Celo is a lesser-known crypto coin that has large, real-world applications. NFTs are being created, bought, and sold on their blockchain. Money is being sent in the same way as Paypal or Venmo from mobile phones. The real questions become, is Celo undervalued currently, and what makes it different from the thousands of other coins/tokens that exist.
Celo On Reddit
Reddit user smallbear_223 says this is why he thinks Celo is great:
“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.”
Another Reddit Response
Reddit user Technical-Advisor states:
“Couldn’t agree more here.
Going beyond just celo and Valora, their ecosystem is putting a huge emphasis on UX.
Yield farming and swapping on ubeswap is simple and clean. Not to mention, mobile which is crazy.
Accessing crypto loans via Moola is unbelievably simple and easy to use. Wrapping your head around leveraged positions is a different story but the process of taking out a crypto loan is clean.
Plock.fi (their defi dashboard) is awesome too. Just started playing around with this.
Another piece that I think gets overlooked is the research that goes into their roadmap. They are constantly working in the field to figure out what their global user base wants and then building that into their platform.
I think the last thing is their story. They’ve done a really good job building a vision for what finance could be. Things are pretty rough for like 70% of people on this plant and celo seems committed to trying to make things a little better for everyone who isn’t included in the modern financial realm.”
Celo in the world
Celo has been taking strides to connect the less fortunate with access to money. Going beyond the practical aspect of having a token that is understandable with a real application, Celo is working hard to make a difference in real-time in places that are underprivileged.
