Crypto.com Coin Price

CRO is the native digital asset of the Cronos Chain and also serves as the utility token of the Crypto.com cryptocurrency exchange. Cronos Chain is an open-source, decentralized blockchain network developed by the Crypto.com team to support its payments ecosystem.

The ecosystem delivers a comprehensive way to drive mainstream adoption of cryptocurrencies as payment methods worldwide. Crypto.com offers a platform for trading cryptocurrencies, using them as a payment method, and accessing other financial services for digital assets.

The CRO token, the native cryptocurrency of Cronos Chain, powers the Crypto.com payments ecosystem and gives its holders and users several distinct benefits when transactions on the platform.

CRO holders receive several incentives for participating and using the Crypto.com platform and its various services. The CRO token rose in the crypto market in terms of market cap amid an uptick in the number of users signing up to use the platform.

The Ethereum-compatible Cronos Chain blockchain ecosystem is developed using Cosmos SDK. It works similar to the Binance Chain and Binance Smart Chain (BSC). Its EVM compatibility feature can let developers create or migrate their existing Ethereum-based dApps to Cronos's ecosystem.

Not only will dApps operating on the Cronos blockchain enjoy the benefits of faster transaction processing and lower gas fees, but they can also enjoy higher levels of scalability than Layer-1 Ethereum offers. This is because Cronos Chain supports interconnectivity among multiple blockchain networks via the Cosmos IBC (Inter Blockchain Communications) protocol.

This will offer assets and data on the EVM-compatible chain, Cronos Chain, to be bridged to all other dApps running on other IBC-enabled chains, offering improved scalability and liquidity. The popularity of the Cronos Chain and its native token was bolstered in 2021, powered not only by the bull run in the crypto and DeFi markets but also thanks to grants programs encouraging the development of its dApps’ ecosystem.

Cronos Chain functions as the underlying infrastructure that supports Crypto.com’s vision to take cryptocurrencies mainstream globally. It is one of many products the company has developed to offer users access to decentralized, cryptographically secured, and more efficient ways to make payments using the power of blockchain technology.

The CRO coin offers several use cases to its holders, including:

Paying Transaction Fees on Cronos Chain

As the native digital asset of the Cronos Chain ecosystem, the CRO token is used to pay transaction fees by users and dApps utilizing the blockchain to send data and payments. However, the transaction fees on the ecosystem are far lower than those charged by Ethereum.

Receiving Discounts and Special Offers

CRO holders enjoy cashback when using the cryptocurrency to make payments to merchants, purchase gift cards and send payments to other users on the Crypto.com Pay platform.

Earning Token Rewards on Crypto.com Exchange

CRO token holders also receive token rewards for specific tokens listed on the Crypto.com exchange when they stake their $CRO on the platform.

Staking to Become Validators

Users can also stake CRO on the Cronos Chain to become validators who verify transactions and add new blocks to the blockchain network. In return for their efforts, they receive a percentage of transaction fees as rewards.

Crypto Asset to Invest in and Hold

As of June 2022, Cronos (CRO) is among the top 25 cryptocurrencies by market cap and enjoys high liquidity and trading volume across major crypto exchanges. It is a popular digital asset to trade against other cryptocurrencies or hold in the long term if you believe in the future potential of Crypto.com and the Cronos Chain. Ensure that you check the current Cronos price, CRO market cap, and 24-hour trading volume and perform fundamental, technical, and sentiment analysis every time you trade CRO.

Earn Passive Income

In addition to staking CRO on the Cronos Chain, you can also use CRO to grow your crypto capital in a risk-free manner by lending liquidity or staking the token on supported platforms. These methods can offer attractive returns and let you generate a stream of passive revenue more safely.

KuCoin offers a safe way to grow your Cronos holdings via its Crypto Lending feature. You can use this service to lend liquidity in CRO to the platform over 7 days, 14 days, or 28 days to earn attractive returns.