CELSIUS LOAN: How To Earn Interest Daily Form Cryptocurrency
One of the things I enjoy in Cryptocurrency innovation is PASSIVE INCOME without mincing words that’s why I ask myself, why should I keep my money in the bank and it generates little to no interest while I could convert that same money to a stable coin like USDT and earn up 8% interest just for holding it using Celsius loan.
What is Celsius Loan?
Celsius loan service offers incredible interest rates for cryptocurrencies on deposit. In Celsius, you can also borrow in crypto at low rates. Besides, you can send someone cryptocurrency through the Celsius app without having fees, unlike other platforms.
How Celsius Crypto Works
Celsius Network, a decentralized P2P loan platform powered by the Celsius token (CEL) is now live and accepting loans. The company’s purpose is to procure an alternative to formal banking systems and offer a completely transparent, borderless, and instant lending service for both private and business clients through the Celsius loan service.
One of the ways to do that is by joining Crypto Lending is through the Celsius loan platform.
What is Crypto Lending?
Crypto lending is simply depositing a coin in a lending protocol and earn interest, the same way banks lend out our money to people who borrow from banks.
Thanks to Defi in Cryptocurrency innovation.
There are two major types of lending protocols: Centralised lending platforms and Decentralised lending protocols.
1. Decentralised lending protocols are platforms where you take custody of your assets, with no sign-up or any form of KYC. Examples include AAVE, Compound, Bancor, Maker Dai. Etc.
You only need a mobile wallet like Metamask to interact with these protocols.
2. Centralised lending platforms allow people to borrow, lend and earn interest for lending. It’s centralized because it’s owned by an individual, you need to sign up, KYC, and the company takes custody of your assets. Examples, Nexo, BlockFi, Celsius, etc.
If you ask me for a recommendation, I will recommend “Celsius” and here are my reasons.
You may choose Decentralised lending protocols but remember Defi has some risk!
These centralized lending platforms are New York-based companies.
Is Celsius Loan Network Safe?
Celsius was created in 2017/2018 and it’s owned by Alex Mashinsky.
1. Celsius pays interest up 8% and more unstable coins.
2. It features more coins compared to its counterparts.
3. It has a mobile app
4. It offers free withdrawal fees.
5. It’s simple to use.
6. Withdrawals are made weekly mainly Mondays.
There may be a delay for customer service to attend to you when you have issues which is the downside of Celsius from my findings on most complaints.
If you love passive income and you want to earn holding your favorite coins for the long term.
Celsius App And How it works
Please do your research and if you think Celsius is good for you, download Celsius App from the play store and sign up with this link, below
After signup, wait for some minutes for approval.
Transfer the coin of your choice to the app and start earning: You can un-stake anytime you want.
You’ll receive a $50 bonus when you use this link and you transfer up to $400 at a spot.
There is always risk in every business! Do your research and remember to share with others.