Honest Review to Celsius Network (CeFi Service)

Today i want to take some time to write about Celsius Network, which has been one of the rising star CeFi apps in the space recently. I invested in their native token when it was priced at 0.13$ or something and you can see below that it has far gone that number now. However, this project is much more than the token itself.

The idea behind the application is to be centralized lending and loaning platform, during this week many DeFi applications have gone through hacks and that has created a lot of concerns for me on the real level of trust here. Because of this, i want to invest more in centralized entities because smart contract standards and protection is not on the level where it should be as of right now. 

One of the key elements here on Celsius is that you can choose to earn an interest rate on Celsius Network token with a higher % APY, which is paid on weekly basis, or alternatively, you can go with the standard rate and earn the currency on a lower % rate. I Do want to emphasize it's very important to look at % rates and compare it to existing CeFi or DeFi services and then crunch your numbers and think what is exactly competitive.

When we are looking at the Stablecoin rates (Which they have a bunch of for USD-based stablecoins also Australian dollar among others) They offer a flat 10.51% for everything. While this is an excellent rate for some of the stablecoins in the list I do want to emphasize that it's not the highest rating for Tether for example that you can get on a centralized entity.

The biggest perk and strongest point of Celsius Network versus any of the existing CeFi platforms is just the multitude of coins that are available here on the list. Historically only ones they have delisted are ORBS and BTG if I recall right from the top of memory. 

In terms of the exchanges where CEL Token is available is pretty vast itself, due to their buyback system it makes it very competitive option.

• Uniswap
• Liquid
• Bitmart
• Bilaxy
• Switcheo
• HitBTC
• Idex

And there are a bunch of other places which are selling it too, obviously, it's a direct competitor for a lot of centralized exchanges and other services, however when you think about it it's not listed on any super major exchange yet - which could mean nice bumps in the future.

Pretty much all the benefits are pretty strong in Celsius Network including the terms what comes to the actual lending side of it, which I personally I still have yet to do in crypto, guess  I never needed a loan that bad huh? But the revolutionizing aspect of collateral-based lending always been amazing to me.

As final thing I do want to mention the referral program which pays 20$ in BITCOIN if you get a friend to deposit 100$ worth of crypto in the app, if you want to support my work please consider signing under me - https://celsiusnetwork.app.link/15637118d0

or alternative just fill in my code 15637118d0