Rose Celsius CEL, now that you are reading this article, we are going to introduce you to Celsius digital currency. In this article, we intend to first examine the network of this digital currency. After checking the network of this currency, let's talk about the token of this network. In the following, we want to see what features make this token unique and after knowing its features, we will check the price trend of this currency for different years. So, if you are planning to buy or invest in Celsius digital currency, stay with us until the end of the article.
What is Celsius Network?
Celsius Network is a financial technology or Fintech platform that offers savings accounts with interest, borrowing and payment with digital and fiat assets. This model operates based on an economic model that challenges conventional banking models while prioritizing the Celsius community.
The Celsius network returns 80% of its earnings to network users as rewards, while the other 20% funds the development of the project. Digital and fiat currencies form an integrated ecosystem.
As we said, this network is a blockchain-based integrated financial platform that is available to everyone with a smartphone. The Celsius network provides access to financial services and conditions that are not available through conventional institutions with its collection of loan, savings and payment solutions. The task of this network is to ensure financial services while doing the best work for society, not intermediaries.
Celsius network allows users to receive their digital currency to get a loan and earn profit in return. This platform accepts more than 35 currencies including Bitcoin, Ethereum, Litecoin and stablecoins such as GUSD, USDT and DAI.
In this part of the article, we said that one of the products of this network is the Celsius token. In the following, we will get to know this token and its features.
What is Celsius Token (CEL)?
As we said at the beginning of this article, the Celsius token is an exclusive token of the Celsius network. Celsius is a banking and financial service platform for Crypto Signal users.
The CEL token was launched in June 2018 and supports the reward and reward systems of the Celsius network. At first, only 50% of the tokens were issued, 25% of which was given to the founding team and the rest was kept in a smart contract.
The use of this token provides benefits for each Celsius user group. In the following, we will explain these benefits to you.
1. Recipients: By accepting awards in the form of CEL tokens, these people receive a maximum of 30% bonus, more than the deposit of non-CEL tokens.
2. Borrowers: By paying interest with CEL tokens, borrowers will receive up to 30% discount on interest payments.
3. Institutions: By paying interest with CEL tokens, institutions that borrow from Celsius tokens will receive a 30% discount on their interest payments.
After getting to know this token, we will examine the history and founders of this token. In the following content, you will get to know when the token was released and the people who were involved in the establishment of this token.
History and founders of Celsius token CEL
Initially, Celsius was created by people named Alex Mashinsky and Daniel Leon in 2017.
Mashinsky has a long history in Internet development, having worked on VOIP and other technologies since the 1990s.
Daniel Leon, another co-founder, has experience growing early-stage startups. His previous roles include CEO of Atlis Labs and a social program. Celsius now has a large team of key employees, technical developers and consultants with experience in various fields.
Now that we have met the founders of this token, we will examine its features in the following.
What features make Celsius network unique?
By providing financial services with the kind of conditions that other traditional financial institutions do not offer, Celsius intends to do better than banks in its process. These include much higher rates of return than savings and deposits, and the need for much easier and fair loans. And automatic rewards calculated for each user are algorithmic.
The platform also acts as a wallet through the CelPay feature and hosts its own CEL token, which users can use to increase the value of their payments, among other things.
As a for-profit company, Celsius takes into account the payment profit margin and still returns 80% to the users themselves. The company also lends to foundational institutions such as provident funds.
Payments in this network are guaranteed because the loans are backed by assets and each borrower must pay more than 100% of what they owe in foreign currency. The destination borrows to provide.
How many Celsius tokens (CEL) are in circulation?
Celsius CEL performs a number of user-related functions and is freely tradable outside the platform. CEL token offers a maximum of 695,658,161 tokens, 76% of which are in circulation and 24% according to the plan mentioned in the project. It has been locked. CEL token had its first initial offering by an exchange in 2018. The pre-sale and the main sale accounted for 50% of the token, 27% for the treasury, 19% for the team, and 2% for partners and advertisers respectively.
In the following, we will examine the security of this network. In fact, we want to know whether the Celsius network has high security or not.
How is the security of the Celsius network?
Celsius uses a proof-of-stake, or PoS, algorithm for its token, while extensive security trends were outlined in a proprietary presentation in June 2020, which is still available on the company's website.
In other words, it can be said that the Celsius network, with the cooperation of many people, provides the security of the assets that are available in the wallet. In fact, these people insure all the assets that are stored in the Celsius wallet, and this increases the security of this network.
But the point to be considered here is that not all the assets of this platform are inside the hardware wallet, and a large part of these assets are circulating in the lending process.
After you get a complete knowledge of this network and the Celsius token, if you intend to buy this digital currency, it is worthwhile to look at the price trend of this digital currency in different years.
Celsius digital currency price trend
The price of this digital currency at the time of writing this article is equal to 5.54 dollars and the daily trading volume of this Crypto Signal Leaks is equal to 11,400,693 dollars. During the last 24 hours, Celsius has decreased by 1.72%. Currently, this digital currency is ranked 58 on the CoinMarketCap website.
Celsius digital currency wallets
After you have bought the Celsius currency from the exchanges, you must first save this currency. In fact, digital currency wallets allow you to store your desired currency. In this section, we introduced wallets in which you can store your Celsius currency.
- Ledger wallet: This wallet is a hardware wallet that is available in two models: Ledger Nano S and Ledger Nano X.
- Trezor wallet: This wallet is also a hardware wallet in which you can store your Celsius currency.
- KeepKey wallet: This wallet is also a hardware wallet that has great security.
- Coinomi wallet: It is one of the software wallets that supports ERC-20 standard tokens.
- MyEther wallet: It is a web wallet that can store Celsius digital currency and you can use this wallet to store Celsius currency.
How to buy Celsius digital currency?
As mentioned in the articles related to digital currencies, to buy other digital currencies, you should refer to digital currency exchanges. In general, you can buy this currency by referring to exchanges that support this digital currency. Choosing a reliable exchange for buying Crypto VIP Signal is of great importance, in fact, it can be said that an exchange that has a high volume of transactions daily is of particular importance among users.
In this part of the article, we have provided you with a number of exchanges that support the Celsius Indicator Crypto.
1. Liquid exchange: This exchange was established in 2013 and has introduced itself as a global platform for digital currencies that provides financial services based on trade, exchange and blockchain.
2. Uniswap Exchange: It is a protocol for automatic exchange of currencies in Ethereum. This exchange was launched in November 2018. This exchange describes itself as a simple smart contract interface for exchanging ERC-20 tokens.
3. FTX Exchange: This exchange is one of the currency derivatives platforms that supports other cryptocurrencies such as Bitcoin, Ethereum, Litecoin, etc.
4. Hoo Exchange: This exchange describes itself as a blockchain asset trading platform. This exchange strives for an advanced platform to provide quality assets to provide safe Binance Spot Trading Signals services to international users.
5. 1inch Exchange: This exchange is a decentralized exchange that was launched in May 2019. In fact, this platform is a DeFi aggregator and a decentralized exchange with smart routing.
After knowing a number of exchanges that support Celsius currency, you can see a complete list of exchanges that support this digital currency on the CoinMarketCap site.
How to sell Celsius digital currency?
As we said in the section of buying Celsius digital currency, you can also go to exchanges to sell this digital currency. In order to choose a reliable exchange, in addition to the fact that you have to examine the volume of daily transactions of that exchange, the fee of that exchange is important. We suggest you use foreign exchange because they charge less fees than domestic exchanges.
Well, after getting to know how to buy and sell Celsius digital currency, in the following content, we want to check whether this digital currency can be mined. If you are looking for an answer to this question, stay with us.
Is Celsius digital currency mined?
For you to be able to invest in this digital currency, one of the ways is to buy it and the other is to extract this digital currency. In order to see whether the Celsius digital currency can be mined or not, we must first see what algorithm this digital currency follows. As we said at the beginning of the article, Celsius digital currency uses the PoS algorithm in its structure and does not have the ability to be mined. In fact, the requirement for a currency to be mined is that it is based on the PoW algorithm.
Celsius digital currency price future
The historical indicator for Celsius price prediction shows that Celsius digital currency is considered a good investment. According to Walletinvestor website, this digital currency is a long-term and one-year investment.
If you are looking for suitable digital currencies and excellent returns, this digital currency can be considered a good option. In fact, Celsius digital currency can be considered a profitable investment.
The last word of the Celsius CEL currency
In general, it can be said that the Celsius token is provided by the Celsius network. This network is a financial platform based on blockchain. The Celsius Network Token provides benefits to recipients, borrowers, and institutions. We suggest you join Persian Elite's VIP channel so that you can use the powerful signals that are analyzed by the biggest traders in the world on a daily basis.
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