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CRO Deposit & Withdrawal Information on Exchange
CRO Deposit & Withdrawal Information on Exchange

Information about ERC20 and native CRO transfers

Valery avatar
Written by Valery
Updated over a week ago

Native CRO Network on the Crypto.com Exchange And the Benefits

The Crypto.com Exchange is now supporting CRO transfers on the native CRO network (also known as the Cronos Chain Mainnet).

Cronos Chain is a public, open-source and permissionless blockchain - a fully decentralized network with high speed and low fees, designed to be a public good that helps drive mass adoption of blockchain technology through use cases like Payments, DeFi and NFTs.

Cronos Chain has the following key-value propositions:

Learn more about the Cronos Chain.

Prior to the Mainnet launch, all CRO transfers on the Exchange are processed on the Ethereum network called ERC20. ERC20 CRO tokens are created and hosted on the Ethereum blockchain, where ETH network fees are required to carry out crypto transactions.

The Benefits of native CRO network:

Customers have the option to withdraw native CRO on Cronos Chain which features a lower transaction fee than the Ethereum network. Additionally, the Cronos POS Chain is featured with a faster processing time than the Ethereum network, and this allows you to deposit and withdraw your Cronos Coin quicker than CRO (ERC20).

We highly recommend the existing CRO holders to transfer to the native CRO network as soon as possible to enjoy the benefits of the Cronos Chain.

How can I differentiate a wallet address registered on the Cronos Chain Mainnet?

  • A native CRO address on the Cronos Chain Mainnet starts with “cro…”. Also, a memo is required for sending native CRO to a centralized wallet.

  • An ERC20 CRO address on the Ethereum network starts with “0x…”

See Native (Mainnet) CRO vs ERC20 CRO comparison table below for more information.

How do I deposit and withdraw native CRO on my Exchange account?

The same way you would currently deposit and withdraw funds on the Crypto.com Exchange, simply follow the steps below:

  • To deposit on the Crypto.com Exchange, please reference this FAQ.

  • To withdraw on the Crypto.com Exchange, please reference this FAQ.

Native CRO vs ERC20 CRO

Difference

Native CRO

ERC20 CRO

Chain

Cronos Chain

Ethereum

Address Format

Starts with “cro…”

The memo is required for sending native CRO to a centralized wallet

Starts with “0x…”

Withdrawal Fee

In CRO:

~0.001 CRO (~$0.0002 USD)

In ETH:

~100 CRO (~$20 USD)

On-Chain Confirmation

10 seconds

5 to 30 mins

depending on the ETH network traffic and fee tier

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