May 26, 2020
What Is Crypto.com and How to Buy CRO?
By SwapSpace on The Capital
What is Crypto.com?
This project’s history traces back to 2016 when a Hong Kong development team founded the Monaco project. Their work was very productive, and the platform managed to win many fans as well as attract large investors and get the support of such a banking giant as Visa, whose participation in the project already says a lot. After several years of collaboration, they were able to issue a special payment card for operations with cryptocurrencies called the Monaco Visa Card. At its core, there is a real bank card with all the features of a Visa payment system. In order to be able to make conversions of digital money (for example, Bitcoin or Ethereum) and pay for various commissions, its own cryptocurrency, called MCO, was released. In 2018, the team decided to change the domain to crypto.com. At the same time, the entire project was rebranded, and a similar name was given to their altcoin.
Representatives of the crypto community have long claimed that their main goal is to rid the society of fiat money, transfer all types of financial transactions into electronic format, and integrate modern digital technologies into people’s daily lives. It is a relatively new project that aims to work with private individuals (ordinary users) as well as cooperation with independent investors. According to the developers of the Crypto.com project, their main goal is to introduce blockchain-based technologies in people’s daily lives to make it more comfortable and simplify complex operations.
How Crypto.com works
It is worth mentioning that the Crypto.com project has a special wallet that is designed to sell or store digital currency. Thanks to cooperation with top financial companies, the project managed to achieve support for the wallet with both fiat money and cryptocurrency, without collecting an extra fee. The Crypto.com application has functions that allow you to track the current rate of popular cryptocurrencies and monitor the current position of the cryptocurrency market. Thanks to cooperation with Visa, you can deposit and withdraw fiat funds from the wallet through the application.
We should not forget about the cashback function, because when making purchases in stores of the affiliate network, the user receives up to two percent of the refund directly to his card even though CRO tokens are a digital currency.
The CRO development team claims that users will receive many useful features and capabilities, including advantageous offers that will encourage users to turn to the digital currency, and the complete absence of all fees for those sellers who will use the Crypto.com network. Other bonuses include a multifunctional wallet and convenient application with a simple and comfortable interface, and many useful features in the application in addition to operations with digital and fiat currency.
Advantages and disadvantages of CRO
+ In CRO’s case, the development team has thought through everything to the smallest detail. If a user makes a purchase in one of the partner stores of the project, the system operates as follows. He installs the Crypto.com application and opens his wallet. To make a purchase, the user or a seller of the store must scan a special QR code. After that, the customer pays for the goods in digital currency and transfers the coins to the store’s account and it receives the tokens. It’s worth drawing attention to the planned future cooperation with other types of cryptocurrencies. If the project succeeds, it can significantly expand its functionality and attract new users.
- Even though developers declare the existence of a decentralized network, this is unlikely, especially when you consider their collaboration with Visa. It’s difficult to talk about full decentralization because Visa is one of the largest payment systems and this aspect raises some questions. However, for many users, the decentralization of the project is not so important, especially considering all the possibilities that the platform can provide.
Where to buy and store CRO
CRO can be exchanged on such platforms as BitMart, CoinTiger, OKEx, DigiFinex, Bithumb Global, Bittrex, HitBTC, Huobi Global, ProBit Exchange, Bibox. The greatest part of trading happens within CRO pairs with ETH, USDT, and BTC. Other major tradings include KRW, IDR, HT, and QC. CRO can be stored at Crypto.com wallet, Lumi Crypto.com Coin wallet, or any wallet that supports ERC-20 tokens like Trezor.
How to exchange CRO on SwapSpace?
- On SwapSpace homepage, select CRO in “You send” section and the cryptocurrency you would like to receive in “You get” section. Enter the amount of CRO you want to exchange.
- Choose the instant exchange service that suits you most.
- Specify the recipient address and check if all the data is correct.
- Send your CRO coins to the address you will see on the screen.
- Wait until the exchange is complete.
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Originally published at https://swapspace.co.
