Celsius holds a good market position in the race for the best cryptocurrency exchange. Its unique features and trading services attract millions of online investors. They can trade coins, have crypto lending, and have the best trading platform.
To help users know the exchange better, we have a brief analysis of Celsius Network. It will guide traders to understand the exchange details that can make investment more fun and smooth.
So, let’s analyse the Celsius network cryptocurrency exchange.
What is Celsius Network?
Celsius is a crypto exchange headquartered in London. The exchange uses a blockchain-based crypto lending platform to provide efficient trading services. It was founded in 2017 to provide access to the crypto world.
Celsius’s first coin (CEL) came in 2018 and is available on the platform to trade. Besides, the company has a market capital of $283.16 million. It also has a high trading volume of $16.56 million in 24 hours.
It is a leader in crypto-lending services and is best known for its Bitcoin loans.
Services of Celsius Network
Celsius is a decentralised crypto platform with various facilities. The crypto lending platform has the best offering for its clients to make trading more convenient. Below are the services of the exchange that support clients with the best market opportunities:
Borrowing
Traders with Celsius can borrow funds in cash or CEL tokens. It allows traders to keep their cryptos as collateral and have the cash to trade. There are more than 40 coins that investors can have to borrow funds.
Besides, it lends collateral to institutional investors. Thus, traders can have an interest in them. Also, the loan approvals on the Celsius platform are instant. Therefore, traders need not go through any credit checks.
Further, it does not require any origination fees.
Rewards
Celsius allows traders to have rewards on their cryptos. They can have 18.63% APY by keeping their digital assets as deposits. In addition, traders can enjoy good profits through interest on 25+ cryptos, 10+ stablecoins, and one Gold token (PAXG).
In addition, there are no minimum fees to earn from the crypto deposits. It makes the payouts on a weekly basis every Monday. Therefore, interest in cryptos is a great opportunity for traders to earn.
DeFi Services
As we know, Celsius is an interest-bearing and crypto lending trading platform. The exchange makes it easy for traders to access it using desktop or mobile apps. In addition, de-Fi provides person-to-person services to clients.
So, traders can lend, borrow, and invest to earn interest and profits. The approach of the exchange minimises the requirement of a gatekeeper.
The members of Celsius get instant access to loans at discounted rates.
CEL Native Token
Celsius exchange has its native token, CEL. It is the loyalty and reward token that traders can access on the lending platform. The token also functions as the method of exchange across the network.
However, the tokens are not available for US residents.
How does the exchange operate?
The Celsius network uses peer-to-peer lending, which facilitates the borrowing and lending of cryptos. Traders can quickly access the fiat funds by keeping the cryptos as collateral. Also, it charges minimal interest on it.
The platform is easy-to-use with a beginner-friendly design. Users can understand the working on its website, www.celsius.com, and open their account to invest.
Traders can even invest in several coins and use the trading facilities and order types to minimise the market risks—an excellent choice for crypto traders.
Pros and Cons
Users can have benefits from the exchange, but they also have to know their drawbacks. The knowledge will guide them in making the best use of the lending platform.
The pros and cons of the exchange to make a quick overview:
Pros:
- Rewards up to 15% APY paid weekly
- Easy-to-use trading platform
- Availability in 100 countries
- Interest earning
- Crypto-loans
- Loyalty programs
- Instant and free payment using CelPay
Cons:
- Less educational resources
- Only cryptocurrencies to trade
Conclusion
Celsius network is an advanced crypto lending platform. There are several services that support clients in earning interest on their crypto holdings. In addition, users can open their accounts and trade in cryptos to make successful investments.
Users can use the exchange best with borrowing, interest, lending, and investment services.
