What are Cronos and CRO?
Cronos is a blockchain network. CRO is the native cryptocurrency that powers Cronos and is used to pay transaction fees on the network.
A useful distinction is that Cronos is the network, while CRO is the asset that powers it. Cronos is Ethereum Virtual Machine (EVM)-compatible, which means developers can port Ethereum-style applications to Cronos. It is also built on the Cosmos SDK.
How to buy CRO in the US
In the Crypto.com App, the basic flow is:
- Sign up and verify your identity.
- Top up your account.
- Go to the trading screen, select Cronos and complete your purchase.
You can start with as little as US$1. Before confirming, make sure Cronos is the asset you want to buy.
How can you fund a CRO purchase?
For a CRO purchase in the App, you can fund your account with:
- Bank transfer, including ACH or wire.
- Debit or credit card.
- Apple Pay or Google Pay.
- PayPal.
- Crypto deposited from another wallet.
If you deposit CRO from an external wallet, check the network and address before sending. Crypto transfers are irreversible, and sending an unsupported token may result in the loss of tokens. If you deposit CRO over Cronos POS Chain, you need both a memo and address.
How is buying CRO different from day trading CRO?
Buying CRO usually means acquiring the asset and holding it over a longer period. Day trading means buying and selling CRO over short timeframes, often within the same day, to try to benefit from price movements.
Day trading usually needs more time, skill and risk management because results depend heavily on timing and market swings. Crypto prices can be volatile in either case.