What Is Celsius.network
Celsius.network (CEL) is an all-in-one banking and financial services platform for cryptocurrency users. Launched in June 2018, it offers rewards for depositing cryptocurrency, along with services such as loans and wallet-style payments. Users of the platform receive regular payouts and interest on their holdings. Celsius’ native token, CEL, performs a variety of internal functions, including boosting user payouts if used as the payment currency.
An economy where financial freedom doesn’t come with a price tag. Where the interests of the people are put first. Where ethical behavior is the baseline, and where everyone – and we mean everyone – has the opportunity to succeed financially. With a little bit of humanity and honesty and the power of a digital currency that’s as strong as it is accessible, we’re ushering in the new economy today.
Celsius.network is proud to provide a platform of curated services that have been abandoned by big banks – things like fair interest, zero fees, and lightning quick transactions. The goal is to disrupt the financial industry, one happy user at a time, and introduce financial freedom through crypto.
Important Points Table Of Celsius.network
| Basic | Points |
|---|---|
| Coin Name | Celsius.network |
| Short Name | CEL |
| Max Supply | 695,658,161 CEL |
| Explorer | Click Here To View |
| Source | Click Here To View |
| Website | Click Here To Visit |
How to Buy the Celsius.network (CEL) Coin & Trade On Exchange?
What Makes Celsius Unique?
Celsius aims to outperform banks at their own game by offering financial services on the kind of terms which traditional financial institutions no longer offer.
These include much higher rates of returns on savings and deposits, much easier and fairer loan requirements and automated rewards computed for each user algorithmically. Penalties and bank-style fees are also waived.
The platform also functions as a wallet via its CelPay feature, and hosts its own CEL token which users can leverage to increase payout value among other things.
As a for-profit company, Celsius takes a cut of profit margins on interest payments, still returning 80% to users themselves. The company also lends to institutional entities such as hedge funds.
Payments are ensured because loans are asset-backed, and any borrower must supply more than 100% of what they borrow in the destination currency.
A utility token with real rewards
CEL Tokens give you access to higher rates on earnings and lower rates on loans – a win-win if there ever was one. Looking to make an order over $25,000 USD?
Even higher earned rewards
Choose to earn your weekly rewards in CEL tokens and receive up to 25%** more rewards on all deposits of non-CEL coins.
Even lower interest rate loans
If you pay interest on your loans with CEL tokens you will receive up to a 30%* discount on all of your interest payments.
Lower interest rates for institutions
Institutions that borrow coins benefit from paying their interest with CEL, and receive up to a 30% discount on their interest payments.
Team
How Is the Celsius Network Secured?
Celsius uses a modified proof-of-stake algorithm for its token, while broader security procedures were outlined in a dedicated presentation in June 2020, still available on the company’s website.
As with any client-orientated wallet, the risk of theft from attacks such as SIM-swapping is present if users themselves do not have adequate protections in place such as two-factor authentication.
Withdrawal Fees
Celsius is here to make you money, not take your money. Which is why they pay for the fees associated with any withdrawals.
Withdrawal fees?
Celsius- 0
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Where Can You Buy Celsius (CEL)?
CEL is a publicly-tradable token on major exchanges, with pairs available for cryptocurrencies and stablecoins. As of October 2020, automated market makers (AMMs) held the lion’s share of trading volume, with popular pairs being for Bitcoin (BTC) and Wrapped Ether (WETH).