By allowing users to become lenders via its platform, Celsius gives people reliable returns that can be as high as 20 percent. The easiest way to think of Celsius is as a type of bank for cryptocurrencies where users get rewarded for depositing their capital, which is packaged as loans to borrowers. Users can also borrow from the platform using a proportion of the crypto they hold as collateral. It’s also possible to stake on Celsius, though this has some risks.
As finance disruptors continue to gain a firmer foothold, people are starting to realise they can get their money to work harder for them. And with inflationary pressures growing, platforms such as Celsius–which already has more than a million users–are likely to grow in popularity, increasing demand for its Celsius’ native cryptocurrency, CEL.
If you’d like to get more CEL because you think it’s a project with promise, this page will guide you through the process of buying Celsius and also provide other vital information to help you make your decision.
Fill all the requested information using your personal data accurately. Check your inbox for a confirmation email and log in with your selected email and password.
Choose your favourite payment method and follow the steps to make your first deposit. The minimum deposit amount might change depending on your location.
Search for Celsius on the list of available cryptocurrencies. Use a "Buy Order", choose the amount of CEL to buy, set up other trade details and confirm the order.
Here are some exchanges and brokerages that we recommend for buying Celsius and other cryptocurrencies. Before picking your first trading platform to sign up to, it’s always best to do some research about each of the trading platforms that we recommend before making your final choice.
You can use a variety of various payment methods to top up your exchange or brokerage account. Some exchanges and brokerages accept payment methods that aren’t available on other platforms. Here’s a quick summary of the most popular payment methods used on online trading platforms.
Buying assets is best done during downtrends in the market or during “dips” when you’ll be able to get a more reliable entry point than buying in a rally.
Trading involves buying and selling assets frequently, or using financial derivates, often with leverage, to generate a profit. Trading tends to be fast-paced to keep up with the changing markets. Buying and holding onto an asset is considered less risky than trading. That said, experienced traders can make substantial profits buying lows and selling highs in shorter time frames.
Perhaps the safest way to invest in any market is to dollar cost average, which means buying small amounts of CEL at regular intervals over weeks, months and even years. This strategy smooths natural volatility and is something that most seasoned traders do.
Before investing in any project, you should understand what that project aims to achieve.
Celsius is a cryptocurrency lending platform that is regulated and SEC complaint. Users who deposit funds can get suitable yields on their holdings, more interest than any bank could offer on fiat currency. All deposits are fee-less, unlike other DeFi lending platforms that require users to pay for Ethereum gas fees to interact with the platform.
After delegating funds into the lending platform, users can borrow fiat against their cryptocurrency holdings. The Celsius network tries to maintain generous yields to keep users coming to the platform. Celsius’s CEL token can be staked to gain rewards, used to secure a discount on loan repayments, or deposited in the lending platform for greater yield benefits.
There are no guarantees that buying CEL will make you money. The main thing to consider when buying cryptocurrency is the ecosystem underpinning it. As Celsius has plenty of utility, plus high adoption with a strong community, the likelihood of price appreciation is higher than with, say, a meme coin.
In addition, Celsius has a bold road map with an experienced team to help execute it. The Celsius credit card launch will also give the company further momentum. The card promises users they will earn when they use it and earn when they don’t. This real-world utility for people who hold crypto rather than fiat currencies in their accounts is relatively new to the world of crypto, and Celsius is one of just a few first movers in the space.
The coin also has little direct competition. There are other lending platforms such as AAVE, Compound and MakerDAO, but these are pure DeFi and lack regulatory status. This means, if something goes wrong, there’s nobody to call for help. Celsius, being a sort of DeFi-CeFi hybrid, however, can provide many of the fiscal benefits of DeFi while also delivering a high level of customer support. The closest comparable to Celsius within the market is Nexo.
Below is a list of pros and cons to help you decide whether or not Celsius (CEL) is the right coin for you.