What is Celo (CELO) Coin
Celo is a blockchain ecosystem focused on increasing cryptocurrency adoption among smartphone users. By using phone numbers as public keys, Celo hopes to introduce the world’s billions of smartphone owners, including those without banking access, to transacting in cryptocurrency.
The network also allows for the creation of smart contracts and decentralized applications (DApps) as part of decentralized finance (DeFi). Its mainnet was launched in April 2020.
The platform has two native tokens. CELO is a proof-of-stake (PoS) token used for transaction fees, governance participation and related activities. In future, the platform aims to host various stablecoins, with one, the Celo Dollar (CUSD), already in use.
- Celo is an open platform that supports a variety of distributed applications, smart contract development and payments using e-mail addresses and phone numbers as public keys.
- Celo proposes address-based encryption, a variant on identity-based encryption, directly using an e-mail address or phone number as a public key.
CELO is the native token of Celo and has the following use cases:
- Governance: vote on network governance decisions via staking.
- Network Security: stake CELO tokens to secure the network, participate in consensus and earn rewards.
- Transaction Fees: pay for on-chain transactions.
The Celo ecosystem contains the following key components:
- Celo Protocol: proof-of-stake blockchain protocol that uses phone numbers and e-mail addresses as public keys.
- cUSD (Celo Dollar): stablecoin pegged to the US dollar backed by a reserve of crypto assets.
- Celo Developer Wallet: send, receive and swap cUSD and CELO test tokens using decentralized phone number verification.
How To Buy Celo (CELO) Coin
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy Celo coin question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
2.Step: Complete your registration by typing an email to the email section or typing your phone number on the section available on the mobile tab. Click/tap on the “Buy Crypto with Your Credit Card” option after the registration and verify your identity.
3.Step: Continue the process by typing the amount you would like to invest and your preferred cryptocurrency. Keep in mind that for security reasons, your credit card/debit cardholder information must match with the name available on your account. If you would like to buy cryptocurrencies with a wire transfer, you need to follow the Buy Crypto > Third-Party Payment options to pick your preferred fiat currency to buy cryptocurrencies.
4.Step: If the cryptocurrency you are planning to buy is not available on the list, buy USDT “You can always redeem 1 USDT Coin for US $1.00”. You can buy any coin you want with USDT by following Buy-Sell > Classic steps. We have provided the answer to How to buy Celo coin, now you can view the cryptocurrencies you bought by clicking on the wallet summary available on your Binance account. You can sell your assets when their value increases, or you can withdraw them to your bank account in desired fiat currency.
How Much is a Celo (CELO) Coin
Celo (CELO) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
Celo (CELO) Coin Review
You can learn more about Celo (CELO) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Website https://celo.org/ Whitepaper https://celo.org/papers Github https://github.com/celo-org Medium https://medium.com/celoorg Documentation https://docs.celo.org/ Telegram https://t.me/celoplatform Youtube https://youtube.com/channel/UCCZgos_YAJSXm5QX5D5Wkcw