If you’re interested in investing in crypto and earning interest, Celsius might be for you. This platform offers low rates for crypto-backed loans, while high returns on cryptocurrency rewards. Though available to international users and accredited investors, Celsius’ rates are competitive and comparable to Coinbase’s. Listed below are some features that make it a great choice for investors. Read on to learn more about Celsius and how it can help you get started.
Investing in cryptocurrencies with Celsius
Investing in cryptocurrencies with Celsius has a number of advantages, including security and ease of use. Although the platform is not FDIC-insured, customers should keep this in mind before investing. Government insurance doesn’t cover crypto assets, and the security and safety of customer funds are often questionable. Celsius is one of a handful of sites that do not provide this protection. This means that investors should only deposit the amount that they are willing to lose and should never use this service for serious investing.
Another benefit to investing in cryptocurrencies with Celsius is that you can earn interest on a percentage of your portfolio in CEL tokens. This is similar to the way that other crypto lending platforms work. However, by holding CEL tokens, you are subjecting yourself to greater volatility, which could negatively affect your portfolio performance. Celsius follows a tiered system of interest rates, and investors should be wary of this.
Earning interest with Celsius
By lending out your crypto tokens on Celsius, you can earn interest on your funds. Unlike traditional bank loans, you don’t need to sell the crypto tokens you loan out. Instead, you can borrow dollars against your crypto, earning interest while you do so. This type of loan typically comes with competitive interest rates and the best part is that you’ll still get to keep the crypto tokens after the loan is repaid.
Celcius is a blockchain-based centralized lending platform. It allows users to borrow cash in fiat currency, USD, or other cryptocurrency. Since loans are over-collateralized, customers can earn interest while they repay them, regardless of market fluctuations. Furthermore, borrowers don’t have to worry about getting approved or a minimum balance because they can receive the loan instantly. Plus, there’s no origination fee.
Using Celsius as a wallet
Using Celsius as a wallet can be an easy process, and it offers many advantages. First, it has no transaction fees, withdrawal fees, or early termination fees. Also, unlike Bitcoin, it does not charge for sending and receiving cryptocurrencies. And since it uses the blockchain, its network is completely secure. Once you’ve registered, you can start earning on the spot. You can even withdraw your money whenever you like.
If you’re not a crypto-savvy investor, Celsius may not be for you. The network has features that cater to the specific needs of blockchain-based finance. Users can borrow digital assets from the network, and earn interest every Monday. They can also send funds and buy crypto directly from the app. And the best part is that they don’t require any technical skills. And as a result, they can easily convert their crypto holdings into fiat currency.
Using Celsius as a lending platform
One of the first cryptocurrency lending platforms, Celsius has grown by leaps and bounds over the last two months, growing from under a hundred thousand users in April to over 200,000 in July. It has also issued over $8 billion in loans since its launch in April 2018. In June, the platform closed a $10 million investment round, led by stablecoin issuer Tether. The company is working to incorporate Tethers into the Celsius platform.
The Celsius app is free to download and is a user-friendly platform. You will have to verify your identity and residency to use the platform. There is also a help center that answers frequently-asked questions. If you’re still not sure about any aspect of the platform, you can submit a help request by email and a representative will get back to you as soon as possible. After that, you can start lending with the company’s competitive interest rates.