To put it in two lines, Chromia is a blockchain platform that facilitates the building decentralized apps (DApps). CHR is its native cryptocurrency token that operates well on the Ethereum platform. This article shall guide you through various steps to buy CHR Coin quickly and effectively. Furthermore, we shall also talk about the points to keep in mind while investing in Chromia tokens.
Table of Contents
- Chromia is a blockchain platform that enables the building of decentralized apps. Moreover, it is extremely fast as compared to its counterparts in delivering codes.
- Chromia public blockchain powers various multiplayer blockchain building games, Enterprise initiatives, LAC Property Chain, etc.
- CHR or Chroma is the native cryptocurrency of the Chromia blockchain platform.
- Chroma is a multi-purpose cryptocurrency that can be used for paying hosting fees, facilitating ecosystem staking, fulfilling system-wide purposes, or as a platform cryptocurrency.
- Furthermore, you can easily buy and trade Chroma cryptocurrency on various cryptocurrency exchange platforms such as Binance, CoinDCX, WazirX, Huobi Global, and KuCoin.
- Chroma cryptocurrency has excellent potential; however, you should invest after conducting proper research and taking due precautions to reap its benefits.
What is Chromia?
To make a successful and fruitful investment in Chromia token, it is essential to develop a fundamental understanding of the same. So let’s get started!
Chromia is a combination of blockchain and relational database technology. It is used worldwide to create decentralized applications. The advantage associated with the Chromia platform is that it delivers the code seven to ten times faster than any other platform. Moreover, its independent layer for faster shipping is considered as layer two to Ethereum.
Multiplayer blockchain building games like My neighbor Alice, Enterprise initiatives like LAC PropertyChain are powered by Chromia public blockchain. Furthermore, Defi platforms like Hedget and Decentralized apps like Green Assets Wallet are also developed on Chromia Platform.
What is Chroma (CHR)?
In simple language, CHR cryptocurrency, aka Chroma, is the native token developed to empower The Chromia platform. Initially designed to foster the benefits of investors, developers, and users, Chromia crypto (CHR) can be used for various purposes. Firstly, it can be used as a platform currency. Secondly, one can also use it for payment of hosting fees. Thirdly, the CHR coin facilitates ecosystem staking, and finally, it fulfills system-wide purposes. To learn more about the CHR token ecosystem, read its whitepaper.
Where to buy CHR Coin?
CHR coin is available on major cryptocurrency exchange platforms like-
Read our blog Best cryptocurrency exchange platforms to get a better understanding of the same.
Other than that, you can also acquire CHR on Decentralized exchange platforms like-
Swap platforms like SwapSpace also extend their services to include CHR.
You can easily install the apps on your android or iOS system to operate from your mobile phones. Furthermore, you can simply log into your account on the website using your laptop or PC.
How to buy CHR on Binance?
Binance is the most prominent and trusted cryptocurrency exchange platform around the world. It provides buying, selling, trading, staking, and various other services at competitive fees. Read our Binance review to get a better understanding of the same.
You cannot directly buy CHR coins with USD and other fiat currencies on Binance. However, you can still very quickly acquire CHR on Binance by exchanging it for BTC or USDT.
- Create or sign in to your account on Binance using your email id or phone number.
- Select the ‘Buy crypto (USD)’ option in the upper left corner. Then, in the drop-down list, opt for ‘the Credit/ Debit Card’ option.
- Select the fiat currency in which you would like to invest (here USD).
- Thereafter, select BTC in the coin, and hit the ‘Buy BTC’ option to begin credit card purchase of BTC.
- After successfully buying BTC, go to the trade section on Binance.
- Select the CHR/ BTC pair.
- Now an exchange page will appear on the screen with price charts. Select the market option.
- Fill in the amount of CHR you would like to buy and click on the ‘BUY CHR’ button.
- Confirm the transaction and wait for the order to complete.
Buy CHR on SimpleSwap
You can easily buy CHR coins on Decentralized platforms like SimpleSwap and pancakeswap. The step-by-step guide is given below.
- Visit the SimpleSwap website.
- In the first drop-down box, select the BTC (or any cryptocurrency you wish to swap).
- Enter the amount you want to swap.
- Now in the second drop-down list, select CHR. Again, an estimated amount that you will receive would be shown to you.
- Enter the address of the recipient.
- Click the ‘Exchange’ option after confirming the details.
- Transfer the required amount of BTC to the bitcoin deposit address to start an exchange.
How to buy a CHR coin in India?
Cryptocurrency exchange platforms like WazirX and CoinDCX facilitate the easy buying, selling, and trading of CHR coins in India. Today we’ll guide you through the process of buying CHR coins on CoinDCX in India.
There are two ways of buying CHR coins on CoinDCX
Buy CHR on CoinDCX
First, deposit funds by UPI payment using DCXinsta
- Sign up or sign in to your CoinDCX account and go on DCXinsta.
- Input the amount you’d like to spend to buy CHR in the INR bar.
- Then proceed with depositing funds and click on the confirm button.
- Once you receive the funds in your wallet head over to CoinDCX Spot trading tab.
Second, Buy CHR on CoinDCX
- Visit CoinDCX and log in to your account.
- Go to the ‘Spot Market’ section. Input CHR in the search bar and select the ‘CHR/ INR’ pair.
- Click on the Buy button.
- Thereafter, select the limit price and enter the amount of CHR you’d like to buy.
- Click on the ‘Green/ Buy’ option and confirm the transaction.
Buy CHR: Pros and Cons
- Chromia platform is considered as layer two to Ethereum platform.
- Especially for decentralized applications, CHR is ideal for resource use fees.
- Chromia has to still come up with a way to deal with the evils of counterfeiting money in the digital space.
- Chromia is not an unique product and with as ETH 2.0 is expected to launch in the future, we cannot assert what the future holds for CHR.
Buy CHR: Conclusion
With the growth of the blockchain industry, the importance and potential of relational blockchain also increase. CHR is the native cryptocurrency of Chromia and has established its prominence in the cryptocurrency market. It is ideal for dapp to dapp transactions in particular.
You can easily buy, sell and trade CHR on various cryptocurrency exchange platforms like Binance, CoinDCX, etc. Moreover, decentralized exchange platforms like SimpleSwap also support Chroma cryptocurrency. However, you should keep yourself updated with all the new changes in the Chromium blockchain and make an informed decision. Finally, you can buy CHR on the platforms below:
Frequently Asked Questions
What is CHR coin price prediction?
It is impossible to predict the price of any cryptocurrency. However, one can stay updated with the current price and Tokenomics of CHR on Coinmarketcap.
How to stake CHR?
You can stake CHR through various platforms such as Binance, KuCoin, etc. Furthermore, you can also find numerous staking pools online. To learn more, read our Staking Crypto – An Ultimate Guide on Crypto Staking.
How to mine CHR token?
CHR is not a mineable token, i.e., Chromia does not facilitate CHR coin mining.
How to store CHR coins?
You can easily store CHR coins in any of the Ethereum wallets. Some of the best CHR Wallets can be:-
Ledger Nano S, TREZOR, BlueExodus, etc. The point to keep in mind is holding your private key. Read our blog on the best crypto wallet to make a more informed decision. Furthermore, you can also stake your CHR tokens using the Ledger Live app.