While some believe cryptocurrency is the future, others are more reluctant to make such bold remarks. Many well-known critics, such as Warren Buffet, have stated that cryptocurrencies have no intrinsic value. Despite this, the crypto world has continued to evolve, and currencies have continued to be further developed.
Among those currencies is Bitcoin, the world’s most well-known cryptocurrency, and the native token of Crypto.com, Cronos. This article is a fundamental analysis of these two cryptocurrencies and should give you a better understanding of their pros and cons, and whether they are a good choice for investors.
History
The history of cryptocurrency, in general, is an interesting one. Let’s start by looking at the history of two popular cryptocurrencies, Bitcoin and Cronos.
Bitcoin (BTC)
The whitepaper for Bitcoin was written and released by a developer, or several developers, under the pseudonym Satoshi Nakamoto in 2008. It was subsequently released to the public in 2009.
Bitcoin became the coin that started it all, with many other cryptocurrencies being developed solely because of its influence. A term was created for these coins, altcoins – meaning an alternative coin to Bitcoin.
Cronos (CRO)
CRO is the native token of the Cronos chain, but Crypto.com didn’t exist until 2018. Previously the company was known as Monaco, but following a purchase of a new domain, it adopted its new name.
What Are They, And Why Were They Created?
What are cryptocurrencies, and why do they exist at all? While this question may seem complex to non-experts, it isn’t that complicated at all.
Bitcoin (BTC)
Bitcoin is a virtual currency that acts as a decentralized form of payment. It was made in response to the global financial crisis of 2008, the most severe since the Great Depression of 1929. The crypto coin has proven incredibly popular, likely due to its timing.
Currently, 19,188,143.75 Bitcoins have been mined, and with a maximum of 21 million Bitcoins that can be mined, in the coming years, all of this crypto coin will have been mined.
Cronos (CRO)
The Crypto.com blockchain was created to create a network of crypto projects and develop merchants’ capability to accept crypto as a payment method. Cronos is used to facilitate the creation of blockchain solutions and maintain network security through staking.
The utility token CRO is currently the primary payment method on the blockchain.
Price History
The price of cryptocurrencies has always been very volatile, mainly because they’re led entirely by investor behavior. So when attitudes are positive, cryptocurrency prices go up, but prices drop when variables lead to negative investor attitudes.
Bitcoin (BTC)
Bitcoin has come a long way from its extremely humble beginnings. For many years there was no significant change, and from 2015 up until 2017, Bitcoin’s price remained stable at just a couple of hundred dollars.
In 2017, its price spiked to roughly its value today at $19,363,19, only to drop gradually again throughout 2018. It’d be two more years from 2019 till it’d experience another spike, but this time two major ones, both at well about $60,000.
Of course, as it happens, Bitcoin’s price dropped dramatically and then steadily over the year, down to its value today at $20,104.69. The volatile nature of cryptocurrencies’ value is a risk that some investors are willing to take, especially when it comes to an older token like Bitcoin.
Cronos (CRO)
Having been around since 2018, Cronos has had a steady increase in price over the years. However, it only experienced a significant change in 2021, when, after a mild spike to $0.2442 and other similar values in April, it saw its first major spike to almost $1, followed by ups and downs, until its current value of just over $0.1.
Market Cap
A cryptocurrency’s market cap is determined by multiplying its current price by the amount of circulating supply it has. Market cap is an excellent indication of the relevancy of a cryptocurrency and a critical metric to consider.
Bitcoin (BTC)
Bitcoin’s current market cap is $385,936,800,112. This is more than double Ethereum’s market cap at $183,059,375,464 and more than five times the market cap of the current 3rd ranking crypto, Tether, at $68,893,767,932.
Cronos (CRO)
Cronos is ranked 26th on the cryptocurrency market with a market cap of $2,767,460,176.
Daily Transactions
The number of daily transactions a cryptocurrency experiences is also a good indication of its relevancy, and while this does fluctuate, looking at daily trends can help investors understand if it’s a good time to invest or not.
Bitcoin (BTC)
Bitcoin’s most recent 24-hour volume is $49,010,790,813, or 2,444,849 BTC.
Cronos (CRO)
Cronos has a most recent 24-hour volume of $39,587,877, the equivalent of 360,600,806 CRO.
Block Size
Blockchains are made up of blocks of data, and the size of a block affects the speed of transactions on the Bitcoin blockchain.
Bitcoin (BTC)
Although Bitcoin used to be limited to a 1 MB block size, the typical block size on the Bitcoin network is now 2 MB. However, the crypto does have a theoretical block size of 4 MB.
Cronos (CRO)
Cronos has a maximum block size of 3MB, slightly less than Bitcoin.
Similarities
Cronos and Bitcoin have some key similarities:
- Both Cronos and Bitcoin are forms of decentralized currency used as an alternative to fiat currency.
- They can both be bought, sold, or traded.
- Both cryptocurrencies are well-known and frequently traded.
- Cronos has low transaction fees (less than $1 per transaction), which is on par with Bitcoin at a recorded $0.957 average in August this year.
Differences
Cronos and Bitcoin, despite their similarities, are very different cryptocurrencies. Let’s explore these factors:
- Cronos runs on a proof-of-stake consensus protocol, whereas Bitcoin operates on a proof-of-work protocol.
- CRO tokens are limited to 30 billion, while Bitcoin is limited to just 21 million.
- CRO is a utility token used to facilitate transactions within its financial ecosystem, whereas Bitcoin is mainly used as a way for people to send money over the internet.
Risks
Investing in cryptocurrencies always has an element of risk, mainly because they haven’t been around for long. The uncertainty surrounding them also affects investor behavior, causing volatile fluctuations.
Bitcoin (BTC)
Investing at the wrong time, particularly because of the price of Bitcoin, can be devastating for cryptocurrency investors. That said, if the price goes down, it’s likely to go up again, but it’s hard to tell when this might occur. For example, investors who invested money in 2021 might be down over $40,000 per purchased Bitcoin.
Bitcoin is not regulated; however, this might change. The US is actively looking toward further cryptocurrency regulation, which will undoubtedly affect investor interest and Bitcoin’s price, although it may cut down on the level of risk that comes with unregulated currencies.
Cronos (CRO)
Cronos has a moderate level of risk, according to risk analysis. However, investors should nevertheless be careful not to put all their eggs in one basket, so to speak. A cryptocurrency investment must be part of a balanced portfolio of investments.
Where To Buy
So, where can you buy Bitcoin and Cronos?
Bitcoin (BTC)
You can purchase Bitcoin from many places – for example, you can now buy it at select CVS and 7-Eleven stores and Walmart. You could also buy this cryptocurrency at Bitcoin ATMs, similar to regular ATMs, except that they only facilitate Bitcoin transactions.
Of course, if you’d find it more manageable, you could always buy Bitcoin at one of the many online crypto exchanges, such as Kraken, Bitfinex, and Coinbase.
If you already have a PayPal account, you can even purchase it there.
Cronos (CRO)
As the native coin of Crypto.com, Cronos can be purchased on the cryptocurrency exchange, but it’s available on various exchanges such as HTX and CoinDCX.
Exchanging Bitcoin (BTC) For Cronos (CRO)
SimpleSwap allows you to swap your Bitcoin for Cronos using their simple exchange feature. Just type in the amount of Bitcoin you’d like to exchange, and you’ll get the equivalent amount of Cronos.
For just 1 Bitcoin, the platform will give you 65,664,8076 Cronos at current rates. However, this is subject to change.
All you need to exchange Bitcoin for Cronos is to create an account with them with SimpleSwap.
Future Plans
What does the future look like for Bitcoin and Cronos, and should we be investing in them? Let’s explore this next.
Bitcoin (BTC)
Bitcoin has positive projections for the future. Some Bitcoin enthusiasts state that the crypto will be valued at almost $1,000,000 by 2030. Optimistic but slightly more conservative estimates put it in the hundreds of thousands.
Based on current data, Bitcoin is likely to stay around with us for a long time and will likely become accepted worldwide as a form of virtual currency. It might very well be a good investment overall.
Cronos (CRO)
Cronos’ projections, although not as lavish as Bitcoin’s, put it at anywhere between $4.83 and $5.55. This is quite a step up from its current value.
And as the currency of Crypto.com, it’ll continue to be supported by its developers.
Sources:
https://crypto.com/university/what-is-cronos
https://crypto.com/price/crypto-com-coin
https://www.investopedia.com/terms/b/bitcoin.asp
https://www.investopedia.com/terms/m/monaco-mco-cryptocurrency.asp
https://coinmarketcap.com/currencies/cronos/
https://www.coindesk.com/price/bitcoin/
https://ambcrypto.com/predictions/crypto-com-chain-price-prediction-2030
English 
French 
German 
Italian 
Spanish (Spain) 
Spanish (Mexico) 
Portuguese 
Japanese 
Polish 
Bulgarian 
Czech 
Danish 
Dutch 
Estonian 
Finnish 
Greek 
Hungarian 
Latvian 
Lithuanian 
Romanian 
Russian 
Slovak 
Slovenian 
Swedish 
Chinese (China) 
Chinese (Hong Kong) 
Korean 
Norwegian 
Turkish 
Indonesian 
Ukrainian