The Celsius Network, earn up to 22% interest on Crypto

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If you decide to join the Celsius Network you can use my referral code 161751629e when signing up. This way we both get a bonus of 20$ in BTC if you deposit and hold 200$ for 30 days. https://celsiusnetwork.app.link/161751629e

Last week I decided to give the Celsius Network a try. I immediately saw 3 things that I really liked:
– To earn interest you don’t have to lock your coins
– There is no minimum deposit
– Celsius is Fee Free
The only thing that bothered me, but that’s becoming the standard, is that your crypto is stored on a centralized wallet. This means that you don’t own your keys.

The Celsius Network has a great team behind it. Their CEO, Alex Mashinsky, already founded several notable technology firms in the United States and he’s also one of the inventors of the VOIP (voice over internet protocol).

The more Cel Tokens you own the better interest rates and loan rates you will receive. To calculate this Celsius uses the loyalty program. The bigger part of your portfolio consists of Cel Tokens, the higher your level becomes. The highest level, diamond, gives you a bonus interest rate of 35% when you choose to get paid out in Cel Tokens. The interest gets paid out weekly, on Monday.

How does Celsius get their funds? Celsius gives out loans to exchanges, traders, and hedge funds, these pay interest on that loan and that’s how Celsius gets income. The reason that Celsius can give an interest rate that high is because of how they divide the profit. They use 80% of their profit to give back to the clients and only 20% to put back in the company. They’re trying to go for mass adoption by offering these high-interest rates.

If you want to apply for a loan you will have to put up Cryptocurrency as colleteral, Celsius only gives out Asset-Backed loans. The bigger your collateral the lower the interest you have to pay back.

I think the Cel Token and the Celsius network have a lot of growth potential.

#Celsius #CelsiusNetwork #Cryptocurrency

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The celsius network! Buy, earn, and borrow
on the blockchain
about a week ago i decided to give the
celsius network a try there were three
things that i immediately really liked
about celsius
the first one being that you don’t have
to lock up your coins to receive
interest. You just deposit your coins on
the celsius wallet and you start
receiving a weekly interest
the second one being that there’s no
minimum deposit you can deposit let’s
say
five dollars worth of bitcoin and you
can immediately start earning interest
on it
and the third thing is that celsius
claims it’s fee free
this means that if you have
cryptocurrency on a celsius network and
you want to withdraw it you can do this
without a termination fee or a
withdrawal fee
these are three really interesting
points but there’s also one thing i
liked a little bit less almost all
similar companies do the same
and that is the use of a centralized
wallet this means that your
cryptocurrency is stored on a wallet of
celsius and it means that the keys are
not
in your possession but a thing that
celsius does what most competitors don’t
is that you don’t have to lock up your
cryptocurrency
so if for some reason you decide you
don’t want to work with celsius network
anymore you can decide to withdraw your
fees
and that’s the end of that so all of
this sounds really good but
let’s dive a little bit deeper what is
celsius network
celsius calls itself a peer-to-peer
lending company
if you look at the celsius timeline we
can see that it was founded in the
summer of 2017.
in 2018 they successfully launched their
ico the CEL token and they raised 50
million dollars
in the same year they also launched
their app by may 2019 they reached 30
000 users and
today august 2020 they reached almost
150 000 users so the platform has been
growing at a very rapid pace
the ceo of celsius is alex machinski
before he started with celsius he
already founded several notable
technology firms in the united states
he has an impressive resume with over 35
successful projects
furthermore alex is one of the inventors
of the voice over internet protocol
this protocol is used in programs like
discord where you use
voice chat over the internet i took a
glance on the rest of the team of
celsius and i have to say that most of
them have quite some experience and
really interesting resumes so basically
you can say that celsius has quite an
impressive team behind it and that’s
really a good thing but then we get to
the most important question
on this front page celsius claims that
it can offer up to 10
annual interest if we look at the
supported coins you can even find coins
where there’s an
offered interest of 22.40
so how can this work how can they offer
that much interest while a bank for
example only offers a maximum of
one percent interest well their answer
is really simple they say that banks can
do this
but they don’t they say that banks
typically have around 14 to 25 return on
their capital but they’re keeping 80
percent
of this profit they use the remaining 20
of this profit to pay out the 1
interest at celsius they do the complete
opposite of all their profits they use
80
to give back to the users and they use
the remaining 20
to put back in the company so how does
celsius make this money
celsius earns its profit by lending out
funds to exchanges
traders and hedge funds all those
instances pay an interest on that
loan and celsius uses 80 of this income
to give back to
the users this way they can pay out
these high amount of interests
but why would they do this isn’t it more
logical for a company to keep
more of the profit well it’s their
philosophy they want to go for mass
adoption and they believe that taking 20
of the profit is more fair towards the
users in comparison than the bank
who takes 80 of the profit so are my
funds
saved in the hands of celsius your
cryptocurrency will be stored on a
centralized wallet
this means that the keys are no longer
in your hands so technically it isn’t
your p
so it aren’t your coins but at celsius
you have the option to withdraw your
funds
at any given time without a fee and on
top of this the wallets that you store
your cryptocurrency on on the celsius
network is insured by
bitco bitgo offers an insurance of up to
100 million
dollars against hex and theft etc so i
guess you could say that all of this
sounds rather okay
celsius uses the CEL token. The CEL
token gives the members of celsius who
are also called
celsius access to financial services
like high interest rates and
low loan rates if we look at coin gecko
the coin is not yet available on any of
the major exchanges which means there’s
still a lot of grow potential
the user base is also growing at a rapid
pace so in this moment of time if you
believe that celsius is a decent company
i think the CEL token is not a bad
investment as a reward for buying and
holding CEL tokens
celsius offers the loyalty program
rewards this means that the more
CEL tokens you have in your wallet the
higher interest amounts
you will receive and you will also
receive better rates on your loans
but more on the celsius loyalty program
later so how does it work
well first of all you need to download
the app and create an account
if you’re going to make an account
please use my referral code
this way you get to sign a bonus of 20
us dollars in bitcoin when you deposit
200 or more in crypto and you hold it
for
30 days i’ll add my referral link in the
description
so once you’ve downloaded the app and
you’ve created an account you get to
your wallet
in the wallet you can see my total
wallet balance i have around 5 000 us
dollars worth of cryptocurrency on the
celsius
wallet the biggest part of this consists
out of ethereum
then bitcoin and a little more than 10
of my portfolio consists
out of the celsius token this is for the
loyalty program
if we go to the loyalty level page you
can see that i’m currently gold
like i said before the more CEL tokens
you have in your portfolio the more
interest and better loan rates you will
receive to get the highest amount of
interest
15 of your portfolio needs to consist
out of the CEL token
plus your interests have to be paid out
in cell tokens
this way you get a bonus interest of 35
so how does it work how do you receive
interest so basically you just
deposit an amount of cryptocurrency on
the celsius wallet and you start
receiving a weekly interest
this interest is paid out every monday
so when you’re in your wallet you just
press on deposit
coin then you choose any of the
supported coins let’s say
bitcoin for example then you get the
wallet address and you just
send your cryptocurrency to this wallet
address and you start
earning it’s as simple as that i’ve
already deposited some bitcoin on the
celsius network and as you can see i get
an annual interest of
4.51 if we scroll down a little bit
you can see that you also have the
possibility to earn interest
in CEL token so the more CEL tokens
you have on the celsius wallet the more
interest
you will receive to get this bonus
interest you have to choose to get
paid out interest in cell token there’s
an interesting tool on the celsius
website called
the interest calculator here you can see
how much interest you would
make so for example i currently have 8
ethereum on the celsius wallet
this would result in a weekly payout of
around three dollars a week
after a period of one year i would have
made 155 dollars worth of
interest another interesting thing about
celsius is that your interest
compounds so each passing week i will
receive a little bit more interest
in this tool you also have the
possibility to simulate your earnings if
you do it in
CEL tokens so if i would choose to get
paid out in cell tokens my interest
would become
four dollars a week after a year i would
have earned 211.52 dollars
if we scroll down a little bit we can
find a list of all the supported
coins the interest in black is the earn
in kin so meaning if you stake bitcoin
you will receive your interest in
bitcoin and the interest in green is if
you select to get paid out in
cell tokens and it also assumes that
you’re in the platinum loyalty level
meaning that 15
of your portfolio consists out of the
CEL token this way you get a 35
bonus on the base interest an
interesting thing are the stable coins
on these stable coins you get an
interest of 8.69
if you choose to get paid out in CEL
tokens you get an
interest of almost 12 if we scroll down
a little bit more you can find
the highest amount of interests these
are for the synthetics network token and
the metic network token you get a base
interest of 16.16
and if you choose to get paid out in
CEL tokens you get an
interest of 22.40
so again to earn interest you just open
the app you deposit a coin and after
that you start earning
weekly interest you don’t have to lock
it up and you can retry it at any given
time without a fee
and that brings us to the cryptocurrency
loans celsius claims that they can offer
the lowest loan rates in the industry
and you can get a loan rate starting at
0.70
i have to add that i really don’t like
loans because i don’t want to have a
debt
but that of course is for me personally
i’ll add this bit of information for
people who are interested in
loans so the first question that popped
in my head when i read about these loans
were how do they make sure that they get
their money paid back that’s because
celsius only issues
asset-backed loans in order to receive a
loan you will have to put a collateral
of
cryptocurrency so how does this work
well on the celsius website you can find
a loan
tool you start by saying which
cryptocurrency you want to put up as
collateral
let’s say bitcoin so in order to receive
a loan of 10 000 us
dollars with the lowest interest rates
being 0.7 percent
your loan amount has to be 25 of your
collateral so in the case of our 10
000 3.39 bitcoin will be four times the
amount of our
loan and you also have to pick the
shortest loan term
being six months and on top of that you
also have to pay the interest
in the CEL token the lower the amount
of your collateral and the longer the
loan term
the higher amount of interest you would
have to pay you can also choose to pay
back the interest
in fiat money but this will also
increase your
interest rate i’ll also add the link to
this tool in the description
but again i would really advise people
to think twice before they
start a loan so the loans start at a
thousand dollars and the lowest interest
rate you can get
is 0.70 the loans are
fee free there are no termination fees
and no prepayment fees and no
transaction fees there’s no credit check
so once you’re able to put up
cryptocurrency as collateral you’ll be
able to get a loan
and this loan will get instantly
approved okay so that’s it for my video
about
celsius my first impressions are really
good i really like the philosophy of the
company
where their best strategy for mass
adoption is giving back
80 of the profit and only keeping 20 of
the profit for the company
one of the things i like the most is
that to earn interest you don’t have to
lock up your cryptocurrency you just
deposit on the wallet and you start
earning a weekly interest
i think the platform really has a lot of
potential just like the cell token
i’m going to continue to use celsius so
i’m definitely going to make a couple
more videos about the platform
anyway that was it for this video i hope
you enjoyed it
please leave a like and subscribe if you
did if anything was unclear or if you
have any questions
please leave a comment i also have a
discord server i’ll add the link in the
description
on this server we can discuss anything
cryptocurrency and investing related
and if you’re going to create a celsius
account don’t forget to use my referral
code i’ll also put that in the
description
anyway thanks for watching and bye
you


This article is about alex mashinsky,bitcoin celsius,Bitgo,borrow cryptocurrency,cel token,cel token ico,celsius,celsius loyalty program,celsius network,Ethereum,high interest celsius,interest cryptocurrency,loan cryptocurrency,stake cryptocurrency. Don't forget to check out other posts on cryptocurrency from our website.

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