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What is CRU Cryptounit Token?
CRU Cryptounit Token — a system token of the Cryptounit blockchain (utility token), used to pay for the creation of a business account on the Cryptounit blockchain and also as deposit when receiving financing from the company. CRU tokens can be staked to generate additional income. You can also convert the CRU token into the WCRU investment token and become a co-owner of the Global Investment Portfolio CryptoUnit.
The CRU token is issued on the Cryptounit blockchain, which is developed based on the EOS code and uses the Delegated Proof-of-Stake (DPoS) consensus algorithm. The advantage of the Cryptounit Blockchain is the high speed of transactions (up to 20,000 per second) and zero commission for the transfer of tokens.
The number of CRU tokens is currently ≈10 billion (there is no additional emission). The number of issued tokens will decrease as they are burned when CRU is converted into WCRU security tokens. All CRU tokens were distributed among the participants of the early stages of development of the CryptoUnit project and credited to their personal wallets on the Cryptounit blockchain. Initially, tokens have the status “Frozen”. Defrosting of CRU tokens starts after 365 days (or 540 days for tokens received as a bonus) and takes place according to the schedule at 1–5% per month. Defrosted tokens have the status “available” and they can be transferred to the wallets of other participants or to the crypto exchange for their sale.
CRU Token Application
The CRU Cryptounit token currently already has several applications and with the development of the project, its application can be expanded even more.
- CRU token as a payment method for creating a business account. Blockchain Cryptounit is a convenient way for anyone who wants to create their business on the blockchain, issue their own tokens and use smart contracts. At the same time, receive legal support and have official documents for their activities on the blockchain. In order to be able to run your business on the Cryptounit blockchain, you need to create a business account. The cost of creating a business account is $26,000 (from 1 April ≈$35,000), payment is made in CRU tokens.
- CRU tokens as collateral and vote to participate in the Block Producer contest. There are 21 validators involved in the creation of each new block in the Cryptounit network. Anyone who understands EOS blockchain, has enough technical power to keep a node running smoothly, and is able to develop software products and community around the project can become it. Validators are rewarded with UNTB tokens for their work and maintaining the blockchain ecosystem. To participate in the Block Producer Contest of the Cryptounit blockchain, you need to freeze 1 million CRU tokens in your account during the voting period. Any user of the crypto wallet will be able to vote for the producer with their CRU tokens. At the end of the contest, CRU tokens are returned to both the candidate and the voters.
- CRU tokens as deposit when receiving funding from the company. CRU is used as one of the base tokens in NDE (New Digital Evolution) digital guarantees. Digital guarantees help protect the investor and businessman; this is a prototype of a bank guarantee, where cryptocurrency and tokens, including CRU, can be used as deposit. This is already being used as part of the creation of the “Global Investment Portfolio CryptoUnit” when allocating funding to new projects. To receive funding for the development of their project, a deposit is left in the form of CRU tokens. In case of non-fulfillment of the obligations of the parties, the tokens placed as a guarantee will be transferred to the lender in accordance with the terms and conditions specified in the smart contract.
- CRU tokens generate income when staked. Holders of CRU tokens can stake their defrosted tokens and receive rewards in UNTB tokens on their crypto wallet. For more information on how to stake CRU tokens, see the instructions for using the Cryptounit wallet.
- CRU tokens can be converted into WCRU security tokens. Holders of WCRU tokens are the owners of the “Global Investment Portfolio CryptoUnit” and the right to participate in the distribution of profits (“dividends”). CRU tokens provide an opportunity to receive investment WCRU tokens on preferential terms. The conversion of CRU tokens to WCRU is done via the wallet on the Cryptounit blockchain. For details, see this CRU to WCRU conversion guide.
Where to keep CRU Cryptounit Token?
Crypto wallet on the Cryptounit blockchain allows you to safely store your CRU, WCRU, UNTB, USDU tokens, make transfers and also receive income from staking CRU, WCRU tokens. You can get access to your crypto wallet from any browser by going to the official website of the Cryptounit Blockchain.
Read also: how to create a new wallet on the Cryptounit blockchain and also detailed instructions on how to use the Cryptounit wallet.
Where to buy, sell CRU token?
Owners of unfrozen CRU tokens can freely transfer their tokens to wallets of other participants or to a crypto exchange for sale. Let’s take a closer look and compare the available ways to Buy/Sell defrosted CRU tokens.
1) Buy, sell CRU on the LocalTrade exchange
LocalTrade exchange — a modern platform that offers a service for buying/selling and exchanging cryptocurrencies or fiat money. LocalTrade has a trading volume of more than $100 million per day and is included in the TOP-100 exchanges according to CoinMarketCap.
- Register on the LocalTrade exchange.
- Trading pair: CRU/USDT.
- User verification: optional if you have enough withdrawal limit up to 1 BTC per week (≈42000$).
- Commission for deposits with tokens: none.
- Trading pairs with Cryptounit blockchain tokens: CRU, UNTB (coming soon).
- Trading pairs with popular tokens: there is a large list.
- Commission for the withdrawal of tokens: 1 CRU, 2 USDT BEP20, 1 USDT TRC20, 0.0005 BTC, 0.005 ETH, 0.001 BNB, 3 TRX…
Summary: At the moment, this method stands out with a convenient opportunity to buy/sell CRU tokens, has low commissions and a wide choice for trading various cryptocurrencies. But, at the moment, this exchange does not provide an opportunity to deposit/withdraw fiat funds. The best way to deposit/withdraw seems to be the use of the USDT TRC20 token — this is a widely used USDT stablecoin issued on the Tron blockchain, low commissions for withdrawing from the exchange and low commissions for transferring tokens from your crypto wallet.
2) Buy, sell CRU on the UnitEx exchange
Licensed cryptocurrency exchange UnitEx is a global platform for fast trading and storage of digital assets. The UnitEx Exchange is included in the “Global Investment Portfolio CryptoUnit” as one of the existing businesses.
- Register on the UnitEx exchange.
- Trading pair: CRU/USDU.
- User verification: is mandatory.
- Commission for deposits with tokens: none.
- Commission for deposits with fiat funds: 7% (with bank card), 1.5% (with Global Unit Pay).
- Trading pairs with Cryptounit blockchain tokens: CRU, UNTB, USDU.
- Trading pairs with popular tokens: BTC, ETH, USDT, USDC, BNB, XRP, DOGE, MATIC, DAI, LTC, LINK, UNI, TRX, EOS, WAX.
- Commission for the withdrawal of tokens: 1 CRU, 1 USDU, 10 UNTB, 50 USDT ERC20, 0.0005 BTC, 0.015 ETH, 0.035 BNB, 10 TRX…
- Commission for the withdrawal of fiat funds: 3.5% (to Global Unit Pay).
Summary: CRU token trading on this exchange is only paired with USDU, this can sometimes be inconvenient, because it will require to make an additional trading operation to exchange USDU tokens. On the exchange, it is possible to exchange for popular cryptocurrency tokens (BTC, ETH, etc.), but due to low liquidity, the exchange rate may turn out to be much less profitable. There is no possibility to withdraw USDT TRC20 on this exchange, and using other popular tokens for withdrawal, you will have to pay a large commission. For more information on how to register and work with the UnitEx exchange, read this manual.
3) Buy, sell CRU in Global Unit Pay wallet
The Global Unit Pay account allows you to exchange and transfer fiat funds ($, €, Fr), store, buy and sell cryptocurrencies and also get easy access to your funds using Global Unit Pay Mastercard physical and virtual cards. The Global Unit Pay is included in the “Global Investment Portfolio CryptoUnit” as one of the existing businesses.
- Register in the Global Unit Pay payment system.
- Trading pair: CRU/USDU.
- User verification: to work with digital assets up to 1000 CHF, it is enough to pass a simplified verification.
- Commission for deposits with tokens: 0 CRU, 0 USDU, 0 UNTB, 0.0075 ETH, 0.0005 BTC, 0.0075 ETH, 35 USDT ERC20, 35 USDC ERC20.
- Commission for deposits with fiat funds: 5.45% (with bank card), from $45 (SWIFT), from €25 (SEPA).
- Trading pairs with Cryptounit blockchain tokens: CRU, UNTB, USDU.
- Trading pairs with popular tokens: BTC, ETH, USDT, USDC.
- Commission for the withdrawal of tokens: 1 CRU, 1 USDU, 10 UNTB, 50 USDT ERC20, 50 USDC ERC20, 0.001 BTC, 0.015 ETH.
- Commission for the withdrawal of fiat funds: 0% (to Global Unit Pay), from $30 (SWIFT), 1.5% (to virtual or plastic card Global Unit Pay).
Summary: The Global Unit Pay payment system interacts with the UnitEx exchange, allowing users to exchange cryptocurrencies from their GUP account. The exchange of the CRU token is only paired with USDU, this can sometimes be inconvenient, because it will require to make an additional trading operation to exchange USDU tokens. There is now a small selection of popular cryptocurrency tokens in the account, there is no possibility of withdrawing USDT TRC20, and using other popular tokens for withdrawal, you will have to pay a large commission. After passing the verification, you can deposit/withdraw fiat funds and also order Global Unit Pay Mastercard physical and virtual cards.
4) Buy, sell CRU from other token holders
Defrosted CRU tokens can be freely transferred between wallets of Cryptounit blockchain users (P2P). The CryptoUnit project has a large community and you can find someone who wants to make an exchange of tokens with you on convenient terms.
Summary: There are various specialized chats for such an exchange, but there is a chance of falling for a scammer, so you should carefully choose who you are going to make a deal with. To reduce the risks in a P2P exchange, use a guarantor — a person you trust who will act as a third party and to whom you will transfer money or tokens for exchange.
