11 Mar
11Mar

Crypto.com is currently one of the largest crypto exchanges in the world at the moment. It 's a Singapore based crypto investing and trading platform . They started gaining worldwide recognition after purchasing the naming rights of the former staples center in Los Angeles and endorsing a number of popular celebrities.

WHAT IS CRONOS

Cronos is the native and utility coin/token of crypto.com. it was formerly called  crypto.com coin before the recent name change. this new name reflects the decentralized nature of this coin and represents the next stage in the adoption of cronos in web3 ecosystem.

Cronos($CRO) is also an EVM(Ethereum virtual machine) chain running in parallel with crypto.com chain that's designed to support defi and gamefi application and a foundational support for the metaverse. Cronos runs on a proof of authenticity (PoA) consensus and is powered by ethermint.

CRONOS FEATURES

  •  Scalable - Faster and cheaper than Ethereum (ETH) in executing smart contracts.
  • EVM compatible - Ethermint makes cronos capable of supporting DAOs or Dapps deployed in ETH
  • Easy Deployment - Cronos network can be deployed easily for any purpose

CRO tokens are intended to be used for payments and staking purposes and they will also be used by users to participate in the cronos defi ecosystem which will magnify the popularity of cronos in the near future as this token continues to develop

SHOULD YOU BUY CRONOS

Buying any cryptocurrency from Bitcoin, Ethereum to any other Altcoin comes with significant risk and possibility of loss of capital and your money being exposed to volatility, which can be intense in the crypto world. you should consult a financial expert or do your due diligence before committing your money to any crypto project or simply invest with money you can afford to lose. Cronos is subject to significant price swings. But buying and holding this token will guarantee reduction in trading fees and other earning possibilities you can find on the crypto.com platform

HOW TO BUY CRONOS

  1. Open an account with a CEX that supports Cronos(CRO).  Kucoin, Bybit, Binance and Crypto.com are good options
  2. Fund your account - Transfer your fiat currency like the U.S dollars to your preferred exchange of choice.
  3. Buy Cronos(CRO) - After linking and funding your account, Decide how much CRO you want to buy then click buy. You will see your available balance in your account.
  4. Transfer Cronos(CRO) to Wallet - It's vital to move your coins to a separate crypto wallet to better protect your crypto assets. Especially if you're planning to hold cronos long-term using an offline or cold wallet means your coins become unhackable.

BENEFITS OF BUYING CRONOS

  • Strong potential for growth
  • Low trading fees on crypto.com
  • High staking APY

RISKS OF BUYING CRONOS

  • High Volatility
  • Security Concerns - In January 2022 crypto.com exchange was hacked and over $33 million was stolen. this led to CRO value falling. Security issues always exist when investing in cryptocurrencies.

Crypto.com has been around for awhile and continues to innovate and expand  in thier blockchain development. Cronos can be used in every part of it's ecosystem this means we will be experiencing steady growth, increase and innovation.

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