Celo is a mobile-first blockchain network that allows you to send cryptocurrency instantly from your phone. Celo’s ambition is to make cryptocurrency transactions more accessible to retail investors, making them inexpensive for people who aren't already involved in the market. Even if you don't have the Celo app, you can send CUSD, however, you'll need to download it at some time to claim your cash.

 

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About Celo

Celo was launched in May of 2020. Since then, a number of large cryptocurrency exchanges, notably Coinbase, have embraced its CELO coin. CELO, the 81st biggest cryptocurrency token in the entire globe, is estimated by market capitalization, with a market value of more than $230 million and an average daily trading volume of around $59 million.

 

Celo connects your phone number to a cryptocurrency wallet that accepts both CUSD and CELO. A record of personal phone number is kept on the blockchain, ensuring that any expenses incurred to your phone number are sent to you alone. To complete the account opening process, Celo validates your phone number using a variety of verification techniques. Celo costs a modest fee to authenticate a phone number, and several phone numbers can be linked to a single wallet address. Celo has been dubbed "the WhatsApp for money" by Polychain Capital's CEO.

 

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What is Celo [CELO]?

Celo is a blockchain ecosystem aimed at promoting the acceptance of bitcoin among smartphone users. As part of decentralized finance, CELO also facilitates the construction of smart contracts and decentralized apps (DApps) (DeFi). Its mainnet was released in April 2020.

 

There are two native tokens on the network. CELO is a token that is used to pay transaction fees, participate in governance, and other relevant activities. The platform plans to host a variety of stablecoins in the long term, with one, the Celo Dollar (CUSD), already in use.

 

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Who Are the Founders of Celo [CELO]?

Celo was created by a group of professionals who belonged to MIT, Google, Square, Stanford,  Circle, GoDaddy, World Bank, Federal Reserve Bank, Visa, Harvard University, University of Pennsylvania Law School,  United States Department of Justice, Bank Of America, Cambridge University, Capital One, Gates Foundation, Twitter, and Give Directly.

Names of few founders listed here are: Rene Reinsberg, Sep Kamvar, and Marek Olszewski. 

 

The Celo Foundation is a non-profit that launched with the mainnet, while the Celo Alliance for Prosperity is an “ecosystem of mission-aligned organizations,” according to the firm.

 

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What Makes Celo Unique?

Celo's primary distinguishing feature is its emphasis on smartphone consumers. According to the firm, the number of smartphone owners is experiencing exponential growth, but the number of cryptocurrency users is growing at a far slower rate.

 

Cryptocurrency is also well-suited to areas where a substantial portion of the population lacks access to the financial system yet has a smartphone. Celo attempts to bridge the gap between the two technologies while also leveraging the benefits of DeFi by facilitating the construction of DApps and smart contracts. The Celo blockchain analyzes financing costs automatically and lets users pay the gas charges that power transactions in any currency.

 

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Where Can You Buy Celo [CELO]?

The top exchanges for buying, selling, and trading Celo(CELO) are Coinbase Pro and Bittrex. When you trade Celo on cryptocurrency exchanges, you're most likely buying and selling Celo Gold (CELO) native tokens. Celo Gold is an ERC-20 coin, which means it's based on the Ethereum network and runs on Ethereum's architecture. When you purchase and sell Celo on sites such as Coinbase, you are purchasing the CELO token. Unlike CUSD, CELO fluctuates on a daily basis based on the tokens' actual market demand. Celo Gold has no link or relevance to gold as a financial asset. CELO is a validator token as well as a governance token that may be utilized in future staking projects.

 

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Frequently Asked Questions

What Security Measures Does the Celo Network Take?

Celo utilizes proof-of-stake to guarantee safety and includes a sophisticated electoral mechanism to choose blockchain validators. CELO owners can vote for groups of validators during elections.

Is it profitable to invest in Celo cryptocurrency?

Yes, Celo is an excellent investment in 2021 since it is on a positive trend from $15 to $40. This asset has a forecast of $75-$200 from 2022 to 2025, hence, you can make a lot of money.

What is the average time it takes to complete a Celo transaction?

Although this should only take around 5 minutes on average, it can take anything from 5 minutes to 4 hours. 

 

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Celo Official website  – https://www.celocamp.com/

 

CeloTwitter – https://twitter.com/CeloOrg

 

CeloReddit – https://reddit.com/r/CeloHQ