How To Short Cronos (CRO)

    • James Page

James HeadshotAuthor: James Page - Last Updated on June 28, 2022

Summary: Shorting Cronos is pretty straightforward, all you need is a cryptocurrency trading platform that allows for short selling. While there are a few exchanges out there that have added the ability to short crypto, our recommendation is to use eToro. They’re well-known, have a global presence, and are trusted by millions of users from 100+ countries.

We’ll be using eToro in our guide, you can sign up with one of the sign-up buttons below.

Global: Sign up with eToro

USA: Sign up with eToro US

Cronos

Before we get started, let’s quickly explain what shorting is (for those that are new to it). Shorting is the practice of selling a cryptocurrency hoping it will drop in price so you can buy it back later for cheaper… which, if successful, will give you a net profit.

It might sound a bit complex but don’t worry, it’s a lot easier than you might think.

How to Short Cronos

Shorting Cronos can be done in 4 steps:

  1. Find a crypto exchange
  2. Sign up with the exchange
  3. Fund your account with fiat or crypto
  4. Short Cronos

1. Find a crypto exchange

As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.

You can, of course, use any other crypto trading platform that allows for short selling.

etoro crypto

2. Sign up with the cryptocurrency trading platform

Let’s start with creating an account on eToro.

Global: Sign up with eToro

USA: Sign up with eToro US

 

eToro sign up form

The sign-up process is very quick, as is the verification that needs to be completed afterwards so you can get started.

3. Funding your eToro account

Next is funding your account. You have several deposit methods to choose from when depositing funds into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.

4. Short Cronos

These are the steps to follow to execute a short sell:

  1. Go to the search bar at the top, find Cronos by entering the name.
  2. On the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
  3. At the top of the trading interface: Click on sell to short the crypto.
  4. Enter the amount for which you want to sell Cronos and click on “Open Trade”.

Once you’re ready to close the trade, hopefully when the value of Cronos has dropped, go to your Portfolio, find the Cronos trade, and click on the red cross to close the trade.

If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.

Congratulations, now you know how to short Cronos!

Global: Sign up with eToro

USA: Sign up with eToro US

 

Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.

 

Where to Short Cronos (CRO)

Aside from eToro, the other major exchange you can use is Binance.

While Binance tends to be a bit more advanced when compared with eToro, they do have a lot more digital assets to trade with.

 

Frequently Asked Questions

Can I short Cronos on Binance?

Yes, you can short Cronos on Binance. They have over 300 cryptocurrencies on offer, have a decent phone app and a lot of advanced trading features.

About Cronos

Cronos (CRO), a native cryptocurrency token of Cronos chain -- a decentralized and open-source Blockchain developed by Crypto.com.

Cronos Chain is one product in Crypto.com's portfolio of solutions. It is designed to help users gain more control over their money, secure user data, and protect their identities. The CRO Blockchain is used primarily to power the Crypto.com Payment mobile payments app.

Crypto.com hopes to extend the reach and power of its CRO platform, in the future.

CRO became live in November-December 2018

Cronos was developed by Crypto.com in order to put cryptocurrency in every pocket.

Crypto.com's cryptocurrency blockchain service is primarily focused upon providing utility to its users.

Crypto.com Chain holders can use their CRO coins to serve as validators and earn fees from processing transactions on the network. Additionally, you can use your CRO coins to settle transaction costs on the Cronos Chain.

Crypto.com Pay app users can earn cashback of up 20% by paying merchants with CRO. Users can also receive up to 10% cashback by buying gift cards and making peer to peer transfers to other users.

Crypto.com App users can earn token rewards when trading is used in select cases by staking Crypto.com.

You can also earn annual interest up to 10-12% on your Crypto.com Coins by staking them using the Crypto.com Exchange or Crypto.com’s metallic Visa Card.

CRO serves as an instrument that supports Crypto.com in its efforts to promote cryptocurrency adoption worldwide. CRO continues to work on new use cases, which will enable users to leverage cryptocurrency to improve their control over their money and data.

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