Celsius Network is a leading Centralized Finance (CeFi) company offering a competitive interest rewards rate that gives you up to 25% more weekly rewards and up to 25% discounts on loans just by holding CEL (CEL is a native token for the platform) in your wallet. This is a lending and borrowing platform where you can earn up to 18.63% APY on deposits, and the reason why this platform stands out is that it gives back up to 80% of its revenue to the community via their weekly rewards in crypto, and users can borrow for as little as 0.75% APR.

 

The platform charges no origination fees and no credit checks and provides 40+ collateral options at the lowest industry rates. When users join, they get rewarded with $110 in free bitcoin. The community has grown to over 1 million users in just 5 years. The founder, Alex Mashinsky, who is also CEO, founded the company in 2017. The company, popularly known for crypto loans, is headquartered in Hoboken, New Jersey, with offices in four countries and operates globally.

 

The company's upcoming features and updates in the year 2022 are fiat on-ramp for 40+ US states, staking (Defi) for US users and swaps for more countries, more asset support, CelsiusX development, and the Celsius Mining IPO. The organization has lent out $8 million to clients and managed about 12 billion in assets. Due to extreme market conditions, the network decided to suspend all withdrawals. They are partnered with Great Bay Distributors, Double Eagle Distributing, Ed F. Davis, and many more. Recently, the network has raised $20.17 million from more than 1,000 investors.