How to buy and hold CRO with Wigwam
1. Choose a token number that you want to buy
2. Create a wallet, where to store your crypto
3. Pay with credit card
4. Check your crypto in the created wallet
Why Wigwam is the best crypto wallet for Cronos (CRO) storage
Ultimate security, only you have access to your Cronos tokens
Send, Receive, Store your Cronos tokens free and without limitations
Check the real-time value of your crypto tokens
Buy, Sell, Exchange Cronos (CRO) directly in the wallet
Stake Cronos (CRO) by connecting Wigwam to the popular DeFi dApps
No KYC or personal data collected
Cronos (CRO) Token Review
Cronos (CRO) is a native cryptocurrency and gas token of the Cronos blockchain. Also, it is used as the main payment token in the various Crypto.com projects.
About Cronos blockchain
In 2016, Kris Marzalek created a crypto payment company, Monaco, with the main idea to create and distribute debit cards that can be replenished with the aid of crypto. The year after, Monaco organized an ICO that collected 71392 ETH, with more than 10,000 ETH gathered in just 24 hours from the ICO launch. In 2018, the Monaco company was rebranded to Crypto.com, and in the same year, the first Visa debit cards were released. In July 2021, the team publicly announced a Cronos testnet that became a mainnet in November. Just in one year, the Cronos chain became one of the most popular EVM blockchains with more than 505K unique wallet addresses, 12 DeFi protocols, and a TVL of around 4.3B dollars.
At the moment, Cronos blockchain positioned itself as an open-source, decentralized platform that supports EVM-compatible smart contracts and can be used for crypto payments and dApps development.
CRO Token overview
CRO was created as an ERC-20 token on the Ethereum network, but after it was transferred to Cronos, it was used as:
- Gas token, all transaction fees on Cronos are paid in CRO
- Users may delegate CRO to trusted validators on Cronos and earn staking rewards for network protection.
- Staking on Crypto.com, where users may get discounts and lower fees for using Crypto.com services and participation in closed investment programs. Also, CRO holders may obtain a physical Visa card with up to 8% cashback rewards.
- It can be used as a primary token for staking in various DeFi projects on the Cronos blockchain.
CRO staking on Cronos
CRO staking can be conducted via the Crypto.org DeFi wallet, the Crypto.com app, or exchange. There is no minimum stake amount that is required from users, but unstaking initiates a 28-day unbound period in which it's impossible to withdraw your tokens, and at the same time, users don't receive any token rewards.
The current estimated reward rate for staking CRO is 7.47% and can be calculated here.
Should I buy CRO?
Buying any cryptocurrency requires careful consideration of various factors, including specifics of the tokens and Crypto.com perspectives, your financial situation, market conditions, what projects will be launched on Cronos, and how CRO will be used there. Also, it should be mentioned that the CRO team has reserves around 50% of the total token supply:
- 30%: Secondary distribution and launch incentives, released in batches over five years
- 20%: Capital reserve account
So, it is possible that their activities may have a considerable impact on a token price.
Everyone should remember that the cryptocurrency market is known for its volatility, so it's crucial to make an informed decision based on thorough research and personal financial circumstances. However, if you decide to buy CRO tokens, you may use the Wigwam crypto wallet as a convenient decentralized solution for buying and holding your tokens.
This article is for informational purposes only and should not be interpreted as financial or investment advice. The views expressed herein represent solely the opinion of the author and are not intended to provide specific trading or investment recommendations. We do not guarantee the accuracy, completeness, or reliability of the information contained in this article. The cryptocurrency market is known for its high volatility and unpredictable fluctuations. Investors, traders, and anyone engaging with cryptocurrency are advised to conduct thorough research, consider a variety of perspectives, and acquaint themselves with applicable local regulations prior to making any investment decisions.
You can purchase it on all popular CEX solutions or if you want to do it quicker and hold your tokens in the decentralized secure crypto wallet, we would recommend using the Wigwam web3 wallet. Add the wallet in your browser and buy any token just in minutes by using your credit card.
To store tokens, you need to choose the right network (Ethereum or Cronos) and send CRO to your wallet address or buy CRO directly in the wallet with the aid of a credit card. If you don't see tokens in your wallet, add tokens manually by using the CRO smart contract address: 0xa0b73e1ff0b80914ab6fe0444e65848c4c34450b
You may stake CRO by using official applications: DeFi Wallet, Crypto.org Wallet Client & Cronos Desktop Wallet or you may also stake CRO as a liquidity on different DeFI applications.
1. Tap [Earn] on the bottom navigation of your DeFi Wallet app
2. Tap [Start Earning] or [Earn More] to see the list of tokens supported for earning
3. Select CRO and enter the stake amount to see the projected annual earning based on the latest estimated annual reward %
4. Tap on the “To Validator” dropdown to choose another validator from our whitelisted validator list (we recommend not to stake to a validator with an existing voting power of >15%)
5. Review and confirm the staking by tapping [Confirm Stake]
6. Authorize the staking request with your passcode (and 2FA if enabled)
7. Wait for the on-chain confirmation of your staking request
8. Once confirmed, you will see the refreshed CRO staking assets on your DeFi Earn screen
No, but Cronos POS Chain charges network fees in CRO for all staking-related actions (e.g. stake, claim rewards, unstake). Hence, they advise you to only claim CRO rewards when you have earned enough to cover the network fee.