Throughout the year 2020, the CRO token approximately doubled in value, making it the best performance among cryptocurrencies with a market size of at least $1 billion.
Crypto.com’s objective, as per its website, is to hasten the nation’s shift to cryptocurrency. It appears that they might be onto something. Crypto.com is a Hong Kong-based corporation with a long history in the cryptocurrency space. Monaco was indeed the firm’s name in 2017.
In 2017, it generated $26.7 million from the sale of MCO tokens. One of the most common applications for these tokens was a credit card rewards scheme.
According to the company webpage, they eventually launched a second token, CRO, which will be used for cross-asset intermediary currency settlement for the original Crypto.com Chain. The CRO token airdrop to MCO owners started in December 2018, and CRO trading pairs are currently available on more than 20 platforms.
CRO has been the greatest performing cryptocurrency in 2020, especially when contrasted to ventures with a market cap of more than $1 billion.
From 1 million users in September 2019 to 2 million users in May 2020, they have doubled their customer base. In much less than 2 months, they’ve surpassed 3 million, with a massive increase in CRO value and trading activity.
Crypto.com in a Nutshell
Monaco purchased the name crypto.com in an unknown deal in 2018. Then came the rebranding, which involved transitioning from a visa card provider to a more complicated project. The cryptocurrency idea of Crypto.com shines itself.
They’re building an entire ecosystem, including an easy-to-use hot wallet, a reduced exchange, and their own blockchain.
They also offer Visa card payments with significant rewards as well as a payment system that allows businesses to receive cryptocurrency payments. Last but not least, companies have a financing and interest rate structure with staking rates that are very favorable.
In addition, Crypto.com is the sole crypto debit card program that operates in the United States, Europe, as well as Asia. They’ve actively focused on cashback incentives since the company’s beginning.
Crypto.com stated on Twitter earlier this month that it has acquired its own emoji. Regardless the user likes it or not, when Twitter followers use the hashtag #CRO, a customized icon appears instantly.
Bitcoin was the first cryptocurrency to gain hashtag branding, and Crypto.com was the next. Many people saw this as an indication of widespread CRO support. In reality, it’s merely a paid service provided by Twitter to anybody who is willing to pay for it.
This branded product is said to have taken more than a million dollars, according to sources. Since then, Binance as well as Tron have followed suit.
Always a New Deal
Crypto.com held a 50% off deal on the $2 million value of BTC at the end of June to commemorate its fourth anniversary. From the standpoint of advertising budget, this is a one-million-dollar campaign.
Crypto.com’s business approach is complicated. They must increase their user base to maintain consistent demand for their token.
To do so, they leverage discounts and syndicated events. Finally, they encourage consumers to purchase tokens and stake them for 180 days, ensuring price stability.
Above everything, they must continue to increase demand. This is where the referral program comes in. If users go to YouTube and search for crypto.com, they’ll see hundreds of people hawking their reference codes.
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