Celsius Wallet App Offers Interest and Loans for Your Cryptocurrency
With crypto markets rising, hodling seems to be a sound investment strategy once again. If you have coins you want to keep, you can earn some interest on your digital assets thanks to platforms such as Celsius Network. Its mobile wallet allows you to also use the cryptocurrency as collateral in case you need to borrow fiat cash instead of selling crypto.
Also read: How to Find a Crypto-Themed Template for Your Website
Earn 3% Annually on Your BCH Holdings
The Celsius Network wallet is available on Google Play and the App Store. You can deposit a number of major cryptocurrencies including bitcoin cash (BCH). The application tracks the top 10 digital coins in your portfolio and provides access to crypto-related news and statistics.
Users can earn interest on their cryptocurrency holdings, which is paid out weekly. BCH deposits will bring you 3% annually, according to current rates. These are subject to change based on demand and can reach over 7% on some stablecoins.
Celsius Network, whose slogan is “Unbank Yourself,” also offers you to borrow “dollars while they still exist,” using your crypto funds as collateral. At the moment, fiat loans in U.S. currency come at a 4.95% APR.
The app has a feature that allows you to calculate the loan you can receive against your digital assets. The amount is estimated based on your crypto portfolio and how long you’ve been part of the Celsius community.
Do you expect to see more platforms accepting cryptocurrency deposits and offering crypto-backed loans in the future? Share your thoughts in the comments section below.
Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any third party content, goods or services mentioned in this article.
Source: Read Full Article