Buy Celo
in Canada

The main network of Celo (Mainnet) was launched in April 2020. Celo protocol is an open source, decentralized and distributed blockchain network. The purpose of this network is to create an environment for the development and launch of decentralized applications (DApps) compatible with smartphones. Cello's goal is for every user anywhere in the world to be able to access financial services, in order to transfer money to their contacts and buy goods through a smartphone. In the Celo protocol, there is the ability to develop and deploy smart contracts. The codes of these smart contracts are fully compatible with Ethereum virtual machines. The codes used in the design of the Celo blockchain network architecture are also similar to the Ethereum network codes. However, Celo is a completely separate network from Ethereum.

This network uses ‘zero knowledge proof’ technology and digital signature to optimize its capabilities even in weak connection conditions. In this way, very secure and extremely fast synchronization between smartphones and the Celo network is possible. This means that even users who use weak internet, low bandwidth, expensive services and cheap and old mobile phones can use Celo-based applications.

Currently, Celo network uses two native tokens or crypto assets in its network. One of them is CELO. CELO is the symbol for the cryptocurrency Celo. The symbol CELO is frequently utilized on trading platforms to identify the Celo currency. By searching for CELO on our exchange, you may quickly access information about this cryptocurrency.

Yes. According to the Canada Revenue Agency (CRA), virtual currency is a digital asset that can be used to buy and sell goods or services. According to the definition of virtual currency provided by the Financial Consumer Agency of Canada, digital currencies can be used to buy goods and services on the Internet and in stores that accept digital currencies. Digital currency may also be bought and sold on cryptocurrency exchanges. It is estimated that 1.2 million people, 3.2% of Canada's total population, currently own cryptocurrency.

Yes. According to the Canada Revenue Agency (CRA), tax rules apply to digital currency transactions, including those made with cryptocurrencies. Using digital currency does not exempt consumers from Canadian tax obligations. This means digital currencies are subject to the Income Tax Act. According to the mentioned rules, you will pay Income Tax on half of any crypto asset gains from dispositions of cryptocurrency, as well as Income Tax on any additional income from crypto assets, like staking or being paid in cryptocurrency. As stated by the CRA, you will pay Income Tax on half of any crypto gains from dispositions of cryptocurrency, as well as Income Tax on any additional income from crypto activities, like staking or being paid in cryptocurrency.

CELO cryptocurrency plays a crucial role in the advancement of the Celo platform's ecosystem by aligning the incentives of all stakeholders. It serves as a beneficial asset to the Celo community as it can be used for transactions, reserves, staking, and governance. In addition, CELO holders can use the token to fund community-driven projects that align with the Celo network's mission of financial inclusion.

Anyone. Two common ways to buy cryptocurrency in Canada include either through a broker or directly through an exchange. However, brokers may put restrictions on holdings, withdrawals, transfers and storage depending on their brokerage policy while cryptocurrency exchanges give the account holder more control over their crypto assets. Our exchange allows fast and secure cryptocurrency transactions through different payment services such as: Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer and PayPal, which are supported in Canada. Also, our exchange charges zero transaction fees.