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Revainrating 3 out of 5

Celsius Network, launched in 2018, is a borrowing and lending platform that…

Celsius Network, launched in 2018, is a borrowing and lending platform that will allow users to earn up to 7% interest on their cryptocurrency while taking loans at 9% interest, using their crypto as collateral. The platform uses Blockchain to enable peer-to-peer lending, and the credit limit and the interest rate is based on what is the best interest on the entire membership, not just the lenders. Celsius interest rates are updated weekly based on the demand in the market. Interest are paid in

Pros
  • - Interest rates earned on Celsius platform start at 3% and go up to 7.1% (team is trying to keeping interest rates above 3% for all the assets supported in the app). - No minimum or maximum deposit. - Users will be able to pay off their loan at a 20% discount by using CEL tokens. - Celsius is finalizing an agreement with a reputable external auditor (it is necessary to have an auditor, in my opinion). - Celsius seems to be the only company in crypto sector to have more hard working women than men.
Cons
  • - Celsius Network currently does not have an insurance policy (even if Company will continue to make choices in the best interest of the community). - Celsius ROI -58,51% (the approximate return on investment if purchased at the time of launch). - Great potential even if Celsius is a young project, in early stages.