Quick summary: Our recommendation is to use eToro to short Cronos. They have the most popular cryptocurrencies on offer, great support, and have an easy system for shorting cryptocurrencies in general.

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Cronos

While there are a lot of options out there for buying CRO, shorting is a different story. Luckily for us here in Australia, we do have a few crypto brokers and exchanges that allow for CFDs and shorting.

One of those brokers is eToro, which we’ll be using for this guide. Let’s get started!

How to Short Cronos in Australia

A quick recap first on what shorting actually is: The main objective of shorting or short selling is to make a profit (of course). The idea is to sell a stock/cryptocurrency hoping it will drop in value so you can buy it back later for cheaper, thus creating a net profit.

Shorting Cronos can be done in 4 easy steps:

  1. Choose a crypto broker or exchange
  2. Create an account
  3. Fund your account
  4. Short Cronos

1. Choose a crypto trading platform

As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.

You can, of course, use any other crypto broker to follow along, they all work very similarly.

2. Create an account on the cryptocurrency trading platform

Let’s start with just signing up with eToro.

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The sign-up process is very quick and easy, as is the verification that needs to be completed afterwards so you can get started.

3. Funding your eToro account

Next is funding your account. You have several options when it comes to depositing AUD into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.

4. Short Cronos

Now for the actual shorting:

  • Starting off at the search bar at the top, find Cronos by entering the name or symbol.
  • Then on the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
  • At the top of the trading interface: Click on sell to short sell the stock.
  • Enter the amount for which you want to sell Cronos and click on “Open Trade”.

Once you’re ready to close the trade, hopefully when the value of Cronos has dropped, go to your Portfolio, find the Cronos trade, and click on the red cross to close the trade.

If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.

Congratulations, now you know how to short Cronos!

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Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.

Where to Short Cronos (CRO)

Aside from eToro, the other major exchange you can use is Binance.

While Binance tends to be a bit more complex compared to eToro, they do have more cryptocurrencies on offer.

Frequently Asked Questions

Can I short Cronos on Binance?

Yes, you can short Cronos on Binance. They have over 300 cryptocurrencies on offer and specialise in the crypto market. They also have a great app and competitive fees.

About Cronos

Cronos (CRO), is the native cryptocurrency to Cronos Chain. It's a decentralized, open source blockchain that was developed by Crypto.com for trading, payment and financial services.

Cronos Chain, one of Crypto.com’s solutions to accelerate the adoption of cryptocurrency as a way to increase personal control over their money, protect user data and protect users' identities is one of the products. The CRO blockchain is primarily used to power Crypto.com's mobile payments app, Crypto.comPay.

Crypto.com intends to increase the reach of its CRO platform to support its other products in the future.

CRO went live November-December 2018.

Cronos was created by Crypto.com to help it achieve its vision of "putting crypto in every wallet."

Crypto.com's CRO blockchain is focused primarily on providing utility to users of its payment, trading, and financial services solutions.

To serve as a validator, Crypto.com Chain owners can stake their coins to earn fees for processing transactions. Also, CRO coins are available to settle transaction fees via the Cronos Chain.

The Crypto.com Pay Payments app allows users to get cashback upto 20% from merchants in CRO, and as much as 10% for purchasing gift cards and peer-to–peer transfers to other customers.

Crypto.com App offers token rewards for trading use cases by staking Crypto.com ORO.

By staking your Crypto.com Coins on the Crypto.com Exchange App or Crypto.com's Metal Visa Card, you can earn an annual interest of up 10-12%.

CRO functions as an instrument to support Crypto.com's global drive for cryptocurrency adoption. CRO is constantly developing new use cases to allow users to harness cryptocurrency to increase their control over money, data, and identities.

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