Founded in 2016, Crypto.com is the Monaco-based project with the key goal to accelerate the mass adoption of cryptocurrencies as the main means of payment worldwide. Among its products are a metal visa card for storing cryptocurrencies along with fiat money, an online wallet, a card app, and a cryptocurrency exchange. While the cryptocurrency MCO is used to pay commissions and convert digital coins between each other, CRO is the second altcoin which is used within the system.
CRO is needed to pay transaction fees, create new nodes and convert cryptocurrencies. This altcoin represents the project on cryptocurrency exchange platforms and is the key asset for investors who want to support the project. It was created at the end of 2018 by the same team of developers that stand behind MCO.
About 170 million CRO coins were distributed via an airdrop to MCO holders on a monthly basis. The ai...rdrop started on December 7th, 2018. The amount that coin holders received via the airdrop depended on the MCO balance on their wallets. For every 1,000 MCO coins on their wallets, users received around 5276 CRO and after that, CRO coins were locked for a year without a possibility to be sold.
Initially, the airdrop was to be conducted for 5 years, but it ceased in about a year when the project was getting closer to issuing its cards in the US and came across potential problems with local regulators.Read More