Buy Celo: how to invest in this Crypto [Guide]
Published: 4 January 2022 by Andrew
To Buy Celo means taking advantage of a Bockchain created to create surplus value and send money in a simple and intuitive way. This cryptocurrency is attracting savers from all over the world who want to manage their cryptocurrency on the phone and are used to using user-friendly digital wallets.
Sending money easily and cheaply is one of the challenges of the crypto market and Celo is trying to establish itself as the most effective and low cost solution ever.
In this guide we will see what Celo actually is, how it works and how to invest in this innovative cryptocurrency.
Let’s start by showing you how to buy Celo in a simple and practical way:
- Register on eToro
- Deposit the amount you want to invest
- Select Celo and click Buy or Sell depending on your strategy
Here some basic information about Celo:
|📊 Supply||387 milion tokens ca.|
|💸 Market Cap
||$ 2 billions ca.|
|🖥️ Trading Platforms
||eToro / ForexTB|
We have proposed CFD Brokers to buy Celo because, being regulated, they are a safe and convenient choice.
Below is a list of the best cryptocurrency platforms available on the market:
Min. Deposit: 50€
Min. Deposit: 100€
Min. Deposit: 50€
Min. Deposit: 250€
Min. Deposit: 100€
Min. Deposit: 250€
Celo Crypto: what is it?
The development of Celo began in 2018 but the cryptocurrency was only launched in 2020. The project is based on the provision of banking services via Blockchain, an innovation in great demand and very interesting for users of the crypto market.
Backed by a stablecoin, Celo is a “competitor” of the colossal Facebook Libra project, now Diem, which wants to create a network to facilitate money transfers globally.
Celo has adopted a decentralized network, which means that there is no central entity to manage the operation of the system, this makes it very different from the Facebook project.
The Blockchain is based on the PoS (Proof of Stake) consensus mechanism, therefore each user has the right to vote and equal weight in the community.
Transactions are quick and cheap and the Celo account can be linked to the user’s mobile phone number, for greater security.
This ecosystem provides native support for Ethereum ERC20 protocol-based stablecoins, such as Tether (USDT), and makes payments easy and inexpensive.
How to Buy Celo
Due to the success of this idea, many investors have realized how profitable it could be to buy Celo and follow its price fluctuations.
There are two main options available to you:
- Cryptocurrency exchanges, which are quite risky and have a lot of limits if you want to buy Celo.
- Online brokers, which are safer and offer a series of advantages that make online trading convenient.
What radically distinguishes these two types of intermediaries is undoubtedly security. Exchanges are not regulated and this makes them particularly dangerous. On the other hand, brokers are instead provided with regular licenses and therefore much more reliable for making transactions on the crypto market.
But the advantages of online brokers are also many others, such as:
- They have a regular license
- You can do Short Selling
- There is no risk of cyber attacks
- They offer a Demo account to practice
Where to Buy Celo
If you are looking for the right intermediary to buy Celo you have to put safety first, it is still investments, so do not be attracted by easy earnings promises, serious brokers do not make promises of this kind.
Check that the chosen intermediary has at least a regular license, preferably issued by a reliable body such as CySEC or CONSOB.
This excludes cryptocurrency exchanges, which offer no protection on deposited funds.
In the next paragraphs we will describe the main features of the best online brokers to buy cryptocurrencies: eToro and ForexTB.
eToro is an online broker that does not need many introductions, it is one of the most popular financial intermediaries in the world, which has managed to bring trading closer to the general public, with a clear and intuitive platform.
With over 20 million registered users, it is considered an extremely reliable broker and its offer goes far beyond cryptocurrencies, with a wide selection of financial instruments such as stocks, indices, commodities, forex, etc.
eToro allows you to buy Celo directly, as on exchanges, or to trade through CFDs, with leverage and the ability to aim both up and down.
Here is a screenshot of Celo in the eToro platform:
How do you buy Celo on eToro? Here are the 3 steps to follow:
- Register on eToro
- Access your real account by depositing at least € 50
- Select “Celo” and click on “Trade”
If you are looking for an investment system that makes things easier for you, eToro, with its Copy Trading, offers you all this and much more.
This patented tool allows you to take advantage of the experience of the best traders in the community to your advantage. Specifically, it allows you to choose the best investors who use eToro and with one click, copy all their market operations to your account.
In this way you will get the same returns of the traders you decide to copy (based on how much you have invested) and you can also filter only those who invest in cryptocurrencies. Here are some examples:
Past performance is no guarantee of future returns.Click here and choose which trader to copy
ForexTB is one of the longest-lived intermediaries you can find on the market, has been offering its services all over the world for over 2 decades and is an extremely reliable choice in the financial landscape.
Security is guaranteed by numerous authorizations, including the CySEC license, valid throughout the European Union.
The financial instruments available on this online broker are thousands and range from stocks, indices, forex and obviously cryptocurrencies, one of the fastest growing investments in recent years.
The use of CFDs allows you to aim upwards or downwards on all the proposed assets, without paying trading commissions and taking advantage of the famous financial leverage.
ForexTB offers 2 trading platforms: The WebTrader and the MetaTrader, very different from each other but both effective and safe.
How do you buy Celo with ForexTB? Follow these 4 steps:
- Register on ForexTB
- Log into your real account by depositing at least 100 euros
- Choose the platform you prefer
- Select “Celo” and click on Buy or Sell
How does Celo work?
The cryptocurrency wallet proposed by Celo is connected directly to your phone number, so as to increase security and avoid the numerous trading scams that unfortunately are spreading a lot on the web.
The phone number is also useful for sending money around the world. As long as the recipient has a mobile phone, they can receive your transfer made on the Celo Blockchain.
Obviously, the recipient will also have to register with the system and download the wallet created for this protocol.
There are billions of smartphone users around the world, but only a small fraction of these people use cryptocurrencies, at least for now.
Celo allows you to transfer stablecoins, thus avoiding the price fluctuations typical of this market, which are fundamental for investors but dangerous for those who have to send and receive money.
It must be borne in mind that in the world there are countries where banks are not as safe as we know, or even where they are not at all. Thus DeFi, with the Celo ecosystem, becomes an indispensable tool, which offers most of the classic banking services in a simple way and at low costs.
The Blockchain allows you to perform money transfers safely and without intermediaries, all you need is a phone number and a smartphone.
The whole system is based on the native Celo token, with which the transaction fees are paid and you can participate in the vote for the governance of the entire project.
One of the latest votes made by the Celo communities concerned the offsetting of carbon emissions, to make this ecosystem the first zero-emission Blockchain.
Is it convenient to Buy Celo?
The growth of the CELO token has shown that investor attention is not only for the project but also for the token, which can become the subject of speculation and grow rapidly in the coming months.
The market capitalization of this token has grown rapidly as has the price of the crypto, which recently announced that it has raised around $ 100 million in funding from various decentralized finance protocols.
Celo is also launching a “DeFi for the People” initiative with the aim of making decentralized financial services accessible to approximately six billion smartphone users around the world.
The chart below shows the trend of this cryptocurrency, which shows impressive volatility and swings that are tempting speculators around the world:
Celo Crypto Forum
In trading forums we often talk about emerging cryptocurrencies and altcoins with great potential, therefore Celo is a fairly frequent topic of conversation.
But you don’t have to trust the information learned on online forums, it doesn’t necessarily come from real experts and could be biased or even misleading.
If you are looking for a place where you can compare yourself with other traders in a transparent and effective way, it is preferable to use eToro's Social Trading, where you cannot bluff your financial results because they are available to everyone and none of the community participants can distort them.
Celo has recently experienced a significant drop in price, but this correction can be seen as a healthy back-accumulation phase. This Altcoin was recently integrated into the Opera browser, a big step for Celo as it slowly begins its journey to become an easily accessible currency for the general public.
Opera is a relatively small browser, but it has over 380 million users around the world who could start using Celo.
Buy Celo: predictions
Celo attracted the attention of speculators when it rise 45% in just 24 hours and rightly entered the top 100 of the world’s cryptocurrencies.
Its goal is ambitious and the price swings make it one of the most promising cryptocurrencies. The 3-month chart below shows the volatility of Celo and despite the slightly bearish trend that you can observe, analysts remain optimistic about the future of this altcoin.
According to leading industry experts, the CELO token could reach a price level of $ 15 by the end of this year.
But regardless of the target, it is precisely the fluctuations that make Celo so appealing. In fact, thanks to the versatility of CFD Brokers, you can trade this cryptocurrency both up and down and go in search of profit in any market condition.
Celo’s goal of becoming the ecosystem that allows anyone in the world to transfer money easily and inexpensively goes far beyond its market value.
But if you want to buy Celo to speculate on its price changes, the CFD Brokers that we have proposed in this guide are certainly the most suitable intermediaries.
Regardless of your trading strategy, you should first test it on the Demo account, offered for free by the best CFD brokers and only then switch to real money investments.
This way you will do all the tests without risking money. Here are the links to access for free:
- Access the eToro Demo account by clicking here
- Register for free on ForexTB and access the Demo account here
Celo is an ecosystem created to perform money transfers via Blockchain, in a simple and economical way.
The price of Celo fluctuates between $ 2.5 and $ 8, but analysts believe it is set to rise.
According to leading industry experts, the CELO token could reach a price level of $ 15 by the end of 2022.
With eToro, an online broker that allows you to buy cryptocurrencies directly or to trade them through CFDs, using leverage.