The CRO coin offers several use cases to its holders, including:
Paying Transaction Fees on Cronos Chain
As the native digital asset of the Cronos Chain ecosystem, the CRO token is used to pay transaction fees by users and dApps utilizing the blockchain to send data and payments. However, the transaction fees on the ecosystem are far lower than those charged by Ethereum.
Receiving Discounts and Special Offers
CRO holders enjoy cashback when using the cryptocurrency to make payments to merchants, purchase gift cards and send payments to other users on the Crypto.com Pay platform.
Earning Token Rewards on Crypto.com Exchange
CRO token holders also receive token rewards for specific tokens listed on the Crypto.com exchange when they stake their $CRO on the platform.
Staking to Become Validators
Users can also stake CRO on the Cronos Chain to become validators who verify transactions and add new blocks to the blockchain network. In return for their efforts, they receive a percentage of transaction fees as rewards.
Crypto Asset to Invest in and Hold
As of June 2022, Cronos (CRO) is among the top 25 cryptocurrencies by market cap and enjoys high liquidity and trading volume across major crypto exchanges. It is a popular digital asset to trade against other cryptocurrencies or hold in the long term if you believe in the future potential of Crypto.com and the Cronos Chain. Ensure that you check the current Cronos price, CRO market cap, and 24-hour trading volume and perform fundamental, technical, and sentiment analysis every time you trade CRO.
Earn Passive Income
In addition to staking CRO on the Cronos Chain, you can also use CRO to grow your crypto capital in a risk-free manner by lending liquidity or staking the token on supported platforms. These methods can offer attractive returns and let you generate a stream of passive revenue more safely.
KuCoin offers a safe way to grow your Cronos holdings via its Crypto Lending feature. You can use this service to lend liquidity in CRO to the platform over 7 days, 14 days, or 28 days to earn attractive returns.