How to Buy CELO in Australia

A Beginner’s Guide to Buying and Selling CELO Cryptocurrency in Australia

Last Updated July 23rd 2021
5 Min Read

If you’re based in Australia and wish to buy CELO – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many CELO tokens you want to buy.

CELO is a mobile-first blockchain platform that allows its users to easily transfer value in crypto from their smartphone. 

The main idea is to make crypto payments more accessible to investors and other users. It is a less expensive way for new users to enter the industry and start investing. 

CELO cryptocurrency is now available on some crypto exchanges, making it easier for users to buy and sell the token with ease. If you’re looking to invest in CELO in Australia, the following is a guide that can help you.

What's in This Guide?

The guide has information about buying and selling CELO in Australia. It tells you the best place to buy CELO and provides a step-by-step guide for buying the crypto asset. The guide also provides some details about CELO and how it works. There is also a list of some important things you need to consider before buying the token.

  1. QUICK GUIDE: HOW TO BUY CELO IN AUSTRALIA
  2. Where to Buy CELO in Australia
  3. A Step-by-step Guide to Buying CELO in Australia
  4. How to Sell CELO
  5. Which Wallets Can I Use to Hold CELO?
  6. How CELO Works
  7. Key Things to Consider if You're Thinking About Buying CELO in Australia
  8. FAQ

QUICK GUIDE: HOW TO BUY CELO IN AUSTRALIA

  1. Open an account with a cryptocurrency exchange
  2. Verify your account
  3. Go to the deposit section
  4. Go to the platform and select CELO
  5. Enter how many CELO tokens you want to buy
  6. Check the details and confirm your purchase

Where to Buy CELO in Australia

If you’re looking for where to buy CELO in Australia, the best place to go is a cryptocurrency exchange. This is because a crypto exchange provides more security and has a long list of trading pairs you can choose when buying other cryptocurrencies.

A Step-by-step Guide to Buying CELO in Australia 

When buying CELO in Australia, you have two options. You can either buy the token with fiat currency or buy with another cryptocurrency. 

Buying CELO with other cryptocurrencies 

This should be the preferred option if you already have another cryptocurrency in a wallet. All you need to do is register with the exchange and deposit funds directly from the wallet. The option is the easier and faster of the two because virtually all exchanges accept deposits from the top crypto assets.

Buying CELO with fiat currency

Here, this should be your option if you don’t have another cryptocurrency. As a first-time crypto buyer, you should be looking for a crypto exchange that accepts fiat currency. There may be very few of them, but some of the major crypto exchanges accept fiat currencies.  If you’re looking to buy CELO with fiat currency, the following is a guide that can help you.

Step 1: Register for an account with an exchange 

After selecting the exchange that accepts fiat currency, proceed to the registration portal to provide the requirements for your registration. You may be asked to provide your email address, proof of ID, and photos, although this may depend on the exchange.

Also, remember to enable two-factor authentication (2FA) to provide more security to your account.

Step 2: Deposit funds into your account

The next step is to deposit funds into your account. On the account section, select your preferred payment option (credit card, debit card, PayPal, or direct bank transfer). Each of the options has a specific charge, so you need to select the most convenient one for you.

Enter the number of funds you want to deposit and complete the transaction. When the transaction is approved, the amount will be deposited into your online account.

Step 3: Buy CELO 

Most exchanges do not have direct trading pairs for fiat currency and CELO (AUD/CELO). But you can still buy the crypto asset. In this case, you can opt for the BTC/CELO or ETH/CELO trading pairs since these tokens are available across most exchanges. Enter the amount of BTC you want and review your order. When the BTC is deposited into your account, proceed to the BTC/CELO trading pair, which should be available. Enter amount and review order. Once the order is complete and executed, an email notification will be sent to you.

How to Sell CELO

If you’re looking to sell CELO, you need to go to the market section and select the “Sell CELO” option.  Again, you may not find the exact currency or cryptocurrency pair you want in exchange. In this case, you should first sell the CELO in exchange for Bitcoin before buying the currency you want. 

Which Wallets Can I Use to Hold CELO?

Although crypto exchanges can serve as custody for your crypto assets, it’s always safer to keep them in a crypto wallet. Basically, you have two options here: hardware wallet and software wallet. A hardware wallet also called a cold wallet, is better if you want to hold the crypto-asset for a long time. On the other hand, a software wallet (hot wallet) is better for those who want regular online access to their tokens.

However, whether you choose a hardware or software wallet, make sure it is the right fit for your CELO cryptocurrency because not all wallets will be suitable.

How CELO Works

CELO works by linking your phone number to a crypto wallet that offers support for CELO and CUSD. The blockchain stores a hash of the phone number, ensuring that all payments made to the phone number only go to the user. 

CELO has been around for a short time (it was launched in 2020), but the token has received wider adoption by crypto enthusiasts and cryptocurrency exchanges.

Key Things to Consider if You're Thinking About Buying CELO in Australia 

The following are some of the important things you need to consider before you think of buying CELO in Australia.

Consider the volatility in the market

The crypto market is highly volatile. Prices can change suddenly and rapidly. As a result, it’s important to watch the market carefully and invest with caution.

Consider only a reputable exchange 

If you are planning to buy CELO via a crypto exchange, you should carry enough research to make sure your funds are safe. Also, it will be better to choose an exchange that has a large user base to ensure quick transactions on the platform.

Future of the Project

A project with no definitive goal may not have a bright future. Find out all you can about the project’s developers and the team behind it. That way, you will have an idea of whether you should be considering a long-term investment or a short-term option.

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Virtual currencies are highly volatile. Your capital is at risk.

FAQ

Where can I buy CELO in Australia?

The ideal place to buy CELO is in a cryptocurrency exchange because it is much safer and more efficient 

Can I buy CELO with AUD?

Yes, some crypto exchanges will allow you to deposit fiat currency when buying CELO on their platform

Where can I hold CELO?

You can keep your CELO token either in a hardware or software wallet. But it’s important to select the right wallet that is suitable for the token.

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