Cronos (CRO) Price
CRO
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About Cronos (CRO)
Cronos (CRO) is the native utility token of Crypto.org chain and the Cronos EVM Chain.
Cronos Chain is an interoperable, EVM compatible blockchain built using the Cosmos SDK. Its sister, the Crypto.org Chain, plays host to a mobile payment solution, Crypto.com Pay, as well as various DeFi-related offerings.
All three products (CRO, Cronos Chain, and Crypto.org Chain) are the brainchild of Singapore-based Crypto.com.
CRO provides vast utility within the Crypto.com ecosystem.
Token holders can leverage CRO across the firm’s product suite to receive discounts on trading fees and everyday payments via the Crypto.com Visa Card.
Moreover, users receive 10% cashback when using CRO as payment on Crypto.com Pay.
Staking CRO to any one of Crypto.com’s yield-earning mechanisms entitles holders to an increased return relative to other tokens.
Cronos also acts as the primary means of settlement for Cronos Chain and the Crypto.org Chain. All transaction fees on both networks are paid using CRO.
Crypto.com has recently garnered a lot of attention. In July of 2021, the firm walloped the crypto space by way of a multi-year partnership with UFC. Three months later Crypto.com doubled down on sports-related promotions, paying $700 million for the naming rights to the Staples Center in downtown L.A.
How is the price of CRO determined?
Cronos is a deflationary asset with a hard cap of 30 billion tokens. At the time of its initial release, 100 billion CRO were minted, 70% of which have since been burned and taken out of circulation by Crypto.com.
Some 10% of CRO’s supply was earmarked for initial distribution and later airdropped to participating MCO token holders on a monthly basis, Messari explained. As of June 2022, there were 25.3 billion CRO in circulation.
Why does CRO have value?
It’s an extension of the token’s utility within the Crypto.com ecosystem. CRO has functionality across DeFi; it’s a native payments platform, and various exchange products are associated with it, underscoring its value proposition.
What are the main benefits of CRO?
- Cronos is the native asset of not one but two blockchain networks, which works to increase the token’s utility.
- CRO entitles token holders to various incentives/rewards across the Crypto.com ecosystem.
- Users receive 10% cash back each time they make a CRO-denominated payment via Crypto.com Pay.
How to buy Cronos (CRO)
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1. Go to Uphold.com and click sign up.
2. Enter your email address and personal details.
3. Click the link we send you and create a password
… and you’re off to the races!
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