Easy way to Buy Cronos(CRO) Online with Wigwam crypto app

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:

1. Gas token, all transaction fees on Cronos are paid in CRO
2. Users may delegate CRO to trusted validators on Cronos and earn staking rewards for network protection.
3. 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. 
4. 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:

1. 30%: Secondary distribution and launch incentives, released in batches over five years
2. 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.