Celsius Sign Up Bonus and Wallet Review 2021

Celsius Print Screen for article about Sign Up Bonus and Wallet Review 2021

Welcome,

Here you will find the best Celsius sign up bonus and wallet review for 2021.

We will go through the features and compare with some of the Celsius Network competitors.

We will go through what the Celsius native token, CEL, is.

In addition we cover why Celsius distribute 80% of their income to their users, how much you can earn and what coins are supported.

We have used the Celsius Network app for over 2 years now and we are very satisfied with our cypto passive income generated from Celsius.

Right now you will get $50 + $50 with your first transfer of $400 or more in crypto, and hold for 30 days

Code: 187146807e

What is Celsius Network?

Basically, the Celsius Network is a centralized crypto lending platform where you can lend or borrow crypto.

The Celsius Network consists of 5 main features

  1. Lending – Earn Crypto
  2. Borrowing – Cash Loans
  3. Paying -CelPay
  4. Celsius Credit Card (coming soon)
  5. CEL token
In this article, we will focus on the lending and earning feature since there is where we have experience with Celsius Network.
 
For an animated explanation what Celsius Network is, see this video.

How do I sign up and get Started with Celsius 2021?

The steps to sign up and deposit crypto to Celsius Network are very straight forward. 

However, we created a separate step-by-step guide to help you out on this anyway. 

See our guide on how to sign up with Celsius Network and deposit Ethereum to earn 10%.

Celsius token CEL Tokenomics Review

Celisus have their own token, CEL, that serves 2 purposes for the customer

  1. If you hold the CEL token, you can earn up 25% more interest if you are a lender
  2. If you hold the CEL token, you can pay less interest if you are a borrower. Up to 25% discount
 CEL token distribution September 2021
  • Circulating supply 423.000.00
  • Celsius Team 11.000.000
  • Celsius Treasury 155.000.000
  • Loan Collateral 117.000.000
  • Total supply 695.000.000
  • Max supply ?
 See more information about the Celsius Network CEL token in Coingecko.

CEL token demand VS supply

 

  • Customers can get higher returns on the deposit if they hold CEL tokens (loyalty levels) 
  • Institutional receives 35% discount if they pay interest in the CEL token
  • Community chose to get interest in the CEL token. This results in Celsius have to buy CEL from the market to pay interest
  • CEL stake possibility to receive 5%

How much can I earn with Celsius?

Celsius gives you the possibility to earn high interest rates on your crypto deposits. 

For all interest rates, see the table below where the green numbers are the maximum interest you can get if you are a platinum member. See different loyalty levels further below.

tabel with Celsius best interest rates for some cryptocurrencies

How does Celisus earn money?

Celsius earn money by lend out money from depositors to institutions. 

The company lends to private borrowers and have signed contracts with over 180 financial institutions. Celsius Network uses crypto as collateral.

Celsius is unique by paying 80% of the profit back to the users. Competitors, like Nexo for instance, pay 30% back to their users which also is great but not close to what Celsius does.

Read more about Nexo in our NEXO wallet review.

Right now you will get $50 + $50 with your first transfer of $400 or more in crypto, and hold for 30 days

Code: 187146807e

The Team behind the Celsius Network

Alex Mashinsky is the CEO of the company and he has a very solid background in the internet industry. Alex has previously founded seven New York City-based startups and have raised over $1 billion. Alex founded two of the New York City´s top 10 venture-backed exits since 2000, Arbinet and Transit Wireless.

S. Daniel Leon is the founding president and COO of the company and has a business and social entreprenur background. He has been CEO of Atlis Labs and Beyon3D. In addition, he has been chairman of HereO and general manager of GroundLink.

Nuke Goldstein is the CTO of the company and is a software developer with a career within AI, IoT and blockchain.

Harumi Urata-Thompson is the CFO of the company and serves on the board of the directors for several companies and speaks on topics including Blockchain, Artificial Intelligence, Cryptocurrency, Cybersecurity and much more.

Jeremie Beaudry is the CCO and GC of Celsius Network.

Camilla Churcher is the global head of business development.

Aliza Landes is the VP lending.

Below is an interview with the CEO, Alex Mashinsky.

Right now you will get $50 + $50 with your first transfer of $400 or more in crypto, and hold for 30 days

Code: 187146807e

Celsius Network Loyalty levels and rewards program

There are three different loyalty levels you can reach in the Celsius Network. 

The loyalty level is dependent on what ratio between CEL holding and total holdings you have in your Celsius account.

Celsius Wallet loyalty levels 2021

In order to take advantage of Celsius Network benefits a use must hold at least one CEL token. 

When the loans will be limited the Celsius Network will reorder the queue based on CEL token balance and CEL token HODL time. 

The 100 members with the largest holding of CEL balance will receiv premium support and gifts.

Advantages of Celsius Network

  • No minimum deposit
  • No fees
  • Earn interest in CEL or the native currency
  • Earn more with CEL, up to 25%
  • No lock up period for your funds
  • BitGo Insurance – protect all cold wallets
  • Hot wallet insurance

Disadvantages of Celsius Network

No access to the private keys

Celsius Network Risks Review

Celsius do security lending with collateral. It´s very uncommon to default such loans since they are covered by a collateral and often secured by a margin call.

Celsius Network do lend crypto to crypto exchanges or large institutions with a large balance sheet.

If the balance sheet is large, the requested collateral from Celsius is smaller.

However, there are also risks for data breaches with centralized companies. You might want to read more what happened BlockFi SIM swap attack

Conclusion Celsius Network Review

Celsius Network is a great application to put your crypto or stablecoins holdings to earn a great return. They give 80% of their profit back to their community which is the best you can find. 

Nexo, which is also great, gives back 30% to their community. In addition, there is a great and trustful team behind the Celsius Network and they have all the technical security and transparency you can ask for. 

We have diversified our crypto portfolio for passive income in different crypto interest accounts like Crypto.com, Nexo and BlockFi.

If you also are interested in diversifying your crypto savings you should read our Crypto.com App Review with $50 referral code and our BlockFi review with $20 sign up bonus.

Share on facebook
Facebook
Share on pinterest
Pinterest
Share on twitter
Twitter