Pointed to a new oppportunity?

When I wrote a Post earlier this week that I was doing my own research into ways to invest what I earn from blogging in a responsible way @travelwritemoney pointed me to celsius.network

There we go again ...

Because I had never heard of it myself, you get that if you sometimes seem to live under a rock in your own little closed corner of the world, so I decided to delve a little further into it. In this way I weigh up all the pros and cons for myself. And I hope to be able to make a good choice in the end. Because the latter is necessary to achieve my goal. Too often in the past, I have just impulsively bought crypto without delving into what I actually bought. That has of course resulted in some nice 'mistakes', if you can call it wrong.

And no matter how much I like blogging, put that first of all, I blog for a reason. I do want to benefit from it myself.

Get an interest on ALL coins

The response I read from @travelwritemoney appealed to me enough. At celsius.network it is possible to get an interest on ALL coins that you hold there. And that is an interesting opportunity to take a closer look because it simply means that you also get interest on coins that you normally would not get.

Quick example

Just to give an example. If you hold your Bitcoin in a wallet on the celsius.network, you will earn interest every week on the Bitcoin that you hold there. On the celsius, .network site I found a calculator that let me calculate what you can earn. And I certainly do not believe that this will be 100% accurate ... but of course it gives a nice indication.

Paid in CEL it's even more!

Celsius also has its own coin, the CEL. And if you indicate that you have your interest paid out in CEL, your interest per week is even higher. I entered an example in the calculator to see that difference. And it's a significant difference, which in my humble opinion makes it worth paying your interest in CEL.

Quick Calculation

Suppose you make a deposit of 0.1 BTC at Celsius. And you leave this for a year. Then according to the calculator on their website you will get $ 1.01 interest per week on this 0.1 BTC, making $ 52.41 by the end of the year. But be aware, if you choose to have your interest paid out in CEL, this picture will change and your interest will suddenly increase to $ 1.97 per week and you would have made $ 102.23 by the end of the year. That is almost a doubling of the interest.

NO minimum and NO fees

To start building interest on your crypto at Celsius, NO minimum deposit is required. So you can choose in which crypto you get the interest every week. You don't pay fees if you want to withdraw your crypto. And it is also not the case that you have to lock up your crypto for some time. You always have 100% access to your funds.

But what exactly is celsius.network?

Before you choose to place your funds there, it is of course also wise to know what their vision is. What Celsius' mission is and why they founded their company.

A fairly young company

Celsius has been around since 2017, so still a fairly young company, and was founded with the mission to use blockchain technology to create 99% financial freedom, economic opportunity and income equality. Something that is simply impossible at the large banking institutions as we have known them for years. Celsius wants to ensure that our current financial systems are replaced by a system that will always act in the best interest of the community. They offer services that are not possible through traditional institutions and have the vision to bring the next 1 million people into the crypto currency.

The services offered by Celsius are the following:

• Earn Coins
• Earn Gold
• Buy Coins
• 1% Cash Loans
• Pay Cell
• Cell Token

In my humble opinion, these are quite comprehensive services that can indeed change the financial system. And it can therefore be attractive to place your crypto currency with Celsius.

Bonus for holding CEL

What is attractive to keep in mind, if you want to 'earn' as much as possible about the crypto that you hold at Celsius, is also to buy and hold an x ​​number of CEL. They also have a bonus system there which is divided into 4 levels, namely:

• Bronze, if your CEL is less than 5% of your total holdings. That gives 0% bonus interest
• Silver, Your CEL holdings are 5% to 10% of your total holdings. That gives you 10% bonus interest
• Gold, Your CEL holdings are 10% to 15% of your total holdings. That gives you 20% bonus interest
• Platinum, Your CEL holdings are more than 15% of your total holdings. That gives you 35% bonus interest.

The CEL token offers you not only the interest benefits, but also membership, queue priority for loans, CEL for CelPay and premium support.

A lot more to say, but that's for another time

There is a lot more to say about celsius.network, but all of that is of less importance to me. As a result of which I did not search any further. That is an investigation that I might do another time when I have more time. At the moment I am most interested in making more crypto from what I already have, and for I can see for now, celsius seems to be able to help me with that.

I noted it down and keep it in mind

I keep the option in mind because there are more companies that offer these kinds of services. Including Crypto.com. So I will also take a closer look at this one.

I'll keep you posted ... and see you next time.

Posted Using LeoFinance