Celsius.network

Celsius Network: Cryptocurrency Lending & Borrowing

Discover Celsius Network, a platform offering rewards on deposited coins and lower loan rates than banks, for higher returns on savings.

What is Celsius.network?

Celsius Network is a decentralized lending platform founded in 2017 that allows cryptocurrency holders to earn interest on their deposited coins or borrow funds using their holdings as collateral.

It operates a peer-to-peer model where users can earn weekly compounding interest by transferring their coins to Celsius. The interest comes from the lending activities of Celsius to institutions, hedge funds, and wholesale borrowers. Celsius offers up to 17% APR interest on stablecoins and 10% or more on coins like Bitcoin, Ethereum, etc.

As a borrower, users can obtain a crypto-backed loan instantly without credit checks at interest rates as low as 1%. By using the deposited cryptocurrency as collateral, borrowers can obtain a cash loan or stablecoins without selling their holdings. Celsius requires a loan to value ratio of 25% to 60%.

Celsius has its own token, CEL, which offers additional benefits like higher interest rates, discounts on loans, and more. The platform is accessible through its website and mobile apps with over 1 million users as of 2021. It aims to bring the next 100 million people to cryptocurrency by providing a platform for lending, borrowing, and payments.

Celsius.network Features

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