CRO

Cryptocurrency Overview

Crypto.com Coin (CRO) is the native cryptocurrency of the Crypto.com ecosystem. It's designed to incentivize use of the Crypto.com App and Exchange, offering benefits like trading fee discounts, higher interest rates on crypto deposits, and cashback rewards on purchases made with the Crypto.com Visa Card.

CRO can be staked to secure the Crypto.org Chain, a blockchain network focused on facilitating fast and low-cost payments. Staking CRO also provides users with the right to participate in network governance.

Introduction to cryptocurrency exchanges

Crypto.com Coin (CRO) is available on a variety of cryptocurrency exchanges, including Crypto.com Exchange, Coinbase, KuCoin, and Huobi Global. It can be traded against various cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), as well as fiat currencies like USD and EUR..

Mobile trading app for buying cryptocurrencies

To buy Crypto.com Coin (CRO) on your phone, you can use several mobile trading apps:

Crypto.com App: This is the native app for CRO and provides a seamless buying experience with various payment methods like credit/debit cards and bank transfers.

Coinbase App: A popular and user-friendly app that allows you to buy CRO with USD or other cryptocurrencies.

KuCoin App: Offers a wider range of trading pairs for CRO, including various altcoins and stablecoins.

Huobi App: Another option with a comprehensive trading platform and diverse CRO trading pairs.

Why it's the best token

Crypto.com Coin (CRO) is considered one of the best crypto tokens due to its widespread adoption, strong utility, and growing ecosystem. CRO powers the Crypto.com platform, which offers a comprehensive suite of financial services, from trading to payments and lending. The CRO token's value is tied to the platform's growth and adoption, making it an attractive investment option for those bullish on the future of cryptocurrency.

Token address

Crypto.com Coin (CRO) exists on multiple blockchains, so it has different token addresses:

Ethereum (ERC20): 0xa0b73e1ff0b80914ab6fe0444e65848c4c34450b

This is the original CRO token, used for trading on most exchanges and compatible with Ethereum wallets.

Cronos (Native CRO): This is the native token on the Crypto.org Chain.

It has no single address, as each user's wallet on the Cronos chain has its own unique address.

Token transfer

Transferring Crypto.com Coin (CRO) depends on the network it's on.

Within Crypto.com: Transfers between the App and Exchange are seamless and don't require specifying addresses.

External Wallets/Exchanges: Ensure you're using the correct network (ERC20 or Cronos) and corresponding address. Sending to the wrong address can result in loss of funds.

Cronos Chain (Native CRO): Use your Cronos wallet address for transfers within the Cronos ecosystem.

Cryptocurrency wallets

Crypto.com Coin (CRO) is compatible with a variety of wallets, catering to different needs and preferences:

Crypto.com DeFi Wallet: This non-custodial wallet, integrated into the Crypto.com ecosystem, provides a secure way to store and manage CRO alongside other cryptocurrencies. It also offers DeFi features like staking and swapping.

Crypto.com App: Primarily a mobile trading app, it also functions as a wallet for storing CRO and other supported assets. It's convenient for users already engaged with the Crypto.com platform.

Software Wallets:

Trust Wallet: A popular mobile wallet that supports CRO (both ERC20 and native) and a wide range of other tokens.

MetaMask: A browser extension wallet primarily used for Ethereum and ERC20 tokens like CRO.

Exodus: A user-friendly desktop and mobile wallet supporting various cryptocurrencies, including CRO.

Hardware Wallets:

Ledger Nano S/X: These hardware wallets offer enhanced security for storing CRO and other cryptocurrencies offline.

Trezor Model T: Another secure hardware wallet option compatible with CRO.

Online Wallets:

Crypto.com Exchange: While not a dedicated wallet, the exchange allows you to store CRO and other cryptocurrencies within your trading account.

Cryptocurrency taxation

Crypto.com Coin (CRO) trading, like any cryptocurrency transaction, can have tax implications depending on your jurisdiction and specific circumstances. Here's an overview of potential tax scenarios:

United States:

Capital Gains Tax: Buying and selling CRO is considered a taxable event. If you sell CRO for more than you bought it for, you'll owe capital gains tax on the profit. The tax rate depends on how long you held the CRO (short-term vs. long-term) and your income bracket.

Income Tax: If you earn CRO through staking, rewards, or airdrops, it's typically considered ordinary income and taxed accordingly.

Form 1099-MISC: Crypto.com may issue a 1099-MISC to report income earned from their platform exceeding $600.

Other Countries:

Tax regulations vary significantly across countries. Some may treat cryptocurrencies as property, while others classify them as commodities or currencies.

It's crucial to research your country's specific tax laws regarding cryptocurrency transactions.

Cryptocurrency security

Crypto.com prioritizes the security of CRO and user assets. 100% of user deposits are held in offline cold storage, reducing the risk of hacks. The platform also employs multi-factor authentication (MFA), withdrawal whitelisting, and regular security assessments.

Currency login

To access your Crypto.com Coin (CRO) tokens, you can log in to the Crypto.com app or website. First, download the Crypto.com mobile app or visit their website. Create an account and verify your identity using government-issued ID. Once authenticated, you can view your CRO balance, make transactions, and manage your crypto portfolio. The platform also offers various features like buying, selling, sending, and earning interest on your CRO tokens. Remember to enable two-factor authentication for added security.

Supported Payment Methods for Purchasing

Crypto.com supports various payment methods for buying Crypto.com Coin (CRO) and other cryptocurrencies:

Crypto.com App:

Credit/Debit Cards: Visa, Mastercard, and UnionPay cards are accepted.

Crypto Wallet: You can use your existing crypto holdings (BTC, ETH, etc.) to purchase CRO.

Fiat Wallet: Deposit fiat currency (USD, EUR, etc.) via bank transfer and use it to buy CRO.

Crypto.com Exchange:

Crypto Wallet: Similar to the app, you can use your crypto holdings to trade for CRO.

Fiat Wallet: Deposit fiat currency via bank transfer and use it for trading.

Wire Transfer: For larger amounts, wire transfers are available.

Additional Options:

Third-Party Providers: Crypto.com also partners with third-party providers like Banxa and Transak, offering additional payment methods like Apple Pay and Google Pay.

Online purchase of USD/USDT

To buy Crypto.com Coin (CRO) using USD or USDT online, you can follow these steps:

Choose a Platform: Select a cryptocurrency exchange that supports CRO/USD or CRO/USDT trading pairs. Popular options include Crypto.com Exchange, Coinbase, and KuCoin.

Create an Account: Sign up and complete the verification process on the chosen platform.

Deposit Funds: Deposit USD or USDT into your account using supported payment methods (bank transfer, credit/debit card, etc.).

Place an Order: Navigate to the CRO trading section and select the desired trading pair (CRO/USD or CRO/USDT). Enter the amount of CRO you want to buy and place a market or limit order.

Receive CRO: Once your order is executed, the CRO will be credited to your exchange wallet.

Buying with loans/financing

Crypto.com offers a feature called “Crypto Credit” that allows you to borrow funds against your existing crypto holdings. You can then use these borrowed funds to buy more CRO or other cryptocurrencies.

Here's how it works:

Deposit Collateral: Deposit CRO or other supported cryptocurrencies as collateral.

Borrow Funds: Borrow up to 50% of the value of your collateral in stablecoins like Tether (USDT) or USD Coin (USDC).

Buy CRO: Use the borrowed funds to purchase CRO on the Crypto.com Exchange.

About support for monthly payments of tokens

To purchase Crypto.com Coin (CRO) through a monthly payment plan, visit the Crypto.com website or app. After creating an account and verifying your identity, select the “Buy Crypto” option and choose CRO. Scroll down to find the monthly payment plan and select the desired amount you wish to acquire. Enter your payment information, such as a credit or debit card, and the duration of the plan. Crypto.com will then divide the total cost into equal monthly installments, allowing you to gradually build your CRO holdings over time. Review the terms and conditions before completing the transaction.