Cryptocurrencies have seen a surge in popularity this year, with exchange tokens such as CRO experiencing significant gains. But with the market being relatively new and untested, it can be difficult to assess the best investment strategy. To help navigate the often choppy waters of cryptocurrencies, experts recommend a long-term buy-and-hold approach. This allows investors to avoid short-term speculation and ride out market fluctuations.
When it comes to choosing tokens, there are hundreds of platforms around the world that offer access to thousands of cryptocurrencies. To find the right one for you, you'll need to decide which features matter most. It's also important to remember that the cryptocurrency market is volatile and these investments are considered high risk, so only invest money you can afford to lose. Crypto.com's CRO token is built on the Ethereum blockchain according to the ERC-20 compatibility standard, which means its network is secured by the Ethash function.
The total supply of CRO is limited to 30 billion coins, all of which were created when the blockchain went live, making it a non-minable cryptocurrency. Tokens are earned primarily as a reward for processing and verifying transactions, and each node can stake a fixed amount of CRO tokens in exchange for the right to participate in network operations. The main role of Crypto.com's merchants is to accept payment in cryptocurrencies for the products and services they offer. In return, cryptocurrency settlements will come with 0 processing fees, with the option to offer customers discounts funded by the network.
All on-chain participants making transactions need to use CRO tokens to pay blockchain transaction fees. Fees are capped at 0.40 and decrease with a high volume of transactions or a significant holding of the CRO currency. CRO is also used as an intermediary currency that enables the conversion of cryptocurrencies into their fiat counterparts at a very low cost. Users can exchange CROs, be CRO liquidity providers to earn commissions and increase their return up to 20 times by betting on CROs.
Performing your own due diligence is a must before making any kind of cryptocurrency or traditional investment. When researching CROs, make sure you are reading about the blockchain project and not contract research organisations, which also tend to be abbreviated as "CROs". As with any cryptocurrency investment, you should also set a strict budget when making your first purchase. Benzinga developed a specific methodology to rank cryptocurrency exchanges and tools based on offers, pricing and promotions, customer service, mobile app, user experience and benefits, and security. For a full breakdown of our methodology, visit our Cryptocurrency Methodology page. To learn more about Bitcoin and Ethereum in Benzinga's guide, discover the best cryptocurrency apps to use on your iPhone or Android phone, or find out if bitcoin is a good investment for you - visit Benzinga's website.