Welcome to my Celsius Network review.
In this article, I am going to cover what Celsius Network is, some pros and cons about the program, what types of investment offerings they offer, and my overall recommendation.
There are a few reviews online that I saw discussing this program, but I wanted to see for myself if it is really worth the praise that people are giving it.
With that said, let’s dig in and see what it is all about.
What Is Celsius Network
Celsius Network is an investment platform that people can pay, buy, and borrow in various amount of cryptocurrencies to earn a passive weekly return.
It’s not without risks of course.
I wouldn’t compare Celsius Network to a trading account, I would classify it more as an in-between of a savings and an investment portfolio.
However, the type of program that Celsius Network is defined as is an investment portfolio.
The main aspects that many of the investors of Celsius Network praise is:
- Up to $100 Million of deposits are insured.
- There are no withdrawal limits that the program puts in place.
- There are no fees associated with withdrawals.
- No freeze periods that the company puts in place.
- The ability to withdraw your investment anytime you desire.
Essentially, Celsius Network is a low-risk investment platform that is the perfect solution for beginners along with the more experienced investors who are looking to earn a solid and reliable ROI.
Additionally, this is also the perfect platform, in my opinion, for HODLers.
Celsius started in the summer of 2017 and has been growing very strong over the years.
As of now at the beginning of 2021, Celsius has crossed over $10 billion in community assets!
What Does Celsius Network Offer?
Celsius Network offers a wide variety of cryptocurrencies to invest, hold and borrow.
Along with the investment opportunity, the company offers a very useful mobile app so you can keep track of your investments.
The investment strategy is very similar to a saving account where you will earn a passive ROI from the efforts of the company itself.
You can even invest stable coins like USDC which will earn an ROI through Celsius Network.
One of the main aspects as to why many investors are attracted to the program is the fact that they don’t have any withdrawal fees which to me is a major plus.
Basically, you can earn rewards for holding your assets, you can borrow cash while keeping your assets, and also pay and transfer your assets.
Here is a comparison chart that compares other platforms against Celsius:
Another great review: EtherConnect Review – Huge Scam or Legit Money-Maker?
What Are Some Of The Things That I Like About Celsius Network
In this section of my Celsius Network review, I am going to quickly cover some of the main benefits that I liked about the platform.
- Perfect for beginners
- Reward up to 15% APY which is paid out weekly
- Instant and free payments
- The user-friendly and well-designed mobile app
- The platform is available in over 100 countries
- The platform also offers a loyalty program
- The platform has over 30 available cryptocurrencies
What Are The Things That I Disliked About It?
In this section of my Celsius Network review, I am going to discuss some of the things that I disliked about the platform.
- The platform doesn’t really offer great onboarding education
- Not really a negative, but the platform is limited to only cryptocurrencies
As you can see, there are not many negatives that I found with this investment platform.
Another great review: BitcoLoan Review – Free Crypto Or Total Scam?
Celsius Network Rewards Program
In this section of my Celsius Network review, I am going to cover how the rewards program works.
The Celsius Network also offers a great rewards program that is multi-tiered.
This means that when you refer your friends and family, you can earn bonus percentages on your earning and also a lower interest rate on your loans!
The first aspect of the rewards formula will be directly related to how much of your total portfolio is in CEL tokens.
CEL tokens is the cryptocurrency coin that Celsius Network owns.
The platform offers a 4-level system and here is how it works:
- Bronze Level – You reach this level when “less than” 5% of your portfolio is in CEL tokens.
- Silver Level – You reach this level when 5%-10% of your portfolio is in CEL tokens.
- Gold Level – You reach this level when 10%-15% of your portfolio is in CEL tokens.
- Platinum Level – You reach this level when 15% or more of your portfolio is in CEL tokens.
Now that you understand how to reach those levels, here are the rewards that the company offers of your earnings, and on your interest loan rates:
- Bronze Level – This level offers no bonuses, you will have to reach the next level to earn reward bonuses and discounts.
- Silver Level – When you reach this level, you will earn a 10% bonus on your earnings and a 10% discount on your loan interest rates.
- Gold Level – When you reach this level, you will earn a 20% bonus on your earnings and a 10% discount on your loan interest rates.
- Platinum Level – When you reach this level, you will earn a 35% bonus on your earnings and a 30% discount on your loan interest rates.
Additionally, Celsius Network offers a cashback bonus.
This happens when you send CEL tokens using the CelPay option in the mobile app.
You are able to send any cryptocurrency that the platform offers, but when you send CEL tokens using the CelPay option in the mobile app is when you earn a cashback bonus.
Overall, many great aspects to the rewards program in my opinion.
With that covered, let’s move on to the next section where I will answer some questions you might have if you are thinking of joining.
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My Celsius Network FAQ Section
In this section of my Celsius Network review, I am going to cover some of the questions that you might have when thinking about joining the platform.
What Coin Offerings Does Celsius Network Offers?
At the moment, here is a list of the coins that the platform offers. They offer DAI, USDC, Ethereum, Binance USD, Gemini Dollar,Bitcoin SV, Stellar Lumens, Tether, Bitcoin, Paxos Standard, and Bitcoin Cash, along with a few others.
Does Celsius Network Offer Customer Support
Yes, they do. All you will have to do is go to main company page at celsius.network and find the support link in the navigation area. There you can contact the company for questions or help.
How Do You Get Started?
The easiest answer is to click on the link below or above. This will take you to the Celsius Network website where you will be directed to download the app. Once you have the app installed, you can create your free account. In your account, you will have an onboarding process that will be different for every country since various countries has different laws surrounding cryptocurrency. Depending on what country you signed up with, the system will take you through the proper steps and procedures according to your country. Once in, the app will help you purchase some assets.
Can I send Crypto Outside Of The Celsius Network?
Yes, absolutely, let’s say that you want to send a cryptocurrency payment or an amount to a friend, all you would do is use the CelPay feature.
So, either if the person or company that you want to send funds to, does not have the Celsius Network app, you have the option to send it to them using the CelPay feature.
What Is The Cost To Join Celsius Network?
This is the great thing about the Celsius Network.
The platform doesn’t have any minimum amount to start that you are limited to.
However, the platform does have limits to the amount that you can purchase at any given time.
For example, the company uses a service called Wyre that you can use to purchase some assets with Celsius Network.
The limit to use them is a $5,000 maximum per week.
If you are going to use a CC, then you have a limit of purchasing $1,000 Euros worth of assets daily.
The mobile app allows you to buy cryptocurrency coins using SEPA transfer, ACH transfer, and debit/credit card purchases which is really helpful.
The main thing is that there are no minimum deposits.
Is Celsius Network A Scam?
There is no way that Celsius Network is a scam.
They have all the legal procedures down when it comes to new investors coming on board with them.
Each country has a different set of laws pertaining to cryptocurrency and the sing-up procedure will reflect your specific country according to the law in your country.
No, Celsius Network is not a scam.
With the question and answer section of my review covered, let’s finish up.
My Final Celsius Network Review And Final Thoughts
In the last section of my Celsius Network review, I am going to share my final thoughts and recommendation about this platform.
Wow, this has been a fun and eye opening review for me.
I knew that platforms like Celsius Network existed but never knew how legit they were until I dug deeper into the details about their business model.
What a great platform for investors!
I would give this a great rating if I were to rate it right now.
The only negative that I see with the platform is the customer service.
I would give it a 7 out of 10. But the slower support response is directly related to the pandemic, so I can’t fault them on this issue.
However, the main point is that their support DOES get back to you, just not right away at the moment.
If you have any personal thoughts or questions about the platform, please leave them below.
But here is the question…
Would I Recommend Celisus Network?
You have a great overview about what Celsius Network is and what it offers to make a decision on whether it is right for you.
If you were to ask me, I would have to say, I HIGHLY recommend the Celsius Network after reviewing all of the information about the platform.
With that said, I hope you enjoyed my Celsius Network review.
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