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Ever heard about crypto.com’s new coin? Well, here is vital information for you
As the crypto sphere increases by the day, more people get to pay interest in investing, trading, and even creating their own NFTs and cryptocurrencies. In the beginning, developers came up with platforms that helped other newbies master the art of trading digital currencies. Over the years, these platforms have also come up with an exciting idea of creating their own digital currency. Like it is said, Practice makes perfect. Binance is one of the crypto exchange platforms with a digital currency that many are already buying. In this article, we will talk about crypto.com and crypto.com coins.
What is crypto.com?
Crypto.com is a cryptocurrency exchange platform as we have earlier mentioned and it is based in Singapore. The objective of crypto.com is to speed up crypto adoption through services offered through its app and which includes prepaid Visa cards offering up to 5% back in the native MCO tokens, coupled with other mouth-watering benefits. This platform also provides digital wallets, a software-based system that stores users’ payment information and passwords. This information is secured and cannot be accessed by any other third party unless they are granted access to the data. Through this service, the crypto.com platform enables buying and selling of cryptocurrencies on the platform. In addition to this, the platform recently launched an NFT marketplace. So far, the app has about ten million users and a handful of employees.
History of Crypto.com
The crypto.com company was initially founded by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo in 2016, under the name ‘Monaco’. In 2018, the name was changed to crypto.com after a purchase of a domain owned by a cryptography researcher and professor, Matt Blaze. In order to change its company name to Cypto.com, the company purchased naming rights by paying about $700 million to Staples Center in Los Angeles. The name change officially took effect on December 25, 2021, even though the domain name was already registered in 1993.
Crypto.com coin (CRO) is a token used on the crypto.com platform for transactions within and outside the platform. This cryptocurrency platform, however, does not only support trading, investing, staking of just its own token but of more than 150 different currencies. It offers reasonable fees and discounts for those who hold a reasonable stake in Crypto.com coin. It has a lot of offers that many crypto enthusiasts can explore.
The pros seem to outweigh the cons. That does not mean that it is void of downsides. First, the trading fees only reduce if a trader stakes a significant amount of CRO. trading fee discounts seem complicated to navigate.
In a nutshell, crypto.com Coin is the coin for the crypto.com platform. These coins have not yet been released into the crypto market. However, it is already available on DeFi Swap and users have the ability to swap CRO, become CRO liquidity providers in order to earn fees, and boost their yield by up to twenty times when staking CRO.
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