- >Crypto.com is the New Exchange on the Block
Crypto.com is the New Exchange on the Block
It seems like everyday we hear about a new cryptocurrency exchange. A good portion of them do not have unique value offerings, with many of them being outright scams. Naturally then, it takes time to establish trust with the user base of a new exchange. One company though, is emerging from having ICO’d on a crypto VISA card, and is launching their own exchange. After establishing trust with a user base of more than 1 million people, the next logical step is to bring them the benefits of exchange level liquidity. Crypto.com is the new exchange on the block.
Keegan Francis | Oct 13, 2020
CRO: Exchange Ecosystem Coin
CRO is the coin dedicated to the crypto.com ecosystem. The company rewards users for holding, staking, and using the coin in a variety of ways. After the monolithic rise of Binance using a similar strategy for their BNB coin, other exchanges have followed suit. The main way that Crypto.com is differentiating themselves with their exchange coin, is by offering a 20% APR on when staking CRO. The catch is that the lockup period is 6 months long. By staking your CRO tokens, you also gain access to Crypto.com’s semi-monthly Syndicate event.
Crypto.com has been hosting events since the beginning of January 2020. By staking CRO tokens, you get the ability to spend additional CRO to purchase various cryptocurrency at a reduced price. For popular cryptocurrencies like BTC or ETH, the price is reduced by 25%. For all others thus far, including Tezos, Bitcoin Cash, and Chainlink, the price has been 50% off. By staking more CRO, users get to contribute larger amounts of CRO in the syndicate, while they earn 20% APR on all staked CRO. After having conducted a syndicate event, crypto.com lists the token on the exchange for further trading. This typically includes trading battles and other various incentives to encourage users to trade the newly listed coin. The next syndicate is VeChain, and is happening on April 30th, 2020.
The Slow and Steady Launch
If one thing can be said about Crypto.com, it’s that they are consistent. Crypto.com has been making incremental progress on their platform and ecosystem since the launch of their initial token (MCO) in 2017. The crypto.com exchange is still in BETA as the development teams iron out the kinks. With a goal of fuelling the adoption of cryptocurrency worldwide, crypto.com has created an ecosystem for merchants, regular users, and expert trades. With such a wide value offering, Crypto.com is the new exchange on the block. Check out the CryptoVantage review on the Crypto.com exchange for our complete review of the ecosystem.