Where to Buy Monaco Coin: A Guide for Crypto Investors
Monaco coin, also known as Crypto.com coin (CRO), is a cryptocurrency that powers the Crypto.com platform, a service that aims to provide users with a seamless and secure way to buy, sell, store, and spend various cryptocurrencies. Monaco coin was launched in 2017 as an initial coin offering (ICO) and rebranded as Crypto.com coin in 2018.
If you are interested in investing in Monaco coin, you might be wondering where to buy it and how to store it safely. In this article, we will explain the basics of Monaco coin and the best places to buy it.
What is Monaco Coin?
Monaco coin is the native token of the Crypto.com platform, which offers a range of products and services for crypto enthusiasts, such as:
A mobile app that allows users to buy, sell, and trade over 200 cryptocurrencies with low fees and high security.
A Visa card that enables users to spend their crypto anywhere Visa is accepted, with up to 8% cashback and other perks.
A DeFi wallet that lets users store and manage their own crypto assets, with access to DeFi protocols and yield farming opportunities.
A DeFi swap that allows users to swap tokens and provide liquidity on a decentralized exchange.
A Crypto.com exchange that offers spot and margin trading, as well as staking rewards for CRO holders.
A Crypto.com pay that enables merchants and customers to accept and send crypto payments with low fees and instant settlement.
Monaco coin serves as the utility token of the Crypto.com ecosystem, meaning that it is used to access various benefits and incentives on the platform. For example, users can stake CRO to get discounts on trading fees, higher cashback on their Visa cards, lower interest rates on crypto loans, and more. Users can also earn CRO by participating in DeFi protocols, such as lending, borrowing, swapping, and farming.
According to its website, Monaco coin has a total supply of 30 billion CRO, of which about 25 billion are currently in circulation. The remaining 5 billion are locked in a smart contract and will be released gradually over the next five years. The CRO token is based on the Ethereum blockchain and follows the ERC-20 standard.
Where to Buy Monaco Coin?
There are two main ways to buy Monaco coin: on an exchange or with fiat currency. Let’s take a look at each option in more detail.
Buy Monaco Coin on an Exchange
The first way to buy Monaco coin is to use a cryptocurrency exchange that supports CRO trading. There are several exchanges that list Monaco coin, including Binance, Coinbase, KuCoin, Bitfinex, Bittrex, Kraken, and Finexbox. The process of buying Monaco coin on an exchange usually involves the following steps:
Create an account on the exchange of your choice and verify your identity if required.
Deposit some funds to your account using your preferred payment method. You can use fiat currency or another cryptocurrency, depending on the exchange.
Find the CRO trading pair that matches your deposited currency (e.g., CRO/USD, CRO/BTC, CRO/ETH) and place a buy order at the current market price or a limit order at your desired price.
Wait for your order to be filled and receive your Monaco coins in your exchange wallet.
Buying Monaco coin on an exchange is relatively easy and convenient, but it also comes with some drawbacks. For instance, you will have to pay some fees for depositing, withdrawing, and trading on the exchange. You will also have to trust the exchange with your personal information and your funds, which exposes you to the risk of hacking, fraud, or theft. Moreover, you will not have full control over your Monaco coins unless you transfer them to your own wallet.
Buy Monaco Coin with Fiat Currency
The second way to buy Monaco coin is to use fiat currency directly on the Crypto.com website or app