What is CELO
Celo is a blockchain-based ecosystem which is aimed at increasing cryptocurrency adoption among smartphone users. It allows people to buy, sell and hold cryptocurrencies such as Bitcoin and Ethereum; store cryptocurrency; cash out into fiat currency, via instant direct debit to your bank account; and transfer funds in seconds with low transaction fees compared to existing payment methods like credit cards.
By using phone numbers as public keys, Celo hopes to settle the world’s billions of smartphone owners including those without banking access, to transact in cryptocurrency.
The network which allows for the creation of smart contracts and decentralized applications as part of decentralized finance also launched its mainnet in April 2020.
The platform has two native tokens: CELO is a PoS token for transaction fees, governance participation and other related activities. In the future, it’ll also host other coins like the Celo Dollar (CUSD), and offer a variety of payment methods.
The Celo platform is a decentralized cloud computing network and platform for running applications. The network provides a new, sustainable and much more efficient alternative to existing cloud services.
We know that many people are starting to care about their privacy when they use the internet. With Celo there is no need to worry about any of that because all your data is encrypted and distributed in such a way that nobody can see it.
Where and How to Buy CELO Crypto
- Sign up to an exchange which trades CELO
- Fund it with cryptocurrency
- Trade your crypto for CELO
Sign up to an Exchange
We recommend Binance? This for a number of reasons
Binance is one of the most popular cryptocurrency trading platforms. It was founded by Changpeng Zhao, who is also the CEO of Binance, in 2017.
Binance has gained its popularity for hosting a wide range of digital tokens and coins. It provides users with a secure and instant platform to trade cryptocurrencies without any hassle.
The company also offers incentives like Binance coin (BNB) to its traders, which lets them enjoy discounts on certain fees.
All these features have made Binance one of the best places to trade cryptocurrencies, as it provides traders with plenty of options for both short-term and long-term investments.
Binance has been around for a few years now and still, it is one of the fastest growing and most trusted cryptocurrency exchange.
It is known as the first “decentralized” cryptocurrency exchange and it just recently celebrated its second successful year of operation.
Binance has a wide array of coins to trade at low trading fees and offers both basic and advanced features for experienced traders.
It’s no wonder why Binance is such a good place to trade cryptocurrencies.
We can say that Binance is a good place to trade and invest because of the following:
-The company has its headquarters in Hong Kong. And because of this, they are not subject to any regulations from mainland China or Japan.
-Binance also provides a wide range of digital assets. And it offers one of the lowest rates in the industry when it comes to withdrawal fees.
-Binance has a beginner friendly interface which makes trading easier for anyone who is new to the space.
Binance is one of the best cryptocurrency exchanges in the market. It has some of the lowest fees on the market and very high liquidity.
Binance has an easy to use interface with some of the best security features on the market. One can trade on Binance with just a few clicks while also having access to advanced features that are not available at other exchanges.
Fund your Binance account
Now you need to transfer BTC in order to trade CELO with it.
It’s really easy to buy BTC with your debit card on binance.
You can transfer your funds from your bank account or use our other options to make the process easier for you.
You can also setup recurring orders! which is another great option for Binance which other platforms don’t offer. In order to make it easier for customers to set up recurring orders on Binance, the company released an official guideline which makes it clear.
Trade your BTC for CELO
We now need to get into our trading section of the guide.
To do this follow the above picture and click on Classic!
Now we have to find the correct pair BTC/ CELO
Now type CELO in the top corner like i did.
If you are new to the market, the stock market can be a confusing place. Let’s break down some of the most basic terms you need to know in order to get started.
– Market order: this order type is executed immediately. This means that your trade will execute as soon as possible and the price of the trade will not change.
– Limit order: this order type is put in place so that your trade executes for a specific price and does not execute until it reaches that specified price.
Is CELO a good investment?
Celo’s unique offer is that it focusses on smartphone customers. The company has noticed that smartphones are becoming the preferred type of mobile, but cryptocurrency adoption is much slower.
Cryptocurrency is a good option for people in regions without access to the banking sector who still have smartphones.
Bridging the gap between two different technologies is Celo’s goal. They also want to take advantage of decentralized finance by supporting the creation of DApps and smart contracts.
With Celo you don’t have to worry about manually calculating transaction fees on your mobile device, and you can opt to pay your gas fees in the currency of your choice.