Crypto.com chain is a decentralized blockchain developed by Crypto.com. This is a crypto exchange and trading platform. The main aim of the Crypto.com Chain is to give people more control of their money and protect their online identities as they are involved with crypto payments. To do this, they launched Crypto.com coin(CRO), which is their native coin.
As the CRO blockchain provides a platform for users to access payments, trading, and CRO financial solutions, the coin acts as the currency for transactions in the blockchain. The CRO owners earn more coins for processing transactions in the blockchain. When using the Crypto.com app to make payments, they get a 20% cashback for every payment to merchants and 10% cashback for purchasing gift cards.
CRO is a non- mineable token. Crytpo.com limited the total number of coins in circulation to be 100 billion. They released the coins to have five different functions. These are:
- Thirty billion coins were to serve as secondary distribution. Since Nov 2018, Crypto.com has been releasing this in daily batches. This will continue till Nov 2023.
- Twenty billion coins will serve as a capital reserve. Crypto. Com has frozen this batch till Nov 2022.
- Twenty billion tokens will serve as Network Long-Term Incentives. This batch will start circulating in Nov 2022.
- Twenty billion coins will serve as the Ecosystem grants
- Ten billion coins will go to Community development projects.
At the time of writing, CRO is trading at $0.5751 at a market volume of $2,217,631,900 and a market cap of $14,519,712,570.
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Go to crypto.com and register for an account.
Alt Text: Crypto.com sign up page
Enter your email and password, and click that you have read the terms and conditions. Click verify and then click signup.
Go to your email and verify your email address, then log into your Crypto.com account.
To purchase CRO on Crypto.com, you need the Crypto.com app. So if you are using the desktop app, you will be redirected to download the app. You can buy CRO using three modes, a Credit card, Fiat wallet, or Crypto wallet.
On the app, click the home icon and click trade. A buy/ sell pop-up will appear. Choose ‘buy’.
Search CRO in the search bar, then select it. This will direct you to the payment page. On top of the page, select credit card. Enter the amount of CRO you want to buy, put in your Credit card details, and click Buy CRO.
Buy CRO using Fiat wallet
You can also deposit some money into the crypto.com account then use it to purchase the CRO. To do this Go to the homepage:
- Click the lion icon at the tab below the homepage.
- Choose Fiat wallet, then click transfer, and a withdraw/ deposit pop up will appear.
- Click deposit and choose your currency of choice. This will open a page with routing and account information that will enable you to transfer money from your bank account to your Crypto.com account.
Usually, this transaction takes a few days to be processed.
When the money reflects in your Crypto.com account, click the home icon, and click trade. A buy/ sell pop-up will appear. Choose ‘buy’.
Search for CRO in the search bar, then select it. Select Fiat wallet and the amount of CRO you want to buy on the payment page, then Click Buy CRO.
Buy CRO using Crypto Wallet
If you have another Cryptocurrency in your Crypto. Com account, you can use it to buy CRO. To do this repeat the buy steps above, but at the payment page, select Crypto wallet and enter the amount of CRO you want to buy.
Below the payment page, select the Crypto you want to use for payment and click buy CRO. This process is instantaneous.
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