Celsus Network review

In recent years, there’s been a rise in companies that let you lend and borrow cryptocurrencies. If you’re looking to invest in crypto without using the typical “buy and hold” strategy, this is excellent news.

Celsius is one of the leading companies in this space. With Celsius, you can earn up to 17.78% APY on your crypto, borrow cryptocurrencies or regular USD, and quickly send and receive various cryptos from other people.

If you want to earn passive income with your crypto or leverage it to borrow other cryptos or cash, Celsius could be the right company for you.

Celsius Logo

Quick Summary

  • Earn weekly interest on your cryptocurrency
  • Leverage your crypto to borrow other coins or USD
  • No minimum account requirements or fees

Celsius Network Details

Product Name

Celsius Network

Product Type

Crypto Savings and Borrowing Platform

Minimum Deposit


Interest Rates

Up to 17.78% APY


$50 Free Bitcoin

Pros And Cons


  • Earn up to 17% APY on your crypto
  • No minimum balance requirements
  • No fees
  • Low interest rates for borrowers
  • Free $50 Bitcoin bonus
  • Earn extra rewards with CEL tokens


  • U.S. investors can’t use CEL tokens or get the highest APY
  • Web app isn’t very robust

What Is Celsius?

Celsius is a cryptocurrency lending platform that began in 2017 and was founded by Alex Mashinsky and Daniel Leon. Despite being in its infancy, the originally London-based company has grown rapidly. By December of 2018, Celsius exceeded $50 million in community assets. Currently, there’s nearly 1 million Celsius users and $20.2 billion in community assets.

In true crypto fashion, Celsius’ goal is to disrupt the financial industry and let its users achieve financial independence with crypto. With high interest rates for holders, low platform fees, and nearly $450 million paid to users over the last 12 months, Celsius is certainly working towards that goal.

What Does It Offer?

At its core, Celsius provides a way to earn rewards for holding cryptocurrency and to borrow other cryptocurrencies or USD at low rates. These offerings fall under three main features.

Earn Interest

Celsius lets you earn weekly interest if you hold and lend out various cryptocurrencies and stablecoins on the platform. This includes leading cryptocurrencies like Bitcoin, Ethereum, Uniswap, and XRP. You can earn up to 17.78% APY if you live outside the U.S. and up to 13.99% APY if you’re a U.S. resident.

Celsius Earning

There isn’t a minimum deposit requirement. You don’t pay low-balance fees or transfer fees either.

How much interest you earn depends on the type of crypto you have and how much of it you have. For example, you currently earn 6.20% APY on your first Bitcoin and 3.51% on additional Bitcoin above that threshold when you deposit it with Celsius.

If you want to maximize your rewards, you can also get paid with CEL, Celsius’ crypto token, instead of the crypto you’re holding. You can earn up to 25% more weekly rewards for choosing CEL.

Extra APY you earn depends on how much CEL you hold, with loyalty tiers including:

CEL Reward Status

CEL Token Holdings

Bonus Rewards













You also earn 4.86% APY for holding CEL, so there’s two advantages to getting paid with CEL over your cryptocurrency of choice. However, the CEL token isn’t available for U.S. investors. So if you live in the United States, you have to stick with base Celsius rates and other cryptocurrencies.

Even so, Celsius rates are significantly higher than the average national interest rate for savings accounts, which is only 0.06% according to the FDIC. Rates are subject to change and change regularly however, so keep this in mind.

Borrow At Low Rates

Celsius lets you borrow a variety of stablecoins or USD by using your own cryptocurrency as collateral. This means you can leverage assets like Bitcoin and Ethereum to cover expenses instead of selling your crypto or taking out a bank loan.

Celsius Borrowing

Celsius supports over 40 digital assets (cryptocurrencies, stablecoins, and a Gold token) as collateral. Your LTV choices are 25%, 33%, and 50%. The lower your LTV, the lower the interest rate that Celsius will offer you.

Most users can get as low as a 1% interest rate with a 25% LTV or as low as a 0.75% interest rate if you pay off your loan with CEL tokens. However, residents of the state of California are currently being offered 0% APR crypto-backed loans.

Loans with a 25% LTV demonstrate how cost-effective Celsius can be for borrowers. But this requires having more cryptocurrency to leverage. Rates are also subject to change.

But if you need quick cash for an emergency, Celsius is useful. There isn’t a credit check and loan approvals are instant. Plus, you don’t pay origination fees.

The minimum loan term is six months. You can close your loan anytime if you’re up-to-date on your interest payments. But closing a loan before six months still requires a six-month interest payment.

Note that you don’t earn interest on the crypto you use for collateral, which is a slight downside to borrowing with Celsius.

Send And Receive Crypto

With CelPay, you can send and receive cryptocurrencies right from Celsius’ mobile app. CelPay supports over 40 cryptocurrencies and stablecoins.

You also earn $50 in free Bitcoin when you transfer $400 or more in crypto to your Celsius account and hold it for at least 30 days.

Are There Any Fees?

Celsius itself doesn’t charge any fees. You won’t pay for transactions, transfers, or withdrawals. There aren’t origination fees on loans either, which is a rarity in the world of crypto loans.

However, some Celsius partners charge fees. For example, Celsius works with partners like Wyre to let you buy cryptocurrencies, and Wyre charges a 0.10% fee. But for the core Celsius features, the platform is fee-free.

How Does Celsius Compare?

Celsius isn’t the only player in the crypto lending space. Out of all its competitors, many investors are likely choosing between Celsius and BlockFi which is another popular option to earn interest on your crypto.

For earning interest, Celsius generally outperforms BlockFi. Here’s how various Celsius rates stack up against BlockFi rates:

Celsius Vs. BlockFi Rates


Celsius Rate

BlockFi Rate























BlockFi also charges a 2% origination fee on loans which is a massive difference from fee-free Celsius. Loan rates are also as low as 4.5% on BlockFi while you can secure rates as low as 0.75% with Celsius.

The main attraction of BlockFi is its BlockFi Rewards Visa Signature card that lets you earn unlimited 1.5% cash back in Bitcoin on every purchase. This card doesn’t have an annual fee and comes with a 90-day, 3.5% cash-back promotional rate. However, Celsius has a rewards credit card in the works, so this advantage might wane.

Ultimately, Celsius has some of the highest interest rates in the world of crypto lending. Plus, rewarding CEL token holders is a unique selling point.

How Do I Open An Account?

You create a Celsius account by visiting its website and downloading the mobile app for Android or iOS. After you've downloaded the app, you can sign up with Facebook, Google, Twitter, or your email. Celsius also has a web app but you need an existing account to use it.

Currently, new users earn $50 in free Bitcoin for depositing at least $400 worth of crypto and holding for a minimum of 30 days. If you want to earn passive income with your crypto, it’s the perfect time to try Celsius.

Is Celsius Safe?

For starters, Celsius isn’t FDIC-insured, and the company is jostling with regulatory concerns. In June of 2021, Celsius shut down its UK operations and is gradually migrating to the United States.

Since the future of cryptocurrency regulation is still uncertain, this poses a risk. However, this is the same risk that other cryptocurrencies exchanges and lending platforms face in the days ahead.

In terms of loan security, Celsius requires borrowers to put up more collateral than they borrow, but there’s still risk of loan defaults. As for the platform itself, you can secure your account with several extra measures alongside your password:

  • 2-Factor Authentication
  • Biometric security
  • Photo and video verification for sensitive account actions
  • HODL mode, which temporarily disables outgoing transactions from your account
  • Inability to withdraw over $150,000 in assets without manual verification by Celsius’ team

Overall, depositing cryptocurrencies with Celsius carries some risk. This is why many crypto investors interested in earning interest use several companies, like BlockFi and Nexo.io, to diversify their income in case one company were to go under.

Is Celsius Worth It?

Celsius has some of the best interest rates in the industry, especially if you get paid with CEL tokens. This makes Celsius worth it if you want to maximize your passive crypto income. Instant loan approvals and low interest rates for borrowers are also selling points.

The bottom line is you should weigh the risks of cryptocurrency lending before using Celsius. If crypto is a diversification play for your portfolio, it could be worth it. In contrast, if you’re new to investing or are still building your emergency fund, hold off on using Celsius.

Finally, if you don’t own any crypto, you can use a beginner-friendly cryptocurrency exchange like Coinbase to buy over 90 cryptocurrencies and learn the basics of owning crypto. From there, you can always transfer your Coinbase funds to Celsius if you want to start earning interest.

Celsius Network Features

Product Type

Crypto savings and borrowing platform

Min Deposit


Min Balance Requirement


Interest Rate On Crypto Deposits

U.S. Residents: Up to 13.99% APY
Non-U.S. Residents: Up to 17.78% APY

Loyalty Tier Reward Bonus

Bronze: 5%
Silver: 10%
Gold: 15%
Platinum: 25%

Interest Rate On Loans

California residents: As low as 0%

All other U.S. borrowers: As low as 0.75%

Min Loan Term

6 months

Credit Check Required On Loans


Maintenance Fees


Deposit or Withdrawal Fees


Supported Payment Types

Debit Card
Credit Card
Bank Transfer

Supported Coins



Fireblocks provides insurance on digital assets, but insurance is voided when Celsius lends out assets.

Borrowers post collateral of up to 150% to reduce risk, but there is still no guaranteed protection when you use Celsius.


Aside from your password, account security enhancements include:

- 2-Factor Authentication
- Biometric security
- HODL mode to suspend withdrawals
- Photo and video verification
- Manual approval process for withdrawals of $150,000 or more in assets

Mobile App Availability

Android and iOS

Desktop Availability


Customer Support Options

Contact form and a helpdesk FAQ


Earn $50 in free Bitcoin For signing up

Tagged with:

Comments are closed.

Set your Twitter account name in your settings to use the TwitterBar Section.