Celsius network is the king of decentralised finance (DEFI) and is one of the most successful platforms in 2020 where their user base massively increased as Bitcoin. But the success was not only tied to Bitcoins massive surge but also due to its unique selling points. When you transfer your crypto funds to Celsius you automatically start earning interest on those funds. On Bitcoin you earn between 4,5 and 6% in annual return (APY) based on what part of the world you are located. On some coins, users of Celsius earn up to 16% in APY.
But it gets better than that! If you keep 5-30% of your portfolio in CEL you will benefit from a boost to your APY with up to 30%. See the Celsius loyalty tiers below.
The loyalty tiers gives the users a strong incentive to hold CEL, which has led to the price of 1 CEL surge from $0.14 in beginning of 2020 to more than $5 in beginning for February 2021.
There is one downside of Celsius and that is that purchasing CEL inside their app is quite expensive as they use external providers Simplex to facilitate purchases. However there is a workaround.
The innovative crypto exchange FTX (read full review here) has recently listed CEL. If you purchase CEL on FTX you will benefit from low purchasing fees and when you can transfer your newly purchased CEL tokens to the Celsius app you can then benefit from the APY boost. Transferring from FTX to Celsius is free of charge as Celsius pays the transaction fees for its users.
If you haven’t got a Celsius account yet feel free to use my [referral] where you will earn $20 for free when depositing more than $200.
Bitpanda is the leading crypto exchange in Europe with more than 1 million users. You can trade more than +30 cryptocurrencies, tokenized stocks, gold, silver and other metals.