Well,what are you going to do with it? While not new to investing,I am fairly new to crypto. I have been in the space for a year now. My strategy was(and still is) to hold as long as possible and lock in gains along the way. But that’s where it ended for me. Until one day I was enlightened!
Put it to work for passive gains
Once someone starts their journey into crypto,it’s only a matter of time until rabbit holes begin to appear. You could get lost forever in those things haha. That’s me anyways. Eventually I was turned onto Celcius and that’s the subject of todays story
Great rates and weekly payouts
Celcius has great rates. While there are others that pay more,as the APY increases,so does the risk. Well how does it work? Celcius lends your coins out to others who need them and in return,they pay you a percentage of the interest they receive. I know that lending your coins sound scary,but keep in mind that banks do the same thing with your money when you have any interest bearing account. Some great rates currently being offered are:
Matic——9.10%
ETH(up to 100)——5.35%
BTC(Up to 0.25BTC)—-6.2%
most stablecoins—-8.5%
Some places you can choose to earn your rewards in their native token,which can greatly increase the amount of your reward
- There are many other coins they support,so definitely check to see if they have what you’re interested in. I bet they do. As I said,you can find better rates other places. But not all are available in the USA. Some require a lockup period,etc. And I feel Celcius is one of the more secure passive income platforms there are. Celcius also has some great selling points. Among them are:
- No lockup period
- weekly payouts every Monday morning
- when you withdraw from Celcius,they pay your gas fees to move them off
all payouts are APY which means they compound and are automatically added to your bag.
Getting started
Its simple. I downloaded the app and created an account. Once that was finished,I selected the coin I wanted and copied the address. After that you simply paste the address in your wallet to send crypto and boom! ALWAYS DOUBLE CHECK YOUR ADDRESS!!!!!
Once that task was accomplished I just had to wait for the necessary number of confirmations on the blockchain and there it was. Your crypto goes to work right away earning sweet APY. Keep in mind all rewards are paid in kind,meaning you receive a percentage of coin. As the market rises and falls,so does the USD amount of your rewards(or whatever your native currency is)
Withdrawing your crypto
Again as with everything else on Celcius, this is super simple. Select the coin you want and the percentage or amount you want to withdraw. Enter a wallet address and your crypto will arrive there shortly (AGAIN,DOUBLE CHECK THE ADDRESS)
it should be noted that the first time you enter an address,or change a whitelisted address, you will have to wait 24 hours to process the transaction
In summary
celcius is a great app,especially if you’re fairly new to crypto like myself and haven’t fully explored the world of defi. Liquidity pools,I’m not quite ready for you yet ;)
Let me leave you with these highlights of Celcius
- Great rates and competitive
- no lockup period
- withdraw your coins at any time
- you can buy directly from Celcius and save the gas fees(looking at you ERC-20)
- Celcius covers the gas fees on all withdrawals
- simple,easy to use interface that looks great
- A swap feature which allows you to swap crypto at great rate
the option to earn in kind rewards in CEL for even bigger rewards
I encourage you to check it out and if you are interested,please use my referral link
Join Celsius Network using my referral code 113068c979 when signing up and earn $50 in BTC with your first transfer of $400 or more! #UnbankYourself
https://celsiusnetwork.app.link/113068c979 please note that your initial deposit must remain for 30 days for us both to get the BTC reward. Then do whatever ya want with it
This is only my second article in history haha. I appreciate any feedback you would like to leave me. I’m just a regular, working shmuck like the rest of you. So if you enjoyed this post,please feel free to use the tip button. Until then,remember…Don’t let your meat loaf!