Crypto investors make it their strategy to diversify their portfolios as much as possible. But are there some coins investors should avoid? This article provides readers with some brief details about Crypto.com Coin versus Shiba Inu.
The Crypto.com Coin (CRO) was developed by Kris Marszalek, Rafael Melo, Gary Or, and Bobby Bao, who are also the founders of Crypto.com. Their stated goal was to put cryptocurrency in every wallet. The CRO blockchain facilitates the site's services.
CRO allows users to make payments, trade, and use various other financial services. The advantages of CRO are that users can stake it and earn fees from every transaction processed or use the coins to pay transaction fees on the website. With Crypto.com being an exchange and trading app, the latter is really useful for loyal users.
Shiba Inu (SHIB) does not have the utility of CRO or similar coins and tokens, and its use is very narrowly focused. It is one of dozens of dog-themed cryptocurrencies, most notably Dogecoin. One of the supposed reasons this token exists is to fundraise to rescue Shiba Inu dogs. Some people developed this token to rival Dogecoin. One of the first major endorsements for people to buy SHIB came from Elon Musk, who mentioned the token on his Twitter.
The willingness of the token’s creators to rescue dogs is noble; however, no one knows who the creators are, which is not a good sign. Often, coins and tokens with similar attributes are created solely to trick investors. (Note, that SHIB is a token. It exists on the Ethereum blockchain.)
However, the community for supporters of SHIB made it so that people in the crypto industry started to view it seriously.
In many ways, Shiba Inu looks like a better token than CRO, at least on paper. This is because it has a higher market cap, liquidity, and trading volume. However, as earlier stated, it is a meme token, and investors know nothing about its creators, and people who operate that way may have something to hide — so, suspicious. On the other hand, right now SHIB is the main currency of an actively developing exchange platform called ShibaSwap. The trading volume there is substantial, and the two companion tokens for trading are LEASH and BONE, which have also come from memes and now exist in SHIB’s ecosystem. Right now, ShibaSwap hosts platforms for trading NFTs and other digital items and a DeFi platform.
CRO may not have the attributes of SHIB, but at least investors know who is behind it, which means it is much less likely to exist as a means to defraud investors. In comparison CRO vs SHIB, CRO is more reliable in terms of investments and has a wider range of applications.
SHIB has performed poorly since its creation, but that should be no surprise to investors. As of January 2022, it has experienced two sharp rises in prices, once in May 2021 again in October the same year. Each time the price fell as sharply as it rose, which indicates a “pump-and-dump” scheme, also known as securities fraud. But even at its highest price, SHIB never was very valuable. Right now, about 900k people all over the world have SHIB tokens in their virtual pockets.
But, for comparison of Crypto.com Coin vs Shiba Inu, it’s important to understand that CRO has never been a very valuable token either. Before November 2021, it never rose higher than 25 cents in value, but that month it shot up to nearly a dollar until it tumbled back down again. But when it dropped, it still retained some value, so there is the potential for it to go up again. On the other hand, as any popular resource on the market, Crypto.com attracts hackers: in January 2022, the platform detected suspicious activity in several of the recently-created wallets. The company needed to block withdrawals. The hackers seemed to be using a security hole, getting to reserve copies of users’ credentials that are supposed to be used to help users recover their access. They admitted that it’s to create a strategy that will patch up this vulnerability.
Let’s conclude our CRO vs SHIB analysis. SHIB is something investors should avoid unless they think they can sell just in the nick of time the next time it is subject to speculation. It cannot be mentioned enough that coins and tokens created by anonymous developers are high-risk investments. Yes, there are exceptions, notably Bitcoin, but those exceptions are not the rule. CRO may not be as valuable as other tokens, but a reputable company made it, and there is room for growth as long as the developers continue to improve its underlying technology.
The best way to compare any exchange pair is to look at charts detailing price history and search for patterns. Doing this enables investors to make educated guesses about how a coin or token will perform. It is also important to look at the market cap, liquidity, and trading volume. A CRO to SHIB exchange will provide this information for free.
The most likely reason why, in Crypto.com Coin vs Shiba Inu opposition, CRO is more valuable than SHIB is that it is a reputable token, and investors know who is behind it. Sadly, that is not the case with SHIB. Also, CRO has utility, unlike SHIB, as owners can stake it on Crypto.com and collect passive income. That cannot be done with SHIB.
So, what to invest in: CRO or SHIB? CRO is much more profitable than SHIB. SHIB has never risen more than a fraction of the dollar in terms of value, even when speculators were driving up the price. CRO is significantly more valuable and was so even before it reached its record high last autumn. Anyone who invested in CRO early on and stuck with it saw a high return on his investment. It is doubtful that SHIB will ever be as profitable as CRO or other tokens. But, considering the fact almost every company in the crypto industry is subjected to the intense focus of cybercriminals, you need to do your own research into the latest leaks and reports of suspicious activity when working with all coins and tokens out there.
