There are different types of cryptocurrencies in the market. For example, Bitcoin (BTC) is used for decentralized money transactions and serves as a store of value. Ethereum, on the other hand, focuses on developing decentralized applications or dApps. Other tokens like Shiba Inu fall into the category of meme coins.
Some cryptocurrencies also facilitate the operation of centralized exchange platforms, also known as CEX. For instance, the crypto Cronos (CRO), formerly known as Crypto.com, falls into this category. This cryptocurrency is issued by the Crypto.com exchange. Below, you’ll find information about Cronos and some of its exchange features.
What is Cronos?
Cronos is the name of the blockchain, and its associated coin symbol is CRO. Cronos is the native cryptocurrency that powers the Crypto.com centralized exchange. The coin was officially launched in November 2018. Most centralized exchanges have their own blockchain and native coin. For example, Binance is a competitor of Crypto.com, and its native platform coin is called BNB. By acquiring a platform’s native coin, users can access various benefits and discounts.
Crypto.com is a significant global player in the cryptocurrency exchange market. Their slogan is “Cryptocurrency in Every Wallet.” You can see the current price of Cronos at the top of this page.
Crypto.com and Cronos
At the end of 2022, Crypto.com announced Paris as the location for its European headquarters. While still trailing behind giants like Binance or Coinbase, the platform enjoys substantial visibility. Crypto.com is heavily involved in the sports industry, having its name featured on Formula 1 circuits. Even more impressively, the exchange secured the rebranding of the basketball arena for the famous Lakers and Clippers as “Crypto.com Arena.” In terms of marketing, the platform even featured actor Matt Damon in its 2021 advertisements.
As of the time of writing, the price of CRO is 0.04905 USD. Cronos has a market capitalization of €1.265 billion. In the rankings,, Cronos falls between cryptocurrencies like Internet Computer (ICP), Algorand (ALGO), ApeCoin (APE), VeChain (VET), and NEAR Protocol (NEAR).
Cronos cryptocurrency is associated with the Crypto.com exchange. This platform was launched in June 2016, with the Cronos founder, or founders, being:
Kris Marszalek, current CEO of Crypto.com
Rafael Melo, current CFO of Crypto.com
Bobby Bao, current Head of Capital at Crypto.com
Cronos was not always known by this name. Initially, the coin was named Crypto.com, after the cryptocurrency exchange. On February 18, 2022, the exchange announced the name change, with the coin adopting the name “Cronos.” For the exchange, this new name reflects “the decentralization of money and the incredible growth of the ecosystem.” For enthusiasts of Greek mythology, you may know that Cronos is the son of Ouranos (god of the starry sky) and Gaia (goddess of the Earth). More notably, Cronos is the king of the Titans, the giants who preceded the Olympian gods.
Like many cryptocurrencies, the CRO coin saw significant growth in 2021. The all-time high price for Cronos cryptocurrency was €0.87 on November 24, 2021. However, in 2022, the bear market had its impact, leading the platform to scale down its marketing efforts and reduce its workforce by 20%.
Why Was Cronos Created?
While it’s not mandatory to purchase CRO cryptocurrency to use Crypto.com’s services, it is recommended since it provides access to exclusive benefits on the platform, such as:
Paying reduced transaction fees directly in CRO.
Enjoying reduced trading fees.
Receiving cashback on purchases with the Metal Visa Card (a debit card that converts your cryptocurrencies into fiat currency for everyday transactions).
Like other cryptocurrencies, CRO can also serve as a store of value. The coin is backed by a globally recognized cryptocurrency exchange ecosystem. Therefore, the success of the platform directly influences the price of CRO.
How Does Cronos Work?
The Cronos crypto operates on its own blockchain, which processes transactions for users of the platform. Here are some key characteristics of the Cronos blockchain:
A Layer 1 blockchain within the Cosmos ecosystem
As you may know, there are different levels (or layers) of blockchains in the market. For Cronos, it is a Layer 1 blockchain. What’s unique is that this blockchain was built within the Cosmos ecosystem. Cosmos is a Layer 0 blockchain, and all blockchains built on Cosmos are interoperable. This means Cronos can work with other blockchains within the Cosmos ecosystem, such as BNB Chain and Akash. For more information on the Cosmos blockchain, you can refer to our guide on the Cosmos cryptocurrency (ATOM).
Compatibility with Ethereum
In addition to its compatibility with Layer 1 chains within the Cosmos ecosystem, Cronos is also compatible with Ethereum. While Ethereum is not part of the Cosmos ecosystem, Cronos is compatible with the Ethereum Virtual Machine (EVM). This means that developers coding in Solidity, the language of Ethereum, can deploy their applications on the Cronos blockchain. This is a significant advantage, considering Ethereum’s prominence in the world of decentralized applications (dApps).
An ecosystem of decentralized applications (dApps)
Similar to Ethereum, the Cronos blockchain can host decentralized applications. The blockchain hosts applications related to gaming, decentralized finance (DeFi), the metaverse, NFTs, and more. According to data from DappRadar, the main applications on the Cronos blockchain in terms of transaction volume include VVS Finance, Tectonic, Mimas Finance, MM Finance, Ferro Protocol, and EmpireDEX.
Proof-Of-Authority (POA) as a consensus algorithm
The Cronos blockchain uses the Proof-Of-Authority (POA) consensus protocol. The major difference from the Proof-of-Work (POW) model used by Bitcoin, for example, lies in the choice of validators. On the Cronos blockchain, miners are not in competition, which reduces energy consumption by 90%. Compared to a Proof-of-Stake (POS) model used by Ethereum, the selection of validators with POA is not based on the amount of coins staked (Cronos staking). With a POA protocol, validators are chosen based on their reputation.
Where to Buy Cronos?
If you’re looking to acquire CRO coins, there are two primary methods. Firstly, CRO has the advantage of being mineable. What’s more, mining Cronos cryptocurrency is more accessible than, for instance, Bitcoin. Mining Cronos allows you to earn coins and generate passive income. However, mining is an activity best suited for those well-versed in the cryptocurrency domain.
The easiest way to purchase CRO cryptocurrency is by using the services of a cryptocurrency platform or exchange. As mentioned earlier, CRO cryptocurrency ranks among the top 50 in terms of market capitalization. This is advantageous because it means that most platforms have listed this cryptocurrency. So, which platform should you use to buy Cronos cryptocurrency?We recommend three specific platforms that you can use. These three exchanges are reputable and well-established, which is crucial in the cryptocurrency space, which is still evolving and demands a high level of security. The following three exchanges offer the option to buy Cronos cryptocurrencies:
Crypto.com – As expected, the platform offers its own crypto, Cronos.
Coinbase – Alongside Binance, Coinbase is the world’s largest exchange.
KuCoin – This platform brings together more than 10 million users worldwide and offers hundreds of cryptocurrencies for trading.
As mentioned, these three exchanges are significant and reputable players in the trading market. In other words, these platforms are not scams. Furthermore, since they have international visibility, their interfaces are well-crafted and user-friendly.
So, which platform should you choose to buy Cronos cryptocurrency? The most logical choice is to use the services of the Crypto.com exchange. Since it is the native crypto of this exchange, it offers exclusive advantages.
Cronos Fear and Greed Index
Updated:: 25 February 2024
Now: 78 Extreme Greed
Now: 78 Extreme Greed
Yesterday: 78 Extreme Greed
Last Week: 70 Greed
Is Cronos a Good Investment?
If you’re asking the question ‘Will Cronos go up?’, the first thing to remember is that Cronos crypto serves a genuine purpose. It was developed to facilitate the operation of the Crypto.com cryptocurrency exchange. Since the platform is one of the largest cryptocurrency exchanges globally, Cronos cryptocurrency is significant and Cronos’ future is bright.
The price of Cronos has the potential to increase significantly based on the cryptocurrency landscape and the success of the Crypto.com platform.
Additionally, the Cronos blockchain boasts strategic advantages. In particular, its dual compatibility with the Cosmos ecosystem and Ethereum makes Cronos a highly-regarded blockchain among decentralized application developers.
Pros and Cons of Investing in Cronos Cryptocurrency:
A cryptocurrency with a genuine purpose.
Present on many exchanges.
A blockchain with dual compatibility (Cosmos & Ethereum).
Price varies based on the success of the Crypto.com platform.
A blockchain that uses the energy-efficient POA protocol.
The exchange is still lagging behind giants like Binance and Coinbase that dominate the centralized exchange (CEX) market.
The price depends significantly on the future of CEXs in the face of growing competition from decentralized exchanges (DEXs).
Our Final Take on Cronos Crypto
Cronos cryptocurrency has established itself in the top 50 globally in terms of market capitalization. The cryptocurrency offers several significant advantages, making it a coin with strong potential. Notably, it plays a crucial role in the operation of a globally recognized cryptocurrency exchange. While the exchange may not be able to compete with Binance or Coinbase, its aggressive marketing strategy has brought it considerable attention. Moreover, the exchange successfully weathered the bear market of 2022, a period that saw many platforms vanish. Consequently, Crypto.com is a serious player in the cryptocurrency trading space and our Cronos prediction is certainly positive – Cronos is one to watch in the future.
In addition to the exchange, the blockchain possesses notable features, enhancing the appeal of Cronos cryptocurrency. It was built within the rapidly growing Cosmos ecosystem, making it compatible with numerous other blockchains. Furthermore, Cronos is also compatible with the Ethereum Virtual Machine (EVM), a significant advantage for the development of decentralized applications (dApps). Lastly, the blockchain employs an energy-efficient Proof-of-Authority (POA) consensus protocol, which is a strategic advantage, especially considering current environmental concerns.
What is Cronos Coin?
Cronos is the name of the blockchain utilized by the Crypto.com cryptocurrency exchange. Cronos Coin (CRO) is the native coin of this blockchain.
Is Cronos a Good Investment?
Cronos value is high and the cryptocurrency holds significant potential due to the popularity of its exchange and the technology behind its blockchain.
Is Cronos Compatible with Ethereum?
Yes, Cronos is compatible with the Ethereum Virtual Machine (EVM).
Is Cronos a Stablecoin?
No, Cronos is not a stablecoin. Its price fluctuates based on the law of supply and demand. However, the Tokize Cronos forecast is definitely bright.
How Many CRO Coins Are in Circulation?
Currently, there are 25 billion CRO coins in circulation out of a total supply of 30 billion.
A writer from the north of England, I've been fascinated by all things cryptocurrency since the early days of Bitcoin. I've written countless articles in the crypto space over the years, contributing to various websites in the process. I'm always reading and forever following the trends and expanding my knowledge so that I always have more to share!