The Celsius Wallet will likely be one of many solely on-line crypto wallets designed to permit members to make use of cash as collateral to get a mortgage in {dollars}, and sooner or later, to lend their crypto to earn curiosity on deposited cash (after they’re lent out).
Crypto Collateral
Members will be capable to borrow USD towards their crypto holdings of their pockets which will likely be used as collateral. Our objective is to permit anybody who’s in want of money to simply borrow from the Celsius platform with out having to promote their crypto holdings. The means to take loans in {dollars} towards your cryptocurrency will likely be accessible instantly after the CEL tokens are issued.
Crypto Interest
In the longer term, by the Celsius Network, cryptocurrencies deposited by members into their Celsius Wallet will likely be accessible on the community for rapid borrowing and shorting. Coins which can be lent from member wallets will start to accrue curiosity within the type of Celsius Degree Tokens (CEL), permitting members to earn as much as 9% annual curiosity per transaction*.