Blockchain
How do Celsius Network Crypto Loans Work
Earning interest in your crypto holdings is definitely a great idea. There are a bunch of platforms available out there that pay you interest just to keep and hold your crypto assets on their platform. One such platform is the Celsius Network.
The platform is known for offering the highest interest rate compared to its competitors. Plus, if you plan to borrow cash against your crypto, Celsius Network has handsome offers for you.
So the question is, how do Celsius Network loans work? Well, this is what I will be explaining about in this article. So here we go:
What is Celsius Network?
Celsius Network is a blockchain based lending platform. It was launched back in 2017, and it issued its native coin CEL in March 2018.
Using the platform, you can borrow crypto or deposit your crypto assets on the platform to be lent out. And in return, you will earn interest or crypto dividends.
You can borrow a loan in cash or CEL. Plus, you can deposit over 40 cryptocurrencies on the platform, which you can use as collateral.
It allows you to earn up to 17% APY when you choose to hold your crypto on the platform. It pays interest every week. Plus, you can earn 25% more rewards if you choose to earn in CEL. For borrowing, the interest rates are as low as 1% APR. More details about lending and borrowing can be found in The Money Monger’s review on Celsius Network.
Earnings/Rewards
As mentioned earlier, Celsius Network allows you to earn up to 17.78% APY. All you have to do is keep your digital assets on the Celsius Network.
The platform allows you to hold more than 50 cryptocurrencies. This includes 10+ Stablecoins, 3 Gold tokens, and some of the most popular cryptocurrencies like BTC, LTC, ADA, BNB, and more.
The best part, there is no minimum balance on which you can earn interest on your crypto holdings. Plus, it pays interest every week on Mondays.
However, the interest, or – what Celsius calls it – rewards, depend on the type of cryptocurrencies you are holding and if you live in the USA or not.
For instance, if you don’t live in the USA, then you can earn rewards under the Celsius’ loyalty tiers which pay reward bonuses based on the percentage of your crypto portfolio.
However, CEL rewards are not available in the USA. As a result, USA citizens won’t be able to enjoy the best rates that Celsius offers.
You can use the onsite calculator to understand how much you could be earning with Celsius Network.
Borrowing
You can take a loan from Celsius Network. It offers loans in cash or CEL. However, if you do need money, you have to borrow cash.
It allows you to use more than 40 coins as collateral. Celsius Network instantly approves your loan application, and there are no credit checks or fees.
Also, when you are borrowing crypto, you can choose how much crypto you want to put up. This is known as the loan to value or LTV ratio.
Celsius Network has three LTV options which are 25%, 33%, and 50%. Also, interest rates start at 1%. But if you are a California resident, then the interest rate is 0% as of now if you choose 25% LTV.
However, to understand better how much you have to pay back, you can use the loan calculator available on the Celsius network website.
How to Borrow Funds with Celsius?
Taking a crypto loan on Celsius Network is fast and easy, as there is no document verification, credit checks, or anything. Instead, it offers you a loan depending on the crypto assets you own. As a result, if you urgently need money and don’t want to sell your crypto assets, Celsius Network works as a good alternative.
To take a loan from the platform, follow the below steps:
- First of all, download and sign up on the Celsius Network mobile app.
- After that, go to the borrow section.
- Choose between Dollars or Stablecoins. If you choose stablecoins, then you have to select a specific stablecoin like USDT that you want to borrow.
- Next, you have to choose collateral. You can use collateral like Bitcoin, USDT, Ethereum, and many more. Also, you will need to deposit your collateral funds to the Celsius Network wallet.
- After that, you have to select your interest rates like 1% APR, 3.95% APR or 7.95% APR.
- Then select the term of your loan between 6 months to 36 months.
- Finally, confirm your loan, and you are good to go.
Final Words:
So that was all for Celsius Network. I hope now you know how Celsius Network loans work and how you can earn interest on your holdings or borrow crypto.
Also, I would like to mention that taking crypto loans can be risky. So make sure to do proper research to avoid any issues.
Blockchain
Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity
Kore Digital Mining Ltd, a UK based Bitcoin mining company, announces that effective 1st May 2024, an additional 14 PH/s mining capacity will be added to its existing infrastructure.
This additional capacity will be provided by a major Bitcoin mining corporation and will be operational until 30th June 2024.
Derek Nisbet, Kore’s Founder & CEO, said – “We are pleased to work with a leading Bitcoin Miner in securing a large amount of mining capacity, for a 2 month trial period. We look forward to hopefully extending this period and engaging more with major mining corporations offering Bitcoin hashing opportunities, in the future.”
This additional 14PH/s Bitcoin mining capacity adds to the existing 2 PH/s currently operational with Kore’s own infrastructure and an additional 4 PH/s is due to be added over the next quarter, totalling 20 PH/s.
Blockchain
After Crossing 100,000 Active Users, Hypeloot.com Announces The Launch of Its Utility Token $HPLT
Hypeloot was established in 2022 and has processed over 50 million bets for over 100.000 Users worldwide, being one of the fastest growing Cryptocurrency casinos, releasing new game modes almost every week and a recent surge in growth which is likely to accelerate.
Hypeloot Originals cross 50 million bets mark
With new game mode additions, the number of daily bets and also bets placed per user is increasing by the day. Hypeloot adds some of the most popular Casino games but is also not afraid to add an innovative touch to the platform by developing new games that are gaining a lot of popularity, for example, the Plinko game with a 100.000X multiplier, making it the first-ever Plinko game with this high of a multiplier which is not only something innovative for the Gambling industry but also a great marketing tool as users always try to chase high multipliers.
Hypeloot .com profit share with $HPLT holders
All $HPLT holders will indirectly profit from the rampant Hypeloot .com growth and its already increasing profitability via daily buyback & burn events. Hypeloot profits will automatically go towards purchasing $HPLT tokens on the open market and burning them right after – on a daily basis!
The Hypeloot $HPLT Token
The $HPLT Presale will start the 1st of February at 15:00 UTC directly on presale.Hypeloot .com, the presale is split into different stages in which the first investors get the cheapest possible price and are also eligible for the Hype NFTs which will be tradable right on token launch. 40% Of the total supply will go towards Presale contributors, rest is split between liquidity, marketing, team, airdrops and more. All Team tokens will be locked and vested on a transparent level.
Fueling The Hypeloot Ecosystem
Hypeloot is one of the only Crypto casinos offering Fiat payment gateways and all major payment providers making it easy for every user. On top of that, Hypeloot also currently offers all major Cryptocurrencies for deposits and withdrawals. All Games are 100% provably fair with an open and transparent guide on how to check each roll, the EOS and Chainlink Blockchain hashes are being used to generate 100% randomness.
Hype NFTs
Hype NFTs are the official NFTs of Hypeloot .com ($HPLT), it will initially only be available to presale contributors, on launch, these NFTs can then be traded, bought, sold and used on Hypeloot .com for free bets, staking pools, increased rakeback and much more. These NFTs are strictly limited and will not be minted more than the given supply.
Hypeloot .com Numbers and Outlook
Hypeloot has generated over $1 Million in revenue in 2023, given that regular slot and live casino games will be added soon, it is expected to have a significant surge in the coming weeks as this is anticipated by a lot of current users, this new addition also open the door to a lot of new user acquisition as well as higher profit per user given all the new game modes.
Blockchain
HIPTHER Announces Major Expansion into Fintech, Blockchain, and AI, Reinforcing Its Position as a Diverse Industry News Leader
Building on its established success in the gambling and iGaming sectors, HIPTHER Agency is excited to announce a significant expansion of its editorial focus into three dynamic industries: fintech, blockchain, and artificial intelligence. This strategic move is part of HIPTHER’s ongoing commitment to providing comprehensive, in-depth coverage across a spectrum of industries, including virtual reality, esports, and official global government releases.
Focused Expansion for a Diverse Audience
The expansion into fintech, blockchain, and AI represents HIPTHER’s dedication to staying at the forefront of technological and financial advancements. By integrating these sectors into the HIPTHER .com platform, the agency offers its audience a rich, diverse content experience, positioning itself as a one-stop destination for insights across these cutting-edge fields.
Enhanced Digital Presence and Accessibility
Complementing this expansion, HIPTHER continues to enhance its digital footprint. The agency’s Android app has already established a strong user base, and with the anticipation of an iOS app in 2024, HIPTHER is set to broaden its reach and accessibility. The agency’s social media channels are also being rebranded to reflect this expanded focus, ensuring a cohesive and comprehensive digital experience.
Unwavering Commitment to Quality and Insight
HIPTHER, known for its high-quality content in the gambling industry, extends this commitment to its new sectors. The agency’s team of experts and seasoned journalists is dedicated to delivering insightful, accurate, and timely information, catering to the needs of a diverse, global audience.
Zoltan Tundik, Co-Founder and Head of Business at HIPTHER, states, “Our expansion into fintech, blockchain, and AI is a natural progression of our mission to provide diverse, in-depth industry news. We’re excited to bring our expertise and quality content to these vibrant sectors, while continuing to serve our existing audiences with the coverage they trust.”
For more information, please visit HIPTHER.com
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