Bitpowr & Celo
You can now directly transact, store, transfer or build with Celo (MAINNET, TESTNET ) on Bitpowr.
- Bitpowr also provides token support with CELO, cUSD, and cEUR for retail customers through Rest API.
- You can also store and transfer CELO, cUSD, cEUR from your Bitpowr Vault.
How does Celo Work on Bitpowr?
- For Instance, User A is a user on Bitpowr and he wants to send Celo to User B
- The acceptance criteria is that User A must have his Celo asset to be funded.
- User A will then request for User B Celo address.
- User A will now proceed with on-chain transaction of the amount of Celo he chooses to send to User B.
These criteria works also for cUSD and cEUR on Bitpowr
What Is Celo?
Celo is a platform that enables mobile users all over the world to perform easy financial transactions using cryptocurrency.
It uses a consensus algorithm based on Proof-of-Stake (PoS). In comparison to Proof-of-Work (PoW) systems such as Bitcoin, this eliminates the negative environmental impact and allows users to perform transactions that are cheaper, faster and immutable transactions.
Celo Mento stablecoins are Celo Dollars (cUSD), Celo Euros (cEUR) and Celo Reals (cREAL). These stablecoins allow you to share value faster, cheaper, and more easily. They instantly unlock access for everyday uses like low-cost remittances and cross-border payments, global distribution of charitable aid, effortlessly paying online, or transferring value within exchanges, particularly in markets subject to currency volatility.
Celo gives you the tools you need to easily integrate DeFi into your existing mobile app or blockchain business. Using their worldwide financial infrastructure, you can receive payments, send payouts, and manage all of your DeFi needs.
