Decided CRO is a good investment? You can get CRO at Crypto.com today!
Crypto.com has been named one of the world’s fastest growing cryptocurrency marketplaces, in part due to a commercial initiative led by Matt Damon and due to its extensive rewards program.
The company has a tiered card system, starting with the free Midnight Blue card through to the Obsidian card, which requires a $400,000 stake in CRO for at least 180 days.
Cronos is a coin associated with Crypto.com, a centralized company; Therefore, CRO should be evaluated depending on the longevity of centralized exchanges and how Crypto.com stacks up against the competition.
This article examines the evidence supporting Crypto.com’s CRO.
Is Cronos (CRO) here to stay or just a fad?
CRO’s longevity depends almost entirely on Crypto.com’s success as an exchange.
Crypto.com card cashback incentives of 0%, 1%, 2%, 3% and 5% are granted to different tiers of debit cards depending on how much CRO token is staked. Failure to reset the initial CRO will significantly reduce cashback incentives.
The 5% cashback incentives offered to Obsidian creditors include paybacks on premium services from Spotify, Amazon Prime and Netflix, with the largest staking return on the Crypto.com exchange.
CoinMarketCap outlines five clear currency distributions for the network:
- 30% — secondary distribution and introductory incentives — will be released in batches daily for a period of five years beginning November 14, 2018
- 20% — capital reserve – frozen until 11/07/2022
- 20% – Network Long Term Incentives – frozen until November 7, 2022
- 20% – ecosystem grants – frozen until Crypto.com chain mainnet launch
- 10% — community development
History of Cronos (CRO).
Founded in 2016, Crypto.com conducted an Initial Coin Offering (ICO) in 2017 to showcase its now-defunct MCO cryptocurrency. Crypto.com now appears to have a greater purpose of increasing Bitcoin adoption. The company focuses on enabling bitcoin payments around the world.
CRO was officially launched in December 2018 with an airdrop via the smartphone app. The airdrop ran for six months before being frozen for another year. With the advent of the crypto.com exchange, CRO became more accessible to the general population. CRO holders were immediately eligible to stake their coins on the platform with a 20% annual percentage return.
Crypto.com has added various rewards for buying, staking, and using CRO since the exchange went live in 2020. Benefits range from attending their events to transaction savings.
Crypto.org decided to rebrand the Cronos coin in 2022 via its tentative name “Crypto.com Coin”.
Pros and cons of Cronos (CRO)
- Active network with decentralized applications (DApps)
- High-yield liquidity pools
- Excellent accompanying maps
- Access to high, risk-free staking rates on stablecoins
- High initial staking requirements
- Questionable sustainability
Pros and cons of Crypto.com
- Visa card with the best rewards
- Wide range of low rate cryptos
- In-app features for earning interest and bartering
- Bad customer service and user interface
- Reward tiers that are difficult to navigate for interest rates and cards
Cronos (CRO) competition
Cronos has stiff competition. The most closely related coins are FTX’s FTT token and Binance’s BNB.
CRO has a market cap of $5 billion and FTX’s FTT token has a market cap of around $4 billion compared to Binance Coin (BNB’s) $50 billion.
Compared to FTT, BNB offers much more functionality. It also has additional application instances, which gives it an advantage in attracting new investors. Although it was released before the FTT token, the expertise behind it makes it more appealing. It has an ecosystem that gives it a more entrenched user experience that has a significant impact on tokenomics.
FTT is at a similar stage to CRO in terms of adoption; The coin that performs best over the long term will have the best exchange and utility behind it. If your favorite exchange is FTX, owning FTT offers some decent rewards.
It comes down to which exchange can deliver the most with their respective coin; Realistically, they could all do well as the space is ripe for takeover.
How to make money with Cronos (CRO).
1 minute recap
Crypto.com strives to make cryptocurrency a part of everyday life by offering a full range of services for crypto users. The company offers a Crypto.com App, Exchange, Visa Card, DeFi Swap, DeFi Wallet, DeFi Earn, Crypto.com Price, Staking, Crypto Lending and many other services. However, what really sets them apart is the combination of super low fees and incredibly generous rewards programs for their users.
- Traders who want access to a secure, low-cost cryptocurrency exchange
- Passive investors who want to earn interest on their deposits without frequent trading
- Mobile investors who prefer to handle all their crypto needs from their phone or tablet
- Low fees
- High security
- One stop shop for all your crypto needs (wallet, trading, spending and more)
- Lots of ways to earn interest, bonuses and rebates
- Low privacy
- Customer service response time could be improved
There are three ways you can use Cronos to make money: Crypto.com’s Crypto Earn feature, debit card rewards, and DApp liquidity pools.
In-app staking is low-yield and provides access to Crypto.com’s Crypto Earn product, which is good for people less used to decentralized finance (DeFi). It offers an intuitive way to earn interest on stablecoins and a variety of other cryptocurrencies. For example, you could earn up to 8% on USDC by relying on Crypto.com’s $750 million insurance against the chance of a hack.
Debit card rewards can work well if you have cash on hand to invest in CRO. The $4,000 tier gives you free Spotify and Netflix, which is a monthly savings of $26, and if you spend $2,500 that month, you’ll earn the maximum $50 in CRO rewards. However, it would be the wrong mindset for this card to want to fully recoup your initial investment. Think of it as an investment in CRO that you would otherwise have made, whether you own the card or not.
The debit card allows you to use the Earn product and earn interest on your money in a checking account. The card must be loaded with fiat money, not coins locked in the Earn product. In other words, cash from wagering $10,000 in the Earn product can only be used for payments after the wagering is over.
DApp liquidity pools can be found on CronaSwap and the Crodex app, which are active DApps in the Cronos ecosystem. If you have experience with DeFi these tools may work well for you, otherwise in-app resources are the way to go as they are easier to use.
How to Buy Cronos (CRO)
Cronos is best obtained through Crypto.com. It offers promotional incentives and many resources for using the coin.
So is Cronos (CRO) here to stay?
Cronos seems to be here to stay. CRO has a thriving ecosystem that includes the Crypto.com debit card. Crypto.com has established itself as a top exchange without any indication that it will abandon CRO. Crypto.com will likely stand the test of time, and so will the associated coin.
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