We all know that the crypto market is highly volatile. So it’s no wonder that hodling as an investment strategy is becoming more and more popular. But, storing coins in a cold wallet or on a crypto exchange won’t generate any interest and is essentially the digital form of storing your money under your mattress. Celsius Network is adressing this problem head-on.
According to Bill Gates, “The world needs banking, but it does not need banks.“. It’s a concept that Celsius takes to heart and inspired their company motto “Unbank Yourself.” So, the company decided to create a P2P platform that utilizes several profit-generating approaches (for example, proof-of-stake) and enables crypto holders to earn coins by lending and hodling.
Celsius Network – providing financial freedom
Celsius Network was founded in 2017, and it’s based in the United Kingdom. In March 2018, the company completed its successful ICO, and launched their product, the first fully-fledged interest earning app for cryptocurrency, in June that same year. The wallet is available on the App Store and you can also find it in Google Play.
And now, let’s answer the main question: How you can earn with this Celsius app?
Earn coins with Celsius
Users of the Celsius mobile wallet can earn interest on their cryptocurrency holdings. Rates vary between 3-10% APR, and users have the option to earn up to 25% more interest by receiving interest income in their native CEL token. Every Monday, interest payments are deposited directly into your wallet.
Plus, there is no minimum deposit, and you’ll always have access to your funds. Also, you can withdraw your funds at any time for any amount without fees.
Crypto-backed loans
Celsius also allows you to borrow dollars by using your crypto funds as collateral, with rates as low as 4.95% APR. The app has a loan calculator, which allows you to calculate your loan based on how much collateral you want to use or how much monthly interest you want to pay. Loans through Celsius are also fee-free and with flexible rates.
Wrap-up
Celsius is a platform that solves a problem many crypto holders have: the inability to leverage digital currency to borrow cash and at the same time earn crypto coins while hodling. With Celsius, crypto holders can earn up to 10% interest on their lent coins. Nice work.
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