• Low fees
• Trusted crypto brand
• Large amount of digital assets on offer

• Unregulated by top-tier financial authorities

What is Celo?

The Celo platform aims to be a global payment infrastructure that allows smartphone users to access cryptocurrencies. Given this, the Celo platform aims to be accessible to anyone globally who wants to send and receive payments from the comfort of their mobile phone.

Celo operates as a layer-1 smart contracts protocol that allows the development of decentralised applications (dApps) atop its network. These dApps are mainly used for community-driven initiatives and social causes.

Central to the operations of the Celo blockchain are two utility tokens comprising CELO and Celo Dollars (cUSD). CELO is used to govern the Celo blockchain and network transaction fees, while cUSD is a fiat-backed digital coin that mirrors the US Dollars’ price performance. Each cUSD is backed 1:1 ratio by the US Dollars.

Using a proof-of-stake (PoS) consensus architecture, the Celo blockchain processes more transactions than its proof-of-work (PoW) variants, making the protocol more suited for large scale transactions. For validators to power the blockchain, they need to stake or commit a minimum amount of 10,000 CELO tokens.

The Celo blockchain uses a unique variant of the PoS consensus protocol called the Byzantine Fault Tolerance (BFT) which ensures all 100 validator nodes are always in sync.

The mobile-friendly blockchain project runs on three major components: light, validator, and full nodes. The light nodes enable Celo blockchain applications to run on a user’s mobile device.

The validator nodes are distributed computer systems that validate transactions, add new blocks, and participate in consensus. The full nodes largely consist of distributed computers that bridge the light node and the validator node. They receive transactions from the light node and transfer them to the validator node for processing.

Is Celo a Good Investment?

Below are reasons why investors should invest in the Celo coin

1. Celo Is Widely Accessible

Celo blockchain borrows heavily from Bitcoin founder Satoshi Nakamoto’s vision of building a financial tool where anyone can connect to. The blockchain allows anyone with a smartphone device to send and receive cryptocurrencies for services rendered and received. This makes the protocol much more suited for mass adoption.

2. Celo is the WhatsApp for Money

Everyone remembers the widespread impact of WhatsApp’s social messaging application and how it changed the idea around instant messaging. Celo is scheduled to have this life-changing impact as it allows people to receive and send funds while using their mobile number as the wallet address.

3. Celo is User-focused

Celo’s concentration on the smartphone market shows its single-minded approach to solving the global unbanked crisis. For one, there are more people with mobile phones than those with residences and bank accounts. Celo’s tap into this huge ecosystem makes it a user-focused blockchain and not just one that allows the development of financial tools that are not accessible to anyone.

4. Crypto Boom Is Rising

Cryptocurrencies are becoming increasingly popular by the day, and blockchain protocols are set to play a crucial role in the nascent industry’s continued growth. Celo’s ability to bring this solution to the masses could help fast-track this process and position it as a protocol of choice in the coming years.

Celo Price

The Celo price has faced a series of bullish and bearish trends like the broader crypto market. Celo is gradually regaining most of its lost gains into the year on a limp and is currently trading at $2.682, down 3.82% in the last 24 hours.

However, Celo is known to have hit a high price peg of $10.66 in late August 2021, which points to a strong potential to make another bullish run. At the press time, CELO is currently trading below the 50-hour exponential moving average (EMA) price of $3.571. The moving average convergence and divergence (MACD) is currently neutral as the relative strength index (RSI) figure of 33.87 indicates that CELO is trading in the underbought region.

Celo Price Prediction

In the aspect of its future potential value, this is entirely up for grabs and can only be estimated using the current and past performance. Some popular forecast websites put their 1-year estimate at $4.949, with a five-year growth at $13.123.

Other crypto analysts are more conservative and estimate $4.24 by 2023 and $8.94 five years later. More optimistic analysts place their forecast price for Celo coin at $6.43 by 2023 and $41.38 by 2028.

Ways of Buying Celo

Now that you know where to buy CELO, here are some ways for you to purchase the coin.

    1. Buy CELO with PayPal

PayPal is arguably the biggest online payment processor in the world right now. The platform is convenient and ubiquitous, allowing hundreds of millions of people to make easy purchases. If you’re looking for how to buy CELO, this is a good way to do so. PayPal allows you to buy CELO Coin from your living room.

PayPal is available on eToro, Coinbase, and other platforms listed above. So, you can fund your wallet with money in your PayPal account directly.

Before using PayPal,  it is essential to ascertain how much the platform charges for making your purchase. Once you have ascertained the charges involved.

    2. Buy CELO with a credit card or debit card.

Credit and debit cards are also favoured for their convenience. Almost everyone has a card to make purchases, and most exchanges and brokerage platforms accept this method. So, you don’t need to worry about compatibility.

All platforms listed above allow you to buy CELO Coin with cards. So, the money moves from your bank account to your in-platform wallet.

Like PayPal, this method also has fees as the only concern. Card issuers charge different fees for their customers based on several factors, and you want to make sure that you’re fine with the charges before you proceed.

Best Celo Wallet

Now that you know how to buy CELO, it’s also important to know where to keep the coin. Crypto wallets are the best solution for this. They’re secure, making it easy for you to make coin transactions. The available crypto wallets include:

• Hardware wallets: Physical devices that aren’t connected to the internet. Although they’re not so easy for regular transactions, they’re the safest choice. However, it is worth noting that hardware wallets aren’t so great for people looking to send money instantly. By storing your coins in cold wallets, these devices take longer to process transactions.
• Software wallets: Programs on your computer that are installed and allow you to make transactions with a few taps. With software wallets, you will need to be careful with security. These wallets are installed on your device, so you have to ensure that there are no malicious programs or viruses that could creep in and steal your wallet information.
• Mobile wallets: Applications installed on your phone for making seamless transactions. Mobile wallets are especially great because they allow you to send and receive money instantly. However, you also need to be careful with your private keys and the wallets themselves.

Of all the wallets available, we recommend using the eToro Money wallet. This wallet is optimised for safety and convenience, allowing you to send money easily while keeping your funds safe.

Like eToro itself, the eToro Money wallet is our top choice for crypto wallets available. If you want to make easy transactions, this is your best bet.

eToro Money is a mobile wallet that allows you to send and receive money to and from any wallet at all. With easy compatibility and access to other wallets, this product opens you to the entire crypto market.

eToro Money comes with security features like two-factor authentication (2FA) and analytic behaviour machine learning. These features help the wallet to keep your funds safe, while also alerting you in case there’s ever-suspicious activity. The wallet also employs multiple levels of encryption, protecting your transactions from malicious characters.

Note, however, that the wallet doesn’t give you control of your private keys. eToro maintains control and custody of all private keys, but you can rest assured that the exchange won’t sign off on transactions without your consent. Also, if you lose access to your wallet, there’s a simple recovery process that you can follow to gain it back.

Also, keep eToro’s transaction limits in mind. You can’t send over $10,000 worth of coins in a single transaction, and eToro caps all daily transactions at $20,000. Monthly, your transaction limit is set to $50,000.

How to Buy Celo Crypto – Tutorial

Now, let’s look at how to buy CELO. eToro is our top choice for brokers, so we’ll use it.

1. Sign Up

Go to the eToro home page and click on “Join Now.” Enter your email address and password, and eToro will send an email to confirm your account. Click on the link provided, and you would have successfully created the account.

2. Verify Your Identity

Identity verification is a critical part of working with eToro. While you could decide to move on without completing this step, you will be unable to enjoy eToro’s suite of products and services – including transaction limits and more.

Go to the verification section and click on the “Verify” button. You will need your government-issued ID and proof of residence to complete the verification process. Once you submit these documents, your account should be verified in a few minutes

3. Deposit Funds

Click the “Deposit” button on the profile page. eToro allows you to deposit using bank transfers, online payment processors, and cards.

We will recommend using cards because they are the most convenient and ubiquitous. Also, cards are universally accepted – unlike bank transfers and payment processors, where you might be restricted based on your location.

4. Buy CELO

Type “Quant” in the search box. Click on “Open Trade”, enter how much you’d like to buy, then click on “Trade.”Once your trade is confirmed, the CELO tokens bought should be added immediately to your wallet.

How to Sell Celo

To sell your CELO tokens, follow the steps below.

• Click on the “Portfolio” button to see the CEO tokens you have
• Select “CELO” among the assets in your portfolio.
• Click on the red cross on the right side to close the trade.
• You will see a pop-up showing the coin’s value and your profit or loss if you close the trade.
• Click on “Close Trade,” and the money will be sent to your wallet.

Conclusion

CELO is an impressive cryptocurrency with a great use case and a growing community of investors. Without a doubt, it is one coin with a bright future.

If you would like to buy CELO, we recommend using eToro. This broker is known for its user-friendliness and impressive features, including zero-commission trading and a Copy Trader feature that helps beginners make money.

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