Celsius Network CEL Price

What is Celsius Network (CEL)?

Celsius (CEL) is the native token of the Celsius Network. It plays a key role in the platform by enabling users to earn rewards, pay interest on loans at discounted rates, and participate in community activities. Users can trade CEL on various cryptocurrency exchanges.

About Celsius Network

Celsius Network is a cryptocurrency banking platform designed to provide financial services to users in a way that traditional banks do not. Launched in 2017, Celsius allows users to earn interest on their cryptocurrency deposits, take out loans, and engage in wallet-style payments.

Founders of Celsius

Celsius was co-founded by Alex Mashinsky and Daniel Leon. Mashinsky has extensive experience in internet development and has founded multiple startups. Leon has a background in growing early-stage companies. Together, they lead a team dedicated to providing innovative financial solutions.

Unique Features of Celsius

Celsius stands out by offering much higher interest rates on savings and fairer loan requirements compared to traditional banks. The platform uses a consensus-based, proof-of-stake mechanism that allows users to lend and borrow from each other. Users can earn up to 17% yield on their assets and borrow at rates as low as 1%.

How Does Celsius Work?

Celsius operates with four main participants: lenders, borrowers, the Celsius platform, and external exchanges. Lenders deposit their cryptocurrency to earn interest, while borrowers can take out loans backed by their crypto assets. The platform facilitates these transactions and redistributes the interest earned to lenders.

Token Supply and Trading

Celsius has a maximum supply of 695,658,161 CEL tokens. Approximately 76% of these tokens are in circulation. CEL is an ERC-20 token on the Ethereum blockchain and can be traded on several major exchanges, including FTX Spot, Huobi Global, and Gate.io.

Security Measures

Celsius uses a modified proof-of-stake algorithm to secure its network. Users are encouraged to implement strong security practices, such as two-factor authentication, to protect their accounts from potential threats.

Conclusion

Celsius Network aims to transform the financial landscape by offering decentralized banking services that prioritize user benefits. By leveraging cryptocurrency, it seeks to provide a more equitable and transparent financial system for all users.

What is unique about Celsius Network (CEL)?

Celsius Network stands out for offering significantly higher interest rates on savings and fairer loan terms compared to traditional banks, allowing users to earn up to 17% on their deposits while borrowing at rates as low as 1%.

Who are the founders of Celsius Network (CEL)?

Celsius was co-founded by Alex Mashinsky, a pioneer in internet development, and Daniel Leon, an experienced leader in early-stage startups, both dedicated to transforming the financial services landscape through cryptocurrency.

Where can I buy Celsius Network (CEL)?

 MEXC, CoinEx, Indodax, Uniswap V2 (Ethereum), Quickswap