Best For

      Retail Lenders
      Stablecoin Holders
      Blockchain Focused Companies

Celsius is a centralized crypto asset lending platform offering interest products to both retail and enterprise grade customers. The company launched in 2018 following a controversial ICO in which over $50M USD was raised. Celsius supports 20+ crypto assets including Bitcoin (BTC), Ethereum (ETH), large market cap altcoins, and every major stablecoin.

Celsius Network Interest Account - 2020 Comprehensive Review

Overall Score:

7.5
Trusted
Global Access:
7.5 of 10
Interest Accounts:
8.5 of 10
Ease of use:
6.5 of 10
Trust:
7 of 10
Fees & Rates:
9 of 10
Support:
7 of 10

Celsius Network Interest Account Overview

APY Rates0.00% - 16.16%
Interest Earning AssetsBTC, ETH, LTC, XRP, BCH, ZRX, BTG, ZEC, XLM, DASH, TUSD, GUSD, PAX, USDC, DAI, USDT, EOS, CEL, OMG, TGBP, TAUD, TCAD, THKD, ORBS, XAUT
Rate VariabilityHigh, Low Variable, Medium Variable
Earn Interest onStablecoin, Crypto
Deposit Amounts$1 - $1,000,000
Payout FrequencyWeekly, Daily
Lockup TermsFlexible
Compound InterestNo
Network TokenCEL
Token BenefitCEL Token must be deposited in your CEL wallet in order to lock-in the rates published. (5% in CEL tokens of the account balance.)
Platform TypeCentralized Lender
Deposit InsuranceFalse
Credit checkNo
KYC CheckYes
Platform FeesNo Fees
Supported RegionsAll Countries
Excluded RegionsSanctioned Countries

Celsius Network Interest Rates (APY)

Earn OnAPY Rate
BitcoinBTC4.55% / 6.20%
EthereumETH4.55%
LitecoinLTC5.05%
XRPXRP3.61%
Bitcoin CashBCH4.51%
0xZRX3.00%
Bitcoin GoldBTG0.00%
ZCashZEC3.61%
StellarXLM3.10%
DashDASH5.50%
TrueUSDTUSD11.55%
Gemini DollarGUSD11.55%
Paxos StandardPAX11.55%
USD CoinUSDC11.55%
DAIDAI16.16%
TetherUSDT11.55%
EOSEOS4.45%
CelsiusCEL5.12%
OmiseGOOMG3.11%
TrueGBPTGBP11.55%
TrueAUDTAUD11.55%
TrueCADTCAD11.55%
TrueHKDTHKD11.55%
OrbsORBS0.00%
Tether GoldXAUT4.51%

Celsius Network Interest Account Alternatives

Rating7.5/107.5/108/10
Best Stablecoin APY RateDAI 16.16%DAI 1134200.00%GUSD 8.6%
Locked TermsFlexibleFlexibleFlexible
Payout FrequencyWeeklyDailyMonthly
Compound InterestNoYesYes
Deposit InsuranceNoNoYes
KYC CheckYesNoYes
Credit CheckNoNoNo
Learn MoreReviewReviewReview

Pros and Cons

Pros

  • No Account Fees - Celsius users can make zero-fee withdrawals at any time, and there are no minimum balance requirements.
  • Interest Rates - Celsius offers very competitive interest rates on the majority of their supported crypto assets.
  • Experienced Team - The founding team at Celsius has an impressive entrepreneurial track record.
  • No Minimum Deposit - Celsius does not have minimum account balance requirements. This makes it easier for beginning investors to earn interest on their crypto assets.
  • No Lock Ups - Users can withdrawal their crypto assets at any time without being subjected to penalties or fees.
  • Crypto Assets Supported - Interest rates are available for Bitcoin (BTC), Ethereum (ETH), every major stablecoin, and 10+ large market cap altcoins including: EOS, Ripple (XRP), Bitcoin Cash (BCH), ZCash (ZEC), and more.

Cons

  • Account Balances Not Insured - User account balances with Celsius are not insured and as a result, there is a significant amount of trust being placed in the company when using their services.
  • No Compound Interest - Users only earn interest on the initial principal of their crypto asset deposits.
  • Weekly Interest Payments - Celsius pays interest on user crypto asset account balances every week as opposed to daily.
  • Native Platform Token - In order to receive the highest possible APR on crypto asset deposits with Celsius, users have to accept interest payments in Celsius (CEL) tokens. The token is not listed on many major exchanges, and there are concerns that CEL may be labeled as a security by regulators.
  • Withdrawal Limits - Any withdrawals valued greater than $20,000 per 24-hour period require the account owner to contact customer support for manual withdrawal approval.
  • Limited Accessibility - The Celsius platform can only be used via their mobile app.
  • Privacy - Creating an account with Celsius and depositing funds does not require a KYC process. This being stated, users must complete KYC before they can begin earning interest on deposits.

Frequently Asked Questions

Can I earn interest on my stablecoins with Celsius Network?

Can I earn interest on my Bitcoins with Celsius Network?

Does Celsius Network have a mobile app?

Does Celsius Network offer compound interest on account balances?

Summary

Celsius has become a popular choice for both retail and enterprise grade investors looking to earn interest on their crypto asset holdings. Since launching their services in 2018, the company claims to have overseen $400M USD in deposited crypto assets with 53,000+ active wallets.

Despite their early success, we believe there are better interest product options available for retail lenders. Celsius does not offer compound interest on customer account balances, pays out interest weekly as opposed to daily, and their services can only be accessed via their mobile app.

Blockfer believes that both Nexo and BlockFi offer superior interest product options.

As an important reminder, potential Celsius users should be aware that their account balances are not insured and as a result, they are depositing at their own risk. Crypto asset interest products should always be used responsibly and users should not deposit more than they can afford to lose.

Learn More Best Features

Celsius Network Official Website

  • Earn 7%-8% interest on all the popular stablecoins like USDC, TUSD, USDT, DAI, PAX, and GUSD
  • Supports Stablecoins denominated in international currencies like TGBP, TAUD, TCAD, and THKD
  • Large selection of crypto tokens from different blockchains to earn interest on like EOS, XPR, XLM, and BCH.

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 interest product providers found in this category have been tested extensively by our team as part of the review process. Factors we analyze in our interest product reviews and comparisons include: APR rates, compound interest, available assets, terms and fees, and deposit amounts.

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.

Make Better Decisions With Your Crypto.
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Make Better Decisions With Your Crypto.
How We Earn Revenue