Crypto.com Chain Facilitates Currency Exchanges
The Crypto.com Chain price flew away in March 2019, hoisting virtual currency into the top 20 cryptocurrencies. Founded by Kris Marszalek, virtual currency Crypto.com Chain is one of the most promising currencies of the moment. If you want to invest in this currency, find all the information you need in the following paragraphs.
Presentation of cryptocurrency
Crypto.com Chain or CRO is a virtual currency that is getting a lot of attention right now. Discover its course and its history in this first part.
What is Crypto.com Chain?
Crypto.com Chain is a cryptocurrency token issued on the Ethereum platform. The Crypto.com Chain course is up to 0.046257 €. It has a 24-hour trading volume of approximately $ 500,000. Its price has suffered a decline of -6.9% in recent times.
Virtual currency has a circulation supply of 5.24 billion units, while its maximum supply is 100 billion units. It trades very strongly on the HitBTC trading platform. CRO tokens are also in high demand on other trading platforms like Binance.
The rise of the CRO token
In March 2019, the CRO token undergoes a considerable increase of 400%. The Crypto.com Chain price went from 0.01 dollar to 0.06 dollar in just 3 days. Daily volume has grown from $ 90,000 to over $ 800 million!
The excitement of CRO tokens is mainly concentrated in South Korea. This notable increase in Crypto.com Chain price has generated more than $ 200 million in market capitalization. This increase allows the virtual currency to hold the comparison against VeChain.
The Crypto.com Chain platform
Remember that this electronic money comes from Hong Kong. It is a pioneering payment platform. Its goal is to promote the adoption of crypto through various payment channels, including Visa cards. The platform does not involve any fees or surcharges as part of a transfer.
The company behind the digital currency has launched its Vortex trading engine. The platform allows exchanges between cryptocurrencies and fiduciary currencies (which are located in Asia). The company has developed a crypto wallet with a cash back function. The wallet is accompanied by a Visa card powered by the MCO token.
Distribution of CRO tokens
Crypto.com Chain consists of an ERC-20 currency. The launch of CRO tokens did not lead to a presale or an ICO (Initial Coin Offering), unlike other cryptocurrencies. During its launch, the team only issued 4% of the CRO tokens in circulation from an application called Protocol Labs.
Among the 100 billion tokens to be issued, the market still has only 4 billion. The Crypto.com Chain price is fairly stable and its market capitalization is around half a billion. Although broadcast on the Ethereum platform, CRO now has its own blockchain.
How does cryptocurrency work?
To better understand its objectives, it is necessary to study how this virtual currency works. Here are some explanations.
The semi-centralized blockchain contains advice nodes, merchant nodes and money nodes as well as settlement agents. These settlement agents handle currency conversions from the CRO to other cryptocurrencies.
Transaction information is recorded in chain, while settlement is made out of chain. The conversion is also carried out off-chain. The mode of operation of the CRO blockchain is listed in its white paper dated December 5, 2018.
Visa MCO card
The Visa MCO card consists of a card offered by the Crypto.com Chain platform in collaboration with Metropolitan Commercial Bank (MCB). It allows cryptocurrencies to be used anywhere, whether on the Internet or in physical businesses. This famous card has already been distributed on the Asian continent, especially in Singapore. The platform is already planning to distribute these cards across the United States.
These prepaid cards include several features and benefits, including: no monthly or annual fees for withdrawals and transactions. This privilege is nevertheless subject to certain conditions. To easily manage the MCO user account, you must have a Crypto.com Chain wallet.
The pros and cons of this cryptocurrency
The services offered by crypto.com Chain raise advantages and disadvantages, here are which.
The Crypto.com Chain platform offers a free payment service for merchants as long as the currency is in crypto. This offer does not involve any processing fees. In addition to being a secure and reliable payment system, the platform is accessible to all budgets.
It is very tempting to choose this cryptocurrency in view of this advantage. However, some projects mentioned in the white paper of December 5, 2018 have still not been undertaken, in particular on the blockchain. This delay calls into question the seriousness of the platform.
How to buy this cryptocurrency?
The procedures for buying CRO are divided into 3 stages: setting up Coinbase, buying cryptocurrencies and trading with Crypto.com Chain. Find out more in these paragraphs.
The Coinbase configuration
Coinbase has the advantage of being compatible with iPhone and Android. To start setting up, go to its official website. Create your account by choosing the account intended for the individual. Enter your name and your email address. The latter will be confirmed by a validation e-mail from Coinbase.
To ensure the security of your account, integrate your phone number. Then configure your funding source. You have an alternative between your credit card or your bank account.
The second step is to buy Bitcoin or Ethereum. Go to your BUYS pages and choose the currency to buy. Establish the amount to invest. Note that the value is expressed in dollars.
Select your funding source and choose Buy. Please note that purchasing by credit card involves fees of up to 3.99% of the total amount. However, Coinbase notifies all users of this charge before confirming the purchase.
The exchange with CRO
The final step is to exchange these electronic currencies into the Crypto.com Chain. To do this, you must transfer your BTC or ETH to another exchange, because this operation is impossible with Coinbase. To ensure the transfer, you must have a trading account.
It only takes a few minutes to create a trading account on one of the Crypto.com Chain exchanges. After this operation, transfer your BTC or ETH and carry out the exchange with CRO. The Crypto.com Chain price has great stability. Also, an investment in the CRO can be profitable in the short and long term.