If you’re wondering how to buy Cronos (CRO) in Canada, you’ve come to the right place. This post will walk you through exactly how to buy it using Newton, one of the top-rated crypto exchanges in Canada and the easiest way for Canadians to buy Cronos.
Newton is a particularly good choice for buying and selling Cronos because it verifies accounts instantly, supports more than 75 crypto assets, and has zero trading fees (aside from the spread). If you’re serious about crypto investing and want to work with a reputable, reliable exchange, I highly recommend Newton.
What Is Cronos (CRO)?
Launched in 2018 by Crypto.com founders Kris Marszalek, Rafael Melo, Gary Or and Bobby Bao, Cronos (CRO) is a decentralized blockchain network whose main purpose is to offer avenues for global adoption of cryptocurrencies as a means of decentralizing the economy while keeping the privacy of its users.
Cronos was launched by Crypto.com, one of the largest crypto exchanges in the world, as a rebrand of the Crypto.com Coin, following Binance renaming its blockchain network. Cronos’ founders’ idea was to support the next generation of Web3 applications, including an expansion into the Metaverse, GameFi and NFT ecosystems. Cronos maintains interoperability between blockchains using VirtualMachines (VM) and supports the development of new platforms.
Cronos is connected with Ethereum and all blockchain networks compatible with the Ethereum Virtual Machine (EVM) and recently announced interoperability with the Cosmos network.
Cronos’ network is secured with a Proof of Authority (PoA) consensus algorithm, relying on reputable validators providing the necessary computing power. To validate transactions, the algorithm uses a Byzantine Fault Tolerance (BFT) system to establish reputability: it requires at least two-thirds of agreement between all nodes. The Cronos network was hacked in early 2022, but no funds were lost.
Here are some other quick facts about Cronos:
|Asset Type||Blockchain Network|
|Market Cap||$9,691,914,259 USD|
|All Time High||$0.965407 USD|
|All Time High Date||Nov 24, 2021|
Why you should trust me
ExperiencedI bought my first cryptocurrency (Bitcoin) in 2013, bought Ethereum in 2017, and have held active accounts with at least 5 exchanges since 2018.
UnbiasedAll of my selections are supported by multiple data points, including crypto thought leaders, security experts, and TrustPilot reviews.
Deep ResearchMy team and I spent more than 100 hours researching exchanges before choosing our top picks, and we update them almost daily as the industry continues to change.
Where To Buy Cronos In Canada
Here’s how to buy Cronos in Canada smoothly and easily:
1. Open Your Newton Account
Opening a Newton account is easy: go to their website, enter your name and email, and follow the prompts to upload a piece of government-issued ID to verify your account.
If you sign up using my referral link, you’ll get a $25 signup bonus upon depositing $100 or more into your account.
2. Fund Your Newton Account
Canadians can fund their Newton account through Interac e-transfer, wire transfer, or cryptocurrency transfer from an external wallet. I recommend Interac e-transfer, since it’s fast, easy, and totally free.
Your funds will appear in your account in 30 minutes or less.
3. Buy Cronos With Newton
Once you’ve funded your account, you can go ahead and buy however much Cronos you want. To do that with Newton, log in to the app or web platform, tap Trade (the icon with two arrows), enter the dollar amount you wish to purchase, and select Cronos from the dropdown menu.
Your order will be processed immediately, and your Cronos will show up in your account right away. And that’s it—you just bought Cronos!
Zero Trading Fees
Spreads: 0.2% – 0.7%
Why Newton Is Great For Buying Cronos
There are many reasons Newton is my exchange of choice for buying Cronos, but here are just three:
1. Extremely Low Fees
Newton doesn’t charge any trading fees, deposit fees, withdrawal fees, or any other types of fees you can think of. They even cover the first $5 on every crypto withdrawal, going above and beyond to save you money.
The only way Newton will make money your trades is through a narrow spread that’s charged on each trade. Newton’s spreads are very competitive with other exchanges, and you can see its live spread on Cronos on its Fees page.
2. Wide Variety Of Coins
Newton currently supports more than 75 crypto assets, so if you want to trade other altcoins aside from Cronos, Newton is your best bet for finding them.
3. Designed For Canadians
If you use a non-Canadian exchange, you generally have to fund your account with US dollars and pay foreign exchange fees ranging anywhere from 2-5%. Newton is a Canadian exchange, though, so you can fund your account directly with Canadian dollars without any fees.
Other benefits of Newton include the ability to fund your account via Interac e-transfer or from your Canadian bank account for free, plus the knowledge that you’re using a homegrown exchange that follows all current and anticipated Canadian regulations, ensuring your funds and crypto are always fully secure.
Where To Store Cronos
Storing Cronos is easy as long as you have the right crypto wallet to protect it and keep it secure. There are dozens of different wallets out there, each with their own set of features, many of which cost $100 or more to buy.
I personally suggest using ZenGo, a free software wallet that supports 70+ crypto assets and is as easy to use as a banking app. Other benefits of using ZenGo include:
- ZenGo’s proprietary keyless technology means only you can access your coins
- Cloud backups allow you to access your coins even if your phone is lost or stolen
- Open an account in 30 seconds
- $10 bonus when using my signup link and the promo code ZENX0B4G
Here’s how to get started with ZenGo:
- Open your account using this signup link and the promo code ZENX0B4G for a $10 bonus upon making your first transaction.
- Transfer crypto from an external wallet or buy some direct from the ZenGo app.
- Receive your $10 bonus.
#1 Best Overall
Supports: 70+ crypto assets
Here’s how to buy Cronos in Canada:
- Open a Newton account using my referral link to get your $25 signup bonus.
- Deposit Canadian dollars into your Newton account with zero fees.
- Exchange dollars into Cronos with no commissions—you just pay the spread.
Buying Cronos In Canada FAQs
What Fees Are Involved With Buying Cronos?
Newton doesn’t charge any trading fees or commissions on Cronos, so you just pay a spread of around 0.2% – 0.7%.
Which Canadian Exchanges Offer Cronos?
Newton is the only exchange Canadians can use to buy Cronos today. Other exchanges like CoinSmart and Bitbuy may add support for Cronos in the future, but right now, Newton is the only option Canadians have.
How Do I Sell Cronos In Canada?
To sell Cronos, log in to your Newton account, go to Market -> Exchange (the arrows in the bottom-right of the app), and then set up the trade by entering the amount of Cronos you wish to sell. Once the sale is complete, you can withdraw your fiat currency into your bank account via Interac e-transfer or direct deposit.
Alternatively, if you wish to transfer your Cronos to a wallet outside of Newton, go to Market -> Exchange -> Withdraw -> Crypto to Wallet, select Cronos from the dropdown list, and enter your external wallet address. Always double-check your external wallet address before processing your withdrawal request, as cryptocurrency transactions can’t be reversed once they’ve been submitted.
Is Cronos A Good Investment?
At its current price of $0.3826 USD, Cronos is down 60.37% from its all-time high of $0.965407 USD on Nov 24, 2021. If the past is any indication, though, there’s a good chance Cronos will increase from here and challenge its all-time high again, probably when Bitcoin approaches its all-time high, too.
Of course, all cryptocurrency investments are volatile and uncertain, so I recommend that you only invest money you can afford to lose.
Cronos Price Prediction
Our price prediction for Cronos is $1.54 USD within 12 months. This equates to an increase of 302% from its current price of $0.3826 USD, and assumes that Bitcoin will surpass its all-time high of $69,045 USD in the next 12 months, too.