Crypto.com Coin (CCC:CRO-USD) has a current price of around 72 cents and is ranked No. 14 among top cryptocurrencies by market capitalization. Crypto.com Coin has a market cap of $18.3 billion, a circulating supply of 25.3 billion CRO coins and a maximum supply of 30.3 billion CRO coins. There is one major factor that makes CRO stand out from most worthless altcoins: It has utility.

A concept image of the Crypto.com Coin token, CRO.

Source: Stanslavs / Shutterstock.com

Like other cryptocurrencies, Crypto.com coin has surged in 2021, delivering incredible gains to investors, especially for anyone who bought in early. At the beginning of the year, CRO was 5.9 cents. That’s a remarkable return of over 1,100%. What is next for Crypto.com Coin?

“Fortune Favors the Brave”

On its official website, Crypto.com has a promotional video starring Matt Damon highlighting the phrase “fortune favors the brave.”

What, then, is brave about CRO?

First of all, you should know that Crypto.com Coin (CRO) is the native token of Crypto.com Chain, “a decentralized, open-source blockchain developed by the Crypto.com payment, trading and financial services company.”

Crypto.com has a bold vision. It is stated on its website that “We are a community building the future of the internet: Web3. Powered by cryptocurrency, Web3 will be more fair and equitable, owned by the builders, creators and users. … Undeterred, we embrace the moment and commit. We build day by day, block by block, to give everyone control over their money, data and identity.”

These words may seem like just another marketing pitch, but a closer look at the Crypto.com Chain shows that many positive developments and news exist. Unlike speculative altcoins with no utility like Dogecoin (CCC:DOGE-USD) or Shiba-Inu (CCC:SHIB-USD), Crypto.com Coin is a lot different.

The Utility of Crypto.com Coin

I do not know if Crypto.com will succeed in being a major Web3 platform. It seems like a bold bet. What is true now, though, is that Crypto.com app has more than 10 million users and plenty of useful features.

The most notable features are:

  • Buying and selling crypto with advanced trading
  • Investing in NFTs (non-fungible tokens)
  • Holding a Crypto.com card
  • Access to loans
  • Earning up to 14.5% annually
  • Earning interest from DeFi protocols
  • Accepting crypto payments as a merchant

Another very important factor that adds credibility to Crypto.com is its electronic money institution (EMI) license from the Malta Financial Services Authority. It is the first cryptocurrency platform to receive this license, and it’s what allows the company to issue cards.

Crypto.com Coin Partnerships

Crypto.com has a strategic partnership with Ledger, holding all user cryptocurrencies offline in cold storage. The company has a strong focus on security.

Crypto.com has several important partnerships that show its commitment to pursuing its strategic goals and building its brand name. Some of the notable partners include F1, UFC, Paris Saint Germain and Aston Martin Cognizant Formula One Team.

I see a lot of value in using Formula One for promotion. Formula One is very popular reaching hundreds of millions of spectators. Sponsoring it is a very smart move both from a marketing and business perspective.

On the whole, I am not a supporter of the cryptocurrency market. However, I like the utility of Crypto.com Coin. It has plenty of valuable uses. It is one of the cryptocurrencies that — if I was to invest in the cryptocurrency market — I would monitor closely.

On the date of publication, Stavros Georgiadis, CFA did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Stavros Georgiadis is a CFA charter holder, an Equity Research Analyst, and an Economist. He focuses on U.S. stocks and has his own stock market blog at thestockmarketontheinternet.com/. He has written in the past various articles for other publications and can be reached on Twitter and on LinkedIn.

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Please, do your own research (DYOR). This cryptocurrency market analysis post was culled from Investorsplace