What is Celsius (CEL)?

 What is Celsius (CEL)?

Celsius (CEL)

What is Celsius (CEL)?

Celsius (CEL) is a comprehensive financial and banking platform for cryptocurrency users.

Launched in June 2018, it offers rewards for cryptocurrency deposits. along with services such as loans and wallet payments.

Platform users earn money and interest on their holdings on a regular basis, with CEL being the native token of Celsius that performs a variety of internal functions. including increasing user payouts If used as payment currency

Who was the founder of Celsius?

Celsius was created by Alex Masinsky and Daniel Leon in 2017.

Mashinsky has been working for a long time in the development of the Internet. He worked on Voice Over Internet Protocol (VOIP) in 1990 and other technology jobs since then, but Celsius differs from Masinsky's first corporate venture with seven startups. and 35 patents in his name. which is indicated on the official website of the framework

Co-founder and COO Daniel Leon has firsthand experience growing start-up businesses. He was previously the CEO of Atlis Labs, a real-time user-based social recommendation and search app.

Celsius currently has a core team, technical developers. and consultants with experience in various fields

What makes Celsius unique?

Celsius aims to beat banks by offering financial services in ways that traditional financial institutions cannot provide.

This includes higher yields on savings and deposits, simpler and fairer credit terms. And the rewards are automatically calculated according to the algorithm for each user. Exemption of penalties and bank fees

The platform also acts as a wallet through the CelPay feature and hosts its own CEL tokens which users can leverage to increase the value of their payouts more than ever.

As a for-profit company, Celsius cuts the margin on interest payments. 80% of users are still returned. The company also lends to institutional entities such as hedge funds.

Payment is guaranteed. because the loan has reserve assets And borrowers have to supply more than 100% of what they want to borrow in the destination currency.

How many Celsius (CEL) coins are in circulation?

The native token of Celsius is CEL. It performs many functions related to the user. and can also be traded freely outside the platform

CEL has a maximum supply of 695,658,161 tokens, 76% of which are in circulation and 24% are locked according to the schedule outlined in the project's technical documentation.

CEL had an initial coin offering ( ICO ) in May 2018. Pre-sales and consumer sales accounted for 50% of the token supply, with 27% going to the treasury, 19% to the team and 2% for affiliates and advertising media respectively

CEL is a standard ERC-20 token   on Ethereum.

How secure is the Celsius network?

Celsius use algorithm proof-of-stake updated for tokens While more security steps were outlined in the June 2020 presentation, it remains to be seen on the company's website.

as well as customer-centric wallets The risk of being stolen from attacks such as SIM swapping can occur. If the user himself does not have adequate protection, such as a two-factor authentication system.

Where can you buy Celsius (CEL)?

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• Deriv.com
• Exx.com
• FatBTC
• BitMart
• XM
• Exness
• FBS
• Skrill
• Neteller
• MinerGate

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“General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.”

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