Celsius Network lets you buy coins, earn interest on your crypto, and instantly borrow dollars with no deposit, withdrawal, or transaction fees. For lenders, Celsius offer profits on interest rates for the crypto that’s been deposited. Allowing you to lend your assets to others whilst gaining interest on the loan. With Celsius, not only can you lend your coins to earn interest, but you can also borrow cash against them, without the need to sell your tokens if you wanted to free up some cash. Because your loan is secured with your coins which are being used as collateral, Celsius can offer really competitive interest rates. Plus your crypto coins are then yours to keep after you’ve repaid the loan.
Celsius also have their own CEL token which gives Celsius members access to the best financial services for cryptocurrencies. Not only do you get better interest rates when choosing CEL as your receiving currency, but you also gain access to a different array of member-exclusive advantages.
Now one thing to mention is that the Celsius Network is centralized. Therefore the wallet is centralized, meaning you do not own the private keys to your wallet and less control over your funds. But Celsius Network works with BitGo to secure your assets and provides up to $100 million in insurance for these assets.