How to increase your revenue with Celsius Network

We had previously mentioned the potential of Bitcoin. But when we dig deeper, we can easily see that the advent of Bitcoin is also leading to a whole series of other projects, notably DeFi (Decentralized Finance) projects of which Celsius Network is a part.

In this article, we will carry out an analysis of the Celsius Network platform which allows us to generate passive income thanks to its Bitcoin and other cryptocurrencies. So, is the Celsius Network platform worth it or not? Please read this article to find out.

What is Celsius Network?

Celsius Network is an application whose idea is an integral part of the DeFi revolution. Their goal is to shake up the financial industry by offering cost-free, cryptocurrency-related banking services.

The company was created in 2017 and aims to assist individuals in the management of their cryptocurrencies. Allowing them access to services formerly limited to banks but this time at no cost. In particular loans to individuals but especially via the interest on your cryptocurrencies. All in an application with very well thought-out ergonomics and design.

The platform covers a whole series of cryptocurrencies, including the most common (Bitcoin, Ethereum, Litecoin, …) but also a whole series of others which will become very interesting when we see that we can earn interest on these different cryptocurrencies.

Borrow money with your cryptocurrencies on Celsius Network

The main objective of the platform is to allow any individual to borrow money using their cryptocurrencies. All at no cost and at fairly attractive rates. For this, Celsius Network, like the banks, will ask for a guarantee in order to give you a loan of money. The advantage here is that this guarantee can be given with your cryptocurrencies.

Another advantage of the platform is that the loan application takes only a few minutes and can be fully managed in the application. As the collateral is made up of cryptocurrencies, there is no need for an analyst to validate your file. This is an algorithm that automatically determines the admissibility of the request. Since all of this is automatic it allows for instant credit demand response.

This platform therefore simultaneously allows two things. First, it allows you to borrow money, which in itself is already a great thing. But secondly, it allows you not to have to sell your cryptocurrencies if you need money.

And that’s the point. If you bought Bitcoin for example, you definitely believe that the value of Bitcoin will increase. Therefore, it would be a shame to have to “sacrifice” these potential value gains for a few purchases. But if you are reading this blog, I guess you have learned how to manage your personal finances better and these kinds of situations should not be familiar to you. In our case, it is rather another possibility of the platform that will interest us and that we will see immediately.

Make money with your cryptocurrencies on Celsius Network

The real interest of Celsius Network for us is this ability to generate interest on the cryptocurrencies that we would keep on the platform. The latter acts like a bank in which you would have deposited your cryptocurrencies in a savings account and which pays you on it.

In fact, you can therefore consider Celsius Network as a savings account in which you place your cryptocurrencies but which will generate much higher interest than what your bank would have generated. These rates fluctuate regularly because they adapt according to supply and demand, we will come back to them later. But, as of this writing, Bitcoin‘s interest rate is 4.74%, Ethereum’s is 5.50%. We are starting to realize that Celsius Network has really interesting arguments.

Another not insignificant argument, the interest is paid every week. So you get the best out of compound interest. Interest received one week increases the capital base for calculating the following week’s interest, and so on.

I think Celsius Network really gives us the best of both worlds. On the one hand, we keep our Bitcoin, Ethereum and other cryptocurrencies that will rise in value. But on the other hand, we also earn interest on them. So even our interests gain value over time. All of this therefore offers us a new way of generating passive income.

The CEL Token: What if we lowered the interest we pay and increased the interest we receive?

Celsius Network also has a token, the CEL, which is sort of the platform’s cryptocurrency. This is a more utilitarian Token because it will allow you to access rewards and benefits.

The CEL token mainly offers 3 significant advantages:

1. If you agree to pay the interest on your loan with CEL tokens, you can receive a reduction of up to 30% of that interest.
2. If you agree to receive your interest on your cryptocurrencies placed in CEL token you can receive up to 30% more interest. Which, if we take the situation of 1000 USD of Ethereum placed but with a payment in CEL, the situation is much more interesting. From 5.50% interest, it goes down to 7.21%.

3. To top it off, if you agree to receive your interest payments in CEL, you will receive interest that will increase in value over time. If we look at the evolution of the CEL price over the past year, we notice that it has gone from EUR 0.12 to EUR 4.34, and even up to EUR 5.20 at its peak. 

Receive $ 20 of Bitcoin for free

To top it off, Celsius Network has a referral program. By using my link to Celsius Network and entering the referral code “Daniego14aa” you will receive free $ 20 of Bitcoin as soon as you have deposited $ 200 of cryptocurrency on the platform. As far as I’m concerned, I also receive the same amount so everyone wins.

Conclusion and review

You will have understood it through this article, Celsius Network is a revolutionary platform that will allow you to explode your passive income thanks to cryptocurrencies. We are well aware of the evolution of the current world where the financial sector is gradually being replaced by fintech which completely revolutionizes the way of operating. One can only admire the environment set up by Celsius Network which even seems too good to be true.

I have been using it for over a year, never saw a problem, I always get my interest every week and I can withdraw funds whenever I want. Also, even if it’s a small detail, I love being able to manage everything from my smartphone.