Friday, March 29, 2024

Celsius

by Hideo Nakamura
Celsius

Celsius (Symbol: CEL) is a decentralized blockchain-based financial services platform. The project aims to provide users with the ability to earn, borrow and save digital assets using cryptocurrency tokens as collateral. Celsius was founded in 2017 by Alex Mashinsky, an entrepreneur and venture capitalist who has been involved in creating several successful startups.

The service allows users to deposit their cryptocurrencies into what they call “Celsius Wallets” which can then be used for lending or borrowing against other crypto assets within the network. Users are able to access these funds at any time without having to rely on third parties such as banks or brokers since all transactions are executed directly through smart contracts on the Ethereum blockchain network. This process eliminates counterparty risk while providing greater transparency of transaction data compared traditional banking systems.

In addition, Celsius also offers its members rewards when depositing certain coins into their wallets that can range from up 5% – 10%. Rewards vary based upon supply availability but some currently supported coins include Bitcoin (BTC), Litecoin (LTC), Etherium(ETH). In order for someone qualify for rewards a user must have maintained a minimum balance of $1000 USD worth of cryptocurrency in his/her wallet over 30 days prior period before claiming it . Furthermore ,if you use your Celsius Wallet card you will receive cashback similar benefits like those associated with most credit cards . All purchases made with this debit card will be automatically converted back into dollars so that there is no need worry about currency exchange fees when travelling abroad . These features make Celsius an attractive option both individuals seeking additional passive income streams well businesses looking expand customer base globally via increased international payment options .

Finally ,the team behind Celcius consists highly qualified professionals specializing tech industry including software development, finance economics marketing operations making them one foremost leaders field digital asset management sector today

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