Before trading any crypto assets it is important to understand the risks. This overview summarizes certain risks associated with CELO.
No securities regulatory authority has expressed an opinion about CELO, including an opinion that CELO itself is not a security and/or derivative.
Token Description & Project Background
Celo is a Layer-1 blockchain protocol designed to increase cryptocurrency adoption amongst smartphone users.
The protocol’s approach is billed as a ‘carbon-negative, mobile-first, EVM-compatible blockchain ecosystem leading a thriving new digital economy for all’. Phone numbers act as public keys on the network, in a bid to allow the simple transfer of value across domestic and international borders.
CELO is the network’s native token. It is used to pay on-chain transaction fees and as a governance token. The CELO token was first sold in 2018.
Celo was co-founded in 2017 by Rene Reinsberg and Marek Olszewski.
Risks of CELO
Like an investment in other crypto assets, there are some general risks to investing in CELO. These include: (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to thestatement.
In addition to these general risks, an investment in CELO is subject to the following specific risks:
- The Layer-1 space faces intense competition. Any potential success associated with CELO depends on its rate of adoption by mobile users, projects, and content creators.
- Since 2018, a number of projects have made significant efforts to make their products more mobile-friendly in a bid to appeal to the 6 billion smartphone users Celo cites as their target market.
We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with CELO. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.
The CELO community and core team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of CELO have no recourse to the CELO community, CELO team, or Uphold if CELO declines in value for any reason.
Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.
Uphold’s Evaluation Process
Prior to listing CELO on the Uphold Platform, Uphold performed due diligence on CELO and determined that CELO is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following:
- The creation, governance, usage, and design of CELO, including ensuring the source code being open-source, audited and peer reviewed, security, and roadmap for growth in the developer community.
- The supply, demand, maturity, utility, and liquidity of CELO.
- Marketing materials put forward by the CELO social team including, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
- Material technical risks associated with CELO, including any code defects, security breaches and other threats concerning CELO and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
- Legal and regulatory risks associated with CELO, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of CELO.
Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.
Uphold users should read thestatement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.
Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following. Please also review the for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and statement.
Last updated on June 5, 2023.
How to buy Celo (CELO)
With Uphold, you can buy digital currencies in just 11 clicks - even if you don’t have an account yet.
Nothing could be easier.
Here’s how fast it is to get started:
1. Go toand click .
2. Enter your email address and personal details.
3. Click the link we send you and create a password
… and you’re off to the races!
Just start trading.
Get more coin for your coin
0% withdrawal fees