Celsius Review (2021): Best place to HODL your cryptocurrency

Using Celsius is one of the best ways to HODL your cryptocurrency. Here is our review of the leading interest income and crypto lending platform.

Celsius Review (2021): Best place to HODL your cryptocurrency

There must be something more that you can do with your treasure trove of cryptocurrency, and you're wondering what that could be. How about taking a cash loan against your cryptocurrency? Or perhaps you could deposit it somewhere to earn a higher interest. Celsius Network has just the perfect solution – allowing you to take cash or stablecoin loans using your cryptocurrency as collaterals or simply offering you attractive interest rates when you deposit your coins with them.

Get $40 with Promo Code: NEW40

Sign up for a Celsius account with the promo code: NEW40, and get $40 in DAI. All you need to do is transfer $200 or more in cryptocurrency to your wallet balance and hold the balance for at least 30 days. DAI is a stablecoin that is pegged to the USD.

Earn higher interest on your cryptocurrency

Earning more interest with your cryptocurrency on Celsius is simple. Transfer your cryptocurrency over to Celsius, HODL, and start earning! Celsius offers attractive interest rates that are way higher than the typical bank, and the rates vary depending on the individual cryptocurrency. Usually, the less popular currencies commands a higher earning rate.

To make the most out of your HODLings, there are two things you need to do. One, change your settings to earn all rewards in CEL – doing this will earn you 25% more in rewards. And two, ensure that CEL tokens make up 25% or more of your total wallet holdings in Celsius – you unlock the Platinum loyalty level by doing this and earn an additional 25% in rewards.

Celsius is not shy about pushing you to utilize their CEL tokens by giving you huge rewards. Make sure you take advantage of the benefits while they last.

Borrow cash or coins using your cryptocurrency

Celsius allows you to borrow stablecoins or dollars against your cryptocurrencies. Stablecoin loans start at $500 per loan, and dollar loans start at $10,000 per loan. You can get clear details about your loan using their nifty calculator. Adjust your preferred loan-to-value (LTV) percentage and length of your loan accordingly. The higher your LTV, the higher the amount of interest you'll pay.

The APR (Annual percentage rate) is attractive, starting at just 1%. Also, you can enjoy paying even lesser interest if you opt to pay with CEL.

Celsius sounds great! What else to take note of?

Without a doubt, Celsius is on the right track to building more useful products for its growing customer base. The UK company had just grown to more than 500,000 members and crossed the $10 Billion mark in community assets.

It is no wonder, given how attractive the rates that Celsius offers are, compared to the traditional banks. Personally, I am interested in seeing whether Celsius will continue to offer such fantastic rates in the long run or increase the rates once they have acquired a certain number of users. Only time will tell.