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How Does CRO Work Across Different Blockchains?

CRO is available on multiple blockchains. Here is a guide on using and bridging the different tokens in the App and DeFi Wallet.
Sep 20, 2022
different types of cro blockchain

If you are an avid decentralised finance (DeFi) user, you have probably noticed there are CRO tokens on different blockchains. While this can be confusing, they all have their own purposes and functions. 

In this article, we cover the four different CRO tokens and how they can be used in DeFi Wallet App:

  • ERC-20 CRO
  • CRC-20 CRO 
  • Crypto.org CRO
  • Wrapped CRO (WCRO) 

Key Takeaways:

  • The multiple types of CRO have equal value, but they don’t all have the same function, as they reside on different blockchains
  • In DeFi Wallet, use the different types of CRO to your advantage via the DeFi ‘Earn’ feature or the ‘Browser’
  • DeFi Wallet allows for conversion from one CRO to another

Why Is There More Than One Type of CRO?

There are multiple types of CRO because not every CRO token has the same purpose. While they all have equal representation, they reside on different blockchains:

The ERC-20 CRO is found on the Ethereum blockchain, while CRC-20 CRO and WCRO are on the Cronos blockchain; the Crypto.org CRO is the native token of the Crypto.org Chain.

Different CROs for Different Blockchains

ERC-20 CRO

This version of CRO was first created on the Ethereum mainnet, and it lives on the Ethereum blockchain, which means it is an ERC-20 token and follows Ethereum’s token standards

Users can easily swap ERC-20 CRO with other major tokens on the Ethereum blockchain. For example, to buy ETH, the ‘Earn’ tab of DeFi Wallet indicates that its ‘Chain’ category is Ethereum. In other words, you can buy ETH on the Ethereum blockchain. To do this, navigate to the ‘Swap’ tab and exchange ERC-20 CRO for ETH.

Alternatively, ERC-20 CRO can be swapped for other versions of CRO; this is called ‘migrating’.

Here’s how to use the ‘CRO Migration Tool’ to migrate ERC-20 CRO to Crypto.org CRO or CRC-20 CRO.

  1. In the ‘Wallet’ tab, click on ‘CRO’ balance, which navigates to your CRO individual wallet
  2. Tap ‘CRO Migration Tool’
  3. Click ‘Continue’
  4. Enter the amount of CRO to migrate, then tap ‘Continue’
  5. Review the details and tap ‘Confirm to Migrate’ to agree to the migration
  6. Authorise the transaction with your passcode (and additionally, your authentication code if 2FA is enabled)
  7. Wait for the on-chain confirmation of ERC-20 CRO to be sent to the migration bot
  8. After it is successfully sent, the transaction will transition from ‘Request Submitted’ to ‘Pending Approval’
  9. Once ‘Pending Approval’ has been completed, the transaction will complete shortly after

See our article on migration tools for a full breakdown and information.

Crypto.org CRO

CRO is the native token of the Crypto.org Chain and lives on this blockchain. It powers Crypto.com’s payment solutions and is a part of the Cosmos ecosystem, a decentralised network designed to connect blockchains. Users can support the blockchain by staking native CRO.

Here’s a step-by-step guide of how to stake the Crypto.org Chain CRO in DeFi Wallet:

  1. Open DeFi Wallet App and click the ‘Earn’ tab
  2. Select ‘CRO’ token 
  3. In the top-left corner, click the drop-down menu and select ‘Crypto.org’
  4. Hit ‘Confirm’
  5. From here, go to CRO staking to stake your Crypto.org CRO

For a deeper dive into CRO staking on Crypto.org, check out this Help Centre article.

CRC-20 CRO

While ERC-20 CRO and Crypto.org CRO live on Ethereum and Crypto.org Chain, respectively, the CRC-20 CRO lives on the Cronos blockchain. Many of the opportunities of the CRC-20 CRO – like VVS Finance and Ferro Protocol – can be found in DeFi Wallet, accessed through CRC-20 CRO and the Cronos blockchain. 

There are two places in DeFi Wallet where you can use CRC-20 CRO. 

One is the ‘Earn’ section in DeFi Wallet; search for the CRO symbol under the ‘Chain’ section to see which ones are available.

The other is the ‘Browser’, which offers access to dozens of natively integrated decentralised apps (dapps). In the ‘Browser’, navigate to the ‘Cronos DApps’ section, which has some of the largest — by total volume locked (TVL) — dapps on the Cronos blockchain; all accessible on DeFi Wallet App. To interact with these dapps, it’s important to have CRC-20, as it will give you access to these applications. 

For an introduction to the five most popular projects in DeFi Wallet, click here.

WCRO

Wrapped CRO (WCRO) is another common type of CRO that lets it interact with smart contracts and dapps that it otherwise couldn’t with a standard CRC-20 CRO or Crypto.org Chain CRO. It still represents CRO, but is able to have different functionality. 

One place that WCRO is applied is on VVS Finance, the most popular decentralised exchange (DEX) on the Cronos blockchain. The Initial Gem Offering (IGO) DeFi application allows users to buy into projects prior to launch. Visit the VVS application through the browser for an outline of what is needed in order to participate. 

The IGO project, Argo Finance, required WCRO in order to participate in its launch.

How do I Get WCRO?

Here’s how to purchase WCRO:

  1. Visit the ‘Swap’ tab in DeFi Wallet App
  2. From there, select ‘CRO’ and enter the desired balance
  3. Below that, enter ‘WCRO’ and click the ‘Swap’ button

WCRO and CRO values are 1:1, with WCRO as the wrapped version of CRO. When going from unwrapped to wrapped CRO (and vice versa), users have to pay a gas fee that is typically a fraction of one CRO.

How Can I Convert One CRO to Another?

If you want to use a specific DeFi Wallet feature but have a different type of CRO from the one that’s needed, use the ‘Bridge’ to swap your CRO with the type of CRO needed. For example, while CRC-20 CRO works on the Cronos blockchain, it won’t function on the Crypto.org Chain, so you will need to bridge it where necessary.

For a fee, the bridge lets users change their CRO between the types that are native to the Crypto.org Chain and Cronos blockchain. It’s best to always have a bit of CRO in your wallet handy at all times to pay for transactions.

Please note: At this time, bridging CRO to the Ethereum blockchain is not available on DeFi Wallet App. However, it is possible through the Crypto.com App to withdraw CRO onto the Ethereum blockchain. You can do so by either purchasing or depositing CRO from the Crypto.org Chain or the Cronos blockchain. From there, withdraw the CRO as ERC-20 CRO.

How to Use the Bridge in DeFi Wallet App

  1. Open DeFi Wallet App and select ‘Swap’ at the bottom of the screen
  2. At the top of the next screen, select ‘Bridge’
  3. Select which chains the CRO is coming from and where it is going
  4. Enter the desired amount of CRO to bridge
  5. When ready, click ‘Transfer’ and then ‘Confirm to Transfer’
  6. You’ll be asked to input your passcode (and, additionally, your authentication code if 2FA is enabled), and then your request will be submitted

For a full breakdown, check out our help article on the Cronos Bridge.

How to Tell One CRO From Another in DeFi Wallet App

Since there are multiple types of CRO, it’s important to know which one you hold. Here is a two-step guide on how to check:

  1. Open DeFi Wallet App and click on the ‘Cronos’ token on the home page
  1. Click on ‘CRO BALANCE’ at the top of the page

Here, you’ll see the different types of CRO held in your DeFi Wallet. The CRC-20 CRO is in the ‘Cronos Beta’ section.

How Do I Know When to Use Which CRO in DeFi Wallet App?

Navigate to the ‘Earn’ tab in DeFi Wallet App, where a number of different coins and liquidity pools are available to use or participate in. If you’re curious about which coin or chain is required to start yielding more tokens, simply click the coin and, in the top-left corner, a list of options for chains to select from will appear.

For example, if CRO is selected, then it can be staked via the Crypto.org or Cronos blockchains.

Conclusion

As CRO continues to grow, it’s important to understand the different types to ensure you have the correct form of CRO for every situation. Each CRO has a unique purpose that sets it apart from the others. Now that you’re aware of the differences, check out our guide to the Top 5 Projects on Cronos, and start exploring our DeFi Wallet so you can put your CRO to use.

Due Diligence and Do Your Own Research

All examples listed in this article are for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, or offer by Crypto.com to invest, buy, or sell any digital assets. Returns on the buying and selling of digital assets may be subject to tax, including capital gains tax, in your jurisdiction. Any descriptions of Crypto.com products or features are merely for illustrative purposes and do not constitute an endorsement, invitation, or solicitation.

Past performance is not a guarantee or predictor of future performance. The value of digital assets can decrease or increase, and you could lose all or a substantial amount of your purchase price. When assessing a digital asset, it’s essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.

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