Why I Trust My Crypto in Celsius Network?

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Why I Trust My Crypto in Celsius Network?

Celsius Network is a crypto lending app available on Android and iOS devices. 

Similar to putting money in a savings account, storing cryptocurrency funds in Celsius earns you interest on your holdings each week. The premise is relatively simple: 

  1. You deposit cryptocurrency into the Celsius app.
  2. The company then loans those funds out to retail and institutional borrowers.
  3. Every Monday, you receive a payment from the revenue that Celsius gains from those loans and other activities. The Celsius team boasts a return of 80% of company revenue to users.

The functionality of the app expands far beyond simple interest payments, though.

On the other side of lending, loans are available through Celsius, as well. By putting up cryptocurrency as collateral, you can take out cash (or stablecoin) loans at a range of different terms. Unlike most traditional loan services, Celsius loans don’t require a credit check and typically grant you approval in minutes.

Celsius Network is not Alex’s first unicorn into the business world. As a pioneer in VOIP (Voice over Internet), Alex helps millions of people to communicate for free through the Internet. He broadcast himself as the CEO of Celsius Network on YouTube Weekly. Personally, I decided to deposit my precious coins into Celsius Network when Alex mentions Vietnam in the Weekly AMA; Alex wants everyone in the world, include a farmer in Vietnam, to earn as much as a bank would earn by apply the banking model of traditional bank to crypto. I am not financial savvy, but Alex and his team’s 1 hour of weekly live stream fully catches my attention. I truly hope Celsius Network can keep their company spreading more in South East Asia, Africa and also maintain their excellent compliance with the government. 

Celsius Network is a SEC compliant. Alex Manishinky has repeated claim Celsius Network always focuses on the “paper work” with the big authority before launching their program to the regions. Celsius has a deal and promised to be left alone for 5 years from 2020. 

Celsius Web App is Here – Say good bye to mobile exclusive! Celsius is available through the Web now. I was extremely hesitated for Celsius to make the service available through the Web. Everyone was mad and anxious because of the late delivery of the Web App, while I was happy because Celsius has taken their time to make sure there are no security risk when publishing the Web service. Now the App is live and functional. I am happy to not be stuck using only iPhone to access my portfolio; especially, the mobile app version do run into a lot of bugs such as freezing, lagging and stuck at login when IOS or Android updated their codes. 

Finally why I trust Celsius, I trust Celsius because it gives me a chance to join an international financial world that crypto has bring to many needed countries. The team also updates their presence and involve every week; the CEO is outstanding in my opinions. I take on my risk on not having my own key to the wallet but if you want to have those passive crypto asset to do something, Celsius is one of the safest place that I think you should invest in. 

Celsius Network