Celsius Network is primarily a platform to earn crypto with lending, borrowing, etc., which was founded in the summer of 2017 by founders Alex and Daniel; they drew the plan for Celsius on a coffee shop napkin. And in 2022 Celsius network surpasses $18.13 Billion in assets with an $8.20 Billion loan processed. Therefore, in this Celsius Network review, we’d be talking about the platform and guiding you through the process of earning interest on your crypto.
Celsius Network went bankrupt in 2022. To learn more, read One More Giant Down: Celsius Network files for Chapter 11 Bankruptcy
Table of Contents
Summary
- Transfer crypto in over 30+ cryptocurrencies.
- Earn weekly on crypto – up to 13% APY.
- Easy lending, borrowing, and earning on Celsius mobile app.
- 2M+ Community Members.
- ISO 27001 Certified.
- Available in 150+ Countries.
- Helps users earn high rewards on Bitcoin deposits.
What is Celsius Network?
Celsius Network is a cryptocurrency lending platform that has been offering its services since 2017. Celsius Network offers various financial services like- Crypto collateral loans, CelPay, CEL tokens, etc. Moreover, it is primarily known for offering Bitcoin loans at the best rates.
Furthermore, the platform also has its native cryptocurrency token (CEL), Celsius Network, available on both web and app-based products. Both of them have a minimalist user interface and design of website and app with the availability of dark mode, which has helped the Celsius network gain over 1.5 million+ Celsius users and over 500k+ Downloads with a 3.6-star rating.
CCelsius Network Review: Individuals
Celsius network provides various and individual options where users can earn extra money and rewards. In addition, the Celsius network helps to lend, earn and borrow cryptocurrency.
- Celsius Earn
Users can transfer their cryptocurrency to the celsius network. Users can earn up to 17% and get paid weekly; they consist of various stablecoins, gold coins, and cryptocurrency; users can buy and lend these coins, tokens, and cryptocurrency.
- Buy:
Users can buy bitcoin and other cryptocurrencies by using their bank accounts. In addition, they can earn, buy and borrow and lend and earn money from their services.
- Borrow:
Users can borrow cryptocurrency at 1% APR using their cryptocurrency. In addition, they provide no origination fees, no credit check, and easy finance options, and now their loan services are available in California.
- Celsius Network Credit card
Currently, the celsius network credit card is not released yet, but users can join the waitlist for the credit card; the credit card doesn’t consist of any annual fees and no foreign transaction fees, and no late fees charges.
- Cel Pay:
Celpay is a payment gateway created by the celsius network; it lets the user send or receive the crypto right by the celsius network app. user can send coins to any user who has a Celsius Network app installed on their device.
- Swap:
Celsius network swap is going to come soon but users can join the waitlist of celsius network swap users, by this service users can swap their cryptocurrency or coins
How to get started with Celsius Network?
- To create a new account, users must reach the Celsius network website and hover to the sign-up button. After clicking on it, the user will lend to the signup page.
- Now, users have to fill in all the mandatory details, and the user can also enter a referral code. Then click on the terms and conditions checkbox if you have any. Finally, users have to complete a captcha and then signup.
- Users can also signup with google accounts, Facebook, Twitter, and Apple accounts.
Celsius Network Review: Mobile Application
The Celsius network app is available for Android and iOS devices. The app has over 500k+ downloads with a rating of 3.6 stars on the play store and a 3.8 * rating on the AppStore. Further, the Celsius network provides insurance for the app user. And users can opt for this insurance to protect themselves from counterparty risk; users will get added to the waitlist for this feature by opting in.
Celsius Network Review: Fee Structure
Celsius network doesn’t charge any fees for their service on the website, but there are fees if you’re using the app for third-party services.
- Withdrawal Fee: Celsius Network doesn’t charge any withdrawal fees.
- Deposit Fees: The Celsius network doesn’t charge any deposit fees.
- Minimum Deposit: There is no minimum amount to deposit.
- Loan lending Fee: Users can take the loan at 1% APR using their cryptocurrency. There is no such origination fee for third-party services provided through the app.
- Loan Term: 6 Months, 1 Year, 1.5 Years, 2 Years, 2.5 Years, and 3 Years.
Celsius Network Review: Security
Celsius Network has taken various safety measures to keep the user’s account safe and secure. Celsius network also provides a biometric feature on the app in which users can add their fingerprint to open the account and for the transactions, and the celsius network is ISO 27001 Certified. Some other security measures taken by Celsius network are:
a) HODL Mode
It is a security feature that gives users the ability to disable their account’s outgoing transaction temporarily as per their required time, enabling it is easy but to disable it, users have to wait for 24 hr time period to again activate it
b) 2FA (Two-factor authentication)
2-factor authentication is highly recommended because it boosts the user’s account security. To set up 2-factor authentication (2FA), You need to follow the below steps:
- Log in to your Celsius network account and locate the ‘Security’ setting
- Toggle the 2FA switch to enable it.
- Now, enter the six-digit code.
- After that, Install any Authenticator app on your device.
- Open the app, scan the displayed QR code, or enter the code manually.
- Now, you have to enter the code on the website or app displayed on the authenticator app And then verify the authenticator app.
- Finally, you will receive an email to confirm the authentication. After the confirmation, the 2-factor authentication is enabled.
Celsius Network Review: Other services
Celsius Network services are available in many countries as they serve their service in 150 countries across the globe, which is quite a big scale. As a result, Everyone can benefit from their community services.
1. Ambassador Program
To become ambassadors of the celsius network, users have to fill out a form (Form link), this program has helped bring 100 million people into the crypto industry. Users will get the benefit of the ambassador program as well as meeting the company team.
Also read, Top 8 Crypto Affiliate Programs – Earn Passive Income
2. Swag Shop
Celsius Network has opened a seller page named “Swag Shop” with usastrong.io; here, the user will see clothing of Celsius network like- T-shirts, hoodies, etc.
Celsius Network Review: Supported Currencies
Celsius Network is a cryptocurrency lending platform that supports 40 + cryptocurrencies. Such as Bitcoin, Celsius, Ethereum, USD coin, Polygon, Dogecoin, True USD.
Celsius Network Review: Customer support
Users can get in touch with the customer support agents of the Celsius network at any time of the day. To avail of the customer support services, users can hover over to the “contact us” page, where the user will see two options to contact the customer support team of the Celsius network. Users can either contact via the contact number- +18664635669 provided on their website or contact the team by sending a message along with necessary details from the Contact Us page on the website.
Celsius Network Review: Pros and Cons
| Pros | Cons |
|---|---|
| Available in 150 countries across the globe. | U.S. residents don’t have access to the CEL token or its benefits. |
| The Celsius network app is available on Android and IOS platforms. | HODL can be re-enabled after 24 hours. |
| HODL mode – a safety feature that temporary blocks all withdrawals for a short time period | |
| No fees for loan origination or transfers. | |
Rewards of up to 17% APY are paid out weekly. |
Conclusion
Celsius Network is a crypto lending platform that lets users buy, receive and lend their cryptocurrencies, and that’s how the user gets rewards. Celsius Network is available in 150 countries, and it also has an app with a 3.6-star rating and 500,000+ downloads. In addition, It is an excellent way to earn passive income. Further, Celsius Network also provides other services like the ambassador program, which help users to become a part of the Celsius network. However, It doesn’t provide service in the U.S, which is a significant drawback.
Frequently Asked Questions
Does the Celsius Network provide a credit card?
Yes, Celsius Network will launch their credit card for the user, but users can join the waitlist under construction by reaching out to the Celsius network website.
Is the Celsius Network safe?
Celsius Network takes various safety measures to keep the user’s account secure. For example, they provide HODL mode, which lets the temporary user freeze the transactions, the user can also enable the 2-factor authentication, and the Celsius network is security ISO 27001 Certified.
Does the celsius network have an app?
Yes, the celsius network has an app; the app is available for Android and ios based devices. Celsius Network 3.6 rating and over 500,000+ downloads on play store and 3.8 rating on the app store.
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