When was CRO coin issued? Learn about the origin of CRO coin in one article

Incepted in 2018, CRO coin serves as a native utility token for the Crypto.com platform, offering a range of benefits to users.

Oct 01, 2024 at 07:30 am

CRO Coin: Unraveling Its Origins

1. Inception of CRO Coin:

In November 2018, Crypto.com, a leading cryptocurrency exchange, launched the CRO coin as its native utility token.

2. Initial Coin Offering (ICO):

CRO launched its ICO in November 2018, raising over $250 million in funding. The token sold for $0.05 per CRO at the time.

3. Purpose of CRO Coin:

CRO is designed to provide a range of benefits to Crypto.com users, including:

Native Exchange Token: Used for trading and exchange operations on the Crypto.com platform.
Staking and Rewards: Staking CRO earns users additional CRO, trading fees discounts, and other rewards.
Crypto Visa Card Benefits: Users can stake CRO to upgrade their Crypto Visa Card, unlocking higher rewards and perks.
NFT Purchasing: CRO can be used to purchase non-fungible tokens (NFTs) on the Crypto.com NFT marketplace.

4. CRO Tokenomics:

CRO has a total supply of 100 billion tokens, with the following distribution:

50% Exchange and ecosystem
25% Community and growth
15% Strategic investors
10% Marketing and operations

5. Price History:

CRO's price has fluctuated significantly since its launch. It reached an all-time high of $0.90 in November 2021, driven by the surge in interest in cryptocurrencies. However, the bear market of 2022 caused its price to drop to around $0.10 at the time of writing.

6. Current Use Cases:

CRO continues to be widely used on the Crypto.com platform and beyond. It is accepted as payment for various services, including:

Purchases at over 25 million merchants worldwide via the Crypto Visa Card
Subscription services such as Netflix and Spotify
Gift card redemptions at major retailers

Conclusion:

The CRO coin has come a long way since its humble beginnings in 2018. From its initial purpose as an exchange token to its expansion into a utility token with multiple benefits, CRO has established itself as an integral part of the Crypto.com ecosystem and the broader cryptocurrency market.

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