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Celsius Wallet Review: The Very Best Project To Generate Money Passively

Introduction: Celsius Wallet Review

Similar to depositing money into a savings account, storing cryptocurrency funds in degrees Celsius will earn you interest on the assets you hold every 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 of 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 loans, they can also obtain loans through Celsius loans. By using cryptocurrency as collateral, you can withdraw cash (or stable currency) loans under a series of different conditions. Unlike most traditional loan services, Celsius loans do not require a credit check and will usually provide you with approval within a few minutes.

Although Celsius Network isn’t a wallet, per se, it includes the ability to send and receive supported cryptocurrency through CelPay. 
(You can see wallets like Crypto.com)

CelPay doesn’t charge any transaction fees and enables you to send Crypto via a link, message, or directly in-app.

Is Celsius Wallet Safe To Use?

Yes, Celsius Wallet is safe for you to use. 

The company was founded in 2017 by Alex Mashinsky (CEO) and Daniel Leon (Founding President and Chief Operating Officer). Mashinsky is known for his work on applying cell phone service and free WiFi to the New York City subway, enabling WiFI on American flights, and creating Voice over IP (VoIP). Leon (Leon) was a social entrepreneur with outstanding accomplishments, having held leadership positions in various organizations including Atlis Labs, Beyon3D, and GroundLink.
 
Until this point in time, Celsius Network has offered help to in excess of 101,000 clients around the world, with all out resources of more than US$730 million. Furthermore, the stage encouraged almost USD 5.5 billion in advance start (around USD 8.2 billion at the present BTC cost). The organization has paid $12 million in interest.
 
You should note that Celsius Network is a custodial wallet stage. In this way, the organization saves control of the keys for every one of your digital currency wallets. While this reality shouldn’t be a major issue for many people, it is crucial to know.

Can You Make Money With The Celsius Wallet?

Celsius Network offers you the chance to acquire easy revenue on your digital currency property, however, there are a couple of pieces of data about which you ought to know.
 
The main way to make money using Celsius Network is to collect interest on the shares held (Passive income). To participate, you only need to deposit cryptocurrency into Celsius wallet. After doing this, you will earn interest from your wallet every Monday.

You can choose to receive these payments in a similar way or in CEL (Celsius’ native token).
In addition to traditional cryptocurrency interests, Celsius Network also provides opportunities to earn interest in Gold.
 
However, the Celsius temperature is not XAUT, but ERC-20 tokens with gold support instead of actual gold.
 
The annual interest rate changes every week, and it also varies from coin to coin. However, they seem to be generally in the range of 3.00% to 11.00%. In addition, choosing to collect interest by CEL will bring you a higher return. It should be noted that “EEL in CEL” is currently not applicable to US users.
 
An important warning: Currently, Celsius Network does not provide any insurance on your deposits. So if the company falls victim to a hack, for instance, there is a possibility that you will lose your funds.
 

Which Cryptocurrencies Are Available On The Platform?

Celsius Network pays out interest to a wide variety of cryptocurrencies. The options include (but aren’t limited to):

  • Celsius Token (CEL)
  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Bitcoin Cash (BCH)
  • EOS (EOS)
  • Stablecoins
  • And many more to follow

You can also purchase BTC, ETH, XRP, BCH, LTC, USDT, and XLM directly in the app.

How Is Customer Support?

In the end, the decision and responsibility for the correct use of the Celsius network rests with you, and you alone. Compared with other cryptocurrency lending platforms, Celsius provides depositors and borrowers with the best interest rates in the industry.

As long as the principal amount is safe, any cryptocurrency holder will benefit from high-interest rates. For any investor, it is very attractive to earn more than 11% on stable currency deposits, especially in uncertain times. Celsius represents the leader in the portfolio of interest-bearing cryptocurrency accounts and lending platforms, and this category is the same as other legitimate participants (such as BlockFi).

Although Celsius technically owns your Crypto key and does not have the privileges of a traditional bank assurance legal deposit account, you can safely believe that with the company’s founder’s unassailable reputation so far, your cryptocurrency should be safe.

If you want to relax around your funds and separate your funds from the traditional financial system, Celsius Network is a perfect starting point

Ratings For Celsius Wallet

If you want to relax around your funds and separate your funds from the traditional financial system, Celsius Network is a perfect starting point for you.

 

Disclosure: This page contains affiliate links. If you click through and purchase an item, we may earn a commission.
See our terms of service for details.

 

We give Celsius Network 4 out of 5 stars.

4/5

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