Celsius Network (CEL)
- Category: Lending / Borrowing
- Coin Launched: April, 2017
- Resources: White Paper
- Official Website: Celsius Network
- Reddit: Celsius Network
About Celsius Network
Celsius Network is a P2P lending platform allowing users to borrow and lend cryptocurrencies. The system is based on the Celsius Network native token, CEL.
By using their cryptocurrencies as collateral, borrowers can easily have access to fiat currencies with a small interest rate without the need to sell their cryptocurrencies.
CELSIUS History / Information / Buying / Staking
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CELSIUS HISTORY
Celsius Network was founded in 2017 by Alex Mashinksky and Daniel Leon. Celsius aims to provide a fully community-oriented alternative to traditional financial institutions. After succeeding at raising $50M from its ICO in march 2018, and after a year of building and developing its product, the team launched the Celsius Wallet in early 2019. It allows users to deposit coins as collateral to get loans in dollars, and lend their crypto to earn interest.
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HOW CELSIUS WORKS
Celsius works by users depositing cryptocurrency into the Celsius app. Then the cryptocurrency is loaned out to retail and institutional borrowers. Every Monday, the user will receive a payment from the revenue that Celsius gains from those loans and other activities.
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BENEFITS OF USING CELSIUS
Some of the benefits of using Celsius are:
ROBUST DEFI SERVICES
PERKS FOR USING NATIVE TOKEN CEL
CELPAY IS AN EASY TO USE FUNDS TRANSFER SYSTEM
30 MILLION IN INSURANCE FOR ASSESTS STORED IN THE CELSIUS WALLET
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CAN YOU STAKE CELSIUS
Celsius is available for staking on most exchanges that offer staking rewards You can earn between 5-20% per year by staking different proof-of-stake blockchains.
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OTHER METHODS TO MAKE MONEY WITH CELSIUS
Main way to make money with Celsius are custodial lending providers in return for a set APY.
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COINS SIMILAR TO CELSIUS
Direct competition to Celsius which are considered similar coins are:
AAVE KUSAMA COMPOUNDCURVE FINANCE
