What is Celsius Network?

Interest accounts and lending programs in cryptocurrency are all the rage currently in the blockchain world. These companies replace selfish intermediaries, allow interest-bearing cryptocurrency accounts and low-cost lending that uses bitcoin as collateral.
In doing so, they can provide more significant savings and lending rates, typically cheaper than traditional options. Platforms like Celsius have increased considerably since they allow users to gain a considerable level of passive income on their crypto assets, especially compared to interest rates for fiat-based savings accounts.
Currently, Celsius Network is one of the most popular cryptocurrency loan platforms. We explain all you need to know about the platform in our short review to decide whether it's right for you. Like depositing money into a savings account, Celsius saves you interest on your holdings every week. The concept is relatively simple:
Cryptocurrency is deposited with the Celsius wallet app. The business then lends these monies to retail and institutional lenders. The Celsius team has an 80 percent return on user income.

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    127710ce04

    Celsius Network

    đź’¸ Limited-time: free 100$ in crypto

    Join Celsius Network using promo code: 127710ce04 when signing up and earn $50 in BTC after transferring $400 or more in crypto to your Celsius wallet and holding for 30 days. LIMITED-TIME OFFER! Get an extra $50 with the promo code STABLE50. A minimum of $200 must be transferred in one transaction.

Start your journey towards financial freedom with free $100 in BTC

Here is a brief step-by-step tutorial How to Sign Up to Celsius Network:
Step 1: Download the app here Celsius Network referral link (2021). Alternatively, you can enter Celsius Referral Code: 127710ce04 during sign-up, if you have already installed the app.
Step 2: Verify your account and submit the relevant documents to pass the KYC.
Step 3: Next step is put funds into your Celsius wallet. You get free $50 of BTC with your first transfer of $400 or more in crypto, and stake them for 30 days. LIMITED-TIME OFFER! Get extra $50 with the Celsium Promo Code: STABLE50. You can always find up to date working Promo codes here

Why should you invest in Celsius Network?

The Celsius Network allows you to gain passive income from your crypto-currency holdings, but you need to be aware of several pieces of information.
The primary way to get money from Celsius Network is through interest payments on your assets. You just put bitcoin or other coins in a Celsius wallet to participate. Once you have done that, every Monday, you will earn interest payments in your wallet. You may select whether you get these payments in the same way or CEL.
In addition to the conventional interest in crypto, the Celsius Network also contains the potential of gold. Instead of real gold, Celsius uses XAUT and ERC-20 tokens with gold support.The yearly interest rates change from coin to coin weekly. However, they typically appear to be between 3% to 11%. In addition, you will earn a more significant return if you choose to receive interest payments in CEL. It should be noted that "CEL earnings" are not available for U.S. customers at this time.

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What makes Celsius Network the best? Earning Rewards?

Celsius aims at decentralizing and democratizing money by taking the most important financial service available, borrowing and lending money, in the best interests of consumers.Banks take your money and charge it, which gives you just a tiny proportion of interest rates. They then lend money straight to other individuals and take all of the loan's earnings. Celsius allows individuals to lend their money to others and recover 80% of interest rate earnings, removing the bank from the equation altogether. It also allows them to borrow fiat while paying extremely respectable interest rates by guaranteeing their cryptocurrency.
No minimum deposits - you may start earning money by putting in anything you wish. They treat all their customers similarly regardless of whether they deposit 5 or 5,000,000 dollars.
Now your reward is realistically proportionate to your beginning investment. But to know that everyone may start earning, no matter the size of their finances, is at least an excellent aspect. Celsius Network costs are an uncommon feature, if not unseen, but no withdrawal charge for Celsius Network. This implies that when you withdraw money from the Celsius network, you do not incur any fees. No withdrawal costs, no deposit charges, no transaction charges, no early termination charges, no originating charges.
Choose how to accept or pay interest – the platform lets you collect your interest either on the Celsius platform's native token (the coin you put) or on the CEL tokens. You can earn up to 30% extra interest if you pick this second choice. 

Supported Assets on Celsius

Celsius Network supports over 40 crypto assets, including:

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    Bitcoin (BTC)
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    Ethereum (ETH)
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    Celsius (CEL)
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    Litecoin (LTC)
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    AAVE
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    Polygon (MATIC)
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    Stellar (XLM)
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    Chainlink (LINK)
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    Uniswap (UNI)
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    Decentraland (MANA)
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    EOS
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    PAX Gold (PAXG)
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    Stablecoins (USDC, USDT, BUSD...)

You can find full list here.

Celsius’ future and now features

A long-term community request to update the Touch & Face ID app is at the top of the development list of Celsius and should be addressed very soon. October 19, 2020, added.

BiometricA long-term community request to update the Touch & Face ID app is at the top of the development list of Celsius and should be addressed very soon. October 19, 2020, added.

CelSwapAlex Mashinsky (CEO Celsius Network) spoke more about CelSwap here, first revealed. This is a service entirely separate from the in-app switch. This is a Uniswap fork using CEL token as the basis pair, with a lower cost than Uniswap (DAI-CEL, Uniswap, etc.) (Alex has said 0.2 percent). Celsius will provide liquidity for CelSwap, and 80% of Celsius reverts to depositors in the app, as with other ways to produce money. It started on October 31, 2020.

In-app SwapThe first thing to do is exchange currencies in the app with liquidity pools made by Celsius with $0 swap costs and zero transaction fees. Alex offers further insights in this update and even uses the example to take a stablecoin loan and exchange it directly into another asset in the app. Scheduled launch: 2021. 

Community proofCommunity Proof (PoC) is a new blockchain technology that allows Celsius to independently verify many parameters, including AUM, interest generated and depositor interest. This is also known as Celsius Explorer and is one of the most ambitious aspects of Celsius. It was initially unveiled in August and was also addressed later on. The aim is to create the capacity to collect and bundle usually private and sensitive financial data to be checked without hurting Celsius or its customers on the blockchain. Scheduled launch: 2021. 

Desktop AppWhile Celsius has been revealed to work on a desktop app, there is no actual ETA where it is published. Scheduled launch: 2021.

Credit for pooled assetsIt has been explored in the past, but not recently. However, Celsius previously claimed that they were working on how customers may lease all their assets for a pooled value instead of only one item per loan.

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    Celsius Network overview
    Celsius Network is a network that enables more than 30 cryptocurrencies to purchase, borrow and pay. It functions as something between a savings account and an investment portfolio from a user viewpoint. Thanks to centralization, users might also obtain undercollateralized credits on their crypto assets.
    However, the risk generally associated with crypto-trading is minimized owing to Celsius' unique business strategy. All deposits are protected for up to 100 million dollars, and there are no limits on withdrawals, fees, or lock-in periods, so you may cash out whenever you need. And you can get extra $90 in BTC when using Celsius Network referral code ($50): 127710ce04 and Celsium Network promo code ($50) STABLE50. 

How does Celsius Network work?

The Celsius network consists of host Celsius accounts and several crypto-exchanges to minimize crypto-asset movement outside the system.
Finally, in the Celsius system, there are four essential players:Lenders: depositors earning interest on their accountsBorrowers: Margin traders who want to take short or long positions leveragedPlatform Celsius: facilitates business, monitors risk, and defines trading chargesForeign exchange markets: Executes and provides liquidity and borrowing

Earning

Participants deposit crypto-actives to the platform for extra revenues utilizing the Celsius network and get incentives for several cryptocurrencies, such as Bitcoin, Ethereum, or stablecoins like USDC and USDT.
Celsius maintains deposited assets in a 'Lending Stake Pool' and then lends them to external trading and distributes the income gained to the customers.Celsius utilizes a modified proof-of-stake (PoS) algorithm to calculate the distribution given to lenders according to the amounts placed and with the quantity of days included in the Celsius consensus process.

Borrowing

Some sorts of users may desire to borrow from the Celsius platform.General users: users of the Celsius Network that deposit crypto and use the proceeds to secure a loan.Traders: SEC-registered investors who borrow cash from Celsius lending pools for business. These accounts demand a minimum balance of ten thousand dollars to offset potential losses and charges in some trading activities.Exchanges: institutions that borrow from Celsius lending pools if they need more cash to settle businesses.

So why Celsius?

Celsius is a beautiful site for novices who wish to start purchasing crypto without incurring the entire risk of this unpredictable industry. It is also ideal for passive investors seeking a safer instrument to buy and keep crypto. So use our Celsius Bonus Code and start earning. 

  • Anita Alexander

    Just another crypto enthusiast.

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