Founded year: 2018
Credited votes: 155 of 220
Problems resolved: 0
Owners responses: 0
Celsius (CEL) is an all-in-one banking and financial services platform for cryptocurrency users.

Launched in June 2018, it offers rewards for depositing cryptocurrency, along with services such as loans and wallet-style payments.

Users of the platform receive regular payouts and interest on their holdings. Celsius’ native token, CEL, performs a variety of internal functions, including boosting user payouts if used as the payment currency.

Celsius originally came into being as the product of creators Alex Mashinsky and Daniel Leon in 2017.

Mashinsky has a long-running history in the internet development sphere, having worked on the Voice Over Internet Protocol (VOIP) in the 1990s and other technologies since. Celsius is far from Mashinsky’s first corporate venture, with seven startups and 35 patents to his name, the project’s official website states.

Co-founder and COO Daniel Leon meanwhile has experience focusing on growing early-stage startups. His previous roles include being CEO of Atlis Labs, a social recommendation and discovery app which used real-time user referrals.

Celsius now has a large team of core employees, technical developers and advisors with experience in various spheres.

Celsius aims to outperform banks at their own game by offering financial services on the kind of terms which traditional financial institutions no longer offer.

These include much higher rates of returns on savings and deposits, much easier and fairer loan requirements and automated rewards computed for each user algorithmically. Penalties and bank-style fees are also waived.

The platform also functions as a wallet via its CelPay feature, and hosts its own CEL token which users can leverage to increase payout value among other things.

As a for-profit company, Celsius takes a cut of profit margins on interest payments, still returning 80% to users themselves. The company also lends to institutional entities such as hedge funds.

Payments are ensured because loans are asset-backed, and any borrower must supply more than 100% of what they borrow in the destination currency.

The native token of Celsius is CEL. It performs a number of user-related functions and is freely tradable outside the platform.

CEL has a maximum supply of 695,658,161 tokens, of which 76% are in circulation and 24% are locked according to a schedule laid out in the project’s technical literature.

CEL had an initial coin offering (ICO) in May 2018. The presale and crowdsale took 50% of the token supply, with 27% going to the treasury, 19% to the team and 2% to partners and advertisers respectively.

CEL is an ERC-20 standard token on Ethereum.

Celsius uses a modified proof-of-stake algorithm for its token, while broader security procedures were outlined in a dedicated presentation in June 2020, still available on the company’s website.

As with any client-orientated wallet, the risk of theft from attacks such as SIM-swapping is present if users themselves do not have adequate protections in place such as two-factor authentication.
See more
Your company? Send an enquiry and respond to customer feedback

0 FEES AND TRANSPARENCY

Score
5
approved
I've been using the Celsius app for over a year and I've never found this kind of transparency and loyalty to the community. Every single step is made for the community and to make us end up with more coins. If you add their great customer service and respect for laws, you know that all the other platforms can't compare.
08.05.2022 10:47
0

The best crypto lending platform in the market.

Score
5
approved
The best crypto lending platform in the market. Transparency, security, trust, sustainability... Great SWAP as well. Credit Card coming soon. Use my referral to register and get 50$ in BTC https://celsiusnetwork.app.link/185985adc4
08.05.2022 10:45
0

Best Cefi

Score
5
approved
The best, safest and most transparent crypto company out there! You get great interest rates for holding your crypto in their wallet. You can also get very cheap loans there by using your crypto as collateral. Their team is awesome. I can really recommend this!
08.05.2022 10:37
0

Get Weekly rewards !

Score
5
unapproved
Unbank yourself with Celsius ! You will earn weekly rewards by just hodling your cryptos on the platform !
08.05.2022 10:37
0

Solid leadership, transparent

Score
5
unapproved
Solid leadership, transparent and act on the depositors best interest. More than that we cannot ask
08.05.2022 10:28
0

Why Celsius is way better than Nexo

Score
5
approved
So you will never ever have to pay a fee with Celsius. The reward rate compared to Nexo is lower. But if you do the math you’ll now that Nexo charges fees for nearly everything withdrawals, swaps. So at the end you’ll be better of with Celsius. The community is amazing and transparent and sustainable. It’s verified on the blockchain. With Nexo I can only guess where my money is and they pay you with treasury. Celsius is innovating with Celsius X, credit card, super app with DeFi and CeFi combined. If there is one institution I trust the most with my tokens it’s Celsius!
08.05.2022 10:19
0

No fees!

Score
4
unapproved
I like Celsius as they absorbs all the fees when swapping and also free withdrawal monthly!
08.05.2022 09:35
0

Celsius is the best CeFi platform for me

Score
5
approved
The products and services offered by Celsius Network caters to individuals who wants to gain financial freedom from banks. Offering double digit yields for your crypto holdings.. By depositing in their platform,you get weekly interest depending on your holding...
08.05.2022 09:15
0

Stable performance

Score
5
approved
Celsius has seen Stable performance over the years, no sudden cuts of yield and still fee free. Noteworthy is the constant building and the fact that they take care of all the important regulatories.
08.05.2022 09:11
0

Best in class AND sustainable

Score
5
approved
What these guys are doing is amazing, sustainable yield, live customer support, no fees. I wouldn't trust a single dollar with their competition, all shady and non transparent. Celsius is the future of mixed CeFi & Defi.
08.05.2022 09:00
0
Show more reviews