Wrapped CRO (WCRO) is a DeFi-compatible version of the native CRO token, which is used for gas fees on the Cronos chain. It is a mid-cap asset with a fixed supply and is moderately correlated to the overall market. WCRO is necessary for CRO to interact with smart contracts and can be freely interchanged with native CRO at a 1:1 rate. It is used for trading and financial services within the Cronos ecosystem.
Wrapped CRO (WCRO) is a cryptocurrency that allows the native CRO token to interact with smart contracts on different blockchains. It is wrapped to the CRC-20 standard, which enables it to be used on platforms that do not support the native CRO token. WCRO is primarily used for trading on decentralized exchanges, particularly on the Cronos chain, where it is necessary for interacting with smart contracts such as the Crystal Farm smart contracts.
WCRO can be stored on centralized exchanges (CEX) or in non-custodial wallets, providing users with control over their private keys. It can also be used for staking, lending, and yield farming to earn passive income.
Additionally, WCRO can be swapped for other tokens on the Cronos chain, and it is automatically wrapped from native CRO before being staked in farms or mines on the VVS platform. This allows for seamless interaction between different tokens and platforms.
To store Wrapped CRO (WCRO) tokens, you need to follow these steps:
Choose a Crypto Wallet: Select a reliable and secure crypto wallet that supports WCRO tokens. Ensure the wallet is compatible with the Cronos blockchain, as WCRO is a bridged token on this blockchain.
Set up your Wallet: Create and set up your chosen wallet, following the wallet provider's instructions. This typically involves creating a password, securing your private keys, and configuring any additional security measures.
Buy or Transfer WCRO: Acquire WCRO tokens by buying them on a decentralized exchange like VVS Finance or by transferring them from another wallet. Make sure to use the correct contract address for WCRO, which is 0x5c7f8a570d578ed84e63fdfa7b1ee72deae1ae23.
- Store WCRO in your Wallet: Once you have WCRO tokens, store them securely in your wallet. Ensure you have the correct wallet address and that your wallet is configured to support WCRO tokens.
By following these steps, you can safely store your Wrapped CRO (WCRO) tokens in a crypto wallet.
To buy Wrapped CRO (WCRO) tokens, follow these steps:
Choose a Crypto Wallet: Select a reliable crypto wallet that supports your preferred payment method and policies. Popular options include Coinbase Wallet, MetaMask, and TrustWallet. Download the wallet extension or app from the relevant stores.
Set up your Wallet: Create an account, provide personal information, and set a strong password. You will receive a secret recovery phrase or seed words, which you should note down carefully.
Buy your Base Currency: Choose a cryptocurrency exchange platform and buy a base currency such as Bitcoin, Ethereum, or Tether. This will be used to trade WCRO.
Transfer Funds to your Wallet: Withdraw your base currency to your crypto wallet by providing your wallet address and the amount to transfer.
Choose a Decentralized Exchange (DEX): Select a DEX that supports your wallet. Compare trading fees and liquidity before making a choice.
Buy Wrapped CRO (WCRO): Connect your wallet to the DEX and select WCRO from the list. Enter the amount you want to trade. Be cautious of market trends and diversify your portfolio.
- Check Smart Contracts (if needed): If WCRO is not listed on the DEX, use bscscan or etherscan to find the smart contract address. Copy and paste it into the DEX, ensuring you have the correct address to avoid scams.
Popular exchanges for buying WCRO include VVS Finance, where the most active trading pair is VVS/WCRO.