How To Buy Cronos (CRO) in Canada 2022

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by Enoch Omololu

Updated

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The Crypto.com coin (Cronos or CRO) has been on a tear recently following news that the Staples Centre basketball arena was being renamed the Crypto.com Arena.

Crypto.com, the Cryptocurrency exchange that launched CRO, is paying a whopping $700 million for the naming rights.

Below I cover how to buy CRO coins in Canada and whether it is a good investment.

What is Cronos (Crypto.com Coin)?

Cronos (formerly Crypto.com Coin) is the native cryptocurrency of the Crypto.com Exchange.

The token and its blockchain enable payments on Crypto.com and can be used to:

Crypto.com was founded in 2016 and has since become one of the largest crypto exchanges in the world.

Since CRO is the native token of the Crypto.com exchange, it is not offered for trading by many other exchanges like Binance which also has its own coin.

That said, you can buy CRO at a few places in Canada.

How To Buy CRO in Canada

In order to buy Cronos, you will need to open an account at an exchange that supports it.

Fund your account with fiat currency (Canadian or U.S. dollars) or deposit cryptocurrency like Bitcoin or Ethereum, or a stablecoin like USD Coin.

Place a ‘buy’ trade for Cronos (CRO).

After purchasing CRO, you can either leave it in your exchange wallet or move it offline into a personal hardware wallet for increased security.

Where To Buy The Cronos Coin (CRO)

The top-2 places to buy CRO in Canada are:

1. Crypto.com

The Crypto.com app offers access to 150+ coins including CRO. This exchange has over 10 million users around the world and is also available in Canada.

Users can fund their accounts using a credit or debit card, as well as through direct bank transfer. Cryptocurrency deposits are also available.

When your account is funded, simply search for CRO to place a “buy” transaction.

The trading fees on Crypto.com vary depending on your account level, funding method, and the current promotions available.

You pay anywhere between 0% and 0.40%. Credit card purchases have a 3.50% fee, however, this fee is often waived during promotional periods.

Offer: Get a $25 CRO bonus when you stake enough CRO for a metal Crypto.com Visa Card.

Visit Crypto.com

2. Coinbase

Coinbase is a publicly-traded cryptocurrency exchange based in the United States. It supports about 100 cryptocurrencies and tokens including Crypto.com Coin.

You can add fiat to your Coinbase account using debit and credit cards, or transfer funds directly from your bank. Cryptocurrency deposits can also be made in your Coinbase wallet.

Like Crypto.com, there is a 3.99% fee for depositing funds or buying crypto using a credit card.

Trading fees are up to 0.50%, but may be lower if you are using Coinbase Pro.

Some other crypto trading platforms that support CRO are:

  • Bittrex
  • Huobi
  • FTX

How To Sell CRO in Canada

If you’d like to sell your CRO coins, you can do so directly in your crypto exchange account (Crypto.com or Coinbase).

Simply log in to your account and place a sell order for the CRO amount you want to dispose of.

After selling CRO, you can use the fiat proceeds to buy another digital asset or withdraw the funds to your bank account.

On Crypto.com, you can also swap CRO directly for another coin or deposit and stake CRO to start earning interest.

Where To Store Cronos (Cypto.com Coin)

You can store your Cronos in a hardware wallet where they can be kept safe from hackers.

One of the best CRO wallets is the Ledger Nano X.

After installing the Crypto.org Chain app on your Ledger wallet, you can transfer CRO from your exchange account to your Crypto.com wallet address.

The Ledger wallet supports more than 1,800 cryptocurrency assets.

Learn more about how it works.

Is Cronos (CRO) a Good Investment?

Cronos (CRO) has performed well since it was introduced in 2018.

Early adopters who purchased CRO at launch saw a return on investment (ROI) of 3,566% as of the end of 2021.

So, is CRO a good investment?

It is hard to say as its recent price growth is very much tied to the news that the company bought the naming rights to the Staples Centre. Also, Crypto.com has spent a lot of money advertising its exchange.

It remains to be seen whether these short-term exposures will translate into long-term steady returns.

Key numbers for CRO as of this writing include:

  • Crypto.com price: $0.26 USD
  • Market capitalization: $6 billion
  • Ranking: #22
  • Circulating supply: 25 billion
  • Total supply: 30 billion

Crypto.com Coin Canada FAQs

Where can I buy CRO in Canada?

Two of the best crypto exchanges offering CRO in Canada are Crypto.com and Coinbase.

Can I buy CRO on Binance?

Binance does not offer Crypto.com Coin and you can’t buy it on the platform.

Crypto.com supported in Canada?

The Crypto.com platform is available to residents of Canada.

Does Crypto.com have a wallet?

Crypto.com users get access to software crypto wallets they can use for holding their crypto assets.

Related:

Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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