CRO/USD Technical Analysis
About Crypto.com (CRO)
Crypto.com (CRO) is the native token that is used in the Crypto.com ecosystem. Crypto.com Chain is a digital asset and payment platform that enables consumers to trade, buy, sell and even pay with digital currency. It is primarily composed of payment solution services, a digital asset exchange, a borrowing and lending platform, a point of sale Visa card and a smart contract platform.
Crypto.com (CRO) was launched in 2020, to replace the original native token, MCO. The market cap for the CRO is at $5.19 billion. Almost 25,263,013,692 CRO coins are in circulation at the moment, and the maximum supply is set at 30,263,013,692 Crypto.com coins. CRO is used for payments, settlements and staking in the Crypto.com platform.
Users can also use CRO within the Crypto.com Pay wallet app, viah their mobile, to pay any merchant partnered with the firm, to buy digital collectibles on the NFT marketplace, to shop for Pay Gift Cards, and to conduct peer-to-peer transactions. You can also earn rewards by using the Crypto.com services. Since Crypto.com is one of the largest and fastest-growing blockchain platforms worldwide, it tends to attract more users, and as a result, CRO’s rate is likely to increase with it.
Crypto.com aims to cover all other options in the areas of spending, investing and saving money, through the convenience of their native cryptocurrency, CRO. Crypto.com is a next-generation public blockchain solution that enables users to amplify their crypto transactions and financial services in a futuristic manner. The CRO ecosystem provides payment solutions for trading highlights and more, all of which are designed in a highly secured outline. The CRO token utilizes all the options within the Crypto.com and Cronos chains, that address user security while granting access to high-level asset usage, like payments or peer-to-peer banking via smart contracts and the like.
With its dedication to decentralizing and boosting the price of CRO, Crypto.com conducted a historical and monumental token burn of 70 billion CRO from its maximum supply of 100 billion tokens. This move drew positive reactions from the market, sending the Crypto.com price up by more than 100%, which saw it reach its all-time high - you can see it on the CRO chart. Crypto.com offers users cashbacks and attractive rewards just from trading, purchasing, staking and providing liquidity in the network. With a well-established platform and securities, CRO is one of the best cryptocurrencies available on the market today.
Crypto.com was first established by its founder/CEO Kris Marszalek under the name “Monaco” in June 2016. At that time, it was only a solo payment service partnered with Visa card. In 2017, the native token, MCO, was generated via an ICO funding, which gathered $26.7 million via public selling of 12,135,542 MCO tokens.
In July 2018, Monaco rebranded its name to Crypto.com, a domain name that was bought from Matt Blaze, a cryptographer who initially registered the name Crypto.com in 1993. Around the same year, the firm began shipping its trademark Visa cards and announced the launch of the Crypto.com blockchain platform. In 2019, the firm added more and more infrastructure, from crypto-to-crypto exchanges, to centralized crypto lending and borrowing services, referred to as Crypto Earn and Crypto Credit.
In 2020, the firm launched its DeFi Wallet and new swap inclinations. Crypto.com also decided to phase out MCO tokens and encouraged its users to swap their MCO tokens to CRO. The CRO token became the native utility token on the Crypto.com blockchain network. This year, Crypto.com created its NFT marketplace, with the intention of daring developers in the space. The present NFT marketplace collaborates with well-known brands, including Snoop Dogg, Mr. Brainwash, Serie A and Aston Martin.
CRO Price Factors
Any increase in user activity on the Crypto.com platform, accompanied by a higher rate of people downloading it, can influence the price of CRO. Since its native token is what users use within the Crypto.com network, CRO’s rate rises when users conduct more transactions and new clients access its other services. Learning to analyze CRO charts, along with sound knowledge of the network, will help you understand what factors could possibly affect Crypto.com’s price.
Crypto.com’s mobile app is the most popular free financial app in several parts of the world, particularly in Asian countries like Singapore and Hong Kong. Crypto.com Visa card, a crypto-focus card, has become available across more regions around the globe too. CRO Visa card also offers user rewards for staking CRO. This internationally widespread presence positively influences the increases in the price of CRO.
The crypto market has long been a volatile one, but consumers can now use it for making payments for everyday living. This is helping CRO to become a widely adopted digital currency, with 10 million users currently. As more users sign up on the Crypto.com platform and the on-chain activity increases, it will further boost the rate of CRO going forward.
News in the media
Crypto.com’s founder and CEO Kris Marszalek announced on February 24, 2021 that the company had crossed the 10 million user mark. This was another big milestone, aside from the company's big revenue growth in 2020. Along with that, several deals were announced, one of which was to develop NFTs and programs that will include Crypto.com-based payments. The company has been aggressively collaborating with and sponsoring brands from the world’s biggest basketball, motorsports, MMA and American football events. Embedding CRO’s brand across the globe through partnerships helps influence the price of CRO, as it gains more users.
To start trading, search for a trading platform that lists CRO in one or more currency pairs. Reading reviews online and visiting forums to gain more knowledge about the company is a must. Once you’ve found a suitable platform, register an account. Remember that they must comply with high security and ethical standards to ensure that the money you deposit is safe, and that they also abide by the laws designed to protect traders.
The cost of trading crypto varies, so it is a must to create a trading strategy that will work for you. Most trading platforms show US dollar values of altcoin in a comparitive table and provide a CRO price chart. Do take note of the possible fees from exchanging CRO to trade it on your chosen trading platform. Traders should consider the risks involved too, since the crypto market is impossible to predict, as it fluctuates too fast.
Having the proper basic knowledge on your potential investment will make you more confident when trading cryptos. The crypto industry makes news daily with new exchanges, products and services, so finding reliable, current details is vital.
CRO/USD - FAQs
Crypto.com coin (CRO) is the utility token in the Crypto.com ecosystem. It is used for payments, buying and selling, and staking. It also serves as a governance token for its proof-of-stake technology. It has a total supply of 30.26 billion.
To start trading, create an account on a crypto exchange that supports the Crypto.com coin and offers the best CRO price. Next, deposit funds into your newly created account. Once that has been done, you can start buying CRO and trading it against other cryptocurrencies, fiat currencies and even stablecoins.
It is advised that you store your CRO in a secured wallet, for security purposes, instead of holding it on an exchange. Choose an ERC-20 token-compatible wallet that best suits your preferences.
You can use your CRO tokens to buy and sell other cryptocurrencies available in the Crypto.com exchange. Since it's now also available on DeFi Swap, users can swap CRO and earn profits by staking CRO.
Crypto.com remains legal, since there have been no regulatory reports on this platform so far. It has robust security features and provides financial security for its customers.
The trading of cryptocurrencies is not regulated in the UK You can win, use, trade and hold Crypto.com’s CRO within the country, provided that it is done in compliance with the requirements, as set out by the authorities.
The main risk in trading in any crypto market, including Crypto.com, is its price volatility, which is why it is best to be prepared when trading cryptocurrencies, in order to minimize these kinds of drawbacks.