Crypto.com - Cronos (CRO)

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Payments and cryptocurrency platform Crypto.com’s (now known as Cronos) token (CRO) is an initiative by the company to facilitate a transaction system that connects merchants and users, with the intention of making retail payments seamless and inexpensive. Founded in June 2016 by Kris Marszalek, the platform’s ICO raised $26.7 million for its MCO token in an ICO held in Q2 2017.

Crypto.com actually has two tokens: the MCO token and the Chain (CRO) token, the latter being the token for the platform’s very own blockchain. Initially starting off by offering a wallet, a mobile app and a prepaid Visa card, Crypto.com has since moved to offering its own crypto that ties in with its products and services. Its Visa card is one of its more touted features, letting users buy prepaid visa cards with fiat currency and letting them use it at merchants that accept Visa. It includes offers such as receiving up to 5% cashback in the form of MCO tokens.

However, its CRO token is a better indicator of Crypto.com’s larger business strategy. The utility of the token comes in the form of it enabling cross-asset currency settlement, settling blockchain transaction fees, rewarding nodes for participating in the network and offering services with lower fees when used.

Crypto.com’s Chain is a native blockchain solution that the team is bringing for more seamless payment. The whitepaper reveals that the team believes that no transaction fees for merchants and strong promotional offers, among other things, will help develop their ecosystem. Offline merchant acquisition and a gradually increasing degree of decentralization are two key priorities.

 


Letting A Bad Crypto Investment Die

23 Nov 2022 2 minute read 3 comments Steve Hodl

You may have read my article last week about CRO. Although I am not really interested in CRO, I am a holder of the CRO token and as per the chart I shared last week, my investment is down around 80%. source Here you can see the longer timeframe. I o...

How to do Cronos Yield Farming with VVS Finance in Crypto.com - VVS Finance Tutorial Learn How to Stake in Liquidity Pools

23 Nov 2022 7 minute read 0 comments Charles Gune

I will show you how to Yield farming on VVS Finance on Cronos Chain and Earn 40% APY on CRO-USDC liquidity pools.  Cronos (CRO) is the native cryptocurrency token of Cronos Chain — a decentralized, open-source blockchain developed by the Crypto.com...

CRO - Fud or Crud?

17 Nov 2022 2 minute read 2 comments Steve Hodl

Suspension of withdrawals is becoming the dreaded words that many crypto hodlers on exchanges are fearing the most. One of the first things I do when using any investment service is to test the "exits" to make sure I can get my crypto out and that I...

Further musings on moving assets around

17 Nov 2022 1 minute read 1 comment garethvjones

I’ve been giving more thought to moving my crypto into Wealthsimple following my recent post on the subject.  The thing is, whilst Wealthsimple allows you to buy and sell crypto, and they’re regulated here in Canada, they’re not actually a crypto exc...

If crypto.com's business model was a rap song

15 Nov 2022 1 minute read 0 comments LeftFooted

Hello and welcome to a new blog. I've named it Crypto Rap Lyrics because I write about crypto, but I also like rap music. Many, many, many years ago - way before all of this started - I actually began writing rap lyrics. For fun. So I thought it w...

Moving my crypto

15 Nov 2022 1 minute read 7 comments garethvjones

I'm sure that many of us smaller investors are a little more anxious and a little more cautious following the collapse of FTX. I'm also pretty sure that a lot of us have many questions regarding the safety and security of our crypto currencies in the...

Should we be worried about crypto.com

14 Nov 2022 1 minute read 0 comments garethvjones

Over the weekend I have been following the saga that is the collapse of FTX. It happened so quickly that people didn't get a chance to react and many have lost millions. Now, I'm seeing some concerning news about crypto.com. In the screenshot below f...

Insolvency Concerns Spell Trouble for Crypto.com's Native Token Cronos (CRO)

14 Nov 2022 2 minute read 6 comments kev_nag

The bears are circling Crypyto.com in a prevalent manner. A simple glance at the seven day price chart for CRO amply shows this 20+% drop in that period: Photo Source As of now, November 14, 2022 at 07:01 ET CRO is priced by CoinMarketCap at $0.07115...

The Plutus Card - The Next Generation of Finance

14 Nov 2022 3 minute read 32 comments PVMihalache

I can't remember who told me about Plutus first, it may be Sugarfix, but that guy deserves a medal! I checked with Plutus after the recommendation, as I was told they are better than Crypto.com and I decided to see if it's true or fake. They promote...

Crypto-com update! Funds on the move, is everything ok?

13 Nov 2022 1 minute read 12 comments Patch

There were a lot of people who told me that everything was as it should be with Crypto.com. And that the funds were just a mirror of what people had put there. And I will admit that if that is the case then there truly is nothing to see. But now repo...