This Celo review has revealed that Celo also known as CELO that it’s entire ecosystem is centered around smartphone technology, with applications as well as payment solutions being developed for mobile users.
Choose your quick section of our Celo review below.
A Quick Overview of our Celo Review:
Users can seamlessly convert CELO tokens to CUSD stablecoin and back, however, to mint CUSD, the same amount of CELO tokens must be frozen on the platform, meaning that the price of CELO is related to the demand for CUSD.
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What is Celo?
Celo is a modern, innovative platform which encourages the adoption of digital money along with its use. It is an open-source blockchain protocol that enables the use of smart contracts to develop decentralised applications (DApps) which will use payment solutions as well as Celo assets.
Key Features and Takeaways of Celo
Celo is a popular cryptocurrency project that has some of the following key features and takeaways:
- The Celo Foundation is a Non-profit organisation that supports the growth as well as development of the open-source platform, which is guided by Tenets, which is the community.
- Celo allows for smart contracts and decentralised applications (DApps) to be created as a vital part of decentralised finance (DeFi), which has taken the financial world by storm.
- The Celo mainnet was launched in April 2025 and there are two native tokens featured on the Celo platform namely CELO, which is a Proof of Stake (PoS) token used for transaction fees, the participation in governance, and all other related activities, and the stablecoin, Celo Dollar, or CUSD, which is pegged against the US Dollar.
- Celo aims to build an international financial system and framework that will serve everyone, including people who do not have access to conventional banking services.
- The aim that Celo has, is to create mobile applications that will allow any user, from anywhere in the world, to spend or transfer CELO tokens through their app.
- Celo is lightweight, which ensures a more satisfying experience for users. In addition, it can also be used as a stability tool for stable-value currencies and there are many incentives along with a governance policy.
- Celo’s entire ecosystem is centred around smartphone technology, with applications as well as payment solutions being developed for mobile users.
- To ensure access and usability of the Celo app, developers created ultralight clients and a special blockchain structure to ensure quick synchronisation while using limited power.
- In addition, the Celo network runs a mobile number confirmation algorithm that connects a unique subscriber number to a wallet application, subsequently turning it into a public key.
- Users can seamlessly convert CELO tokens to CUSD stablecoin and back, however, to mint CUSD, the same amount of CELO tokens must be frozen on the platform, meaning that the price of CELO is related to the demand for CUSD.
Celo Mining
The Celo network uses the Proof of Stake (PoS) consensus mechanism, meaning that new CELO tokens are created by validators who process transaction and add new blocks to the blockchain.
Network validators choose holders of CELO tokens by using their coins to vote. It should be noted that due to technical features of the consensus method, votes can only be cast for a group of validators and not for personal addresses.
The Celo network consists of the following three-level node structure:
- Validators, who are responsible for transaction processing and the forming of blocks. They are required to store a complete copy of the blockchain.
- Full nodes, who transfer translation requests to the validators in addition to being required to store a partial copy of the blockchain.
- Clients, who are smart light applications that do not perform the function associated with mining or confirming of transactions.
For this reason, not only can validators earn CELO tokens when they validate transactions, but owners of full nodes can also earn CELO. Full nodes are those who are responsible for the transfer of data from the client to the validator, allowing them to receive a commission from the initiator of the transaction.
To become a validator, there is currently an estimated fee of more than 211 569 ZAR, at the time of writing, making it prohibitive for many users. However, Celo is constantly looking for ways to make it more affordable for users to run nodes, including a multi-tiered system of validators, nodes, and light clients.
The community has also proposed that Celo increase the number of validators into the millions as there are only 100 validators on the network. Validators can earn 30% APY when they stake CELO tokens, making it feasible for those who can afford to pay the fee.
Pros and Cons
| ✔️ Pros | ❌ Cons |
|---|---|
| Celo app is reliable, and it is designed to give users the best possible experience | Celo is not compatible with Ethereum, which means that there is no interoperability between the two blockchains |
| The Celo app makes deposits and withdrawals quick and hassle-free | Celo cannot achieve mass adoption without interoperability with Ethereum as it is a large, significant blockchain |
| The Celo platform is designed to deliver fast and easier processing | Celo faces many issues with scalability |
| Celo is fully decentralised, removing all intermediaries | Celo does not have high liquidity, which means that transaction speed is not optimal |
| The blockchain technology used by Celo enables it to remain transparent and accessible by all while ensuring protection and security | There is a limited number of assets available and small annexes |
| Celo has quality adaption to smartphone technology and innovations | The focus is on developing countries and not established, larger, more developed economies |
| There is a wide range of partnership projects | |
| There is an array of start-up tools offered to developers who want to build smart contracts and DApps | |
| Celo uses a unique course stabilisation algorithm | |
| Celo has its own native dollar stablecoin, the CUSD | |
Transaction Fees
| 💰 Type of Fee | ℹ️ Information |
|---|---|
| Withdrawal Fees | 0.5 CELO |
Should you buy Celo?
CELO currently has an expected ROI of 44.1% according to analysts as it has not yet gained mainstream acceptance by cryptocurrency traders and enthusiast. It has, however, gained some adoption in the cryptocurrency community, with 100 companies that are sponsoring and supporting the project in a variety of ways.
Celo is an ambitious project and there is a large community behind it, but there is no current boost expected in value for the platform or its tokens, making this a risky investment for many. There are analysts and expert investors who suggest that keeping an eye on Celo while investing in more promising tokens is a much better idea than investing in Celo right now.
How to buy Celo (CELO)
Step 1 – Register an account with Gate.io
Navigate to the official Gate.io website and select the option to “Sign Up” from the homepage.
Complete the online registration form by providing country/region, a selected username, email address, and user-selected password. Read and accept the User Agreement and Privacy and select “Next”.
Create a fund password and select “Create Account”. Complete the “I am not a robot” reCAPTCHA. Check your email inbox for the activation email and click on the link in the email. If the link does not work, you can copy and paste the URL into your browser.
Log into your account using your credentials and complete the reCAPTCHA.
Check your email again for the verification email that contains the 6-digit code and click on “Confirm”. Enter the code that you received into the blocks provided and select “Log In” to proceed.
Before you can use the platform to purchase Celo/CELO and other cryptocurrencies on Gate.io, you must complete the “Know Your Client” or KYC procedure to verify your identity and your proof of residence.
Click on “KYC Now” at the bottom of the webpage to start the process.
Select whether you are an individual or an organisation by selecting “Verify Now” under the relevant option.
Select your country from the dropdown list, enter your full name followed by confirmation thereof. Select your ID document type and provide your ID Number as shown on your official ID Document.
Click on the first image to upload a clear photo of the front of your ID document followed by a clear photo of the back of the document.
Next, write your Gate.io unique ID on a piece of paper and take a photo of yourself holding up your identity document (front) and the paper containing your unique ID.
Once you have done this, click on “Confirm and Submit”.
Next, you must enable the Timed One-Time Password (TOTP) to be able to log into your account. This can be done by clicking on “Set Now” at the bottom of the page.
On the new page that loads, select “Click here” to set up Two-factor Authentication.
Download Google Authenticator onto your mobile device by making use of any of the abovementioned methods.
Follow the steps indicated to add your Gate.io account by scanning the QR code or entering your unique key.
Enter the TOTP, your fund password, and the code sent to your email address and select “Enable Two-factor Authentication”. With this setup, you must use the Google Authenticator app to sign into your account every time.
Step 2 – Deposit funds
You must note that Gate.io is only a crypto-to-crypto exchange which means there is no fiat gateway. The only way through which funds can be added, is to transfer an existing crypto into your Gate.io wallet.
CELO can only be bought through Tether/USDT or Bitcoin/BTC while it can be traded with USD as a futures contract.
Navigate to the deposit/withdrawal section by hovering over your account and selecting the relevant option. Choose from the list of coins in which you can make a deposit and select “deposit” next to the appropriate coin.
You will be redirected to a page which generates a deposit address for the coin that you wish to deposit.
Copy this address, or scan the QR code, into the wallet where you are making a withdrawal from and depositing to Gate.io and wait for the relevant blockchain to confirm your transaction. Once the transaction has been completed and verified by the nodes on the chain, the coins will be sent to the Gate.io wallet and you can start trading CELO.
Step 3 – Explore your trading options
Gate.io offers a variety of ways through which cryptocurrencies can be obtained. Each of these can be explored individually depending on your trading needs and objectives.
To start trading CELO, select the option from the “Trade” Menu. Enter “CELO” into the search bar to see which trading options are available.
For spot trading, for instance and as an example, select CELO_USDT. Once you have selected, you will be directed to the exchange page which corresponds to the cryptocurrency pair CELO/USDT.
Here, you will see that you have the option to buy or sell CELO either as a limit order, grid trading, or as a time condition. The most common trading method is that of limit trading and thus it will be used for this guide.
Step 3 – Buy CELO through via Limit Order
To buy CELO and create a limit order for it, you can enter the amount of CELO you want to purchase, and the price you want to buy it at in USDT. This tool will tell you what the overall cost is in USDT, or any other chosen counter-currency, which will be deducted from your wallet once the order has been executed.
Step 4 – Sell CELO through via Limit Order
To sell CELO, find the panel under the chart and create a limit order for USDT according to your own preferences. Note that with a peg to USD, CELO that you exchange for USDT will hold the flat value that it has despite market conditions in the cryptocurrency market.
Step 5 – Withdraw funds
To withdraw funds, you will use the same page in Gate.io which was used to make a deposit.
Click on the deposit/withdrawal option on your Account dropdown and find the wallet of the currency that you wish to withdraw. You can do this easily by using the search bar provided.
Instead of a deposit address being generated, you will do this on the exchange, or the wallet being used as the destination for withdrawal of funds from Gate.io. Paste the address of the receiving wallet in the field provided and provide your Gate.io fund password, email code, and TOTP before selecting “Submit Request”.
Frequently Asked Questions
When was Celo first launched?
Celo was launched in 2017.
Who founded Celo?
Rene Reinsberg, Sep Kamvar, and Marek Olszewski founded Celo.
What is “ICO”?
It is Initial Coin Offering that, unlike an IPO, does not mean that those who invest in the cryptocurrency will have an ownership stake of the company that they provide funds to.
When was Celo’s ICO and how much did it raise?
Celo did not have an ICO but received funding of 423 million ZAR.
Is Celo legit?
Yes, Celo is legit.
What is Celo’s total supply?
CELO is capped at a maximum supply of 1 billion tokens.
What is the purpose of Celo?
Celo focuses on improving the lives of communities around the world by making financial services accessible through smartphone and blockchain technology.
On which blockchain is Celo based?
Celo is based on its own blockchain.
Does Celo work with smart contracts?
No, Celo does not work with smart contracts and is not compatible with Ethereum.
Does Celo have potential to become more valuable?
It is uncertain whether Celo will become significantly more valuable.
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