Celsius (CEL) is a cryptocurrency project offering all banking services in one place for crypto users. Launched in June 2018, CEL promises various rewards to investors in exchange for their cryptocurrency deposits. Users also benefit from advantages such as borrowing against their holdings or making direct payments from their wallets.
Platform users can receive specific payments based on the amount of CEL Coin they own. By consolidating all banking and financial services, Celsius’s own cryptocurrency, CEL, thus enjoys an endless utility.
What is Celsius (CEL)?
Celsius Coin was developed in 2017 by Daniel Leon and Alex Mashinsky but launched in 2018. Celsius offers decentralized banking and financial services. Users can borrow or lend by simply depositing cryptocurrency, offering collateral for loans, and can earn passive income without the hassle of traditional banking procedures.
Celsius, a profit-oriented company, takes a certain share from the CEL rewards it offers to users. However, 80% of the earnings are still paid directly to users in the form of CEL. The company is known to lend to institutional investors like hedge funds and share the revenue with its investors.
To borrow, users need to deposit a certain amount of CEL coin as collateral. This indicates that a large portion of CEL Coin’s supply is locked. CEL, ranking as the 40th largest cryptocurrency by total market value, has a unit price of $2.35 and a total market value of $561 million.
Looking at the CEL graph, it is evident that it particularly peaked in November.
Where to Buy CEL Coin?
You can buy CEL Coin on Bitmart in a few easy steps:
- To buy CEL Coin, you first need to transfer Ethereum (ETH) to Bitmart.
- After completing the deposit, go to the Spot Trading section at the top and click on the Exchange tab.
- In the opened section, click on the ETH pair and then on CEL below.
- Next, select the amount of CEL Coin you want to buy and click on the BUY tab below.
- Your CEL Coin order will thus be placed on the market.
- If someone places a buy order at the price you want, your order will be executed.
- Your funds, i.e., CEL Coins, will then be added to your wallet.
