Within the latest emergence of cryptocurrencies, there have been a lot more confusion on which is considered the best coin to invest in. Among the many altcoins that have come into recognition is the Crypto.com coin, better known as CRO.
Crypto.com is a cryptocurrency exchange platform that was originally founded in the year 2016 and was first recognized as Monaco Technologies. In the year of 2018, Monaco Technologies rebranded itself as Crypto.com. However, their main vision has always been the same; to globalize the use of blockchain, and to “bring cryptocurrency to every wallet.” As of December 2021, it is the second most used cryptocurrency exchange after Binance.
The Technology behind the Crypto.com Coin
Crypto.com is mainly acknowledged for the exchange services carried out on its application, the Crypto.com DeFi wallet, and the Crypto.com Visa Card. Many people seem to forget that Crypto.com also has its very own Ethereum-based crypto token, CRO (Crypto.com coin).
The Crypto.com Chain is an open-source, permissionless blockchain which carries out transactions in a decentralized manner. That ensures you have complete control over your crypto assets, without the intervention of third parties. At the same time, your identity will also be protected. A huge role in the Chain protocol infrastructure is the Tendermint’s BFT consensus method. Tendermint is a software which is specifically designed to be fault tolerant. The use of the Tendermint software is part of the reason why the Chain protocol has been a success as of this far. It allows users the ability to carry out transactions in a safely manner with no interruptions. It also guarantees the platform to be resilient and permissionless, while processing transactions in higher speeds with minimal costs.
The main issue the crypto marketplace struggles with is scalability. Crypto.com Chain aims to provide a scalable protocol by ensuring immediate payment confirmations within one second after the transaction is completed. The platform’s main target is to eventually support 50,000 transactions per second.
What’s Unique about the Crypto.com Coin?
Crypto.com provides its users the ability to stake the Crypto.com coin with a lock-up period of 6 months. Users can earn up to 12% APY on their staked CRO. Subsequently, Crypto.com will reimburse its users with higher interests when a certain amount of CRO has been staked.
The Crypto.com coin acts as an intermediary currency. Meaning, it allows the conversion of cryptocurrencies into fiat currencies, at lower exchange rates. That in return increases the use of cryptocurrencies to pay for online purchases. Both of these bring in incentives in holding CRO especially for those who use Crypto.com wallets even though their main investments lie in other cryptocurrencies.
Crypto.com has a supply of a 100 billion of its Crypto.com coin, sixty percent of this coin supply has been frozen with the intent that it will ensure the platform’s long-term viability. The CRO coins are divided into 5 secure multi-sig wallets. The allocation of these coins have been determined by each wallet’s specific purpose; for example:
- Launch Incentives: 30%
- Network long-term incentives: 20%
- Capital reserve: 20%
- Ecosystem reserve: 20%
- Community development: 10%
Crypto.com Coin Price History
We all know how much fluctuation cryptocurrencies endure on the daily. Therefore, it’s considered best to always be on the lookout for trends going down the marketplace. The Crypto.com coin was first launched as Monaco coin (MCO) in the year of 2016. The founders at Crypto.com then gradually transitioned from MCO to CRO.
In January 2nd of the year 2019 the Crypto.com coin was valued around $0.0215 USD. For the entirety of the year of 2019, CRO didn’t surpass the $0.1 dollar value. However, it did reach the $0.1 USD mark on the date of June 7th, 2020.
The starting value of the Crypto.com coin in the beginning of the year 2021 was set at $0.056 USD. Within the 6 months leading up to the year 2021, CRO has recorded a percentage loss of -44%. However later on in the year, the Crypto.com coin scored its all time high price of $0.52 USD.
Crypto.com Coin Prediction 2022 – Will CRO price reach $1?
Because the Crypto.com coin is based on a very popular crypto exchange platform, its price is heavily related to how successful Crpyto.com markets itself to users. As number of Crypto.com users increase, the price of CRO is deemed to move in the same direction as this particular exchange has proved to be very successful at pushing its native coin to to its users. As of December 2021, it has around 10 million users globally and this number is increasing by the day thanks to Crypto.com’s new marketing campaign featuring Matt Damon.
In today’s marketplace, the Crypto.com coin is valued at around $0.60 US dollars. With the year of 2022 almost knocking on our doors, CRO is expected to have an average value of $0.70 USD by the first month. The minimum price CRO is expected to reach is $0.55 USD, while the maximum price it’s expected to reach is $0.70 USD for the month of January, 2022.
By the end of the year of 2022, the Crypto.com coin is expected to reach the minimum value of $0.70, and the maximum value of $1. With the average being valued at $0.80. It is expected that there will be an increase of 40% in CRO’s percentage return from 2021 to 2022.
Tyler Winklevoss, founder of Winklevoss Capital Management has said, “We have put our money and faith in a mathematical framework that is free of politics and human error.”
Although he spoke nothing but the truth, be aware that when investing in cryptocurrencies there will not be an entity available of protecting your assets if ever exposed to malicious intent.
Moreover, the Crypto.com coin may seem to have a promising future. However, keep in mind that the crypto marketplace endures instability on the daily and is easily manipulated. Always be cautious of all sorts of cryptocurrency trends going on in the marketplace and do your own thorough research before investing in the desired cryptocurrency.
Sally is a student of International Business Management and is interested in topics related to blockchain technology. She is an author for gBlogo’s “Crypto World” column and provides insight on topics related to cryptocurrencies and NFTs.