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.
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 âUnbank Yourself,â also offers you to borrow âdollars while they still exist,â 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.
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Images courtesy of Shutterstock, Celsius Network.
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