Celsius Network Review 2021

This is a comprehensive review of the Celsius Network. It is for anyone and everyone interested in the cryptocurrency industry and not just in trading. This review of the Celsius Network will cover different aspects of the platform, like its background, features, customer support, security, and more. We will also be discussing how this came into existence and what it intends to accomplish. 

Is Celsius Network safe? What are its pros and cons? Is it good or bad? The answers to these questions are discussed below.

So if you’re fascinated by the cryptocurrency finance industry or are an enthusiast, look no further. This review is for you. 


Celsius Network was founded in 2017 as a London-based fintech company by Alex Mashinsky and Daniel Leon. Today it has a headquarters in New York. The company aims to revolutionize the finance industry by paving the way for economic freedom. 

Conventional banking and finance systems have an abundance of setbacks. Some of the most prominent ones are as follows:

  • There is lesser inclusivity when it comes to who can access their services and grow their wealth. As a result, many people are deprived of this fundamental need to make more money. 
  • They do not put customers first. Their revenue model is devised in such a manner that they put other stakeholders involved in the process before their own customers.
  • As a result, the amount of interest the customers get for their deposits is pretty low and the rate of interest to be paid for loans and mortgages is quite high.
  • Besides these, there is the issue of time. Transactions take days and many times even weeks to process due to several steps involved. 
  • Furthermore, there is also the question of ethics and regulations that are quite unfair to several sections of society. These regulations bar them from making use of the banking and financial service that in the first place was made for them. 

The founders of Celsius Network believed that these challenges could be solved with a financial system based on blockchain and cryptocurrency. A system that is much faster, efficient, inclusive, ethical, and even a better medium for its customers to grow their wealth. 

Today Celsius Network has over 776K users who’ve earned a yield of over $397M in the last 12 months.


How To Register On Celsius Network?

When you register on the Celsius Network, you essentially create a wallet. This wallet will help you perform all sorts of transactions, such as earning interests, borrowing loans, and transferring cryptocurrencies to someone else.

The process for registration is pretty straightforward. Just follow the steps below, and you’ll have yourself a Celsius Network crypto wallet. 

  • Download and install the app on your phone. The app is available for both iOS and Android.
  • You’ll see the Join Celsius button once you open the app. Tap on it.
  • It takes you to a screen where you’re offered four ways to sign up. You can signup with:
    • Google
    • Facebook
    • Twitter
    • Email
  • After this, you’ll have to give your details such as your first name, last name, email ID (based on your signup method). It also asks you to set your password.
  • If someone has referred you, you can enter the referral code, or else you can skip this step.
  • Once this is done, you’ll have to check the Terms & Conditions space. Then tap the Create Wallet button.
  • Now, you have to set a 6-digit PIN for your account and then confirm it by re-typing the same.
  • Your registration is now complete!

However, to perform transactions such as transferring assets and earning interest, you’ll have to complete your KYC. The steps are as follows:

  • Tap on the Verify Profile button.
  • Enter your personal details such as name, date of birth, citizenship, etc.
  • Then type your complete residential address.
  • Now, select the country and state from the dropdown list box.
  • Once this is done, select a document that you’ll use to verify your identity. There are three options available:
    • National ID Card
    • Passport
    • Driver’s License
  • After selecting an option, allow the app to access your camera to click a picture of the selected document.
  • There are a few guidelines such as all four corners of the document should be visible, the text on the document should be readable, etc.
  • If you’re in the USA, you’ll have to enter your social security number (SSN). If not, you can skip this step.
  • Once all this is done, submit the data, and if all documents are correct, your KYC will be completed in a matter of minutes. 

And that’s it! Your account is fully functional, and you can perform any and every kind of transaction. 

How Does It Work?

Celsius Network offers a wide variety of services, including earning rewards, borrowing loans, and paying cryptocurrencies to other people. There are several other programs and services as well that make this a 360-degree crypto finance platform.


Earning rewards on Celsius Network is simple and straightforward. All you need to do is have digital coins in your Celsius Wallet, and on a weekly basis, you’ll receive interest on them. 

These interest rates depend on the digital coin you’ve got in your wallet and vary from about 2.02% to 8.88%. These rates keep changing based on the change in the market value of these assets. 

Alternatively, you can also choose to earn your interests in the form of CEL tokens. When you do so, your interest rates will range from 2.53% to 17.78% based on the coins you have in your wallet. This means that the reward will be up to 30% higher if you choose this option. The increase in the reward percentage depends upon your loyalty level.

CEL Token

CEL is a utility token native to the Celsius Network app and operates on the Ethereum platform. There are seven utilities planned for the token. They are prioritized in line for loans, better dollar loan rates, better-earning rates, better coin loan rates, and premium support.

Thus, your Annual Percentage Yield (APY) ranges from about 2.5% to 18%, much higher than the banks. Your average APY for the same amount of money in a bank would be around 1%.

However, in the USA, the CEL tokens aren’t available, so their interest rates would be a maximum of 8.88% for now.

Loyalty Level

There are four levels of loyalty as follows:

  • Bronze: If the CEL balance in your wallet is 5-10% of your total balance, then you come under this tier. You will get bonus rewards and loan discounts of 5%.
  • Silver: If the CEL balance in your wallet is 10-15% of your total balance, then you come under this tier. You will get bonus rewards and loan discounts of 10%.
  • Gold: If the CEL balance in your wallet is 15-25% of your total balance, then you come under this tier. You will get bonus rewards and loan discounts of 15%.
  • Platinum: If the CEL balance in your wallet is greater than 25% of your total balance, then you come under this tier. You will get bonus rewards and loan discounts of 25%.


The process for borrowing is as simple as the process of earning and is equally advantageous. You can borrow fiat currency or stablecoins in exchange for collateral in the form of digital assets such as Bitcoin. The borrowing rate is a meager 1% APR (Annual Percentage Rate).

All you need to is follow the steps below:

  • Specify the amount you want to borrow in your native fiat currency or stablecoins.
  • The automatic calculator on the app will determine the minimum collateral is required in terms of the digital coin you choose. 
  • Based on your choice of Loan-To-Value (25% / 33% / 50%), the interest rates differ (1% / 6.95% / 8.95%). The higher your collateral, the lower your interest value.
  • You can select the term for which you’re applying. The minimum term is 6 months. 
  • If you choose to pay your interest in CEL tokens, you’ll get a discount of 30% on your interest rate.
  • Once you’ve specified these details, you’ll need to enter your bank details such as name, address, account number, etc.
  • After this, all your details will be shown on the screen for you to check and confirm.
  • Now, you’ll need to read through all the terms and conditions and check the box. You can also download the terms and conditions on your phone in PDF format.
  • Finally, you can click the Request Loan button and verify using your PIN or 2FA.
  • And that’s it, you’ve successfully applied for a loan.

The advantages of this system are as follows:

  • There is no necessity to check your credits since you’ve already provided enough collateral.
  • At the same time, Celsius Network over-collateralized your assets to mitigate the effects of market volatility. 
  • Besides this, anybody can get a loan at such a cheap rate, thus ensuring inclusivity.


Paying or transferring digital coins is a simple three-step process that you can complete using CelPay. All you need to do is choose whom you’re sending the coins to, which coin you’re sending, and the volume. Finally, add a note and send. The transaction will be processed in a matter of seconds or minutes.

Buying Coins

You can buy coins on the platform, and it won’t charge you. The only charge there is will be by the partners who provided the service. 

Simplex charges 3.5% with a minimum of $10 fee. In certain regions such as the UK, the fee will be about 2.99%. The daily and monthly limit is $20,000 and $50,000 respectively. 

For the US, Wyre facilitates ACH transfers and charges a fee of 0.1%. The transfer limits are 5000 USD per week and 20000 USD per month. 

Coinify charges a fee of 0.5% for bank transfers, 2% for an EU credit card, and 3.5% for a non-EU credit card. The limits are 1000 EUR per day for a credit card and 50,000 EUR per day for a bank transfer.


Other Services

A few other services provided by Celsius Network are:

  • Celsius Pro
  • Top 500 CEL Holders Community
  • API Integrations
  • Corporate Onboarding


Celsius Network’s security is ISO 27001 certified. It has several security measures for accounts, such as two-factor authentication, photo or video verification for certain transactions, and biometric signatures. Over and above, the platform doesn’t hold any of the coins since it loans them for interest. So in case of a disaster, if users face any loss of funds, they are insured. 

Customer Support

Celsius Network provides 24/7 customer support for its community. Besides this, it also has a vast support center that addresses user queries. It also shares step-by-step tutorial style guides that can help users navigate the platform.

Furthermore, Celsius Network reviews are pretty good on Trustpilot, with a rating of 4.1 on the review platform. This is commendable and a testament to their impeccable service.

Pros & Cons


  • Reward rates higher than that of banks
  • Interest rates lower than that of banks
  • User-friendly interface and functionalities
  • Impeccable customer support
  • High-level security


  • Minimum number of cryptocurrencies on the platform


Overall, Celsius Network is a pathbreaking platform that is well on its way to disrupt the existing financial system. It is promising and, until now, ticks all the boxes it intended to when the platform began. 

If you’re looking to earn rewards and high interest in your coins, Celsius Network is currently your best choice.

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