Quick Guide about Celo and Its Native Token $CELO
Celo wants to make bitcoin transactions accessible to the billions of smartphone users worldwide, even those without access to banks, by using phone numbers as public keys.
What Is Celo (CELO)?
A blockchain ecosystem called Celo is dedicated to boosting smartphone users’ acceptance of cryptocurrencies. As part of decentralized finance, the network also permits the development of smart contracts and decentralized apps (DApps) (DeFi).
$CELO Token and Celo Stablecoins
A proof-of-stake (PoS) cryptocurrency known as CELO is employed for transaction costs, governance participation, and related tasks. The network intends to host a number of stablecoins in the future; three, the Celo Dollar (CUSD), Celo Euro (CEUR), and Celo Brazilian Real (CREAL), are now operational.
Celo Vision and What Problems Does It Solve
Focusing on smartphone consumers is Celo’s key differentiator. The business claims that while the number of smartphone users is growing at a far slower rate than smartphone ownership, it is growing exponentially. Additionally, cryptocurrency is well suited to areas where a sizable portion of the populace lacks access to banking services but still owns a smartphone.
Celo wants to bridge the gap between the two technologies and take advantage of DeFi’s advantages by encouraging the development of DApps and smart contracts. The Celo blockchain, which is mobile-optimized, calculates transaction costs automatically and lets users pay the gas fees that fuel transactions in any currency.
Security and Governance
To preserve security, Celo uses proof-of-stake, and it has a difficult election procedure to choose the blockchain validators.
Owners of CELO may vote for different validator groups in elections using their holdings as a means of participation.
Where to store Celo (CELO)
An alternative wallet provider for Celo token holders can be Trust Wallet, a multi-currency mobile wallet that enables users to simultaneously store a variety of digital assets in one place. Popular among traders and gamers, the beginner-friendly mobile wallet may be appropriate for users looking for a convenient and accessible app, with trusted security and backup options.
If you are looking for a cold storage wallet to keep your $CELO tokens offline safe, we recommend using the leading hardware providers Trezor and Ledger.
MathWallet is a multi-platform crypto wallet that supports more than 50 public blockchains and enables the storage of Bitcoin and major altcoins like Ethereum, EOS, Tron, and more. Additionally, it features cross-chain token exchanges, a multi-chain DApp store, and operates nodes for the PoS chain.
Celo wallet is a simple, lightweight wallet for the Celo network. Manage your funds in a browser or on your desktop.
Where to buy and sell Celo (CELO)
You can Buy & Sell Celo (CELO) by heading over to the Buy Coins page of our website. Celo (CELO) is available on BC Bitcoin, trading against major fiat currencies: GBP and EUR. Buying $CELO has never been easier, simply place your order and provide your wallet address. Once your payment arrives Celo (CELO) will be sent directly to your wallet.
If you choose to Sell Celo (CELO) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on our Sell Coins page.
Celo (CELO) Resources:
Website: https://celo.org/
Block Explorer: https://explorer.celo.org/blocks
Twitter: https://twitter.com/CeloOrg
Medium: https://medium.com/celoorg
Disclaimer: The information provided in this article is intended for informational purposes only. It is the reader’s responsibility to complete their own research and due diligence.
