Celsius Network returns over $1 Billion to its Community

Celsius Network returns over $1 Billion to its community. In a recent announcement, Celsius Network, the world’s top cryptocurrency earning. Also borrowing platform, said it has given more over $1 billion in digital assets to its community of 1.2 million users. Marking the highest yield paid out to customers by any cryptocurrency platform to date. Celsius accomplished this achievement in just three years. During which time the total assets on the platform had risen to more than $25 billion.

During the Web Summit 2021, Celsius CEO Alex Mashinsky stated, “This success is a testament. To the hard effort our team has put in to deliver for our community and to drive unstoppable development for Celsius.” “This significant achievement demonstrates that it is possible to do good while also doing well.”

Celsius offers yield on 46 various assets, including Bitcoin, Ethereum, and stablecoins. With rewards paid out once a week, on the first Monday of every month, on Celsius. Aside from staking, DeFi, and mining activities, the platform maintains some of the best interest rates. In the cryptocurrency lending business. It generates yield via lending to institutions such as banks and exchanges, as well as individuals.

The fact that Celsius is currently paying $15 million per week in yield while banks. Continue to pay on average 0.01 percent makes it easy to understand why so many people have chosen. To create accounts with Celsius and earn yield on cryptocurrencies.

Celsius provides real-time information about its assets, loans, users, and incentives. Awarded as part of its Proof of Community (POC) and Rewards Explorer initiatives. Celsius customers are not charged any fees and receive weekly yield payments.

More About Celsius Network

Celsius assists hundreds of millions of people around the world in achieving financial independence. With a compounding yield service and immediate low-cost loans. That are accessible via the web and mobile app. Celsius is a blockchain-based fee-free platform that provides access. To curated financial services that are not available through traditional financial institutions. Celsius was founded on the principle that financial services should only act. In the best interests of their customers and the community.

Celsius provides excellent interest rates for cryptocurrencies held in escrow on a daily basis. You can also borrow in cryptocurrency or USD at competitive interest rates. Additionally, you can send cryptocurrency to another person using the Celsius app without incurring any additional fees.

You have the option of borrowing in cash or CEL (the native token of Celsius). If you need money to spend, you’ll prefer to borrow it in cash rather than a credit card. There more than 40 coins that can used as collateral in the United States. It’s also important to note that Celsius may lend your collateral to institutional investors.

Instant loan approvals are available, and there are no credit checks performed. In addition, you will not required to pay any origination fees.

To avoid placing all of your cryptocurrency as collateral, you can pick how much to place as collateral. The loan-to-value (LTV) ratio is a measure of how much money owed on a house. Celsius provides three different loan-to-value (LTV) options: 25 percent, 33 percent, and 50 percent. California residents who choose a 25 percent loan-to-value ratio are currently eligible. For a 0 percent annual percentage rate (APR).

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