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CELO and Celo Dollars (cUSD)

WHAT'S IN THIS ARTICLEWhat are CELO and Celo Dollars (cUSD), and what’s the difference?Where and how can I get CELO and/or Celo Dollars (cUSD)?How do I cash out or convert my funds on Valora to cash (fiat)?Can I send CELO and cUSD to the same address?

What are CELO and Celo Dollars (cUSD), and what’s the difference?

CELO and cUSD are the current assets supported on the Celo Network, which provides fast, secure, and stable digital payments. The two main differences between the two assets are function and price.

Celo Dollars, or cUSD, is a stablecoin whose value tracks that of the US Dollar. Since it tracks the US Dollar, cUSD is said to be ‘stable’. It is also built for accessibility and ease of use, so you can easily pay, save and send with cUSD using Valora.

CELO is the native asset and core utility, governance, reserve, and staking mechanism for the Celo Network. When you own CELO you can have a say by voting in how the Celo Network evolves and grows over time. CELO has a fixed supply, and a variable value related to the total value of stablecoins in circulation in the Celo ecosystem. Learn more about governance on the Celo Network.

Where and how can I get CELO and/or Celo Dollars (cUSD)?

Please refer to these articles: 

How do I cash out or convert my funds on Valora to cash (fiat)?

Cashing out within Valora is coming soon! In the meantime, you can always transfer cUSD and CELO from Valora to an exchange or other wallet using your Celo address within that service. Please be careful in this process and only transfer funds to an exchange or location you trust. Important to note: do not send cUSD to a CELO-only wallet, or CELO to a cUSD-only wallet. This can result in a loss of funds!

To transfer cUSD, use the “Send” feature. To transfer CELO, navigate to the “Withdraw CELO” feature via Menu > CELO. To learn more, read our article on withdrawing funds.

Can I send CELO and cUSD to the same address?

You may sometimes be able to send CELO and cUSD to the same address., This will depend on where that address was created and where it's hosted. Addresses created on the Celo network via Valora support both cUSD and CELO in your Valora account. However, addresses established through other providers, such as exchanges or other wallets may support both or only one of the two assets. For example, some exchanges, like OKCoin, will support both CELO and cUSD. Other exchanges, like Coinbase, can only support CELO, i.e. addresses on Coinbase are CELO-only.

Please remember to check which asset is supported before beginning any transaction. Learn more about best practices when sending funds.

For a list of exchanges that support CELO or cUSD, please view our article on Sending CELO/cUSD to Valora from a Cryptocurrency Exchange.

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