CRONOS (CRO)
A payment, trading, and financial services startup created a decentralised, open-source blockchain.
The Crypto.com Coin has been attracting attention since it renamed as Cronos (CRO) on February 23 2022. After a series of marketing initiatives during Superbowl and NBA events, Crypto.com has been aggressive in the bitcoin industry. It received a boost when American actor Matt Damon agreed to be its face for bitcoin promotion.
The bitcoin market has been particularly turbulent since Russia invaded Ukraine. In fact, the crisis in Russia and Ukraine has caused global markets to fall. However, the CRO cryptocurrency is still performing well in the market. It increased by more than 10% , with a volume increase of more than 2%.
Introduction
CRO is the native cryptocurrency token of Cronos Chain, a decentralised, open-source blockchain created by Crypto.com, a payment, trading, and financial services firm.
Cronos Chain is one of Crypto.com’s solutions aimed at accelerating the global use of cryptocurrencies as a way to increase personal control over money, secure user data, and protect users’ identities. The CRO blockchain is primarily used to support the Crypto.com Pay mobile payment app.
Crypto.com intends to expand the CRO platform’s reach in the future to power its other offerings as well.
In November and December of 2018, CRO went live.
Cronos Chain
Cronos is the first Ethereum-compatible blockchain network, based on the Cosmos SDK.Cronos is an open-source, permission-less Layer 1 chain that seeks to rapidly extend the DeFi, GameFi, and overall Web3 user communities by allowing developers to quickly move apps and crypto assets from other chains while enjoying low transaction costs, high throughput, and quick finality.
Despite the recent debut, total value locked (TVL) growth has exploded, reaching a peak of more than US$2 billion in less than three months. This may be due in part to Particle B’s $100 million CRO EVM fund, which encourages developers to build on Cronos. Since the debut, $CRO token values have increased by almost 350 percent, reaching a high of $0.96. In the near future, a bridge between Ethereum and Cosmos is expected.
What distinguishes CRONOS?
The CRO blockchain is primarily intended to benefit users of Crypto.com’s payment, trading, and financial services offerings.
CRO holders can stake their coins on the Cronos Chain to serve as a validator and receive fees for processing network transactions. CRO coins can also be used to settle processing fees on the Cronos Chain.
Users of the Crypto.com Pay payments app can earn up to 20% cashback when paying merchants in CRO and up to 10% cashback when buying gift cards and making peer-to-peer transfers to other users. In terms of trading, the Crypto.com App allows users to receive token incentives for certain listings by staking CRO.
Additionally, customers can earn up to 10–12 percent yearly interest on their Crypto.com Coins by staking them on the Crypto.com Exchange app or Crypto.com’s metal Visa Card.
Overall, CRO serves as a driving force behind Crypto.com’s global push to expand cryptocurrency adoption. As a result, the firm is constantly looking for and developing new use cases that will allow consumers to harness cryptocurrencies to gain more control over their money, data, and identities.
Crypto.com Visa Debit Card’s
Crypto.com offers a pre-paid Visa Debit card
There is no need to load and spend fiat (e.g., AUS, CAD, EUR, GBP, SGD, USD), and there is no need to acquire and store any cryptocurrencies.There are no yearly fees.Cashback ranges from 0.5 percent to 5%, depending on the card used.Free airport lounge access, Amazon Prime, Netflix, and Spotify are among the incentives available.Because it is not tied to a bank account, it is referred to as prepaid. It also implies that it will not appear on a credit record.
The card (and prizes) you receive are determined on the amount of CRO you wager. Crypto.com established the cryptocurrency CRO.Staking involves giving money to Crypto.com and then forgetting about it; you won’t be able to recover it back until the staking time expires. The stake’s value might rise or fall.
They provide a free entrance level.
For the other stages, you must stake a certain amount of CRO for at least 6 months. After 6 months, you can either keep your money staked and maintain all of the advantages, or you can withdraw your money and the rewards you receive will be decreased.
Types of debit cards:
Obsidian, Frosted Rose Gold & Icy White, Royal Indigo & Jade Green, Ruby Steel, Midnight Blue
Crypto.Com Nft Marketplace
The Crypto.com NFT marketplace is part of Crypto.com, which is one of the greatest cryptocurrency exchanges on the market. Most traders have heard of Crypto.com, which has a sterling reputation for fees and user-friendliness. Given the enormous popularity of NFTs, Crypto.com has chosen to create its own marketplace on the Cronos chain in March 2021.
To utilise the Crypto.com NFT Marketplace, Crypto.com users must first register an extra account, which simply takes a few minutes. Users may automatically validate their NFT account after creating it by linking it to their Crypto.com trading account via the app. Overall, this process is quick and allows customers to take use of the capabilities available in Crypto.com’s ecosystem.
The marketplace itself has a variety of the top NFTs to buy, including art, gaming, sports, music, and more. Each NFT will be advertised for a fixed price or through a regular auction, providing buyers and sellers with options. Interestingly, NFTs from Crypto.com may be acquired quickly with a credit or debit card. In contrast, several other NFT markets demand cryptocurrency to allow payments.
Finally, the Crypto.com NFT Marketplace’s simplified approach to NFT trading has made it extremely popular. Users may invest using either the browser-based platform or the Crypto.com NFT app, so there is something for everyone. Finally, Crypto.com just stated that the site would now enable Ethereum-based NFTs, significantly increasing the possible universe.
CRO Token And It’s Tokenomics
CRO has recently established itself as a strong token. It has been on an upward trend and has recently posted remarkable increases. The token is currently ranked 18th in terms of market capitalization. At the time of writing, the CRO token was trading at $0.19 (15.5 INR), With a market cap of $ 5 Billion and 25 Billion CRO coins in circulation.
With the crypto markets steadily recovering, the CRO coin’s performance in the midst of the crisis is encouraging.
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