What Is Celer Crypto? | UseTheBitcoin


With a large number of projects trying to offer scaling solutions, the so-called Celer crypto or Celer Network aims at offering a second-layer scaling solution to developers in the market. Investors all over the world have been looking at different projects such as Ethereum (ETH) that could have the possibility to revolutionize the blockchain landscape. 

However, there are some issues with these platforms: they are now facing challenges to scale. This is where Celer crypto would make the difference. Developers would be able to create and build decentralized applications (dApps) and run smart contracts without having to be worried about congestion or scalability issues.

In this guide, we focus on what the Celer crypto network is all about, how you can get exposure to it and why this blockchain network could change the way in which we know blockchain technology. 

What is Celer Crypto (CELR)?

Celer crypto or the Celer Network is working in order to create a scalable blockchain network in which developers would be able to create, run and execute smart contracts in an efficient way. Nowadays, most blockchain networks supporting smart contracts are usually constrained by decentralization, security and scalability. 

In some cases, adding scalability means that the network could become less decentralized. Thus, developers have to decide which level of decentralization they are able to accept for the scalability they get. 

Celer Crypto Network Website

Thanks to off-chain scaling solutions, the goal is to push blockchain to the mainstream. This can be achieved by bringing fast, secure and low-cost blockchain applications on Ethereum, Polkadot and other blockchain networks. 

Celer crypto has released the first Generalized State Channel network in the world and it is trying to achieve other milestones. These solutions offered by Celer Network are expected to attract decentralized finance (DeFi) projects, decentralized applications and also a large gaming audience. 

Layer2.Finance

The Layer2.Finance solution provides easy access at a 100x lower cost to decentralized finance solutions. We already know that DeFi is changing the way in which we engage with finance. However, in order to reach mass adoption, it is necessary to reduce transaction fees and make the whole protocol easy to use and understand for newcomers. 

This is where Layer2. Finance offers novel solutions. It allows people to get access to current DeFi protocols but avoids the high fees linked to these DeFi platforms. In this way, Celer crypto offers a DeFi Public Transportation System that acts as a link between the community and the DeFi market. 

cBridge

But that’s not all, Celer is also working on another project called cBridge. This is a multi-chain and cross-layer asset bridge in which it is possible to process instant transfers with zero trust. This is quite important as the goal is to reach larger interoperability across blockchain networks in the market. 

Thanks to the cBridge, users can get access to a multi-chain network that lets participants perform value transfers using Ethereum’s layer-2 chains. The goal is to expand its functionalities to other blockchain networks. 

Celer SDKs

Finally, the Celer Network is also offering a full set of SDKs that would be very useful for developers around the world that want to create low-cost and fast blockchain solutions. This would enable developers to focus on games, DeFi solutions, gaming apps and more. 

Another use case of Celer crypto SDKs is linked to micropayments. We know how important micropayments became in recent years and how blockchain technology could offer this solution to individuals and companies from all around the world. 

There are many other initiatives linked to Celer crypto that are worth taking into consideration. This is just a summary of the most important features and solutions that it is currently offering to developers and participants in the market. 

Is Celer a Good Investment?

This is something that would be defined according to different things. We are not financial advisors and we cannot tell you whether Celer crypto is a good investment or not. Indeed, this would depend on your risk aversion and your cryptocurrency portfolio. 

That being said, Celer crypto has been a great investment for those investors that had access to it before 2021. We will tell you in the following section why this is important. If you believe that scalability requires a new approach, then Celer crypto could be a good option for you to look at and add to your portfolio. 

Remember that you should always make a deep analysis of the projects you invest in before deciding to place your funds in these digital assets. The market remains very volatile and speculative, which could result in fast spikes and price retracements. 

Celer In the Cryptocurrency Market

Celer has had a very positive price action throughout 2021. But before we get into it, let’s analyse the way in which Celer crypto behaved over the last few years. Between March 2019 and February 2021, Celer Network has been in a bear trend. Indeed, it seemed a project that would end like any other type of Initial Coin Offering (ICO) released to the market in 2017. Despite that, Celer was able to be born once again. 

Celer Crypto Coin Price

In 2021, with the expansion of Bitcoin and other virtual currencies, Celer was able to register new all-time highs and provide investors with a large profit if they held the coin for a long period of time. The first peak was reached in March 2021 when the virtual currency hit $0.08. After hitting and surpassing that price level, the digital currency entered a bear market (or a correction). 

This correction was correlated to the period of accumulation that Bitcoin and other large cryptocurrencies experienced between April and July this year. But things got better. In July 2021, the virtual currency started a new bull trend towards new highs, which allowed the coin to hit a price per coin of $0.177, the highest price ever for this digital asset. 

Since then, and until now, the coin has retraced close to 35%. This does not mean that the coin will go directly to zero. This shows that the cryptocurrency market is very volatile and it changes on a daily basis. This is why it is very important to properly analyse the market before investing our funds. 

Where to buy Celer Crypto?

There is a large number of platforms that would let users purchase Celer crypto. The best thing to do is search for a cryptocurrency exchange that would support fiat currencies or that would let you buy Celer with debit or credit cards. 

The platform that you select would depend on many different things, including availability where you are, trading pairs and more. 

Binance

Let’s start with Binance, one of the most used cryptocurrency exchanges around the world. This platform would not only let you buy and sell Celer crypto, but you would also get access to unique other services. 

There are several positive things about Binance. The first thing is related to the fact that it lets users create an account in most jurisdictions around the world (with some exceptions). Additionally, you would also be able to get access to unique services such as lending and borrowing, margin trading and more. 

Binance logo and motto BNB price prediction alternatives to Binance

Binance now has four different trading pairs for CELR traders. These trading pairs include CELR/USDT, CELR/BUSDT, CELR/BTC and CELR/BNB. They all account for 31,72% of the total trading volume for the CELR virtual currency around the world. 

Another thing that is worth mentioning about Binance is that it lets users purchase virtual currencies with a wide range of payment methods. This variety of options makes Binance one of the best platforms to handle virtual currencies in the world. If you want to get exposure to CELR, Binance might be one of the best platforms to do so. 

Crypto.com

Crypto.com is another cryptocurrency exchange and financial platform that is letting users buy and handle a wide range of virtual currencies. This is a platform that would not only allow you to buy and sell CELR but would also be able to get access to unique solutions related to the crypto-financial markets. 

Crypto.com has been expanded as a leader in the crypto space thanks to its unique offer of crypto debit cards connected to the CRO virtual currency. In this way, users are able to use their digital assets to purchase things all over the world through Visa cards. 

Crypto.com Logo with blue bakcground

At the moment, Crypto.com is supporting two different trading pairs for CELR: CELR/USDT and CELR/CRO. These two trading pairs represent close to 4.23% of the total trading volume for the CELR virtual currency in the world. 

Furthermore, if you want to buy virtual currencies with fiat currencies and debit or credit cards, you can easily do so using Crypto.com. Additionally, you would also be able to get unique access to different features offered by the Crypto.com ecosystem. 

Gate.io

Gate.io is one of the oldest and most popular exchanges in the cryptocurrency market. Focused on Asian markets, Gate.io has a trading volume of 0.51% for the CELR virtual currency. This is much less than the previous platforms, but it would let you use not only USDT, but also Ethereum (ETH) to buy and sell Celer Crypto. 

This cryptocurrency exchange has also added some advanced features for investors that want to have a better and more professional trading experience. Many of these tools and solutions can be applied to the CELR/ETH and CELR/USDT trading pairs at this exchange. 

Using Gate.io to trade digital currencies could be one of the best things, as this exchange has been a long-standing player in the cryptocurrency market and it continues to attract new users and investors from all over the world. 

CoinEx

CoinEx is another cryptocurrency exchange that is trying to compete with large companies such as Binance, Coinbase and Huobi. This virtual currency exchange also has its own cryptocurrency token and it has been operating for several years now. 

One of the most interesting things about CoinEx is related to the fact that it has released its own blockchain network with different DeFi solutions for investors, including a decentralized exchange (DEX). CoinEx is offering support to CELR and it is making it possible for users to exchange it for USDT, the largest stablecoin in the market.

According to data shared by CoinGecko, this trading pair represents 0.41% of the total trading volume for this virtual currency. Although it is not among the largest volumes, the exchange has been considered to be a safe platform run by ViaBTC one of the oldest crypto companies. 

If you want to get fast access to Celer crypto, then CoinEx could be one of the best choices you make. 

How to Store Celer Network?

When we hold or manage CELR, we want to make sure that we know how to store them and protect them against hackers and attackers. The first thing that we have to do is create a cryptocurrency wallet. It could be a software or a hardware wallet, which would allow us to protect our funds and handle them at any time. 

Hardware Wallets

The best thing you can do if you are a long term CELR holder is to purchase a cryptocurrency hardware wallet. These are devices that let you store your private keys without being in contact with the internet. In this way, malicious parties would not be able to hack or steal your coins using traditional hacking methods. 

These are the most secure devices if you want to handle your coins and if you want to protect them from attacks. Although you will have to pay to have a hardware wallet, they are highly recommended for long-term holders (as they are resistant and secure devices).

Nonetheless, they might not be the best option for small investors and users that want to handle CELR on a daily basis. 

Software Wallets

Software wallets are the best option to hold your Celer Crypto if you are a holder that prefers to use your funds on a regular basis. Although they are not as secure as hardware wallets, they are definitely a better option than leaving your funds on a cryptocurrency exchange. 

Software wallets would give you the possibility to custody your funds and handle them through a smartphone or a desktop computer. Most investors use a hardware wallet for their savings and a software wallet to handle their digital assets on a day to day basis. Moreover, software wallets are free to use and download, which is an even more convenient feature for CELR holders.



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