I stumbled on Crypto.com (CRO) as it's one of the few coins you can purchase by swapping on Osmosis thanks to the CRO-OSMO pool.
CRO is the native token which powers the Crypto.com chain, and open-source chain which hosts (in their own words) 'the world's fastest growing crypto app' which is basically a mobile wallet with (ATW) over 10 million users that allows you to purchase ('at true cost') over 100 crypto currencies.
There are also a number of other applications such as a DEFI app which allows for swaps, and a credit card.
The chain has 100 validators and you can earn CRO by staking to one of these, at a rate of 14% ATW.
CRO has seen a steady market cap growth over the last three months, and is currently 34th by market cap ranking.
CRO worth buying?
TBH I can't see anything really 'unique' about this project in itself, but the simple fact that this project has managed to bag the 'crypto.com' and 'crypto.org' domains makes it automatically appealing.
And the functionality offered in its suit of applications seems to be no worse than any other blockchain....
- A mobile wallet allowing purchase of the major crypto currencies
- A DEFI exchange
- A new NFT application
- A credit card offering incentives.
- A reasonable level of decentralisation, with 100 validators.
The token release schedule looks pretty appealing for the next 12 months or so too - firstly, all the tokens have already been minted, there are 30 BN in total, allocation split as follows:
- 30% — released in batches on a daily basis over five years from November 14, 2018;
- 40% — Capital reserve and Network Long-Term Incentives - frozen until Nov 2022;
- 20% — Ecosystem grants
- 10% — Community development.
But the icing on the cake for me RIGHT NOW is this:
A > 250% return for staking CRO with OSMO, Nice!
Given that both of these are on the uptrend, what's not to like!
Final Thoughts
To my mind, anything that has a fixed supply, a slow release, a functioning product on a killer domain name, a steady three month long upward price trend and a 250% pooling return with another token, OSMO, that's a buy!
Not sure if I'll hold it long term, but for now it's worth a punt for sure!
Posted Using LeoFinance Beta
They were pretty early to the idea, but it took them a really long time to figure out how to not get attacked by govts in the early days I guess. I heard they had some kind of breach a year or two ago. I've always thought about buying and using the card, but I don't know how the hell to report all that to taxes and I'm currently in a country that they are not available in.
I've always been tempted by Crypto Credit Cards, but yes there is that tax thang!
Aren’t you in Portugal now? I imagine it’s not difficult there
Love my crypto.com card. I've managed to stack a good few tokens with the 2% back over the past couple of years. Never had an issue with them and a great ecosystem.
I'll have to take a look at some of these pools as osmo isn't something that I've delved into yet. Looks to be profitable.
I'm amazed I haven't come across CRO already, glad it's working out for you!
OSMO has certainly been a good project to be involved with, seems to be taking some of that BSC market!
That's lovely, seems there's a lot more people involved than I thought. Might have to look at it.
Posted Using LeoFinance Beta
I moved all my CRO except what is locked on the card to CRO-OSMO pool a while back. The APR is incomparable with what you get through any of the features of the crypto.com apps.
I've been loving my crypto.com card for quite some time now, a year plus I'd guess. It's had some ups and downs as far as their communication, but I've had zero issues and love their ecosystem. Even nabbed free Spotify with their staking for the card. Good stuff. Now people like @rishi556 who hit a snag during verification of kyc shit, well, they tell a different story. But for me, they have been great.
I take it you don't mind mind KYC then?!?
Credit cards obviously aren't going to be for people that have a problem with it!
I mean, kyc isn't that bad. No different then any other card I've had, this one has better rewards. LoL
I buy CRO from time to time but I'm mostly using it in the Supercharger event.
I got involved initially because I could send funds there directly from my UK bank account but moved elsewhere once that stopped.
My pounds got changed into TrueGBP so I decided to leave them there rather than faces fees of moving them out. Then I used them to buy CRO from time to time. I think I'm down to my last £7 though so that will be it for now, unless I decide to get involved with the Earn stuff.
Posted Using LeoFinance Beta
It's interesting to hear how many people are involved with it!
What is much more overwhelming about this project is how they've almost partnered with all sports companies, I'm sure I've seen quite a lot if headlines of crypto.com partnering with one company or the other.
However, the metrics you've presented above best suits a long term investor in my opinion. Which is always the best option, I guess.
Posted Using LeoFinance Beta
It's passed me by entirely somehow, only a limited number of hours in the day I guess!
I had had a lot of CRO maybe about two years ago. At the time there was some bad rumbling about it, or the people behind it, so I sold everything and haven't looked at it since. They sent me a credit card which I never used. Maybe I should give it another look.
I went for a cautious in - just on some profits I made on OSMO.
TBH it's a shalllow vest - on the basis of their domain mainly, I mean... crypto.com!
I wanted to tell you yesterday when I read your article about crypto.com and that it is on Cosmos too, but I abstained, because everyone has a favorite "crypto card" company they use. Looks like you found it yourself anyway. :)
I always had vaguely negative sentiment towards crypto.com. I think from the early days of their exchange launch.
From memory they had fairly aggressive marketing offers: buy lots of CRO and stake it to qualify for big discounts on other coins. Very popular, but to me it just felt like a short-term pump approach for their own coin, and unsustainable.
It's interesting that quite a few crypto exchanges launched their native coins on Cosmos chains. So they should all be compatible with Osmosis and each other. I was going to do a post on it. When I find the time!
Oh trust me I've noticed that a lot of those coins on OSMOSIS are basically just exchange coins and nothing else.
I don't think any of these are a long term hold, about the only thing I trust is AKT, I also quite like the VPN coin there, but I've yet to dig into that more.
It's very much a side thing for me Cosmos/ Osmosis - I really didn't expect it to do so well, so the CRO thing is really just a 10% rebalance from the profit I've made.
I have the card, it beats the coinbase card in that they are not reporting me to HMRC everytime i fart. The 1 percent cash back is nice i have a stack of CRO which i plan to hold long term. They have the domain and money to market with. It could easily become a behemoth in the space.
You are about the fourth person that's said they use the app and the card, I can't believe I never heard of them until a few days ago.
The staking returns on Osmosis - Cro with OSMO are good btw if yer interested.