The year 2021 has seen a huge rise in the crypto industry as many crypto-based projects, networks, and companies have emerged as thriving and competent businesses. As the world of decentralized finance continues to expand its boundaries, many new crypto projects and assets continue to emerge, grow, develop, and succeed. In the same manner, Crypto.com has recently appeared as an innovative company that aims to offer financial services, functionalities, and solutions for crypto enthusiasts. To know what the company has to offer, continue reading this article.
What is Crypto.com (CRO)?
Crypto.com is an innovative and wholesome digital platform that not only serves as an exchange platform, it also offers its customers a native chain solution. The company was founded in 2016 and has been offering great blockchain and technical solutions for crypto investors and traders. Besides that, it offers NFT, fiat trading features, wallets services, and a wide range of cryptocurrencies as well.
The platform has facilitated its customers with its native blockchain known as Crypto.com Chain which is known for its seamless and secured services along with the ease of transaction rates by allowing cheaper and affordable transactions. In addition to this, the chain is also used to empower the Crypto.com ecosystem by accelerating the adoption of cryptocurrencies worldwide.
Besides that, the platform also has a native token in its ecosystem which serves as an intermediary currency. The token is named Cronos (CRO). For traders, the token proves to be even more beneficial with its ability to convert crypto to fiat currency including USD, EUR, etc. this way, the token can also be used as the network fees.
The Crypto.com Ecosystem
The Crypto.org Chain was launched in March 2021 as the next-generation public blockchain that will revolutionize the crypto sector with its innovative and effective decentralized transaction solutions. With the Crypto.org chain. A transaction can now happen effortlessly between people and industries making cross-border payments hassle-free.
The chain will also facilitate its mobile payment app Crypto.com Pay which will be soon launched worldwide. The app is already popular in Asia. following are some elements of the Crypto.org Chain:
The chain is designed as a fault-tolerant technique that will prevent every fraudulent activity to maintain its security and value.
- Rapid and Affordable
The Chain allows users to enjoy a great transaction experience with instant transactions and minimal fees.
Any party can join the network and contribute to the code development since the chain is an open-sourced project.
Cronos (CRO) Token
The Crypto.com Chain will use its native token known as Cronos or CRO to scale their financial services and make it the most competent, effective, and practical network that offers next-generation public blockchain and transaction solutions for its customers. From trading solutions to payment facilities, the token has solutions for every trading issue.
In addition to this, the token utilizes a security mechanism to its core that will maximize user protection. In general, the token will serve as the force to empower the Crypto.org Chain and Cronos Chain along with its ability to provide access to advanced asset utility that includes payments or peer-to-peer banking through smart contracts among other things.
Launched on 20th July 2021, the Cronos Chain is an open-source, secured, and decentralized public blockchain of the Crypto.com network that is known for providing top-notch financial services along with the backing of the Cosmos SDK that facilitates and supports its payment infrastructure.
Cronos is an Ethereum Virtual Machine (EVM) compatible sidechain that runs parallel with the Crypto.com chain. The sidechain is built to offer rapid, effortless, flexible, and simple migration of the applications and smart contracts from EVM-compatible chains. The Cronos chain is an important element of the Crypto.com ecosystem since it is used to empower the native token of the network which is used for staking, trading, and payments.
What does the Cronos Bridge Offer?
Cronos serves as a decentralized bridge that will enable rapid, affordable, and secure cross-chain transfers across Crypto.com, Cronos, and Ethereum. The Cronos bridge provides the following more benefits as well:
- Users can use the Crypto.com app to transfer assets.
- The Crypto.com exchange will enable crypto transfers, transactions, and trading.
- The Cronos bridge also allows consumers to move assets from Crypto.org Chain.
- The bridge supports $CRO, $WBTC, $ETH, $USDT, $USDC, and $DAI.
The platform, however, also plans to add Crypto.com DeFi Wallet and Crypto.com Chain Desktop wallet facility through the Cronos chain.
Features and Utility of Crypto.com (CRO)
The project Crypto.com was built and introduced as a means of providing permissionless next-generation blockchain solutions that will contribute to the global adoption of crypto assets as a mode of payment just like fiat currency. Its features include:
- The Invoice/Pay Checkout feature lets customers start checkouts and complete payments for goods and services using crypto through its wallet infrastructure.
- You can use CRO (Crypto.com Coin), fiat currency, or stable coins (USDT, etc.) to make payments.
- The Crypto.com exchange allows swapping CRO on DeFi Swap and staking it. Users can even become liquidity providers.
- The mobile app also lets users earn rewards through in-app missions.
Besides the trading and staking services, it also facilitates De-Fi services, VISA-powered cards, crypto loans, deposits and withdrawals.
Trading Advantage for the Crypto.com Users
Crypto.com has emerged as an innovative and effective platform that can benefit its customers with various crypto trading features and functionalities. The platform understands the needs of investors and artistically employs practical and effective solutions for the traders. Some of its trading facilities include:
- Spot trading.
- Deep liquidity.
- The platform keeps the consumers engaged with events including the discounted token distributions from Syndicate.
- High-volume traders can get competitive fees.
- The network is built through institutional-grade infrastructure that powers each and every element of the system.
According to some analysts and researchers, the exponential growth in terms of the utility and financial solutions offered by Crypto.com hints towards a better future where there will be a surge in CRO users. Despite being a novel addition to the crypto space, Crypto.com and its token CRO is likely to thrive in the time to come. The crypto industry is floating with an infinite amount of investors and traders who all wish to accumulate as much profit as they can with their assets. If you wish to invest in a secure, easy-to-use, and affordable blockchain provider, Crypto.com is the best match.