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Celsius Crypto News 2023.
In 2023, the crypto market continues to thrive, with Bitcoin and other cryptocurrencies gaining immense popularity as financial assets. Among the top players in the crypto wallets lending market is Celsius Crypto Network, attracting thousands of investors worldwide. It’s a win-win platform where borrowers and lenders meet, offering lucrative interest rates for those lending their Bitcoin assets.
With the lowest fees and best rates, Celsius stands out in the industry, providing interest accounts and crypto loans. Borrowers can benefit too, as their borrowed BTC assets are invested in technology projects and decentralized finance, leading to high profits. Join the Celsius Network and be part of the crypto revolution!
Celsius Crypto News Network Summary
Registration Address: 121 River Street, PH05, Hoboken, NJ 07030, США.
Official Website- https://celsius.network/
Contacts Email: app@celsius.network,
Phone: +1 201 824 2888
Headquarters – London, United Kingdom
Found in– 2017
Native Token– Yes
Listed Cryptocurrency– 40+ Crypto Asset
Supported Fiat Currencies-USD, EUR, AUD, CAD, and more
APY– Up to 17.78% APY
APP– Yes
Customer Support– Contact Form & FAQ Support
Celsius Network Fees – No Charges for Services Used
- The platform does not charge any fees for the services used.
- There are no upfront fees, unlike traditional banks, and no hidden fees for years.
- Withdrawal fees, transaction fees, early termination fees, and transfer fees are not charged.
- The Celsius wallet is free to use.
- There are no origination fees, even for loans taken.
- No early termination fees are charged for ending agreements prematurely.
- No deposit fees are imposed on users.
- There is no minimum deposit amount required.
What is Celsius Network?
Celsius Crypto Network is a leading blockchain-based cryptocurrency lending platform known for offering the best Bitcoin loans at excellent rates. Founded in 2017 by S. Daniel John, Alex Mashinsky, and Nuke Goldstein, the platform aims to provide instant access to crypto credit facilities and passive interest income. It has seen significant growth, raising nearly $100 million in investment funds. Celsius Network simplifies Bitcoin lending, making it accessible to people globally, and offers low rates on financial lending services. With the Celsius web and mobile apps, sending cryptocurrency has become quick and easy. It continues to thrive as a top player in the crypto lending space.
How Does Celsius Network Work?
- Celsius Network operates as a peer-to-peer lending platform for cryptocurrencies, allowing borrowers to use their crypto as collateral to access fiat funds with minimal interest rates. The Celsius wallet app is user-friendly, but support for certain features may vary by country. In the U.S., users must comply with KYC requirements and can fund their accounts through various methods. The platform offers interest payments deposited directly to users’ accounts every Monday and provides other financial solutions, including hassle-free crypto-backed loans. Borrowers can keep their coins in their wallets and continue earning while repaying the loan, creating a unique win-win banking scenario. However, certain restrictions apply to U.S. residents, including limited access to Celsius’ loyalty-reward token, CEL.
Top Benefits of Celsius Crypto Network:
- High rewards on Bitcoin deposits attract investors.
- Favorable interest rates on Bitcoin loans benefit both borrowers and lenders.
- Simplified process for borrowing loans using cryptocurrency or cash.
- Fee-free sending and receiving of cryptocurrency funds.
- A reliable source of passive cash-based income for crypto investors and traders.
- A beginner-friendly platform for newcomers in the crypto lending space.
Advantages of Trading with Celsius:
- High security with a 6-character password and two-factor authentication for account protection.
- Low minimum deposit requirement of $1.
- Wide selection of available cryptocurrencies for trading.
- High-interest rates for holding CEL, the native token of the exchange.
- Bonus promo codes for new users.
- Zero cryptocurrency deposit and withdrawal fees.
- Referral program for additional benefits.
Disadvantages of Celsius:
- Limited instant digital asset exchange options.
- Fees on deposits and withdrawals in fiat currency.
- Lower APY for holding popular cryptocurrencies compared to competitors.
Advantages of Celsius Pro:
- Capital efficiency with access to various digital asset portfolios at the best price.
- Comprehensive treasury management for corporate and institutional clients, offering rewards for lending to Celsius without collateral.
- Customized collateral programs, including CEL tokens.
- Expansive asset inventory with access to 40+ assets.
How to Use Celsius Network App?
To use the Celsius Crypto Network mobile app, follow these steps:
- Download the Celsius app from the Google Play Store or Apple App Store.
- Sign up and create your account on the app.
- Verify your identity as required.
- Start putting your crypto assets to work and earn rewards.
The app is available for both iOS and Android users, and crypto traders can install it from their respective app stores to enjoy its benefits and potentially earn a bonus.
Celsius Network's Product Offerings
Celsius Network is a blockchain-based centralized lending platform that offers two main products:
- Borrowing: Users can borrow cryptocurrencies from Celsius by using their crypto assets as collateral. This allows them to access fiat funds without selling their crypto holdings. They can choose from various loan options, and the process is hassle-free, with no credit checks.
- Earning Interest: Users can also deposit their cryptocurrencies with Celsius and earn interest on their holdings. Celsius offers competitive interest rates on a wide range of cryptocurrencies, allowing users to grow their wealth passively.
These products provide users with flexible financial solutions, making Celsius Network a popular choice for both borrowers and investors seeking to earn passive income on their crypto assets.
Celsius Network Loan Example – Savings with CEL Tokens
Loan Amount: $1,000
Loan Term: 12 Months
LTV: 50%
Collateral: Bitcoin (0.0581 BTC)
Payment Type: USD coin/cash
APR: $89.50
Total Interest: 8.95%
Cost Per Month: $7.46
By choosing CEL tokens as the payment type, the interest rates decrease:
APR: 6.27%
Total Interest: $62.70
Further decreasing the LTV to 25% paid in CEL results in much lower interest rates:
APR: 0.70%
Total Interest: $7.00
Note that CEL’s value can fluctuate, so it’s essential to consider that. There are loan configurations with interest rates as low as 1%, and the minimum loan term for any loan is six months. Over 30 coins can be used as collateral, and Celsius may lend out your collateral to institutional investors. The loan approval process is instant, and there are no credit checks.
Earn More with Celsius Network - Weekly Crypto Rewards and CEL Tokens Availability
- Depositing your crypto with Celsius Network allows you to earn additional cryptocurrency or rewards without any minimum balance or fees.
- Payouts are made weekly, providing a convenient way to grow your crypto holdings.
- Earnings are referred to as “rewards” and vary based on the type of cryptocurrency and your location.
- Non-U.S. residents can qualify for loyalty tiers, earning reward bonuses based on the percentage of their crypto portfolio in CEL tokens.
- CEL rewards offer higher rates, but unfortunately, they are currently not available for U.S. crypto holders.
- U.S. residents may miss out on the best rates Celsius has to offer due to the unavailability of CEL rewards for them.
- It’s crucial to keep in mind that CEL rates are dynamic and subject to change over time, necessitating staying updated on the latest rates.
Celsius Network Services - Become an Ambassador, Community Translation, Swag Shop, and Celsius Pro
- Become an Ambassador: The program aims to bring 100 million people into the Celsius Crypto community. Existing Celsius members can also contribute to this goal. Ambassadors enjoy benefits like limited edition Celsius Swag and the opportunity to meet the company’s team personally.
- Community Translation: This service allows users to understand the safety of their funds compared to other crypto companies. They can connect with other community members and gain insights into investment strategies.
- Top 500 HODLers List: Users can join the Top 500 HODLers list by submitting their names and avatars. It provides a way to know and connect with other members of the community.
- Swag Shop: Celsius Network offers a Swag Shop where users can shop for high-quality accessories, coins, hats, hoodies, shirts, and more.
- Celsius Pro: The pro version offers customizable services for corporate, family, and high-net-worth clients. It provides core Celsius infrastructure and hands-on support for non-retail applications.
Celsius Network Security - ISO/IEC 27001 Certified Protection
Celsius Network prioritizes risk management and ensures high-level security for its users’ data. The platform has obtained ISO/IEC 27001 security certification, providing users with a safe and secure environment for their cryptocurrency transactions and holdings.
Celsius Network Loyalty Tiers - Yields and Rewards Comparison
- Bronze Tier:
• CEL Interest: 5-10%
• Bonus Rewards: 5%
• Loan Interest Discount: 5% - Silver Tier:
• CEL Interest: 10-15%
• Bonus Rewards: 10%
• Loan Interest Discount: 10% - Gold Tier:
• CEL Interest: 15-20%
• Bonus Rewards: 20%
• Loan Interest Discount: 20% - Platinum Tier:
• CEL Interest: 20-100%
• Bonus Rewards: 30%
• Loan Interest Discount: 30%
The higher the number of CEL tokens you hold on the platform, the greater the yields and rewards you receive. However, it’s essential to consider the risk associated with HODLing CEL due to the volatile nature of the crypto market. Evaluate the advantages and disadvantages carefully before making any decisions.
Conclusion:
Given the inherent volatility of the Celsius Crypto industry, it is crucial to carefully consider all aspects before using any platform. In the case of Celsius Network, with its substantial user base and promising prospects, it appears to be a legitimate and trustworthy option.
FAQs:
Yes, Celsius Network is considered safe and reliable for storing and holding cryptocurrencies. It was the first yield provider of crypto and currently holds over $10 billion in assets under management, making it one of the largest consumer-facing crypto yield providers. However, it’s essential to conduct your due diligence before using any financial platform, whether it deals with crypto or fiat.
Yes, the Celsius Network is regulated by the GMO Internet Group, a New York-based regulatory service, and is compliant with the Money Laundering Terrorist Financing and Transfer of Funds Regulations 2017 to prevent illegal activities like money laundering.
Yes, Celsius Network has smartphone and web-based applications that allow users to manage their crypto portfolios and earn compound rewards of up to 15% APY on various cryptocurrencies such as Bitcoin, Ethereum, and Tether. The app provides easy access to buying, sending, earning, and withdrawing tracked crypto.
To get in touch with Celsius Network’s customer service, you can use the contact numbers provided on their official website, which includes both UK and US numbers. Additionally, you can send a message through the Contact Us page on their website to reach their team for assistance.
Celsius Network is a good investment platform, especially for beginners seeking low-risk options for trading crypto and passive investors looking for safety. Its rising graph from January 1, 2021, to April 30, 2021, with a 200% increase, sets it apart from other digital asset lending platforms.
No, Celsius Network is not FDIC insured. Instead, the UK government regulates deposits on the platform, and insurance on Celsius digital assets is offered by Fireblocks and Prime Trust. FDIC insurance does not cover assets deployed by Celsius for generating interest rewards.
