Celsius Network Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Web platform
- Mobile application
- The exchange is not designed for active day trading
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Web platform
- Mobile application
- The exchange is not designed for active day trading
Our Evaluation of Celsius
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Celsius is a high-risk cryptocurrency exchange with the TU Overall Score of 1.94 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Celsius clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker. Celsius ranks 154 among 172 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
Celsius targets investors with different amounts of free capital interested in earning passive income on cryptocurrencies. The platform is focused on developing its native token, offering the best conditions for its holders.
Brief Look at Celsius
Celsius was established in 2017. The mother company is registered in the U.S., and daughter companies were opened in the UK and Lithuania. At the moment, over 1.7 million traders from across the world use Celsius Celsius Network to invest in more than 30 cryptocurrencies. The exchange works with accredited investors and with non-professional traders who want to earn money on cryptocurrencies without actively trading. Celsius offers its clients easy-to-use mobile and web apps with an interface that allows you to complete the majority of actions in a few clicks.
- High security – account protection with a 6-character password and two-factor authentication;
- Minimum deposit - $1;
- Wide selection of available cryptocurrencies;
- High interest rate for holding CEL, the native token of the exchange;
- Bonus promo codes for new users;
- Zero cryptocurrency deposit and withdrawal fees;
- Referral program.
- Limited possibility of instant digital asset exchange;
- Fees on deposits and withdrawals in fiat;
- APY for holding popular cryptocurrencies is lower than competitors.
TU Expert Advice
Financial expert and analyst at Traders Union
Celsius is a platform, where users can earn income by holding various cryptocurrencies, both the most popular coins at the moment (Bitcoin, Ethereum, and Litecoin) and stablecoins, such as DASH and Tether. The exchange does not support direct fiat deposits. However, clients can use the partners of the exchange GEM and Simplex to buy cryptocurrencies for fiat, paying additional intermediary fees.
Celsius Network is a client-oriented company. The availability of regularly updated promo codes testifies to that. In particular, every new client can receive an equivalent of USD 20-5,000 in BTC, CEL and AVAX as a gift. The size of the bonus depends on the minimum amount a trader deposited to his account balance. In order to receive the bonus, you need to maintain a certain account balance for 30-180 days. However, there are restrictions by countries and the validity period of promo codes.
Celsius offers simple mobile apps and the web platform. You can use CelPay wallet to transfer over 10 cryptocurrencies directly to the users of the platform, which you added as friends. Registration at the exchange is very simple and takes no more than 5 minutes. However, passing the KYC procedure is a mandatory step in verifying an account on the Celsius platform.
Celsius Summary
| 💻 Trading platform: | Web platform, mobile apps for Android and iOS |
|---|---|
| 📊 Accounts: | Standard, corporate |
| 💰 Account currency: | Cryptocurrencies (over 30 coins and tokens) |
| 💵 Replenishment / Withdrawal: | Bank transfer, credit cards, ACH transfer, instant payments CelPay |
| 🚀 Minimum deposit: | USD 1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | USD 1 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptocurrencies, stablecoins, Gold Tokens |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | N/A |
| ⭐ Trading features: | The exchange is not designed for active day trading |
| 🎁 Contests and bonuses: | Promo codes |
At the moment, traders use Celsius for earning additional income – the interest for holding cryptocurrencies, including stablecoins. Instant exchange works in the beta version and the list of supported countries is limited.
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Commissions & Fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | From $1 | Charge on withdrawals of fiat currencies |
Traders Union analysts also compared Celsius fees with the fees charged by other crypto exchanges. The table below shows average values of trading fees without taking into account deposit and withdrawal fees.
| Broker | Average commission | Level |
|---|---|---|
|
$1 | |
|
$6 | |
|
$20 |
Investment Options
Celsius crypto exchange offers its clients to earn additional income by holding digital coins in their personal account wallet. Accrual of APY on the balance of free funds is one of the simplest investment solutions for traders interested in earning passive income without wasting time on market analysis. Celsius has a native token (CEL). Holding CEL can bring the highest APY – up to 30%.
Passive income on Celsius
The exchange offers its clients options to earn money without actively trading. Traders who hold uncommitted funds in their Celsius wallet earn an annual percentage. The APY depends on the client’s status – the higher the status the higher the percentage. Traders of Platinum level earn the highest APY. These are accredited (professional) investors who meet at least one of the three requirements: have an equity of at least USD 1 million, a license of 7.65 or 82 series or annual income of over USD 200,000.
APY (as of the time this review was prepared):
On cryptocurrencies — 0.01-14.05% for retail investors. The maximum level for Platinum investors is 18.63%.
On stablecoins — 2.53-7.1% for investors without accreditation, 3.30-9.32% for professional investors.
On Gold Tokens — 5.5% for retail investors, 7.21% for Platinum investors.
Accredited investors can additionally raise the APY to 30% with the loyalty program. It is available to clients who have portfolios with 25% of CEL tokens in them. Also investors with a balance of CEL 25,000 and more can receive an increased APY.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Celsius Partnership Program
Referral program with a USD 50 reward, which is credited in bitcoin.
Both referral and the referred client of Celsius Network receive the reward, but only if they follow two rules. The invited client must make a deposit of at least USD 400 and maintain the balance for 30 days.
User Satisfaction