What is Cronos (CRO), How and Where to Buy It?

Esat Demirtaş 6 May 2023Last Updated: 6 May 2023

3 minutes read

What is Cronos (CRO), How and Where to Buy It?

Regardless of the most popular categories and trends of the period, cryptocurrencies belonging to crypto exchanges always manage to stand out. Cronos (CRO) is also a crypto money belonging to a crypto exchange, as it can be understood by those who know the old name Crypto.com Coin, and therefore it attracts attention.

In this article, we will try to give you all the information about Cronos (CRO) with answers to the question of what is Cronos and what is CRO Coin, how and where to buy it.

Contents

What is Cronos?

Cronos is a decentralized, open-source Cronos Chain blockchain cryptocurrency project owned by a centralized crypto exchange Crypto.com.

Released at the end of 2018, Cronos is one of Crypto.com’s products in a series of solutions designed to increase personal control over cryptocurrencies, use it as a means of protecting user data and users’ identities, and accelerate the global adoption of cryptocurrencies.

Cronos serves as a tool to power the Crypto.com Pay mobile payment application as one of the main targets. In the future, Cronos’ domain will be expanded to empower all other Crypto.com products.

Cronos is focused on benefiting users of Crypto.com’s payment, trading and financial services solutions.

What is Cronos Chain?

Cronos Chain, an Ethereum-compatible blockchain, has been released to run parallel to the Crypto.org blockchain.

The mainnet beta version of Cronos Chain, released on November 8, 2021, is built on top of the Cosmos SDK using a proof-of-authority (PoA) consensus mechanism.

In Cronos Chain, which is compatible with Ethereum Virtual Machine (EVM), thousands of DApps installed on Ethereum can be moved to the Cronos blockchain thanks to this compatibility. In addition, Cronos Chain supports the Inter Blockchain Communications (IBC) protocol, which enables DApps on Ethereum to bridge the Cosmos ecosystem.

What is CRO Coin?

CRO Coin is the native token token of Cronos Chain, also owned by Crypto.com.

Designed with a maximum supply of 100,000,000,000 (100 Billion), 70% of CRO Coin was burned in 2021 and its total supply was limited to 30 billion.

The distribution of the total supply will be realized as follows:

30% secondary distribution and development incentives,
20% capital reserve,
20% long-term network incentives,
20% ecosystem grants,
10% community improvement.

Where to Buy CRO Coin?

There are two ways to purchase CRO Coins:

Buying from Crypto.com,
Buying on central crypto exchanges listing CRO Coins.

In fact, the most logical method is to buy CRO directly from the Crypto.com exchange, which is the founder of CRO Coin, but since the memberships to Crypto.com are not immediately active, crypto exchanges that list CRO may be preferred.

If you are a member of Crypto.com, you can get CRO Coins directly from here. If you do not have a membership but want to buy CRO Coins, then you can choose central crypto exchanges that list CRO.

How to Buy CRO Coins?

In order to buy CRO Coins, you can follow the steps below to buy CRO Coin through Gate.io, one of the central exchanges that lists alternative CRO Coins to the Crypto.com exchange:

Log in to your Gate.io Exchange account. If you do not have an account on the Gate.io Exchange, click here to create one.
Transfer the amount of CRO Coin you want to buy after logging into your account. You can use the Tron (TRX) cryptocurrency because of its affordable transfer fees.
After your transfer reaches your Gate.io account, go to the Markets page and type CRO in the search section and select the CRO/USDT parity.
On the page that opens, determine the amount you want to buy and click the Buy CRO button to complete the purchase.

If you are looking for a detailed guide on the use of Gate.io Exchange, you can review our article titled Gate.io Exchange and Detailed User Guide.

Frequently Asked Questions About Cronos (CRO)

What is Crypto.com Coin?

The Cronos (CRO) Coin was formerly called Crypto.com Coin but was later renamed Cronos but is still known to many as the Crypto.com Coin.

Which Exchanges Are Cronos (CRO) Coin Available on?

Apart from Crypto.com Exchange, CRO Coin is listed on Gate.io, KuCoin, FTX and Coinbase crypto exchanges. If you are looking for an alternative crypto exchange other than Crypto.com, Gate.io would be the most logical choice in terms of trading volume.