Since the launch of the Internet, our lives have been shaped by technological development, yet still, many consumers have limited financial freedom.

What if you could take financial power back? With blockchain technology, there may be a solution.

Introducing Celsius Network

Celsius is a new way to earn, borrow and pay on the blockchain.

The Celsius wallet allows you to deposit your own cryptocurrency and earn returns on your holdings, or take out loans against your crypto assets.

Alex Mashinsky, CEO and founder of Celsius Network, has a strong history of technological development, particularly seizing opportunities during the nascent stages of the Internet.

Earn interest

As a token holder, once you have deposited your crypto into the Celsius wallet you will start earning interest right away – paid every Monday. Interest rates go as high as 7.5%.

Take loans

Imagine the typical Bitcoin holder. They invested because they believe in the future of Bitcoin. They expect the price of Bitcoin to go up.

Things come up. Sometimes a holder needs fiat currency but they don’t want to sell their Bitcoin.

Celsius solves this problem by allowing you to take out loans with your cryptocurrency as collateral. That way you can maintain your crypto holdings while paying off a loan.

Pay simply

CelPay is another part of Celsius’ offerings, allowing you to feelessly send crypto quickly without using private keys. It works through any messenger, email or social media.

Not only that, you will be paid to use CelPay. Earn 1% on all BTC and ETH transactions and 2% on all CEL transactions via CelPay.

Token utility

The CEL token is an integral part of the system. You will receive better interest rates if you choose to be paid in CEL, while CEL holders will have priority in line for loans and receive better dollar loan rates. If you pay back your loan interest in CEL you will receive better loan rates, too.

When there is a queue for loans, the network looks at two things: CEL balance and HODL ratio. The higher your CEL balance the better, but HODL ratio looks out for the smaller fish too. If you are a dedicated CEL holder they can tell and it will put you in good stead.

Safety

Whenever you are storing your crypto you have to ask yourself: is it safe?

Coins stored in the Celsius wallet are held by BitGo, a blockchain custody solution. Your coins are lent out to various places like hedge funds and traders. Loaned coins are always over-collateralized by another asset.

The coins are lent out from the community pool so your funds are always accessible if you need them. A Celsius community member wrote an in-depth article about the safety of the network if you have a deeper interest.