Cronos, one of the leading blockchains in the market today, aims to support the development of an open metaverse. It is powered by its native token, CRO. In this guide, we will explore five platforms for purchasing this token. Read on to learn more.
OKX
Launched in 2017, OKX is a popular crypto exchange founded by Star Xu. It offers both derivatives and spot trading. OKX is among the top ten exchanges based on trading volume. Further, it allows its over 10 million customers to trade 512 cryptocurrencies, including CRO, at low fees.
OKX has a presence in 104 countries. The exchange is ideal for buying CRO due to its deep liquidity and stringent security protocols.
Pros and Cons of OKX
Pros
- Supports direct staking.
- It gives access to advanced trading tools.
Cons
- The exchange’s complicated interface makes it challenging for beginners to navigate.
Uphold
Uphold started operating as Bitreserve in 2013. It rebranded two years later with the aim of offering more services rather than just crypto trading. Uphold is now known for allowing users to hold, trade, and stake cryptocurrencies like CRO. Moreover, you can easily convert your digital tokens to fiat on the exchange. As of April 2024, Uphold operates in 174 countries.
Pros and Cons of Uphold
Pros
- It gives access to unlimited educational content.
- You can stake CRO to earn passively.
Cons
- US Customers are not allowed to stake CRO and other digital tokens.
Coinbase
As one of the regulatory-compliant exchanges in the United States, Coinbase is an easy pick for many crypto traders in the US. The trading platform offers Visa debit cards to allow customers to pay for shopping using their crypto holdings. Moreover, Coinbase operates a “Learn” program that enables users to learn about blockchain technology while earning tokens.
Pros and Cons of Coinbase
Pros
- Its user-friendly interface allows novice traders to buy CRO with ease.
- Coinbase boasts tight security features.
Cons
- The exchange supports limited payment methods.
- Mandatory Know Your Customer checks may prevent privacy-focused crypto users from using the platform.
MEXC
Serving millions of users in over 170 countries, MEXC is a top crypto exchange that supports hundreds of cryptocurrencies, including Cronos. The platform is a perfect pick for traders who prioritize low trading fees.
Pros and Cons of MEXC
Pros
- MEXC allows users to stake their CRO to earn passive income.
- The exchange offers crypto trading at low fees.
Cons
- MEXC doesn’t operate in countries like Singapore, China, Canada, and the United States.
Gate.io
Gate.io was launched in China in late 2013. However, following China’s ban on fiat-to-crypto trading and initial coin offerings in 2017, the exchange moved its headquarters to the Cayman Islands. Besides spot trading, Gate.io supports crypto lending and margin trading.
Pros and Cons of Gate.io
Pros
- Gate.io has excellent customer service.
- It employs advanced security features to protect user funds.
Cons
- Gate.io lacks a presence in the United States.
Understanding CRO
As mentioned earlier, CRO is the token that powers the Cronos ecosystem. This cryptocurrency serves numerous purposes, such as rewarding stakers and collecting gas fees. Moreover, CRO plays a vital role in the Crypto.com exchange. For example, holders of this token get to trade at reduced trading fees.
How to Purchase Cronos
Follow these steps to buy Cronos on Coinbase.
1. Create and verify a Coinbase Account
Download the Coinbase mobile app from the App Store or Play Store and create an account. After that, verify the account by providing your ID and proof of residence.
2. Search for Cronos (CRO)
Once you access your new Coinbase account, type “CRO” in the “Search” feature.
3. Buy CRO
After finding CRO, click on it and then press “Buy.” Select “One-Time Order” as your order type. Next, enter the amount of CRO tokens you want to purchase and choose a payment method.
Review the transaction and confirm the purchase. Coinbase will process your transaction within a few minutes. Once the CRO tokens are deposited into your trading account, you can transfer them to a non-custodial wallet.
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