A look at the pros and cons of the Crypto.com Coin (CRO).
While most pros and cons lists you’ll find online focus on the Crypto.com centralised exchange, we wanted to focus on the CRO cryptocurrency itself.
This section of our Crypto.com Coin (CRO) guide will consider the benefits and drawbacks of using CRO within the exchange and on the Cronos blockchain.
So before you make a final decision on whether to buy Crypto.com Coin (CRO) to possibly get involved in some of the DeFi dApps on Cronos, let’s get into a look at some of the pros and cons.
Crypto.com Coin (CRO) pros
A look at the pros of Crypto.com Coin.
Staking bonuses from the Crypto.com exchange:
What’s the point of being a CEX branded coin if you don’t get any benefits?One major pro of hodling CRO is that Crypto.com account holders with significant holdings will receive discounts on their trading fees.
As well as discounts on fees, CRO hodlers will also receive other extras such as priority customer service and the ability to trade OTC.
Ultimately, the more Crypto.com coin (CRO) you're able to stake, the more benefits you'll get from the exchange.
Access a higher-tier crypto Visa card:
This is another staking related pro for CRO hodlers.By staking CRO, clients of the Crypto.com exchange are able to access higher card tiers on their branded Visa card.
Higher card tiers have better benefits and features such as lower fees and the prospect of rewards.
Once again, the benefits all come from the connection with the exchange for staked CRO.
Crypto.com (CRO) cons
A look at the cons of Crypto.com Coin.
Staking bonuses work both ways:
On the other hand requiring a huge buy in of the exchange’s native coin can also leave a somewhat sour taste in the mouth of clients.Isn’t the exchange meant to be doing you a service regardless of how rich you are?
We definitely see this as being an issue in an industry where fairness and corporate gouging from centralised exchanges, isn’t exactly looked upon favourably.
Cronos’ CRO fees are relatively expensive:
The minimum gwei on Cronos is usually 5000.When you compare this to its main rival in the Binance Smart Chain, even at the current price of both, this is extremely expensive.
Then what happens if the price of CRO catches up to the price of BNB?
Sure it’s cheaper than Ethereum itself, but this is likely going to put a huge ceiling on the CRO price.
Do the CRO pros outweigh the cons?
Did you notice that none of the pros actually talk about CRO or the Cronos blockchain doing anything groundbreaking?
All of its benefits stem directly from the centralised Crypto.com exchange’s brand name and current industry standing.
CRO just doesn’t do anything new and exciting, or solve problems that other coins don’t already do better.
As a reward token for a centralised exchange, we question why it even needs to be a cryptocurrency and not just points in a database?
Then as a utility token for yet another EVM blockchain, what does it actually offer?
Not to mention the fact that CRO is actually looking like facing the same scaling issues that plague ETH and that will end up facing BNB as the BSC network continues to expand.
But in the modern crypto landscape, does efficiency and use-case really matter?
Dogecoin and Shiba Inu are both top 20 cryptocurrencies after all...
You definitely shouldn’t underestimate the Crypto.com brand name and the immense money behind the company thanks to the success of their centralised exchange business.
Just like we see with Binance and BSC, Crypto.com is going to pump a ton of time and money into Cronos.
As a result, the pros may not outweigh the cons, but there’s no doubting that CRO still has a ton of room to grow.
Best of probabilities to you.
Direct from the desk of Dane Williams.
Why not leave a comment on the Crypto.com Coin (CRO) pros and cons. All comments that add something to the discussion will be upvoted.
This Crypto.com Coin (CRO) blog is exclusive to leofinance.io.