Posted 11 months ago | by Brian Garcia
When it comes to exchanges it pays to be picky. Using the wrong exchange can waste your time and your hard-earned crypto. But there is an exchange that offers not only great token trading but the best set of tools and services in the industry to keep your crypto active and gaining. You know it – I’m talking about Crypto.com and I’ve got a lot of updates for you. Crypto.com is the multi-tool of crypto and keeps on adding more features. In this article, I break down the latest developments at Crypto.com and its CRO token.Read More
What Has Crypto.com Been Up To
Crypto.com is a channel favorite and has been so for years. They offer so many cool services like staking, trading, leverage trading, a dedicated DeFi wallet and so much more. But the handiest gadget in the Crypto.com toolkit is the Crypto.com Card. I use it all the time and it’s been a darling of the industry ever since it came out in 2018 and has seen strong adoption ever since. They even saw spending increase by 55% per user in 2020.
There is also the Crypto.com Token $CRO that has been out for some time. It’s the token that fuels their staking program. It’s seen a lot of press, including the biggest token burn in crypto history. More on that in a moment.
Crypto.com is an industry leader with its phone wallet which allows for easy purchases of the biggest and hottest coins on the market. Just this month they’ve added: Gitcoin, NuCypher, Kyber Network, Raiden Network, and more. All this buying power is scooped up with their Crypto Earn feature built right into the app. Crypto Earn gives you interest on dozens of coins, sometimes up to 12% APY, which is a no-brainer way to maximize your gains. They pay you in-kind with the coin you have staked so you’ll get to see your stack grow on its own. That’s like having a socket set that grows more sockets. Don’t underestimate the power of interest. I don’t.
Crypto.com Visa Card
Another often overlooked but very useful feature of the Crypto.com app is its Crypto Visa card. It happens to all of us. We make a trade or do a conversion or just send some crypto somewhere and there is a little bit leftover afterward. Usually, an amount that’s under the minimum transfer or trade limit. On other exchanges that small amount will just sit there…forever. But on Crypto.com you can take those micro amounts of coin and turn that into CRO. Over time this will add up and not only give your portfolio exposure to CRO but will also put your CRO into the CRO staking pool which unlocks the awesome power tool in the Crypto.com kit. The Binford tools approved… Crypto.com Metal Visa Card
The Crypto.com Metal Visa card is a total game-changer, and every crypto enthusiast should use it! The Metal card allows you to spend your crypto like you would fiat money just like you would a debit card. Anywhere Visa is accepted. That’s not only a great way to use your crypto instead of paying capital gains tax on it, but the Metal card itself is more useful than a Gerber Multitool. It has perks and lots of them.
There are several levels of Metal cards that carry their own perks, ranging from the bottom tier Blue card to the Top tier Obsidian card. Each tier is decided by how much CRO you have staked. The blue level is for people with ZERO CRO. But even this card will give you 1% of your purchases back as CRO in your Crypto.com wallet. Crypto.com wants you to succeed and unlock more benefits.
You can keep stacking CRO via the metal cards or buy CRO outright to stake but either way, the perks are fantastic. Not only do your CRO rewards increase but you get free stuff like Free Spotify, Free Amazon Prime, Free Netflix and that’s just the tip of the iceberg. You can even qualify to take part in the Crypto.com private jet partnership at the Obsidian level. That’s right you can use your Crypto.com card to fly on a private jet to the next Bitboy meetup.
The use case for Crypto.com is only ever-expanding. You can see by how much since our previous coverage of Crypto.com when they crossed the 10 Million User Milestone.
Our Take On The CRO Token
So the CRO token is an amazing token that puts other staking tokens to shame. But here on this channel, we’re all about transparency so I wanted to address the recent CRO token burn that happened early this year. That’s right Crypto.com took out their welding torch and burned 70 billion of its CRO token in order to correct an imbalance in supply and further decentralize the token. This was the biggest token burn ever in the history of crypto. What is a token burn? It’s when a development team, miners, or stakers all vote to send a number of unheld tokens to a wallet address that cannot be used.
Usually a bad address, this removes the determined amount of unheld tokens from the supply. This is a deflationary move meant to not only increase the price of the token but also manage voting, and give current and future CRO holders more of a voice per CRO they hold. Crypto.com has been very transparent about this and even showed all the wallet addresses the CRO token uses and their current holdings. While this was seen as controversial by some, it speaks to Crypto.com’s commitment to the development of the CRO token and to decentralization.
So CRO is an evolving tool to maximize your gains that has active development by a team that believes in decentralization. It’s a tool I use all the time. But what does that mean for the price? Is it something you should outright buy? Or should you just accumulate via the Metal Visa Cards? While I’m not a financial advisor I can see the price of the CRO token increasing not just due to the burn but because the Crypto.com card hasn’t even seen parabolic gains yet. I believe those gains are coming soon.
The CRO token has been slow the see a ramp-up in price compared to other exchange tokens like BNB. But CRO is doing something different. It’s not chasing high-risk liquidity farming, it’s doing more to foster adoption from the general public. They are long-term focused, like the team at Cardano. So while CRO has yet to break 1 dollar per token. I can see it hitting 1 dollar this year. That’s over 8x from where it is, 12 cents, at the time of recording this video. I’d even say that this coin is going to be a top 20 by the end of the year and the next four years could easily see a 16x to over 2 dollars.
Buying CRO not only has the potential for big gains as a trade, but it gives you amazing value WHILE YOU HOLD IT. So if you hold CRO and aren’t using the Metal Visa Card or the Dust Sweep or the Earn feature, you are leaving your tools out to rust. So let us know your CRO price prediction for 2021 and if you are using the Metal Visa Card. If you haven’t already, smash that like button and hit the subscribe button. It really helps us out.