The Epic Unbanking: Celsius Network
Celsius seems to be crashing? As the crypto market is nearly the most unpredictable field existing (partly joking, but we consider weather forecasts even more accurate) we will not make any predictions on how the story ends. But meanwhile let’s see what the Celsius Network was supposed to be.
The Epic Unbanking: Celsius Network
(Last Updated On: June 15, 2022) For as long as humans have walked the Earth and progressed over millennia, there has…
For as long as humans have walked the Earth and progressed over millennia, there has always been something missing that we have not held within our hands until only the recent ages. That something is economic freedom.
Throughout the world, you may see that we are economically free to do what we want. Our human rights are at stake, and profit-driven banks and companies may feed into this economically caged world. How is this relevant? In recent years, the tides have begun to turn.
People are becoming aware, and thanks to this awareness, we have reached many aspects of the world, including the world of cryptocurrency.
What is Celsius Network?
Celsius is a platform that provides banking and financial services to cryptocurrency users. The company was first set up in 2017, where co-founders had drawn the plan for Celsius on nothing but a napkin.
Today, it stands as a company with strong moral values, offering financial help to those who need it in the form of cryptocurrency and giving economic freedom while utilizing the Celsius Network to be fair.
Celsius Network is a FinTech platform that offers saving accounts with high-interest rates, making sure 80% interest is in the palm of your hand, loans, and payments using cryptocurrency.
The project has one strong aim: ߵTo put unparalleled financial-economic freedom in the palms of the peopleߴ. It aims to bring justice and security to the FinTech world, making sure to treat its customers fairly by offering easy-access loans, high return rates on savings and deposits, and a rewards program to give back to the Celsius community.
Celsius offers reasonable prices, and Celsius Network rates of return are unparalleled and offer back to their community more than other banks. The network also functions as a wallet through its CelPay feature. Users earn rewards when they link their CEL tokens with CelPay.
As you read this, you might wonder, how does the Celsius Network help people financially using cryptocurrency? In March of 2018, Celsius launched its own crypto token to sell after putting forward its Initial Coin Offerings (ICO). These coins are called CELs. The ERC-20 standard token was distributed among the treasury, team, partners, and advertisers.
These can be bought and exchanged on the crypto market, just like all other tokens. These tokens were created to put the Celsius community first. Without any other shareholders, the CEL circulates around the market in a loop. About 50% of the maximum CEL token supply was released in the ICO conducted in 2018.
The more CEL tokens you buy, the more you are eligible to receive rewards from the company. Moreover, your loan interest discounts depend on how many tokens are in your possession. Their total coin supply as of yet is 695,658,161. About 24% of the total coins are currently locked and scheduled for release upon the network’s roadmap.
Celsius Key Values
Using Celsius, the company’s main goal is to allow financial support to people who buy their tokens. Not only that, they wish to give their clients 100% freedom and fair financial services to anyone who wishes for it. These financial services include loans using cryptocurrency and paying using CEL tokens by transferring them to the specified recipient.
Other financial services in the works include swapping other cryptocurrencies and creating credit cards for the clients with an opportunity to earn rewards. Celsius offers loyalty rewards for its users and offers discounts on lending rates. Meanwhile, it also promises high-interest rates.
Celsius for Businesses
Celsius offers partnerships to businesses and individuals to provide the best services of lending and borrowing digital assets to all clients while benefitting both the company itself and the business it partners with.
These well-known businesses and individuals help give exposure to Celsius network. Celsius serves high-net-worth individuals, fund managers, and corporations, using the Celsius services to meet the client’s needs.
People from 150 different countries can trade and utilize CEL tokens, making payments easier through CelPay. The network also has $30 million in insurance for assets that are stored in the Celsius wallet app. This provides more transparency and stability to the whole ecosystem of Celsius.
Still eager to buy $CEL?
Consumers can trade CEL tokens on Swapzone choosing the best deal out of the many, The token is available in different pairs, with cryptocurrencies as well as stablecoins. Here is the step-by-step guide on how you can exchange ETH to CEL:
Step 1. Launch Swapzone on your browser.
Step 2. Locate the “select pair” tab and insert ETH in the “send” section. Ensure that you also include the exact amount of crypto that you are ready to swap for CEL.
Step 3. In the “get up to” section, ensure that you indicate that you want to receive CEL.
Step 4. Once you’ve entered these details, Swapzone will then provide you with a list of different exchange rate offers from different exchange platforms/partners. Go through the different offers and pick one that only suits your needs.
Step 5. To validate the authenticity of the exchange partner, simply click on the partner and you will have access to more information about them. Once you’ve settled with the exchange partner, simply click on “exchange” to proceed.
Step 6. Enter the wallet address where you want to receive your HOGE coins. You may also provide a refund wallet address along with an email address. To initiate the transaction, simply click on “proceed to exchange”.
Step 6. The exchange partner will receive your ETH and will start processing your CEL tokens. The process may take some time so please be a little patient while they process the coins for you.
Step 7. Once the process is through, you will receive CEL in your wallet. After confirmation, simply rate the process and leave behind an honest review.