Update: December 01, 2021 – Crypto.com coin has experienced a tremendous increase in price recently. They are continuously expanding and creating new partnerships with various companies within the crypto sphere and outside. Its price might continue increasing in the short and long run.
Few cryptocurrencies have too much utility when it comes to various financial services. Crypto.com, one of the biggest cryptocurrency-based financial services companies in the market, aims to make cryptocurrency payments as accessible as possible. They aim to do this through their native token, CRO.
In this article, we are going to go through the fundamentals of Crypto.com Coin as an investment and also as a project that aims to make cryptocurrencies easily accessible. Let’s begin with background information on Crypto.com.
Crypto.com Coin (CRO) Fundamental Analysis
Crypto.com is a decentralized blockchain, with its main aim being to be the best crypto financial services company. It is open-source, and it fully allows users to have control over their assets. It is generally very secure, and it has become one of the biggest cryptocurrencies of recent years. Crypto.com also has a mobile app, Crypto.com Pay. This app allows users to easily access their assets and using CRO tokens, all the services can be completed through the app.
Crypto.com was founded in June of 2016 by Kris Marszalek, Rafael Melo, Gary Or, and Bobby Bao. Marszalek was previously involved in consumer electronics design and other IT-related projects. Melo is an expert in the financial sector, who was previously involved in securing millions of AUD for Asian companies. Or is a software engineer, who previously worked at Ensogo as a platform architect. He has a bachelor’s degree in engineering and computer science. Lastly, Bao is a businessman with experience in the M&A department of China Renaissance investment bank. It is safe to say that the founders of Crypto.com had enough expertise to launch one of the greatest projects in the cryptocurrency era.
How does Crypto.com Coin work?
As suggested, the primary purpose of the CRO blockchain is to make it easier for users to access trading, payments, or other financial services related to cryptocurrencies. The CRO blockchain uses a Proof-of-Stake (PoS) consensus mechanism. The network is secured through staking. Staking requires users to lock their coins temporarily so that transactions are processed. In return, validators are rewarded with additional CRO tokens as an incentive to keep staking.
Annual interest rates of staking in the Crypto.com Exchange or the metal Visa Card of Crypto.com are 10-12%, which might prove to be quite profitable for stakers. Moreover, CRO coins can also be used to handle fees within the Crypto.com Chain.
It is worth noting that CRO is built on top of the Ethereum blockchain. Because of this, the Ethash function is used to secure the network overall.
The Crypto.com Pay app promotes paying merchants in the app. To do this, the app offers 20% of the CRO coins used for paying the merchants. Moreover, if users purchase gift cards or make peer-to-peer transfers with one another, they get 10% of the CRO coins used. This has made the Crypto.com Pay application a community-friendly app.
Using such methods, Crypto.com has become one of the biggest cryptocurrency networks in recent years, as they always attempt to make all the services as accessible and profitable as possible.
Another feature that makes Crypto.com unique is that the team always strives to innovate new strategies and services within the CRO blockchain. Such innovations have largely increased the CRO community and have made CRO traders quite optimistic about the future.
Let’s look at the tokenomics of Crypto.com Coin.
The total supply is 30 billion CRO coins. The total supply was much larger, but 70 billion CRO were burned in 2021 alone. This supply makes CRO inflation-free. The circulating supply of Crypto.com Coin is 25.2 billion CRO (83%).
Here is how the supply of CRO coins is going to be allocated:
- 30% of the total supply is set to be released in a period of five years, starting from November 14 of 2018. This includes secondary distribution and launch incentives.
- 20% of the total supply is capital reserves, locked until November of 2022.
- Another 20% is frozen until November of 2022 as long-term incentives.
- An additional 20% is designated for grants within the CRO ecosystem, frozen until the launch of the Mainnet.
- Lastly, 10% to develop the community of Crypto.com Coin.
Let’s look at the price history of CRO.
Crypto.com Coin (CRO) Price Analysis
According to CoinMarketCap, CRO started its journey at $0.017 in December of 2018. The price increased in the following days up to $0.034, which was a 50% increase. The price declined after that close to the initial price.
In 2019, the price of CRO increased at larger rates, and it reached $0.10 for the first time in March of that year. The price declined after that, but it reached $0.10 once again in November.
After dropping back to $0.03, it started increasing once again in 2020. The price broke its all-time high set in the previous year and reached $0.18. It dropped back to $0.06 by the end of the year.
In 2021, CRO had yet another bullish run. The price reached its highest of all time in February of this year at $0.27. This price marked a 1400 increase from the initial price of CRO. Holders (HODLers) clearly benefitted largely from CRO’s price journey. Nonetheless, the price of CRO decreased in the following months, and it is at $0.16 at the time of writing this.
With this price and a circulating supply of 25.2 billion CRO, Crypto.com Coin has a market cap of $4.2 billion. This places Crypto.com Coin at number 34 in the crypto market rankings. The fully diluted market cap is around $5 billion.
Crypto.com Coin (CRO) Market Price Prediction
Crypto.com Coin has shown a lot of price potential when it comes to the long run. Many experts predict that its price can grow in the coming years.
To begin with, Wallet Investor suggests that its price can grow at large rates in the future. They predict that a 150% increase in the price is more than possible for CRO.
Furthermore, while many predict that the cycle might be over for this year, Wallet Investor suggests that people are still quite bullish for CRO, indicating that the price can keep increasing in the remaining months of this year.
Previsioni Bitcoin also forecasts that CRO can keep increasing in the remaining months of this year. They even predict that the all-time high might be broken in the coming months, as the price might end the year at $0.44. They even predict that the price can surpass $0.70 by May of 2022.
YouTuber The Nordic Moonshot predicts that CRO might soon hit $1 due to the many projects their team is involved in. As for the long run, he predicts that CRO can eventually reach $10 once Crypto.com is fully utilized.
Kahoobb, another analyst on YouTube, also predicts that by the end of this year, the price of CRO can surge upwards again and potentially break the all-time high. His prediction is also based on the fact that CRO is not fully utilized yet, and once it does, its price can go to the moon.
Crypto Academy Crypto.com Coin (CRO) Price Prediction
Plenty of factors give experts reasons to believe that CRO can grow at large rates in the coming years. First and foremost, the price of CRO is correlated with the use of Crypto.com. As the latter begins to have more volume, the price of CRO may also increase. Many believe CRO to be still at its early stages, similar to what BNB used to be a few years ago.
Next, the supply of CRO is limited, so its price is likely to be increased in the future as CRO becomes scarcer. Due to the many reasons pointing that Crypto.com Coin can further grow, we at Crypto Academy predict that the price of CRO can eventually hit $10.
Crypto.com Coin (CRO) Price Prediction For 2021
Many might argue that the bullish run of 2021 might be over. However, BTC is projected to have another breakout and potentially edge closer to $100,000 by the end of this year. If this happens, then it is likely that other cryptocurrencies might follow. CRO might reach close to $0.70.
Read More: Crypto.com Coin Price Prediction September 2021: CRO Finds Support At $0.15
Crypto.com Coin (CRO) Price Prediction For 2022
As for 2022, CRO might have a relatively stable year. However, by the end of the year, we might see CRO start increasing again and aim for $1.
Crypto.com Coin (CRO) Price Prediction For 2023
In the first quarter of 2023, we might see CRO attempt to go as high as $1.3. One of the many reasons might be the fact that by then cryptocurrencies might be more applied in the everyday world.
Crypto.com Coin (CRO) Price Prediction For 2024
By 2024, we might see Crypto.com grow even bigger as a medium for financial services. As it becomes more used, the price of CRO can increase as well. CRO might reach $2 by the end of the year.
Crypto.com Coin (CRO) Price Prediction For 2025
The BTC halving event of 2024 can start another bullish trend at the beginning of 2025, as seen from previous halving events. Because of that, we might see CRO aim for $7 in the longer run.
Crypto.com Coin (CRO) Price Prediction For 2026
By 2026, cryptocurrencies might have already replaced traditional paying methods as well as other financial services. Due to this, the total market cap could grow to tens of trillions of dollars. As for CRO, its price can eventually reach $10 in the long run.
How To Buy Crypto.com Coin (CRO)?
Below we will show you step by step how to buy the CRO coin;
Step 1: Create a crypto exchange account
The first thing you need to do in order to purchase CRO coins is to create an exchange account in one of the exchanges that support CRO. Some of them are Binance, OKEx, FTX, Huobi Global, etc. Then, you need to verify your account.
Step 2: Fund Your Account
Once you verify our account, you can fund your account by transferring assets from another wallet. If you do not have an existing wallet with cryptocurrencies, then you can buy directly CRO using a credit or debit card.
Step 3: Buy Crypto.com Coin
Once you fund your account, you can begin trading. Simply select CRO and the amount you want to purchase and click “BUY.”
How to Store Crypto.com Coin?
Once you purchase CRO tokens, you should put them in a safe crypto wallet, whether it is a hot (software) or a cold (hardware) wallet. The best hot wallets for CRO are Exodus, Coinomi, MetaMask, Trust Wallet, etc. The best cold wallets for CRO are Ledger and Trezor.
Related: Trezor vs Ledger – A Detailed Comparison Between the Two Hardware Wallets
Frequently Asked Questions
Is CRO a good investment?
CRO is generally considered a good investment because it can be used in the Crypto.com Pay application as well as bring profits through trading or staking them. Since its price is predicted to increase, it might be a profitable investment in the long run.
Can Crypto.com Coin’s price ever reach $1?
Many experts forecast that CRO can go close to $1 in the coming months. Since Crypto.com is slowly becoming one of the best financial services companies, the price of CRO can easily exceed $1.
Can Crypto.com Coin price increase?
The price of CRO can increase in the future. Since its supply is limited, it is likely that the price can grow at larger rates as it becomes scarcer.
Also read: Polygon (MATIC) Price Prediction 2021 and Beyond – Will MATIC Reach $10 in 2021?
Takeaways
- Crypto.com Coin (CRO) is an open-source blockchain focused on providing the best financial services in the cryptocurrency market.
- CRO blockchain uses a Proof-of-Stake (PoS) consensus mechanism.
- The total supply of Crypto.com Coin is 30 billion CRO. Around 83% of the total supply is in circulation at the time of writing this.
- CRO reached its highest of all-time in February of 2022 at $0.27.
- Experts predict that the price of CRO can increase in the future.
- To buy CRO, you can use legitimate cryptocurrency exchanges such as Binance, OKEx, Huobi Global, etc.
- To store CRO, you can use either hot or cold wallets.