give everyone in the world the opportunity to control their money and data.
Their efforts are paying off. As of now, they have over 10 million users spanning 90 countries. Furthermore, in November 2021, Crypto.com announced that it would be launching a $100 million advertising campaign.
Kris Marszalek has an impressive history in business, helping a design studio and manufacturing business grow from $0 to $81 million in revenue in just three years.
He's also co-founded the companies YIYI Hong Kong Limited and BEECRAZY. Marszalek's partner Gary Or compliments him, given his website and application development background.
Currently, Or is the founder of startup Particle B that's built, in part, on the Crypto.com blockchain.
How Many Crypto.com Coin (CRO) Coins Are in Circulation?
There is currently a circulation supply of 25.26 billion CRO with a maximum circulation supply of 30.26 billion. CRO doesn't undergo a traditional mining process like Bitcoin, which requires mining to create new coins on the blockchain.
Instead, CRO operates on a proof of stake (PoS) system, which lets you validate block transactions. So, the more CRO coins you hold and stake, the greater the amount of staking awards you'll receive (paid in CRO).
Staking CRO is an excellent option for investors looking to hold their CRO long-term. That way, you can earn more CRO without paying for any extra equipment or electricity costs like you would have to with the proof of work (PoW) mining approach.
How is Crypto.com Network Secured?
Council nodes and community nodes are the cornerstones of what helps keep the Crypto.com network secured. The job of council nodes (which you may also hear people calling validator nodes) is to help determine network consensus and how stakers govern Crypto.com.
In layman's terms, that means council nodes support items like:
- Verifying network transactions
- Settling, sending, and receiving transactions
- Reading network data
In contrast, anyone in the Crypto.com community can use community nodes. These nodes help individuals self-settle their personal transactions, read data, and verify transaction types.
Strong security is at the forefront of Crypto.com's mission. They're compliant with a series of security and privacy frameworks, including but not limited to:
- ISO/IEC 27701:2019
- CCSS Level 3
- Tier 4 independent assessment
To help keep its network secure, Crypto.com uses a threat modeling technique. Essentially, this means they have a system to predict and identify possible threats.
Spoofing, tampering, denial of service, and elevation of privilege are among the many avenues Crypto.com uses to mimic how a potential hacker could access CRO coins.
What Makes Crypto.com Coin Unique?
The Crypto.com coin is unique because its goal is to help merchants and crypto users make fast, secure, and low-cost transactions amongst each other.
Immediate payment confirmations for large sums of money isn't something that most traditional banks offer. However, Crypto.com's goal is to process transactions in less than one second.
On top of that, it promises to execute a mind-boggling 50,000 transactions per second. Although there are many cryptocurrency exchanges that users can choose from, Crypto.com is set on making itself stand out from the crowd.
They do this by offering systematic integration with the non-fiat-based cryptocurrencies they support. Doing so will help in the following ways:
- Eliminate transaction fees for merchants
- Easier payment systems to set up
- Ability for crypto projects to have support away from their native blockchain
Crypto.com is also working on strengthening its MCO Visa card. With trusted execution environments security, no annual fees, and low international purchases fees, CRO's Visa card is a strong contender in the credit card space.
From an investment standpoint, the CRO coin is unique because it's still among the most affordable native tokens for a cryptocurrency exchange.
And that's good news, considering that exchange coins tend to have a strong record for increased growth over time. For example, if you invested $1,000 in Binance's BNB coin in 2017, your investment as of July 2021 would have been worth nearly $3 million.
Needless to say, Crypto.com coin has many benefits that it offers to the blockchain in terms of speed and security and to its users who stake their CRO coins.
Crypto.com Coin Alternatives
Should I Invest in Crypto.com Coin?
The CRO coin saw a more than 800% increase in value from January 1, 2021, to its highest value this year, so it's proven its potential as a valuable investment.
With its focus on fast, cheap payments, strong security, and a Visa card, CRO has the potential to continue growing. Given the volatile nature of crypto, dollar cost averaging is an excellent approach for a long-term CRO investment.
Furthermore, the crypto market is in a correction as of December 2021. So, if you're inspired to start investing in CRO after reading this, why not begin now?
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