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Mar 16, 2018
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Celsius helps over a million customers worldwide to find the path towards financial independence through a compounding yield service and instant low-cost loans accessible via a web and mobile app. Built on the belief that financial services should only do what is in the best interest of the customers and community, Celsius is a blockchain-based fee-free platform where membership provides access to curated financial services that are not available through traditional financial institutions.
An economy where financial freedom doesn’t come with a price tag. Where the interests of the people are put first. Where ethical behavior is the baseline, and where everyone – and we mean everyone – has the opportunity to succeed financially. With a little bit of humanity and honesty, and the power of a digital currency that’s as strong as it is accessible, we’re ushering in the new economy today.
Celsius is proud to provide a platform of curated services that have been abandoned by big banks – things like fair yield, zero fees, and lightning quick transactions. Our goal is to disrupt the financial industry, one happy user at a time, and introduce financial freedom through crypto.
Up to 30% more rewards
Earn your weekly rewards in CEL and earn at rates up to 30% more.
Up to 25% discount on loans
Pay your interest on loans with CEL for up to 25% discounts on all your interest payments.
Earn 6.68* APY
HODL with Celsius to earn 6.68%* APY weekly rewards in CEL.
Verified 0%
Attention. There is a risk that unverified members are not actually members of the team
Verified 0%
Attention. There is a risk that unverified members are not actually members of the team
Opportunities:
Earning interest while assets are deposited at a wallet is a new idea and should be attractive to many users who are just holding their cryptocurrencies anyways.
The project is led by a team who had created successful ventures in the tech industry multiple times before. We believe that in entrepreneurship, past success is a strong indicator of future success.
Celsius makes it easy to become a lender – users simply store their assets at the wallet. This makes onboarding lenders easier which may lead to a lower borrowing rate.
CEL tokens will have immediate utility (applying for dollar loans and receiving a discount on interests) at the moment of token generation event.
Concerns:
In cryptocurrency, the trend is slowly moving towards Proof-of-Stake (PoS), which allows coin holders to receive extra holdings when they hold onto their coins. Therefore, the interest earned on the Celsius wallet needs to be higher than the return from staking coins.
Conclusion:
Overall, we are neutral about the short-term potential of this ICO but like its long-term potential. Our thoughts of the tokens for short term and long term are as follows:
For short-term holding:
Neutral. In the current market environment, it is getting a lot harder to reach hard cap with unmet demand. Celsius’ fund raising amount of $50 million makes it difficult to fill the hard cap, leaving no unmet demand.
For long-term holding:
Good. We like the project’s idea which is backed by an all-star team who had created successful startups in the past.
Cryptocurrency lending projects are easier to gain traction compared to projects in industries where the use of cryptocurrency is not prevalent yet. Celsius Network also makes it easy to become a borrower. With the strong team in place, we believe it has a good chance to succeed.
Celsius aims to provide a better lending and borrowing experience for everyone. It gives lenders an easy way to lend Ethereum and receive a positive ROI on their investment. Meanwhile, borrowers can sign up for the platform and view an available interest rate within minutes. It’s all built on the Ethereum blockchain and Ethereum smart contracts.
The Celsius pre-sale already took place, and the company raised $30 million from accredited investors during that pre-sale. The general crowdsale takes place in January 2018.
Celsius is creating a P2P platform with the aim of evolving the future of borrowing and lending in a decentralized environment of blockchain technology similar to Hamster, Storiqa, Hade, Flying Money, Havven and Amon.
They are using a proof of stake approach that enables the platform community members to lend and borrow with each other without any interference from any government authorities.
