Celsius Network Review

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Contributor, Benzinga
May 10, 2022
Overall Rating:
securely through Celsius's website

Celsius Network is a platform that allows you to buy, borrow and pay in more than 30 cryptocurrencies. 

From a user perspective, it acts as something in-between a savings account and an investment portfolio. Users can also receive undercollateralized loans on their crypto assets thanks to a level of centralization. 

The risk that usually comes with trading crypto is lower, however, thanks to Celsius’ unique business model. All deposits are insured up to $100 million and there are no withdrawal limitations, fees or lockup periods so you can cash out whenever you need to, as soon as you need to. 

Overall, Celsius Network offers a lower risk, less complicated way for both beginners and HODLers to buy and hold crypto while earning steady returns on their investments.

Best For
  • Passive income
  • Crypto investors
  • Beginners
  • Rewards of up to 15% APY paid out weekly
  • Easy-to-use mobile platform
  • Available in over 100 countries
  • Instant, fee-free payments using CelPay
  • Great loyalty program
  • Minimal educational resources
  • Limited cryptocurrencies
  • Centralized

Important Update: As of the 13th of June 2022, US-based Celsius has suspended, withdrawals, swaps and transfers between accounts because of 'extreme conditions'. Celsius stated, "we are taking this necessary action for the benefit of our entire community in order to stabilize liquidity and operations while we take steps to preserve and protect assets."

Irrespective of the current situation, one of the things that makes Celsius Network so beginner-friendly is that there’s no account minimum and no hidden fees. Celsius generates its profits through its lending activities, so it has no need to nickel and dime its users. Celsius' platform focuses on crypto lending, earning and borrowing.

With that said, you will have purchasing limits depending on how you buy your crypto in the app. If you’re using Wyre, you have a weekly maximum of $5,000 and a monthly maximum of $20,000 on bank transfers. Coinify has a 50,000 EUR daily maximum on bank transfers and a 1,000 EUR daily maximum on credit card purchases.

FeatureCelsius Network
Minimum Deposit$0
Withdrawal Fee$0
Loan Origination Fee$0
Early Termination Fee$0
Deposit Fee$0

Celsius Network Ease of Use

Overall, the Celsius app is very easy to use. While the onboarding process is simple, there is a bit of delay due to the need for identity verification. The app is available in over 100 countries, each with its own unique laws surrounding cryptocurrency. So, your onboarding and identity verification process will be different depending on which country you’re in. If you're located in the U.S, you'll need to submit your SSN and identity in order to comply with the SEC's know your customer (KYC) regulations.

It is important to note that Celsius is not currently available in North Korea, Sudan, Cuba, or any other country against which the United States, the United Kingdom, or the European Union imposes financial embargoes and sanctions.

Once your account is approved, you'll need to fund it. You can connect your bank account via ACH as an on-off ramp from fiat to crypto.

Once you’re onboarded, the app itself is easy to use. The user interface is intuitive, so you’ll be able to navigate your way around with little guidance. If you need a tutorial, the lending platform has a ton of videos that walk you through each of the features and how to use them.

Your balance and total earnings to date are available at the top of your dashboard, and with a single click you can see a weekly breakdown of your earnings over the entire time you’ve had the app. So, it’s easy to keep track of your earnings, deposits and withdrawal history. 

It’s also easy to start earning interest on your cryptocurrency. Your rewards are calculated every Friday and added to your wallet each Monday. Plus, the day you make your deposit is the day you start earning. If you deposit on a Thursday night, you’ll see your first rewards in your Celsius wallet the following Monday.

Other features like buying additional crypto, withdrawing money, paying friends or taking out a crypto-backed loan are equally simple processes.

For loans, you just choose your loan amount, your interest rate and your payback schedule — and you’re done. The loan is backed by your coin balance, so the amount is limited based on the amount in your wallet. Your coins stay in your wallet and continue earning while you’re paying back the loan so it’s a convenient option for when you need cash but don’t want to sell out of your investments.

The CelPay feature allows you to pay friends and family in crypto as easily and quickly as you would with any other payment app. The person you’re sending crypto to doesn’t need to have a Celsius wallet, either. Overall, it’s a very convenient and easy-to-use platform that makes it simple for users to navigate and use all of the features it offers.

Celsius Crypto Education

Celsius was not built to be a lively trading platform, so it’s a little light on educational material relating to technical or fundamental analysis. While it doesn’t offer a ton of educational resources, it’s still a great learning tool for beginning crypto traders. 

The website does offer some helpful resources to learn about the different features and options in the app. It also has a handy glossary with all the slang and jargon that’s tossed around by crypto traders so you can learn to decode what they’re talking about as you dive deeper into the cryptocurrency space.

Since it’s designed for more passive investing strategies, you can dip your toes in the crypto pool without putting more money on the line than you’re comfortable with and without paying high transaction fees.

Celsius Customer Support

Celsius is going through some growing pains, and as a result, customer support has been a little slower to respond. However, the company is extremely responsive on social media—on Twitter and Reddit, in particular. It is also taking steps to expand its customer service team, so the level of support is expected to improve.

For that reason, we give it 4 stars for its willingness to be proactive on this front where many other startups wait too long to build out their customer service department. In the meantime, we recommend reaching out via its social media channels if you’re not getting the rapid response you need through its customer support channels in the app. 

U.S. Customer Support Number866-463-5669
U.K. Customer Support Number+44 2033 185636
U.S. Customer Support Emailnewjersey@celsius.network 
U.K. Customer Support Emaillondon@celsius.network 
Israel Customer Support Emailtelaviv@celsius.network 

Celsius Crypto Offerings

One of the main benefits of Celsius over other cryptocurrency lending platforms is its variety of cryptocurrency offerings on its platform. Investors can lend or take out loans in several stablecoins, Bitcoin, Ethereum and plenty of altcoins. Interest earned depends on the digital asset provided, and users will be paid interest in the cryptocurrency they provide. For this reason, you should consider the future value of the cryptocurrency you lend out, not just the interest rate offered on the platform.

In the app, you’re able to buy coins through ACH transfer, debit/credit card purchases or SEPA transfer. Currently, Celsius offers more than 30 coins.

It also offers CEL tokens, Celsius’ own currency, although U.S. residents can’t buy these yet. Each Friday, your earnings are calculated based on the interest earned by Celsius, your loyalty tier and the specific cryptocurrencies you’re holding.

Celsius uses a 4-tier loyalty program. Your tier determines your interest rates and other benefits. The 4 loyalty tiers are defined by what percentage of your portfolio is in CEL tokens:

  • Bronze Tier: Less than 5% of your portfolio is in CEL tokens
  • Silver Tier: 5%-10% of your portfolio is in CEL tokens
  • Gold Tier: 10%-15% of your portfolio is in CEL tokens
  • Platinum Tier: 15% or more of your portfolio is in CEL tokens

The extra perks associated with each tier are as follows:

  • Bronze: No bonuses; you earn standard interest and get standard loan interest rates
  • Silver: 10% bonus on your earnings and a 10% discount on loan interest rates
  • Gold: 20% bonus on your earnings and a 10% discount on loan interest rates
  • Platinum: 35% bonus on your earnings and a 30% discount on loan interest rates

Also, all users get a 2% cashback bonus if they send CEL tokens with the CelPay feature in the app. However, you can send any of the available cryptocurrencies using the app — you just don’t get the cashback bonus when you do.

A few notable cryptocurrency interest rates that Celsius offers includes:

  • Polkadot up to 11.87% APY
  • MATIC up to 9.52% APY
  • AVAX up to 7.53% APY

Celsius Network Mobile App

Celsius only offers the mobile app and because of that, all of its development efforts go into making it as intuitive and user-friendly as possible. You can access all the services and features that Celsius has to offer right from your phone.

The home dashboard has a clean, useful display with your total account balance and total earnings at the top along with easy-to-read graphs charting the growth of each cryptocurrency in your wallet.

Celsius vs Competitors

Overall Celsius Crypto Review

Celsius Network is a great platform for beginners who want to start buying crypto without taking on the full risk that comes with this more volatile market. It’s also great for passive investors looking for a safer tool for buying and holding crypto. There are no account minimums, no hidden fees and no complications when you’re ready to withdraw your money. 

You’ll still need to do your own research to learn more about the different currencies and the general landscape of the crypto market, but the app itself is so intuitive that you can start earning right away while you’re learning.

Should You Use Celsius?

If you plan to invest in digital assets over the long-term, Celsius is a great option that allows you to passively grow your portfolio. And, if you already hold cryptocurrencies like Bitcoin, Ethereum, or stablecoins, you might as well be earning interest on your holdings. However, day traders are probably better off using a platform with minimal fees and more data integration. Celsius is best for investors who don't need instant liquidity and are planning on holding their investments for several months.

User Reviews

ochuko evidence

How do you use this product to boost your finances?

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John Alex

How do you use this product to boost your finances?

I give all my money to whatever ponzi scemes


How do you use this product to boost your finances?

a quick investigation found out that Celsius was planning an exit scam so i report for to cfi intelligence an agent called Joan who is a recovery expert personally assisted to make sure my withdrawal was completed here is her email joan.recovery@usa.com


How do you use this product to boost your finances?

New user? $100 free BTC with this code 110902d7fb New to Celsius? Use this code when signing up, and get $100 BTC when you deposit $400 of crypto and HODL it in your account for 30 days. 110902d7fb https://celsiusnetwork.app.link/110902d7fb

Leroy (Lee) Brandon

How do you use this product to boost your finances?

4-5 months Earned $400 plus in rewards so far. I love the Celsius platform.

Rob Nixon

How do you use this product to boost your finances?

Mostly good but the swap feature causes unintended consequences

Caroline Metzler

How do you use this product to boost your finances?

Gas fees don't show before approving transfers. Customer service gives canned response, no help at all!

vic avey

How do you use this product to boost your finances?

Learn how to stake on a good exchange

G Benz

How do you use this product to boost your finances?

I don’t. It is awful.


How do you use this product to boost your finances?

Product seems ok. There rates are falling and I have asked y to o withdraw some coins to another wallet for better interest rates . It has been over a week I made the request and it has not happened

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