The new compatible EVM Blockchains are numerous, this tutorial explains how to use the Blockchain Cronos.
Crono is a blockchain compatible with the Ethereum virtual machine and it was created by Crypto.com.
It is therefore the same principle as the CELO blockchain or Velas
- 1 Why choose Cronos?
- 2 Step 1 – Create an account on Crypto.com
- 3 Step 2 – Add the Cronos blockchain on MetaMask
- 4 Step 3 – Transfer cryptocurrencies to Cronos
- 5 Step 4 – Use the Cronos Blockchain
- 6 Videos
Why choose Cronos?
Cronos was created by Crypto.com, this is an iimportant cryptocurrency exchange (like Binance or Coinbase). The platform sponsors various football clubs, particularly in Italy (Lazio de Rome) and also offers a Visa bank card.
His token the Cro is therefore important and has a utility.
The team behind the project is solid, it is not for nothing that some football clubs are partners with them.
With Cronos they therefore put a foot in the Decentralized Finance and level up with Binance and its Binance Smart Chain.
Now let’s see the necessary steps to use the Cronos blockchain.
Step 1 – Create an account on Crypto.com
It is not mandatory but I strongly recommend that you create your account. Crypto.com is compatible with different networks and in particular the Binance Smart Chain.
This allows you to easily transfer funds between Binance Smart Chain and Cronos.
To register use my referral link https://crypto.com/app/vf7nqbe2kz to register on Crypto.com and we will both receive $ 25 USD 🙂
One of the drawbacks is that everything is done from the application on your SmartPhone. It will also be necessary to go through the verification of your identity.
Is your account validated and operational? Let’s move on to the next step.
Step 2 – Add the Cronos blockchain on MetaMask
Now we need to add Cronos to our Metamask wallet.
I do not go back on how to install Metamask since there is already a tutorial.
To add the Cronos network I recommend you go through https://chainlist.org
Bravo Cronos is available in your Metamask! We can move on.
Step 3 – Transfer cryptocurrencies to Cronos
Transfer cryptocurrency to Crypto.com from the BSC
This is the most complicated step. In fact, to use the Cronos blockchain you must have “Cro” tokens to pay transaction fees.
You have the possibility tobuy “Cro” with your bank card but I think it makes more sense to use your own cryptocurrencies.
We will therefore convert cryptocurrencies into USDC and then part of the USDC into CRO that we will send to Cronos.
We will be using Crypto.com as a gateway, indeed the platform accepts different channels (Binance Smart Chain, Ethereum, Cronos …)
I advise you to convert cryptocurrencies to USDC then send them to Crypto.com on the BSC blockchain.
Indeed it is then possible to send your USDC from Crypto.com to the Cronos Blockchain.
The fees will be much more interesting than those of Ethereum.
On your app click on TRANSFER then Deposit and finally Cryptocurrency
Then we will choose a cryptocurrency that exists on different networks (here the USDC)
Sell USDC for Cro
Now you have USDC in your Crypto.com account, Cronos needs the Cro token to pay the fees, so you have to sell some of your USDC for CRO.
By clicking on “Trade” then “Sell” you can sell your USDC for CROs.
So you have some Cro on your Crypto.com account, we are now going to transfer them to the Cronos blockchain!
Transferring Cro to the Cronos blockchain
For the withdrawal you must have Activate the “Double Authentication”!
We will click on “Transfer” then “Cryptocurrencies“except that here we will use the function”To withdraw“
You have to choose the Cro token but especially the CRONOS network , then add your address. It is available by opening your Metamask
Validate the shipment and a few minutes later you have your Cro in your Metamask Wallet !
It is of course possible to make the same handling for your USDC!
Step 4 – Use the Cronos Blockchain
Now what can we do on the Cronos network? Well there are different DEXs.
Yield Optimizers like Autofarm and Beefy support the Cronos network.
The Dex used here is VVS so you need to create your cash pairs on the VVS platform.
Here are some platforms to dig:
VVS Finance: https://vvs.finance/dashboard/farm
Here you know everything about Cronos!
I add the video of CryptoFarmeur which presents Cronos: