in this article we will describe, step-by-step, how to stake on Celsius Network. First, you sign up with Celsius Network and start staking BTC, ETH, ADA, USDT or any other cryptocurrency supported by Celsius.
Celsius Network is a great application to start earning passive income on cryptocurrencies.
The steps in this guide includes
- Sign up with Celsius
- Buy cryptocurrency in the Celsius Network app
- Optional: Deposit Ethereum to Celsius Network (Instead of buying in the Celsius app)
- Optional: Buy CEL tokens and increase your loyalty level and raise your return rates
1. Sign Up with celsius Network
First, you need to sign up and create an account with the Celsius Network.
Celsius Network is available both as an mobile app and a desktop version.
Once you have downloaded the app, just follow the easy instructions to sign up.
2. Buy Cryptocurrency with the celsius Network app
There is no possibility to exchange cryptocurrencies on the Celsius Network application.
However, they have some third-party services offer you this in their app.
If you press the “Buy Crypto” button shown in the screenshot below, you will get the alternatives we have presented below.
As you can see in the screenshot below from the Celsius mobile application there are two alternatives to buy cryptocurrencies in the Celsius Network mobile application
3. Deposit Cryptocurrency to celsius Network
Since you might already own any cryptocurrency another crypto exchange or you find more preferable buying rates you might want to deposit ETH, ADA or USDT into your Celsius Network account.
This is how you can do for ETH as an example,
- Login to the app
- Browse to the wallet by clicking the blue C-circle in the lower right corner. Now you will see a menu like the screenshot below.
- After this, press Transfer
- Now, you should look after available coins (If you dont have any ETH deposits before) and look after Ethereum
- Press the Ethereum and a deposit address will show up.
- Send you Ethereum to this address.
4. Buy Celsius CEL token to Increase Loyalty Level and payouts
You must deposit Celsius CEL token if you want to reach the highest loyalty level and receive the highest rates.
Celsius have different loyalty levels dependent on your CEL token holdings ratio.
See the table below for the requirements to reach the different levels.
The loyalty level is dependant on your total holdings and your CEL token holdings ratio.
Lets say you hold a mix of cryptocurrencies worth $10.000 in your Celsius account.
If your CEL token holding are worth $500 – $1000 you have Bronze level.
As you can see, both your bonus rewards and your loan interest discount is dependent on your loyalty level.
You can see your current loyalty level by clicking on the C in the lower right corner.
Now you should see the menu in the previous screenshot.
Here, press My Cel.
Here you see your loyalty level. Our loyalty level is Platinum since our ratio is over 30% (35%). Now Celsius has lowered the Platinum level to 25%.
Also, below the status level circle you have the menu “Earnings”. Here, you can select, whether or not, you prefer your payouts in CEL token. You can do this for each cryptocurrency.
Celsius VS Competitors - Best Interest
How is the Celsius Network VS the competitors? Where can you find the best interest rates?
We always list the best cryptocurrency interest rates for each crypto.
In addition, from that page you can click on each cryptocurrency to find out all available offers and interest rates for that specific crypto.
At the time for writing this, Celsius has the best Bitcoin BTC interest rates.
How to Download Celsius Network Transaction History as a CSV file?
You will have to download your Celsius Network transaction history to be able to report taxes on your interest payouts.
This is how you export and download your Celsius Network transaction history.
- Login to the Celsius Network app
- Click on the C in the lower right corner
- Go to your profile
- Scroll down and look for the bottom “Download transaction history”.
- Celsius Network will now email a CSV file with your transaction history ti your registered email.
After this, you probably want some help with reporting your crypto interest payouts to the tax authorities. We think Koinly is the best crypto tax software to help you sort out all the tax calculations.
How to use Celsius Network Promo codes?
Celsius Network has the best deposit promo codes of all listed companies on Cryptocoinzone.
By clicking the link above you can see all the available deposit promo bonus codes.
Remember, if you are not a user of Celsius Network yet you probably want to use the first deposit code by signing our referral link.
However, if you are already a use of the Celsius Network app you can browse among all these deposit promo codes.
Here is how you will get your Celsius Network promo code bonus payout
- From the profile section of the mobile Celsius app, select ‘Enter a promo code’
- Enter the Celsius Network promo code
- Transfer the specified funds to your Celsius account
- HODL and start earning rewards with Celsius, paid weekly!
Celsius Network Deposit Promo Codes
|Promo Code||Reward Amount||Reward Coin||Minimum Transfer||Eligible Coin(s)||Lock Period|
|STABLE10||$10||BTC||$50||USDC, USDT||30 days|
|STABLE50||$50||BTC||$200||USDC, USDT||30 days|
|STABLE600||$600||BTC||$25,000||USDC, USDT||90 days|
Staking as an alternative to Interest Account
Staking is an alternative, or diversification, to a crypto interest account on Celsius Network.
Staking means that you put your coins at stake for a proof-of-stake blockchain. By doing that, you will receive rewards. These are similar to mining rewards for a proof-of-work blockchain.
You can earn between 5-20% per year by staking different proof-of-stake blockchains.
Read more about how to stake crypto at Coinbase or Kraken.