What are /r/celo's favorite Products & Services?

From 3.5 billion Reddit comments

Well, it probably has something to do with the fact that the number of Celo tokens in circulation is doubling in the next 12 months. There is a huge rate of inflation which kicked in around end of April, primarily driven by tokens going to the "Team, Advisors, Founders and Contributors" category, which will taper off around April or May of 2022. I think this is the maturing of a vesting schedule.

Reference:

So I suspect that the natural trend will be downward for the next year unless there is a big spike in public interest. Let's be honest: if Shiba Inu coins are now worth over $3 billion, you are not dealing with a rational market, but one driven by memes and speculation.

Personally, I do hope that Celo gets some real traction and moves toward mainstream, but in the meantime it is quite speculative.

Tbh, the price isn't as important as the various use cases that celo breaks into. I am looking at developer activity and new wallet addresses. I think both of these are good measures/proxies for what is to come.

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Example: celo's market cap is ~2 billion. If celo can start to see more and more utilization in the remittiance industry, that's app 600 billion per year. You can keep going through this exercise with different use cases that celo could potentially take on. More examples are mobile payments (1.5 trillion today and exepcted to grow at a crazy rate over the next 5 years).

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Celo is one of the few coins I am holding. It very well could fail but if it happens to win out, it could be an extremely important coin in the future.

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GL out there!

USER EXPERIENCE. Yes, user experience. Although they have a long way to go still, Celo has the best user experience right now to using crypto. My opinion on crypto is that everyone in this sphere gets caught up over technology and who's has the best and whether PoS is better than PoW, etc, etc, etc.

Sorry to say but mainstream people don't give a shit who has the best technology and what's behind the coin and whether it's "decentralized." It's made apparent by dogecoin hype. People care that it's easy to understand, easy to actually use, and that it actually works.

• Celo linking wallets to phone number is the #1 reason that makes Celo viable, I can send anyone money just by sending it to their phone. Anyone can understand this concept (also validated by Venmo) and no copying long wallet addresses.
• The Valora wallet is top-notch UI/UX and that's coming from someone who builds web/mobile applications.
• Celo has stable coins that I can use to hold my money safe in case I need it and don't want to be subjected to the crazy volatility of the crypto space. No one wants to see their bank account drop 30% in a few days.
• Extremely fast transaction speed: People want their stuff now not later in 30 minutes or even 5 minutes.
• Low transaction costs: someone else made a post here that you can do 80+ transactions with just $0.01 cUSD.

Celo maps your phone number as your public key. Basically by using the Valora app, you can send crypto to anyone if you know their phone number. It's basically will send your friend a text prompting them to download Valora app. Once they download and activate their account, they will already have the money you sent. One real world use of this is charities using it to get aide money directly to those in need.

Maybe a combination of the news from last 7 days... - wrapped bitcoin on Celo chain - kucoin listing of cUSD & cEUR - a16z delegating to Deutsche Telekom - Opera native wallet support for cUSD - Sushiswap & Celo

Two things-

Firstly I think you are mad if you think Celo price is going to multiply in the “near future”. This is entirely dependent on what Bitcoin does.

Second thing is - marketing? Surely the Celo community and devs are focused on the actual platform. The price of Celo coin will follow if there plans come to fruition, only true shitcoins try to manipulate up the price by marketing. It will happen organically if the project succeeds

Yes I have noticed this too. I think that this is a bit misleading, because this is calculated by the relative % of account holders who have either increased or decreased their positions, and doesn’t take into account volume. For instance, you can get free Celo from watching a few videos, and perhaps a great deal of people sell that small amount immediately afterward. Anyone feel free to correct me here.

You rock it. Facebook should just leave Libra Diem away and start investing in Celo ! It has more credibility. Don’t forget that Chamath P. vu Social Capital was an early investor in this project. I wish it will reach top 10 soon. Bless you

From the tweet:

I'm absolutely thrilled to be sharing that
u/Mysten_Labs
will be joining the
u/CeloOrg
ecosystem today 🙌 Mysten will work to make the Celo platform the fastest EVM compatible chain by bringing the Narwhal and Tusk consensus innovations to Celo

I bought just before the major crash when Celo was 4.20. It still shot up to 5.20 but I did not sell and then it just went down hill. Added up at 2.90 and then again at 1.90. My average is at 2.70 now, which we were pretty close to today and I hope we get above once the market recovers.

But this is one of the coins where I don´t really have doubts about it surviving and coming out of this all much stronger.

All crypto is tied to bitcoin. Always has been

Celo and all other coins aren’t gonna do anything until bitcoin decides what it’s gonna do.

If you like the price then buy and hold in long term. I mean long term though, not next week or next 6 months.

I am currently not buying as I feel it goes lower

lol are you sure you posted this to the correct subreddit? Not trying to be rude, I'm legitimately asking.

I don't lurk here very often, so I'm sure there are some moonposts and gatekeeping activity (as with most altcoin subreddits, some more than others) that I've yet to from my experience, the Celo subreddit is one of the tamest and most helpful among the altcoin subreddits.

Having said that, I do know what you mean (from my experience on other altcoin subreddits)...I try to ignore those people who are blinded by hype, but it can be hard sometimes (especially when you are genuinely interested in a crypto project and want to have an objective conversation about your concerns).

What concerns do you have about the Celo? I'm genuinley interested in this project, and would like to hear different perspectives.

If memes are your idea of a projects viability you are in the wrong place. VC likes Celo because it’s a real project that solves real problems and it’s doing it in real time. You don’t need to be shilled, just try out the product and shill yourself.

To me it seems like a no brainer, no one talks about it. I got some free Celo on Coinbase and after a little research I bought more. Great use case and quick adoption. How can so few on this sub be into it? Also thanks for your info, I really appreciate it.

You don't have to lock them. I personal think that the 50% APY is just an "PR stunt" to get more people to get interested in Celo, which is great. I think the 50% will last some months.

I always have some money in Valora to buy the dips. Win win.

Ez money tho.

Safest might be staking through the Celo desktop wallet app but abysmal yield. Pooltogether (dapp) has some single asset Celo pools offering 100%+. My current favorite though is Ubeswap. Transaction fees are ridiculously low and there are several pairs offering well over 100% yield. You can connect to Ubeswap with the desktop wallet and a Chrome extension, or you can connect with the mobile app Valora.

Imagine you had a magic wallet in your back pocket that had a slot for cash and a slot for gold bullion.

Cash is something you can spend on goods & services, gold bullion is a store of value that is protected from inflation.

Every week, if you have cash in the cash slot, this magic wallet of yours poofs into existence a little gold bullion at a rate of 5% of your cash/year. Like how savings accounts used to be, back when investors actually used them for income.

Whenever you want, you can tell the magic wallet to poof some gold bullion back into cash, and vice-versa, for a tenth of a penny of cash per poof.

When you want to spend the cash, for the same tenth of a penny cost, you tell the magic wallet where you want to shop and it will poof your cash into credit at the store, in the form of a digital gift card that never expires.

When you want to send the cash to somebody, for the same cost, you tell the magic wallet their mobile phone number and how much you want to send, and it will either poof the cash into their magic wallet within a few seconds or send them a text message link to download their own magic wallet which can then receive your cash in a subsequent few seconds, no matter where they live or what their government's cash is called.

This is Celo, money perfected.

Celo org should maintain an equity stake in Valora and pledge the proceeds of its stake to future buybacks of cgld. This way if Valora takes off and the asset is monetized, cgld holders participate in the upside.

I’ve seen this happen so many times, I wanted to throw it out there to support the idea that Celo is more consistently acting on its own accord.

The cream always rises to the top! Good things can’t be held down forever. Trust the process

Mobile First: Send or Request stable assets easily with anyone in your address book, powered by decentralized phone number verification.

Programmable: Smart contract platform compatible with full EVM Compatibility.

Interoperable : A Gas-efficient Interoperability Standard for Cross-chain Communication

Here are some use cases: UBI, Savings, Salary, P2P Loans, Microwork, Merchant Payments, and DeFi.

Check out all the (d)apps on Celo.

Bridges can help with

• Liquidity by making other chain assets available on Celo and Celo assets available on other chains (e.g. could be use these in Celo or Ethereum dApps respectively)
• Interoperability: allows Ethereum dApps to reach Celo (smartphone) users and allows Celo dApps to reach Ethereum users
  

In short it allows Celo to benefit from other rich and relatively more developed ecosystems like Ethereum, Cosmos, Bitcoin and others and vise versa.

Lol I love this stuff.

Remember there are bots, people that earn coinbase Celo (I think it’s back) and they sell it for cash, and/or people taking profits. Trading is the art of buying and selling. Just on coinbase pro alone there are like 10 other coins down 8-12%. There are many people waiting for this dip, then everyone buys in and everyone is posting “moon” comments.

Market psychology 101. Those that understand that aspect of the game, usually win at a much higher rate.

Definitely they don't mean it like buy CELO and everybody gets rich. It is meant in a way that people can get access to financial tools and have the chance to participate in financial things which usualy require a bank account. Celo foundation is focussing on helping projects which have a good cause for people and environment etc.

For a while it was 5% APY and I went for that. Then, I saw the 50% ad and, yes, they dropped almost $10 into my account this week. I am buying the dips, too. My goal is to always have $1K cUSD in there even when I’ve bought Celo in the dips. You can buy and sell Celo quite easily on Valora without fees. I used OKCoin to buy my initial cUSD investment.

For the same reason Algorand previously experienced a surge despite the market crashing. In short, investment groups / funds often triangulate on a worthy investment around the same time and when the market crashes, they all take positions ( thus causing a dramatic rise in price despite the market crash ). I suspect that Celo will be climbing the ranks over the next few months as more investors gain exposure.

Celo is showing incredible support and stabilizing nicely in the 5’s. This is the real deal crypto. The value will come. I just downloaded Valora. It’s a sweet app. This token has REAL WORLD utility and application. The value will be realized with patience.

The good news is, it doesn't matter much if Koibanx/Algorand is being developed by gov't. You don't need gov't permission to prefer Valora/Celo. The more elegant/efficient solution usually always wins (except in the case of Windows/MacOs lol).

Here's why I think Celo/Valora has a great shot at expanding in Latin/Central America.

1) The Dollar is king in Latin America. It's an easy leap from $ to $cusd. No need to wrap your head around BTC or some new altcoin.

2) KEEP IT MOBILE, stupid. A lot of these people have mobile phones, not traditional bank accounts or laptops to access said accounts. In that case, what's the best bank account or payment platform around? The one that you can keep on your phone.

3) AVAILABLE NOW. This is not vaporware. This is not a roadmap. This is available right now.

Take it as a lesson learned as far as buying on hysteria when any coin is close to its ALL time high. Not every time but most of the time it will go down, drastically a lot as well. We are all human tho and jump in on coins spiking. Best thing for sure is to wait it out a bit, dont sell and accept a loss for fear of it going lower.. Celo is Super promising in lots of analysis's views and in my humble opinion. Research more on it and go with your gut feeling from your research. With the 100 million invested in Celo related news last few days, it kind of speaks volume to its potential. Also ignore any rude comments from some users on here. Some just love the chance to subject others to rude commenting because in real life they lack self esteem, courage to stand up for themselves and are subjected sadly to mistreatment in real life. They get a little boost and feel tough commenting online subconsciously. Ignore them and welcome to Crypto as you called yourself rookie, soon you will be an MVP just research, patience and other things you will learn and best of luck!

Can you actually buy 50% more Celo? What about the taxes you have to pay on your gains? I’m guessing you held for less than a year so you’re not able to qualify for long term capital gains so that makes it even worse. You’re most likely barely coming out ahead or breaking even while burning yourself out trying to time the market.

Perhaps not exactly the answer you are looking for, but if you have the Valora app, you can exchange Celo for Celo USD, and use that to purchase gift cards.

The first time I had heard of that, I figured the gift card options would be for all these places I've never heard of and would probably never ever shop at.

Nope. They use Bidali the process the gift cards and so can offer a very large selection of your standard places, including Amazon, Walmart, most of your nationwide restaurant chains and stores.

Celo is sometimes inversely correlated to the rest of the market These pumps happen all the time when all other cryptos have gone way up while celo is dropping for months then bitcoin drops celo takes off upwards Then people notice the movement and pile in it blasts off 100% I was going to buy 20k worth when I sold my home but the closing date wasn’t quick enough, I missed out on 20k or so profit this month

That's just Celo doing what Celo does. Celo is going through it's rebellious teenager years. There is no rhyme or reason. I can't find a consistent correlation between Celo and any other token or coin. I think the closest I've found is like 60-65 % similar price movements.

y so salty?

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If you're upset that celo didn't pump when and how you were hoping/expecting, that's unfortunate and I'm sorry for your loss but coming in here to "dunk on" a bunch of supporters is an odd flex.

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That said, my understanding of this community is that we're hoping that Celo can be more than just a coin to enrich a bunch of speculators.

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Some pretty encouraging news:

• CARE Chooses Celo as First Blockchain Partner in Latin America - link
• PayU enables cUSD and cEUR to 450k merchants
• Celo is powering 2300 refugees in Afrika via a UBI program

Discovering CELO and eliminating Bitcoin network high fee. I am a CoinbasePro U.S. user. Like many, I’m always frustrated with high network fee. So, whenever I need to add some BTC by transferring it from other exchanges, I would have to suffer a high withdrawal fee. But now, with CELO is already listed on Coinbase and Bittrex, all I need to do is convert my coins to CELO and after my Celo tokens are transferred to Coinbase, I can covert them back to Bitcoin. So, hello CELO; goodbye High Network Fee!

Don’t speak so soon. I am long on Celo but it often does this big green or red day seemingly on its own, but it always corrects

I actually sold into this frenzy today. I know I can buy back lower down

>However, Celo has some of the most influential people as early investors (Jack Dorsey Found of Twitter, Casey Neistat (big Youtuber with 12 million subscribers), Chamath P. (Social Capital), Coinbase.

Exactly, these are all very good points. Maybe they don't want to burn it after what happened with Libra? But still, it's incredible that more people don't realize the potential that lies here.

In general, nothing. There are other projects which have zero use and are worth 10 billion plus. We will most likely see some nice new projects starting to use Celo in the near term and this should bring real value and increased price of the token

Bull call is 1) Deutche Telekom is an investor and node operator; DT can roll out a mobile payments solution using a stable dollar. 240m sub opportunity vs roughly 1m subs today. In the context of what venmo is valued at, Celo has a lot of upside. 2) Donut upgrade results in Celo being EVM compatible, which will open up new markets like defi, 3) stable dollar has less risk than Tether, so share gain opp there as well (I still don’t get why the industry continues to use tether while alternative are available, 4) credible investor base.

The bear call in my mind outside of all crypto being correlated is token issuance. Celo is very dilutive with how much issuance comes to market.

SushiSwap is one of the largest and most popular decentralized exchanges on Ethereum. The idea is that having them launch on Celo will result in their Ethereum users migrating over to our chain - benefiting the CELO price long term.

What a weird post. I've never experienced anything you have described in here. I certainly don't have diamond hands either. I'm just too lazy to trade and prefer to hold for longer periods, especially in projects like Celo, Algo, XRP, Tezos etc where I feel comfortable holding for over a decade as the long term prospects are positive.

No apology necessary! We are all learning u/fbno... fortunately in this space, there is always more to learn.

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Celo can be a lot of things. Think Eth but built for mobile devices. Super fast txts, stablecoins, sending value to friends and family via a text message (think PayPal and Venmo) and we are still exploring what is possible.

Seriously don’t worry. This is just a shake out. Did exactly the same in June to July 2017. It took 35 days from peak to reach the bottom and guess what the same happened here all from coinbase listing this time. Don’t worry chill. It we grow at least 10 times this year (Interest and awareness of Celo). And if you guys are more concerned about the price that will also by November, December.

T-Mobile (Deutsche Telekom) revenue is more than last 50 countries GDP, have 250 million bill payer and that giga company is partner of CELO. But they are not using CELO (ceur-cusd) in their bill payments. Who is business developer of CELO ? If T-Mobile use Celo, Celo will be in top 5. It is not a exaggeration, 250 million customer.

Celo is a blockchain project that provides mobile solutions. The stablecoin solutions of this blockchain project are cUSD and cEUR. For much more information on stablecoins and CBDCs, you can check this out.

And now compare this to the Bitcoin event in Miami from a few months ago, with some nutjobs taking the stage, blabbering incoherently how Bitcoin is fantastic, because.... Well no reason, but its just fantastic.

And then you have Celo having an event with people from various Central banks.

I do think Celo will go up. Watching the trades there is IMHO some buying from people in the know.

$8 possible short term (days/weeks). $20 long term for sure, still would be having a lower valuation than many coins with no real fundamentals behind them and still would only have a market cap around 6 billion.

Fast and cheap transactions is really awesome, but let's be fair: every other main chains has that (AVAX, Solana, Fantom, Algorand, etc...) so how can a project differentiate itself?

Two thing sets Celo appart:

1. Strong principle based on financial inclusion
2. Understanding that the UX around crypto needs to improve if we want to onboard the unbanked and non-technical people into crypto.

To my knowledge, Celo is among the very few project out there with the lucidity, sensibities and technical knowhow to pull it off. This is why they have the VC backing they have. This is why Valora received 20 millions in VC funding recently and this is why I'm investing as well.

I have been holding Celo long enough to not gamble. No single coin will go up like crazy without a correction. Sold at 10.25, super happy about my profits. Will I buy back, sure. But will wait and start accumulating over time. Pending other super positive news, we will see the price develop slowly.

This is honestly a bad advice. If you can take profits at the peak after such a massive pump, its good to do it as a follow up correction is inevitable. I could literally now buy 50% more Celo than I had before.

Split of Valora - honestly seemed pretty reasonable - cLabs can't own 100% of all development on-chain. This actually seems more favorable for decentralization. cLabs was becoming a single point of failure imo.

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Increasing circulating supply - there is a great medium post (HERE that touches on the release schedule. It's not as clear as I would like but it is what it is.

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Team/Advisors/Founders:

• Team: Super passionate developers from great schools who are trying to solve a really hard problem - bank the underbanked -
• Advisors: Jack Dorsey, Jack Reid, Polychain, a16z, DT (T-mobile owners)
• Founders: last company was purchased for 70 mil by GoDaddy?

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I get you're salty and I truly am sorry you lost money on this project. Nobody wants to see that.

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I figured Celo was either going to win big or go up in flames in the process. I will say, you shouldn't expect celo to succeed overnight. They are trying to take a product that most 1st world users can't figure out and make it digestible for purely mobile users in less developed countries. There is a large piece of education that is required before Celo can win.

GL out there,

I'm mining more Celo every week using Ubeswap. About 240% APR right now.

I'm earning about 90 UBE per week. I'll claim daily and then convert some to CELO in order to put them back in as a liquidity pair an increase my deposit. (It isn't an exact science, but I don't swap every day, but rather convert one day then just claim UBE one day and it kind of evens out over time.)

As rewards ramp down, I'll be converting more and more to just CELO and then holding that for a while. Should have substantially increased my CELO holdings, then wait for mass adoption.

No it is not. A valuation of only just now above 1 billion. There are top people from banks, financial institutions behind this. The adoption is only picking up and there is still short term potential to 3-4x the current value, long term much more.

I am pretty sure I would sell any other coin in my portfolio with 100% gain, but not Celo! I am going to ride this thing at least to 20 dollars.

"Tokensoft and the 'carbon-neutral bitcoin-backed asset.' Wrapped, a collaboration between tokenization specialist Tokensoft and digital-asset custodian Anchorage, announced a 'carbon-neutral bitcoin-backed-asset' called Eco BTC (eBTC). According to a press release, the asset will combine bitcoin and carbon credits into a single digital asset, built atop the Celo blockchain platform. The deal will allow 'institutional investors to add bitcoin to their portfolio and meet their fund's sustainability goals,' Tokensoft CEO Mason Borda said in the statement."

I can agree with you there. Thanks for being rational and explaining your thought process.

I am a business analyst, so I understand the importance of marketing. I agree that accumulating Celo at a low price over time is an intelligent play.

Remember there are also contracts to long/short Currencies that expiring as well.

Typically at the end of the month is where you get your drops as the calls expire.

2021-05-01 we were at $5.50 <-> 2021-05-25 we are at $2.99 roughly a 54% ouchie...

It will need to maintain this behavior until it breaks resistance. There are still a lot of investors controlling the price to make the barrier for re-entry painless.

Celo is for sure a currency that you should buy, stake in the Valora App, and set all clocks to a couple years to go back and look.

TL;DR it's not a pump and dump. It is a project that many believe in. Whales are still controlling price.

Price movements in crypto come fast and hard but adoption comes very slowly. Most buying is about trying to be where the ball lands, not about where it is now. The big money and hype getting thrown at projects are not necessarily leading to big returns in use and engagement either. The bottomline is that the projects that get regular engagement are projects that will be durable. Is that going to be Celo? My vote is yes, I can personally see the value proposition being filled in the market by someone, but again I don’t know any more than anyone else, it’s a risky market and markets aren’t always fair.

Thank you I do have and use Valora, I was hesitant to buy from it because I have not heard of Ramp, Simplex or Monday but I will look further into them. I was buying on Coinbase and transferring over to Valora. I am not a fan of Valora's price tracking of Celo, Coinbase is much more reliable. I know about the $1, $5 and $10 rewards but I will also look into celoterminal. Now it's aatter of is getting back up to above 5 or 6 dollars a coin them we are back in business.

One of the beauties of the Celo eco system is that for many of us CELO is our first interaction with crypto. I think this is one of those cases where more is better. Explaining how it works, reasons to use it,how/why it’s safe...

Im asking about the individuals that responded with Never.

At $10, market cap would be ~$2.25B. Based on pure speculation (team, hiring on LinkedIn, the investors, the idea, and current execution like the fork) this may easily be a channel for mass adoption. Speculation though.

At the moment, many of my friends buy crypto via Robinhood because of ease. Crypto wallets and sending coins is just too much for them. Celo seems like a great path to ease adoption.

There are currently hundreds of companies with 0 profit that have $50B-$100B in market cap. When interest rates increase the party will be over for them, corporate debt will be called, and market will recognize companies and/or coins that can be staked and provide dividends. Personally believe when Celo starts little and big (m)arketing initiatives, BD, and expands on their partnerships - this will fly. Celo is never mentioned on any subreddits atm. No one has a clue who and what this product can do. Reminds me of ADA years ago. No one talked about it, but spoke to some team members, and the extent of behind the scenes activity is why it's where it sits today.

Disclaimer: I'm the lead developer for Celo Wallet so I'm biased.

Like adebola22 said, if the wallet you can stake so you'll earn rewards. But the important difference is custody.

In the wallet, you own the Account Key (mnemonic phrase) and you're responsible for keeping it safe. No intermediary (i.e. Coinbase) can control your account.

However, Coinbase is a reputable company with a big security team. It's not unreasonable to let them manage your funds for you if you prefer.

So it all depends on your needs and situation.

Nice one. This makes a whole lot of sense.

People get the free Celo and sell it because they don't research it enough.

On this note, do you know anything about how much Celo are giving out? Is there a specific fund?

Donut Hardfork hype, fundamental organic growth, new and continued partnerships, new Euro stable coin, clear technical analysis, the big picture & vision of Celo, more people getting introduced to crypto.... should I keep going?

I feel like some kind of brush it off because they don't see the application as well here in the US with the cell phone component. Because there are solutions like Venmo and what not that do that already.

I see potential in just about everywhere else in the world finding good utlity with Celo, especially underdeveloped countries. Even in those countries, just about everyone still has access to a cell phone.

Wow first off most of these comments I am wondering why you are even posting on the CELO reddit if you feel that way. Pointless posts. The second thing is I keep hearing we are so much. We are now at 18 months on is a LONG time in crypto and we are no longer early. Solana launched mainnet in March launched in April 2021. It's about time to get moving.

Celo distro go from about 20 million a month to 6 million a month in April. Big cut.

I think it's lack of marketing. I only heard of Celo through the promotion they did earlier this year on Coinbase, where you got I think a total of 10 Celo for watching the videos and also downloading the Valora wallet. Honestly, if it wasn't for that, I would never have heard of it.

These are the only legit defi apps built on Celo: If it's not listed here, most probably it's a scam. Having said that, not even those dapp should be considered 100% safe.

The translated caption is:

Blockchain Study with DewSisters✨ Today's project to learn is CELO!
Let's find out what DeFi is through an interview with Kyle who is a Celo Korean community manager, and learn more about CELO's vision, usage examples, and new services of DeFi for the people❤️
For more information, please search celo Korea on telegram❣️

Valora currently only supports Celo and their integrated stablecoin cUSD and cEUR. Right now the main use case is sending remittances internationally quickly and easily. The charity CARE has chosen Celo for donations in Latin America. Also, T-Mobile parent company has invested and likely sees value in the tech for phones in future.

Edit: also check out recent donut hard fork, Defi for the people initiative and CBDC competition as other recent good news

Hi, I'm Rossy, the creator of Celo Wallet. It is indeed legitimate. It's published and signed under my name because it's an open source project with a small team and we haven't incorporated a legal entity for it.

Patience little grasshopper, patience.

This thing went up from below $2 to stable around $5.60 in what? 2 months? With a peak at close to $11! I say that's some great reward for hodlers! It needs to take some break and consolidate. Some people bought near ATH, or at $8-9 and see that their investment is now down some 30% and they lack the patience to just hodl and panic sell with a loss.

I was down on my initial Celo purchase by about 50%, but instead of panic selling I saw it as a chance to load up at super low price. And then I just waited for the right time to sell. Never expected it to come so soon. If I now have to wait a few months to get 200% on my investment, I am perfectly fine with that.

judging by just your post header It’s disrespect you come off as a pump and dumper the Reddit for Celo is more of a family we are mostly long term holders. And the influx of new people comes with less intelligent questions and that just brings out the worst in people sometimes.

Hey thanks man! Looks like that did the trick!

For everybody out there reading this: if you use Celo in MetaMask, you need some CELO in your wallet to pay for gas. Since gas fees are cheap on the Celo blockchain, you don't need a lot.

Over time Celo is heading to be in top 10 coins Problem is that to get there market will shake of a lot of weak and short time traders. Great example what happened in past few days. Small pump to $4 where a lot of people sold trying to recover their losses and now much bigger rally that I’m sure if you don’t have you celo staked thank you sold. I would expect in coming week or so another rally that will bring it closer to $20-25

It being independent is a good thing, helps with decentralization. Valora will always run on Celo. It's not going anywhere, In fact this means it will be even better, this shows the teams commitment to continue developing on Celo.

You can get their desktop Celo Wallet app. Easy to stake from there. The returns are not fantastic but if you're holding it might be good. You can stake it in lps on Ubeswap. I haven't tried that though.

Celo fluctuates a lot on these types of news, the price gets pumped up, and falls pretty quickly. Been happening the last few times whenever there was a big announcement, like ubeswap, donut hardfork, etc. Goes up about 30% and drops back down 30-40%. Smart to sell now and buy back when it dips to $2 again

This is my personal view. So far the majority of people who put their money into CELO like the project. It not gambling for quick money. As it come to whales you can have a look at top accounts on Celo explorer. It seems well distributed. There are whale alert bots, so far I haven't seen any suspicious tx. For the first private token Sale there were lock up periods and a release plan for early private investors. But in the end you can't control how people behave on any investment, especially when it is decentralised. When it comes to marketing CELO is pretty passiv and avoids any paid influencer activity etc. I guess this is due to regulatory reasons.

I answered a similar question about on-ramping:
"wait if DeFi’s mission is to provide money access to people who don’t have access to banking systems, how do they onramp into crypto in the first place?"

I responded with this:
"A few things come to mind (mostly Celo-related): There are ways for people to earn money in crypto, or just receive money.Examples:

• The Toca app allows people to earn via micro work.
• Impact Market distributes funds to certain communities.
• People sending remittances in crypto.
• Businesses are even getting interested in paying employees/contractors with crypto (This includes cLabs).

All these help eliminate the need to cash-in with fiat. The number of merchants accepting crypto as payments is small, but growing. As more and more communities and businesses start earning and transacting in crypto there will be less need to use, and therefore cash-in, with fiat. DeFi is still young and we still need to get more people on board with it, but once that happens there won’t be a huge need for onramps."

The beautiful thing about Celo is the focus on creating an ecosystem. They encourage participation and innovation (Celo Camp, Gitcoin hackathon), and are focused on making sure they reach all parts of the world (via Celo Ambassadors, Ecosystem Leads, and pilots).

Celo is more than a currency, it’s an eco system. They haven’t done a good job with explaining that but I really do believe celo has everything needed to succeed

Super underrated and unlike other cryptos it already has a usable product and exchange, not just speculation

Exactly. The crypto market at the moment is all about speculation. Celo is simply not a speculative project in my view. I mean look at Ethereum, Matic, Cardano, etc. How many people who buy the token actually use them? Very few I guess, otherwise they would be disgusted...

I don’t think that either of those statements about leverage and ownership are correct or that this is any way a reflection on the merits of Celo or any other coin. This is crypto, the market frequently reacts irrationally and disproportionately to news, that’s why the whole market is down and is exhibiting similar trading patterns. The bull market over shot the value of the entire space and now is over correcting. This happens at least once a year to the entire market because it is developing rapidly and good metrics for accurately valuing it are still being figured out.

It’s a pretty big deal this hard fork will allow Celo to integrate into the broader eth ecosystem an a decent amount more there are a couple videos explaining the hard fork. That an a decent whale moved in last night

Absolutely agree. I’m surprised there isn’t more activity within this community right now!

Definitely a long-term play, digital remittance is long due for disruption and Celo is definitely on the right track.

"Celo, a mobile-first blockchain platform that makes financial tools accessible to anyone with a mobile phone, is a Proof of Stake network, thus making it more earth friendly. However the Celo community felt they could do better and have decided to become one of the first carbon neutral blockchains."

From

So I would say Celo is very earth friendly. 🙂

Yeah I totally agree with this. I think it’s better to research and truly believe in your investment versus chasing pumps. In the end, we are in a huge bull run right now and pretty much all cryptos are doing extremely well. However, in Celo I see something with long term potential. I think the market will eventually see the value in Celo and price accordingly.

I disagree, for a coin that is meant for the public mass we need the the public mass to know about it and one way is definitely memeification. I don't think it will matter much if Celo has the best tech out of all the coins. If no one cares then it's worth nothing

To maintain the stability of cUSD, the protocol sets incentives for users to adjust cUSD supply to match cUSD demand at the price peg. At a high level, the Celo expansion and contraction mechanism allows users to create new cUSD by sending 1 US Dollar worth of cGLD to the reserve, or to burn cUSD by redeeming them for 1 US Dollar worth of cGLD. This mechanism creates incentives such that when demand for cUSD rises users are incentivized to buy 1 US Dollar worth of cGLD on the market, exchange it with the protocol for one cUSD and then sell that cUSD for the market price (Expansion Cycle in below numerical example). This direct link between cUSD and cGLD is driving the market price of cUSD back towards 1 US Dollar without the need for the protocol to estimate the optimal expansion or contraction amounts. Having a crypto-only reserve allows for this process to be running constantly and transparently.

In other words, a greater demand of cUSD or cEUR, less CGLD supply => higher CGLD price per coin, and vice-versa

Ltc has over 200k followers and no real life applications. Celo promises to do amazing things - in part already does- and it has only about 2k followers. My humble opinion- There will be a time when price and notoriety will reverse.

Well I'm not really sure where they go but basically with Valora, I can send any phone number Celo. They get a text telling them they've received money and to access via app. The app guides through wallet setup process and money is already there once app is set up.

Yes have done this multiple times. Celo is a separate layer 1 from ether has its own gas which is far less costly. I mine ether so I know gas is crazy high atm

Depending on your goals research wallets for different things I use celo terminal for staking celo and Valora to link for liquidity mining. Research the risk of the liquidity before joining pools on ubeswap

Staking is easy 5%apy

Hi, Celo Wallet creator here 👋

The wallet should never prefill an address for you. Certainly not a stranger's address. IF YOU ARE SEEING ADDRESSES PRE-FILLED, OR ADDRESSES THAT YOU COPY ARE CHANGED, IT MEANS YOU HAVE MALWARE ON YOUR DESKTOP OR BROWSER.

It's possible you have a malicious browser extension installed since it sounds like you're only seeing this problem in the web version right?

You need to double and triple check your account number. Your Celo wallet account number should start in "0x", to indicate that it is in hexadecimal notation. It should be 40 characters long, plus the "0x" prefix, and the characters should all be numbers or A-F letters.

Also, please send a very small amount first as a test transfer, in case you put in the wrong wallet. Remember that different cryptos use totally different wallet addresses, so don't try to send CELO to a Bitcoin wallet, for example.

You could connect with Ubeswap and swap for any other celo asset. I believe you can buy celo in the Valora app too. Until we have a more debit card like option, I think you have to trade for Celo and sell it on an exchange. If you haven't KYC'd and are trying to move more than $1000, Valora won't do it. Coinbase is my go-to exchange here in the US.

Just a bit of digging on Celo discord.

Hello to all, one question, is marzipan finance a legit celo app?
ArrowCeloRole icon, Moderator — 08/30/2021
There is nothing of such on CELO. It is a scam. Please take note and be aware of scammers.

I typically check with the chain ecosystem if they are somewhat affiliated and also look at their discord how active and how much they interact with the community. $2k is a bit big for me to go into a very speculative dapp. I suggest joining a crypto group (not those useless pump and dump), but one that does a bit of research on chains and different dapps.

Currently Valora only supports Celo and their integrated stable coins cUSD and cEUR. Main use cases I've seen so far are cheaply and easily sending remittances. The charity CARE also selected Celo as platform to use I'm Latin America. Biggest issue currently is the off ramp from Valora. Right now you can't withdraw directly to bank account, only wallet or exchange. You can purchase gift cards as well to companies like Amazon so that is useful. I imagine there will eventually be a way to link to bank account just not yet

After last night I am way up! My break even was around ~5.80 before, but I pulled out all of my ETH and dumped into Celo. I know the volatility and swings deters some people and most would never want to sell at a loss to hold for a dip, I wasn’t reluctant to do so, but it all worked out and I have much more tokens than if I would’ve held lol never had this happen before so it was a nerve racking experience.

With the momentum Celo has at the moment, it could be possible. That would be a market cap of around 30B which isn't that big compared to some other projects out there.

I'm thinking of selling my ADA to increase my bag of CELO.

I just almost sold all my Celo based on this well explained reasoning of yours. Makes absolutely sense! How could I have been so stupid and invest into a HOAX coin and make 300% profits! And then I did an even more stupid stupid thing and invested the profits to buy 200% more Celo at a discounted price! My wife will divorce me once she finds out this information that its a HOAX! I will now have to make 300% profits again on my increased Celo holding and take her to Hawaii! Damn you! (Insert )

Yeah, i'm pleased with the consolidation in the $5's. A few months ago, Celo toyed with $5's, but was never really "comfortable" there. I feel like whales are slowly accumulating right now (with all the mini-spikes and mini-dumps). The circulating supply isn't that big, so it's easy to manipulate.

But very soon, we're going to be in a new price tier. I'm predicting (why not?) $8-10's before the end of the year.

Not a good decision for sure, but that´s how crypto works. They had a great chance to DCA in the recent drop with prices around $4 and once Celo corrects back up to $7-8 they will be in the green again and hopefully learned a lesson. If they sold for a loss, then they made the wrong choice, cause Celo will be above $11 for sure in due time.