About Celsius Network:
The Celsius Network is the first profitable cryptocurrency lending platform, according to its CEO and founder Alex Mashinsky.
According to Mashinsky, the corporation was significant in 2019 on a net income basis and in 2020 on a free cash flow basis.
Mashinsky reveals that his company's scale sheets are much stronger than its competitors, "about 90% of deposits come from retail clients, while about 100% of borrowers are institutions." Citing the problem BitMEX and MakerDAO faced during the most recent market crash, Mashinsky noted:
"BitMEX had to exchange 90% of its clients, even though they were still getting money. We did not have an individual liquidation. They give to local critics, while we grant to organizations. We established on the worst day that our model works better than MakerDAO, better than DeFi, better than the Federal Reserve".
He claimed that all "off-shore" exchanges would "self-destruct", and the smart ones will move to regulated jurisdictions: "that's something Binance is making."
Notwithstanding the latest riot in the crypto markets, Mashinsky remains confident regarding his partnership as an alternative to the conventional economic system:
"With Celsius, I desired to create an option for Wall Street. Banks credit you 24% interest on your credit cards, but they don't pay you anything. I knew that if I created a blockchain lending platform, where most of the income went back to the people, eventually, all the banks' money would flow to Celsius."
For a crypto startup, achieving profitability in fewer than 24 months is an extraordinary success. It also explains that a cryptocurrency business model works based on creating value for the community.
A new platform
Celsius is proud to provide a platform of curated services that have been abandoned by big banks – things like equitable interest, zero fees, and lightning-quick actions. Our purpose is to interrupt the commercial industry, one happy user at a time, and introduce financial freedom through crypto.
- No minimum balance is required.
- Everyone is equal, whether you have five coins or 5 million. Crypto is crypto.
- Earn more with CEL token.
- If you’re holding BTC, you can earn BTC. But if you choose to make in CEL tokens, you can earn even more.
- No fees or penalties
- “Sorry, there’s not enough money in here. You now owe us money.” You’ll never hear them say that.
Stablecoins.live team members had tried Celsius for quite a long time, and we can say it's a leading platform that does what it promises. It's easy to use (one of the most straightforward app to enter into crypto) and gives many new posibilities to anyone holding a smartphone with an internet connection.
It's a way to keep your stablecoins generating passive income and browse among all the different Celsius Network opportunities.