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About Celsius Platform

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Overview

Celsius is a decentralized finance (DeFi) platform focusing on crypto lending, borrowing, and earning. It's also a cryptocurrency app that enables the purchase of 10 specific cryptos that can be converted to more than 30 other e-currencies. Here are a few more of it's benfits:

Robust DeFi services.

Celsius is an interest-bearing and crypto-lending DeFi platform. It's accessible via desktop or iOS and Android mobile app. DeFi offers person-to-person financial services -- such as lending, borrowing, and investing for interest -- on a public decentralized blockchain. This approach eliminates the need for financial gatekeepers such as loan officers and banking personnel.

Celsius members can quickly get approved for loans at discounted rates. Others who want to put their assets to work can pledge not to withdraw them -- similar to certificates of deposit (CDs) -- and earn interest on their staked deposit. Or they use their cryptocurrency as collateral and get "flash loans" instantly. The breadth of DeFi services the Celsius offers is exciting to see.

Perks for using its native CEL token.

Celsius offers CEL tokens, Celsius' own loyalty reward token. It also functions as the main method of exchange across the Celsius network. However, U.S. residents can't buy these tokens yet, which is a major drawback.

Earnings are calculated and deposited every week based on three factors: the interest you earned, your loyalty tier, and the specific crypto assets stored in your account. Celsius Network has a four-tier loyalty program that determines your interest rates and other benefits. The tiers are defined by what percentage of your portfolio is held in CEL tokens. The higher percentage of CEL, the better the benefits

Also, all Celsius users are eligible to get a 2% usage reward if they combine CEL tokens with the CelPay feature in the app. It's worth noting that members can send any of the supported cryptos using CelPay -- you just won't get a bonus benefit.

CelPay is an easy-to-use funds transfer system.

The CelPay feature is unique among lending platforms and crypto exchanges. It allows users to pay friends and family in crypto as easily and quickly as more well-known systems such as PayPal. A cool feature is that CelPay does not require the recipient to have a Celsius wallet. It's a convenient and nifty little payment highlight.

Additional Benefits:

Has $30 million in insurance for assets stored in the Celsius wallet app.

Residents from 150 countries can trade via desktop, iOS, or Android apps.

No fees for minimum balances, loan origination, or transfers.


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