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[BorisOZ]

I haven't been able to find any other reviews so I thought I'd make one here.
Celsius.network claims to be a wallet type of thing where you can deposit your coins and earn up to 7% interest a year, with no lock in. Interest is said to be calculated daily and handed out weekly. Their website looks like it had lots of effort put into it and they have an android and iOS app for it too. Has anyone had experience with this website before or does anyone know whether it is legit or not? I don't want to deposit my bitcoins before I am sure that they are legit.

 

[matt9005]

The 7% yearly interest it offers is not that unreasonable compared to legitimate sites like freebitcoin and Cointiply which provide 4% and 5% yearly interest respectively. The interest paid is earned by lending out your funds but I'm not that sure about the details. Do you keep your private keys? This program is still relatively new and I would be careful while using it.

 

[BorisOZ]

Their website does look very legitimate and I haven't seen any reviews that say otherwise yet. I agree that the interest rate isn't unreasonable but it sadly is simple interest, not compound meaning that it is potentially less than you could get with Cointiply. Their sign up requires proof of ID and such like many websites but at this stage, I am not willing to give them that kind of information so I'll just HODL somewhere else.

 

[cman8888]

I've been using the Celsius app for around 6 months now, and although I'm sad that the interest is not compounded everything else in the app performs as advertised. Deposits are simple as are the withdrawals. Just note, for security, they only allow one wallet address per crypto type, but that's not an issue for me since I send everything to Coinbase. I mostly use it for the stablecoins because they have the highest interest rates.

Also note, that you must hold at least 1 CEL token (their in network token) in your wallet to earn interest, but I think they give you one free when you sign up. That's how I got mine. Lately, they have been having some regulation issues around the token so I'm not sure what that will turn into, but so far I've been earning interest weekly as usual.

I'm happy to refer any one interested.

 

[9473da]

Celsius Network is a new way to earn, borrow and pay using the blockchain network for this purpose.

Through the Celsius wallet we can monetize our cryptocurrency portfolio by obtaining return on the deposited amount or making loans against our encryption assets.

The explanation for the interest we earn is simple: while traditional banks try to charge as much as possible on fees and use 80% of the interest income earned to pay themselves, their shareholders and investors, Celsius receives the interest and returns it. 80% back to the community thus being able to distribute between 3% and 7.5% when banks barely exceed 1% in interest.

Make money only by HODLing
Of all the interesting features available at Celsius, I highlight the most interesting for this forum, the option to earn money by making HODL funds deposited in our wallet.

The balance you have deposited in your wallet, whether Bitcoin, Ethereum, Litecoin, Dash or any of the other accepted currencies, will yield interest that is paid every week on Monday with rates ranging from 3% to 7.5. % per year.

Interest is calculated daily for each cryptocurrency and distributed on the same cryptocurrency.

On Celsius website there is even a calculator to help you calculate earnings and I used it for the following example:

In this example you can see that with a 1 BTC wallet you will earn $ 7.15 a week by the end of the year with a gain of $ 371.74. This is in the current Bitcoin value scenario because if the cryptocurrency values your return it also values.

Put the Bitcoin to Render
If you are like me and prefer to have your balance yielding instead of being stuck in a "dusting" wallet, try Celsius, which already has a mobile version but will soon have the desktop version.

- For Android https://play.google.com/store/apps/details?id=network.celsius.wallet
- For iOS https://play.google.com/store/apps/details?id=network.celsius.wallet

I suggest you use my invitation code during registration [1122837aad], so you get $ 10 in Bitcoin as soon as you make $ 200 in deposits. This code is placed on the registration form.

 

[9473da]

Now here are the first interest earned just for having the cryptocurrencies HODL in my Celsius wallet!

Now it will be like this every Monday

As you can see I chose to receive in CEL, but I'm still studying if it's worth it. We get more percentage return but how to switch back to BTC? Share your idea in the comments.

 

[9473da]

Change of plans: I turned off the option to receive platform interest on CEL tokens. I've been trying to figure out how I could later use this tokens and can only pass them to an ERC20 contract wallet.

I am not saying that this is not a good way to earn more percentage interest, but as I am not used to this type of wallets I prefer to keep interest coming in according to the cryptocurrency I have in HODL.

If you already use the ERC20 then enjoy

 

[9473da]

What about this week's interest on Celsius? This time I chose to receive everything in the cryptocurrency I have in HODL instead of receiving in CEL.

 

[Joaquin99]

Are they the best option to gain interest in stablecoins?
I think they outperform nexo.io (even though they have a lot of publicity)
I would have to consider it!

 

[9473da]

Are they the best option to gain interest in stablecoins?
I think they outperform nexo.io (even though they have a lot of publicity)
I would have to consider it!

I don't know if they are the best but I trust them enough :)

I also have balance earning interest on Freebitco.in

 

[Joaquin99]

I don't know if they are the best but I trust them enough :)

I also have balance earning interest on Freebitco.in

The interest that Freebitco.in gives is a low rate but still good!
I use BlockFi to generate interest in crypto, but they have limited options (only bitcoin, ethereum and gemini dollar)
That's why I thought it would be better to look for one site where to store my stablecoins like Dai, but I don't know where!

 

[9473da]

Celsius supports a lot of stable coins and you can earn interest for each one of them!

And they have a comparison table for their rates and BlockFi

 

[Joaquin99]

yes! I see!
Well, although the interest in btc offered by blockFi is greater than that rate of Celsius Network (6.2% if you have less than 50BTC, and I think that to have 50btc you need to have enough money).
The same applies to ethereum, but the advantage of celsius is that you can have many active assets.
What is %back to community?

 

[9473da]

What is %back to community?

As Celsius states, they only keep 20% of the profit for them (paying employers, server costs, etc), the 80% profit is distributed to members via interest!

 

[9473da]

Who received the first interest on the platform yesterday?

I have received it again and already made another deposit today to monetize a Bitcoin balance that had on HODL :)

 

[9473da]

This week I received the first interest on my Ethereum balance that I deposited last week.

It's already the third cryptocurrency I've got to earn interest on Celsius instead of standing on my wallet :)

 

[9473da]

From today I will leave 1 Ethereum always on balance yielding weekly interest on Celsius and raise profits

This in addition to the other cryptocurrencies that I have there rendering!

In the meantime today I have already made two withdrawals for my wallet and within seconds I was receiving confirmation of the ongoing transaction.

 

[9473da]

Celsius weekly interest coming into my account and the number of cryptocurrencies going up!

 

[9473da]

Monday, or as I like to remind myself: Celsius Interest Day :)

 

[9473da]

Today's earnings!