Founded year: 2018
Credited votes: 130 of 189
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.
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Celsius is the best!

Score
5
approved
Celsius has no fees! Up to 80% back to the community. Sometimes more! California can takes loans now at 0%! They are the most transparent and customer centric company. I trust them wholeheartedly. Customer service is great too.
22.08.2021 00:07
0

Celsius is the future of CeFi

Score
5
approved
1% loans, amazing community. Everything I believe crypto is about. Do good then do well. I've learnt so much and gained so much insight and knowledge about crypto and building financial wealth and security. DCA and HODLing and taking loans against my crypto is building my wealth for myself and my kids futures. Alex Mashinsky is my hero.
09.06.2021 05:19
0

Works in my best interest

Score
5
unapproved
The structure of this company is amazing: to the extent it was planned it shows incredible vision, and to the extent they got lucky they seem poised to benefit from their luck—and their luck is my luck, as Celsius serves its depositors’ best interests—which includes me!
08.06.2021 02:02
0

Good

Score
5
unapproved
Is good is awesome is marvellous is best dont doubt and just use it its really good i promise i recommend it one hundred percentttt i promise its really good you must down it now i dont lie to you
07.06.2021 16:25
0

The best in all cryptoverse!

Score
5
unapproved
Simply the best! Better than all the rest! I only wish i found them sooner. My weekly interest get bigger every week so fast i truly see financial freedom in grasp in less than a year from now.
07.06.2021 15:37
0

Best CeFi Passive Income App in the world

Score
5
approved
Strong team & great vision!  They give 80 % of profits back to users & they even pay for all fees on the platform!  Absolutely incredible.  They even engage the community in weekly AMA sessions and clubhouse podcasts.  Their loan response team is also extremely prompt and helpful. 
07.06.2021 15:30
0

BEST OF THE BEST!

Score
5
unapproved
Trusted and reliable services, just that the customer service need to be improved! Celsius is the best in class for crypto yield farming, and Alex is definitely KILLIN IT!
07.06.2021 15:26
0

Constant and healthy returns

Score
5
approved
Every Monday got better as soon as I started using Celsius. The CEL token has a true utility and fosters a healthy ecosystem. Team replies quickly to questions and is very open in its weekly AMA. I can only recommend getting some passive income with Celsius.
07.06.2021 12:32
0

Celsius puts people before profits

Score
5
approved
Celsius is undoubtedly the best interest-earning and lending platform not just in crypto but in the entire financial industry! Celsius is on a mission to disrupt traditional banking by giving back 80% of what they earn to depositors and charging zero fees. Why? Because they put people before profits. No one else even comes close. Highly recommended
07.06.2021 11:38
0

amazing platform

Score
5
unapproved
high yield high transarancy strong token strong community no hacks great app good security
07.06.2021 08:49
0
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