A warm welcome to another Let’s Simplify Things! post!
Today let us simplify, if you had to choose between Celsius and CredEarn, which one should you choose?
Let us start with CredEarn.
If you are a Brave browser user you are certainly familiar with Uphold, the place where the BAT you earn by using the browser end every month.
Well if you have an Uphold account you practically have a CredEarn one.
CredEarn offers interest rates in various cryptocurrencies, all major ones are offered and stable coins.
I will not put a list of the supported cryptocurrencies and rates as both CredEarn and Celsius keep adding new ones and rates change all the time.
And it is easy to find the lists at their websites.
In CredEarn the interest is only paid out in the native coin LBA.
I like to have the choice of paid in kind or the native coin, so that is a minus for me.
If you buy and stake 10.000 LBA you get a higher interest rate of between 1% to 4% depending on the cryptocurrency.
Another minus for me is that they only offer 6 months locked up programs.
So no much flexibility there!
They give you the choice of daily compound or simple interest.
If you choose the daily compound you will receive everything at the end of your program.
On simple interest you get monthly payouts.
Another point I don't like is that there is no clear and simple information, when you start your program, on the exact amounts you will earn and how they are calculated!
You also can not start your program immediately but either on the 1st of the month or the 15th of the month.
There are no minimums to start a program and it is free to transfer your assets between Uphold and CredEarn.
But to transfer to your own wallet or an exchange there are fees!
And yes, Uphold offers the option to exchange your assets between the various offer cryptocurrencies and to withdraw FIAT to your bank account.
I don’t know how competitive it is, cost wise, compared to the various options out there but it is pretty easy to use so you should definitely check it out!
Now let us have a look at Celsius.
Celsius offers interest in various cryptocurrencies as well.
There are no fees for either depositing or withdrawing to any address.
Your assets are not blocked!
The interest is paid every week either in kind or in the native coin CEL.
If you choose to get paid in CEL you get a higher rate in some cryptocurrencies.
You don’t need to buy and stake to earn a higher rate only to choose to be paid in CEL.
The rates offered are relatively similar, in most cases Celsius offers a bit higher ( especially by having a weekly payout ).
As for safety I never felt that my assets were not safe in either of them.
So, no issues there in my opinion.
As for the quality of the support, I never had a bad experience with either of them!
And anytime I had a question or issue it was resolved!
So happy with both of them on that!
So, which one to use?
For me it is pretty simple, I only use CredEarn for the BAT I get from using Brave as it is not worth it to spend the fees to transfer them out.
And I don't intend to sell it or exchange it to another cryptocurrency within the next 6 months.
Noticed that it used to be free to withdraw your BAT from Uphold to any address, but not anymore!
For everything else I use Celsius.
Of course there are more options out there to earn interest on your cryptocurrencies and maybe better ones.
Hopefully in the future I will write about them.
But only after I have used them for sometime and have a personal experience of them!
Please feel free to make any suggestions or comments especially on what you would like to see next being simplified!
Finally, before saying goodbye I want to let everyone know that I have no sponsors, this post is not sponsored by neither Celsius nor CredEarn or any other website.
You will only find my personal referral link for Celsius, that I highly appreciate if you use it to access Celsius!
The above reflect my personal views and by no means should be taken as a recommendation to use or not use any service or equipment whatsoever!
Until the next post....
Thank you all from the bottom of my heart!
My referral link also offers you 20USD in BTC!
Celsius Referral link: https://celsiusnetwork.app.link/1684809d9d