I’ve deposited Bitcoin in Celsius Network expecting to earn 8.43% interest. So far, I haven’t received anything close to that. Are they lying? Is it a scam? Is my money safe with them?
Celsius rarely pays out their maximum advertised interest rates.
In order to achieve that, you need to be in their platinum tier, with 15% or more of your portfolio
on Celsius Network in CEL tokens.
In terms of safety, the network has no own insurance for user funds kept in hot wallets.
In the event something happens to user funds, Celsius says it will use its balance sheet to cover damages.
If losses exceed the balance sheet, they will use Eligible Digital Assets to absorb the remaining losses.
I’ve been using Celsius for nearly a year.
I’m super happy with them. Its easy to use. No lock in funds, no minimum, they charge no fees when you transfer out, no work to keep reinvesting, interest paid just starts earning compound interest.
There are different tiers depending on how much Cel you have. I just got paid out in Cel and it compounds petty quickly. But you can also buy CEL to jump up.
Rates are published weekly.
I’ve played with a few DiFi some offer better interest rates but Celsius is my favorite by far. Its easy and just works. I highly recommend.