CRYPTO.COM coin has surged by almost 300 per cent in the last month after its native token CRO was listed on Coinbase and the company signed a $700 million deal with AEG to change the name of the Staples Center in Los Angeles to Crypto.com Arena.
But what is Crypto.com (CRO) and will it reach $5?
What is Crypto.com (CRO)?
Crypto.com started as the blog of a University of Pennsylvania professor, Matt Blaze, who sold the name in 2018 for an undisclosed fee to a cryptocurrency start-up called Monaco.
Blaze registered Crypto.com in 1993 and could have sold the domain for as much as $10 million. Eth.com, for example, sold for $2 million.
After purchasing the domain, Monaco renamed itself Crypto.com.
Crypto.com is a popular cryptocurrency exchange and currently has over 10 million users worldwide.
CRO is its token, which customers of Crypto.com can use to get discounted trading prices and rewards.
You can buy CRO on Coinbase and Crypto.com, however, most exchanges don’t list the native tokens of other platforms.
What is the Crypto.com Visa debit card?Crypto.com’s prepaid Visa debit card allows users to load and spend fiat – AUS, CAD, EUR, GBP, SGD, USD – without needing to buy or hold any cryptocurrencies.
There are no annual fees and cash back depending on the card you choose is between 1 and 8 per cent paid in CRO.
Incentives include free airport lounge access, Amazon Prime, Netflix and Spotify.
The card and rewards you get depends on how much CRO you stake.
Staking means you give money to Crypto.com and you can’t get it back before the staking period has expired.
The value of the amount staked can go up or down.
The entry tier gives you a card for free and 1 per cent cash back.
For the other tiers, you have to stake CRO for a minimum of 6 months.
After the 6 month period, you can keep your money staked and keep the benefits or withdraw your stake but the benefits will be reduced.
CRO price prediction 2021, 2022, 2024, 2024, 2025Digital Coin predicts CRO will finish 2021 trading at $1.14, $1.30 by the end of 2022, $1.56 by the end of 2023, $1.91 by the end of 2024 and $2.24 by the end of 2025.
Wallet Investor predicts CRO will end 2021 trading at $0.65, end 2022 at $0.74, $0.83 by the end of 2023, $0.91 by the end of 2024 and $1 by the end of 2025.