Introduction
CRO is the native utility token of the Crypto.com ecosystem. In this subsection of the Leo Finance Crypto.com Coin Guide let's give a brief but comprehensive look at just what utility the CRO token exhibits. In proceeding with this examination we will follow the format utilized in the official documentation of Crypto.com.
Payments
- Chain participants utilizing its services must use the CRO token to pay for any associated block transaction fees.
- The CRO token must be staked by Validators to enable them to receive fees for their services rendered to the network.
- CRO tokens are awarded to Validators as a reward for processing and verifying network transactions.
- By using the platform a user may earn up to 20% cashback in CRO tokens for all purchases by paying the merchant either online or off.
- By using the platform a user may earn up to 10% cashback for purchases of various major brand gift cards in CRO tokens.
- By using the platform a user may earn up to 10% cashback on Person-to-Person transfers of funds in CRO tokens.
Finance
- Holders of CRO tokens may stake said tokens with Crypto Earn yielding an 18% p.a.
- By using CRO tokens, users may unlock decentralized finance features in the ecosystem's non-custodial wallet application.
Trading
- The CRO token may be utilized as an intermediary currency permitting the conversion of various cryptocurrencies into fiat at reduced costs.
- When staking CRO tokens or using CRO tokens for paying on the platform's Exchange, users are rewarded with discounted trading fees in varying amounts dependent upon the degree staked/used.
- By staking or using CRO tokens on the platform, users receive a prioritized discounted token allocation when new coins are offered on The Syndicate fundraising platform.
For Informational Purposes: Crypto.com (CRO) Tokenomics:
Per CoinMarketCap, at the time of the writing of this article (December 24, 2021 at 17:50 EDT) there is a circulating supply of 25.26B CRO. With the current price of $0.6289 the market capitalization of Crypto.com (CRO) is $15,887,466,410. There is a total supply of 30,263,013,692 coins authorized yielding a fully diluted market capitalization of $19,012,419,552. Presently, Crypto.com (CRO) is ranked No. 15 by CoinMarketCap.
Some final thoughts on the utility of the Crypto.com (CRO) token
As demonstrated above, the CRO token has significant utility within the Crypto.com ecosystem. However, a few words of caution must be conveyed:
- To take advantage of the various discounts and rewards on Crypto.com, a large number of tokens must be staked.
- Please check the official documentation for the platform as various rewards and discounts are degree ranked dependent upon the number of tokens staked.
In conclusion, it is up to you the potential user of Crypto.com and the CRO token to weigh the utility of the token against the opportunity cost of using it to assess whether or not it is suitable for your needs.