Best For

      Investors
      Exchanges
      Professional Traders
      Hedge Funds
      Blockchain Focused Businesses

Celsius is a centralized crypto-to-fiat loan platform with a global customer base. Users can choose from three different loan options and secure loans without selling their crypto assets. Celsius launched in 2018 and currently maintains offices in the US, UK, and Israel.

Celsius Network Crypto Loans - 2020 Comprehensive Review

Overall Score:

8
Trusted
Global Access:
8 of 10
Loan Options:
7.5 of 10
Easy of use:
8 of 10
Trust:
7.5 of 10
Fees & Rates:
8.5 of 10
Support:
6.5 of 10

Celsius Network Overview

APR Rates3.46% - 6.26%
Borrow AssetsUSD, USDC, DAI, TUSD, GUSD, PAX, USDT
Rate VariabilityLow Variable
Loan Amounts$1,500 - $1,000,000
Receive FundsFiat : 1-3 Business Days, Stablecoin : Instant
Repayment TypeInterest Only
Available LoansFiat, Stablecoins
Accepted CollateralsBTC, ETH, BCH, XRP, LTC, DASH
Collateral LTV50% - 50%
Margin Call LTV70%
Collateral InsuranceNo
KYC CheckYes
Platform FeesNo Fees
Network TokenCelsius
Token Benefits5% of the total balance must be kept in CEL Tokens in the deposit wallet to get the published APR rates on your Loan.
Platform TypeCentralized Lender
Credit CheckNo
Supported RegionsAll Countries
Excluded RegionsSanctioned Countries

APR Rates

Borrow AssetAPR Rate
US DollarsUSD3.46% - 6.26%
USD CoinUSDC3.46% - 6.26%
DAIDAI3.46% - 6.26%
TrueUSDTUSD3.46% - 6.26%
Gemini DollarGUSD3.46% - 6.26%
Paxos StandardPAX3.46% - 6.26%
TetherUSDT3.46% - 6.26%

Collaterals Accepted

Collateral AssetCollateral LTV
BitcoinBTC25% - 50%
EthereumETH25% - 50%
Bitcoin CashBCH25% - 50%
XRPXRP25% - 50%
LitecoinLTC25% - 50%
DashDASH25% - 50%

Celsius Network Crypto Loans Alternatives

Rating8/108.5/108.5/10
Best Stablecoin APRUSD 3.46%USD 5.9%USDC 4.5%
Collateral LTV25% - 50%15% - 75%20% - 50%
Margin Call LTV70%80%70%
Fiat LoansYesYesYes
Collateral InsuranceNoYesNo
KYC CheckYesYesYes
Credit CheckNoNoNo
Learn MoreReviewReviewReview

Pros and Cons

Pros

  • Fees - Celsius does not charge default (margin call) fees, early termination of loan (prepayment) fees, or origination fees.
  • Competitive Interest Rates - Selecting the lowest LTV ratio loan option enables users to receive a loan with an APR rate of 4.95%, which is competitive among reputable loan platforms.
  • No Credit Checks - Celsius does not require or conduct credit checks on users looking to obtain a loan through their platform. Additionally, any account activity through Celsius will not affect a users credit rating.
  • Tax Benefits - As with other crypto-to-fiat loan platforms, Celsius loans are not considered taxable events because users do not have to sell their crypto assets in order to secure the loan.

Cons

  • ICO - Celsius Network elected to run an ICO to raise funds for operations in 2018. Many feel this is a controversial approach, as crypto loan platforms such as BlockFi have proven that a native token is not needed to offer services.
  • Non-Insured Deposits - Assets deposited with Celsius, although held separately by a trusted custodian BitGo, are not insured. In the event of serious company losses or damages, users will have to rely on the Celsius Network balance sheets to recoup assets.
  • High Risk Assets Accepted - Celsius Network allows users to put up several high risk assets as collateral in order to receive a loan. Some of these assets may rapidly lose market value and create a liquidation risk that is beyond the standard of most crypto asset backed loans.
  • Privacy - Users looking to secure loans from Celsius Network are required to KYC and submit personal identification information.

Frequently Asked Questions

Is Celsius Network safe?

Does Celsius Network have a mobile app?

What are the fees on the Celsius Network lending platform?

Is Celsius Network insured?

Does Celsius Network accept US customers?

Summary

Celsius has been one of the more successful loan platforms in the blockchain finance space, benefiting from strong leadership experience and $50M USD raised from it’s token sale in 2018.

It’s largest customers are exchanges and hedge funds looking to create markets, seek arbitrage opportunities, and earn interest on crypto asset balance sheets. Industry leading custodian BitGo has recently confirmed that it has maintained over $1 billion in crypto asset deposits for Celsius over the past year.

Users should be aware of concerns that the Celsius platform native token (CEL) could be defined by financial regulators as a security. There have also been calls for greater transparency from Celsius surrounding their revenue model - mainly how and to whom the company is loaning customer deposit balances to.

Overall, Celsius has thus far provided an above average loan service to both institutional and retail investors. Blockfer recommends that retail investors interested in Celsius be aware of the aforementioned risks and use their products responsibly.

Learn More Best Features

Celsius Network Official Website

  • Borrow a minimum of $1,500 dollars that can be deposited in your bank account or use any of the popular stablecoins.
  • Supports many crypto assets as collateral; BTC, ETH, BCH, XRP, LTC , DASH, and EOS
  • Competitive loan rates compared to the other popular centralized crypto lenders.

Legal & Regulation - Facts & Figures

Legal Name Celsius Network Limited
Incorporated Country United Kingdom
Headquarters New York, NY United States
Year Founded 2017
CEO Alex Mashinsky
Total Employees 11-50
Regulators Not Regulated
Links Website, Crunchbase, Whitepaper, Source code, Twitter, Blog, LinkedIn

Methodology: How We Review And Compare

Our mission is to provide the most informative, unbiased, and useful reviews and comparisons possible for products and services in the blockchain finance industry. Assessments are powered by experts with years of relevant experience.

The crypto lending platforms found in this category have been tested extensively by our team as part of the review process. Factors we analyze in our crypto loan reviews and comparisons include: APY rates, available assets, loan amounts, loan options, LTV ratios, platform fees, reputation, ease of use, loan terms and fees, and customer support.

The Blockfer Promise: We do everything in our power to keep content up to date and in the best interests of our audience. Blockfer does not shy away from poor ratings. Products or services that do not meet our reputability standards will be rated as 'Not Trusted'. Compensation from partners does not, and will never, effect our review process.

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