Crypto.com Coin (CRO): overview of the cryptocurrency token and platform, course, development prospects

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Crypto.com Coin (CRO) is a token of the Crypto platform. The platform includes a wide range of services for working with cryptocurrency – a payment system, a cryptocurrency wallet, a VISA bank card, an application, an exchange for trading, decentralized financial services, crypto loans and deposits.

The proprietary blockchain is the key technology of the platform, on which all payments, trade and financial services, including a mobile payment solution, are carried out. Crypto.com Coin (CRO) is a native ERC-20 token, which in turn runs on the Ethereum blockchain and has extensive functionality in each of the project areas. The Btcnewsweb.com editorial team offers a detailed overview of the purpose of the CRO token within the Crypto.com platform.

Cryptocurrency Crypto.com Coin (CRO) to Tether (USDT) chart

Information

NameCrypto.com Coin
TickerCRO
Token typeutility-токен ERC20
BlockchainEthereum
Total emission100 000 000 000 CRO
Current issue (as of 22.08.2020)18 860 730 593 CRO
Course (as of 22.08.2020)0,167485 $
Market Capitalization (as of 22.08.2020)3 155 303 701 $
Official sitehttps://crypto.com/en/token.html
Twitterhttps://twitter.com/cryptocom
White Paperhttps://crypto.com/images/crypto_com_whitepaper.pdf
ExchangesOKEx, Bittrex, ZB

About the Crypto.com platform and the role of the CRO token

Consider the functions that make up the ecosystem.

Crypto.com Pay

A mobile payment service that allows you to send or receive cryptocurrency. Powered by the native Crypto.com Chain blockchain. The main features are low or no commissions at all, low volatility and risks (you can accept cryptocurrency in the chosen fiat currency), ease of setup and management. The service allows you to make and accept payments for goods and services, use gift cards, add users as friends and exchange transactions with them.

Role of the CRO token:

✅  Up to 20% cashback for payment transactions.

✅  Up to 10% cashback for transfers to friends and transactions with gift cards.

Crypto.com Chain

A public blockchain that allows transactions around the world, both between people and between companies. Features: high-security fault-tolerant architecture, minimal fees and instant transaction confirmations, protected user privacy, open source with the ability to suggest improvements to users.

For developers, there is a detailed technical White Paper that addresses issues of consensus, governance, security, privacy, and other key aspects of architecture.

The role of the token: staking and earning on commissions for transactions taking place in the network.

MCO Visa Card

A plastic card that allows you to spend cryptocurrency anywhere without high fees and long processing times. It is accepted wherever VISA cards are accepted, that is, in more than 50 million retail outlets around the world, including abroad. The use of the card provides additional benefits to its holders. You can manage it through your account in the system. It is also allowed to withdraw funds from ATMs without commission (unless the owner of the ATM has set his own commission).

Recommended: a list of bitcoin cards.

There are five types of cards available for ordering, which differ in cost and benefits:

  • Midnight Blue. Free. Up to $ 200 per month cash withdrawals, up to $ 2000 non-cash payments. Cashback 1%.
  • Ruby Steel. It is required to keep 1000 CRO on the account within 6 months. Up to $ 400 per month cash withdrawals, up to $ 4000 non-cash payments. Cashback 2%.
  • Jade Green / Royal Indigo. It is required to keep 10,000 CRO on the account within 6 months. Up to $ 800 per month cash withdrawals, up to $ 10,000 cashless payments. Cashback 3%.
  • Icy White / Frosted Rose Gold. It is required to keep 100,000 CRO on the account within 6 months. Up to $ 1000 per month cash withdrawals, up to $ 20,000 cashless payments. Cashback 4%.
  • Obsidian. It is required to hold 1,000,000 CRO in the account within 6 months. Up to $ 1000 per month cash withdrawal, unlimited cashless payments. Cashback 5%.

In addition, cards that are provided on a paid basis provide additional bonuses.

Role of the token:

  • Reservation of the paid version of the Visa card.
  • Cashback up to 5% from card transactions.
  • Interest earnings on funds frozen for six months.
  • Exclusive rewards for owners of over 100,000 CRO.

Crypto.com App

The iOS and Android app allows you to buy, sell, store, send and track cryptocurrencies. The patented Vortex Trading Engine strips liquidity from major exchanges and distributes orders among them to find the best rate for execution. There are ways to interact with fiat, as well as an interface for managing the card.

Role of the token:

✅  Participation in the airdrops of new tokens.

✅  Increased staking reward.

Crypto.com Exchange

An exchange for trading cryptocurrencies that provides deep liquidity and the best prices for order execution. Additional ways to earn and receive bonuses. Flexible and scalable infrastructure for institutions. Initially, the functionality of spot trading is available, plus additional services for retail and corporate users.

Role of the token:

✅  Staking with a yield of up to 20% per annum.

✅  Discounts on commissions for execution of orders.

Crypto.com DeFi Wallet

A decentralized wallet application that allows the user to keep private keys. Transactions with configurable confirmation rate and network charges. Encryption of private keys on the user’s device, as well as additional protection with password, biometrics and 2-factor authentication. Interaction with other components of the ecosystem.

Role of the token:

✅  Access to DeFi options.

✅  Improved staking reward.

Crypto Earn and Credit

A solution for passive earnings on cryptoassets. The user can invest their unused funds for a fixed period (1-3 months) or for a flexible period and earn up to double-digit annual interest rates. Earning starts automatically as soon as the funds are deposited into the account.

Crypto Credit, in turn, allows you to take out a loan in stablecoins secured by cryptocurrencies BTC, ETH, CRO, XRP, LTC, XLM, EOS. The loan is issued instantly as soon as the user replaces the collateral.

Role of the token: improved interest rates.

Advantages and disadvantages

Pros:

✅  Wide functionality and usefulness of the CRO token.

✅  Available to buy and sell on some popular exchanges.

✅  Earnings on staking.

Cons:

❌  While the token is not supported by all exchanges.

Perspectives

The Crypto.com platform and its token are in demand today, thanks to a wide range of modern financial services, including those based on DeFi principles. In addition to being just a convenient tool for storing and using cryptocurrency, it also provides many options for additional income. The immediate plans of the project are to expand the sphere of influence of bank cards, add margin trading, OTC trading, and decentralized loans.

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