Celsius (CEL) is a cryptocurrency user’s all-in-one banking and financial services platform. It was introduced in June 2018 and provides services such as loans and wallet-style payments, as well as prizes for depositing bitcoin.
Users of the site get paid on a monthly basis and earn interest on their investments. When utilized as a payment currency, Celsius’ native token, CEL, serves a range of internal purposes, including increasing user payments.
What Is Celsius [CEL]?
Celsius aspires to beat banks at their own game by banking services on conditions that conventional banking institutions no longer provide.
These include substantially greater rates of return on savings and deposits, much simpler and more equitable lending conditions, and algorithmically determined automatic incentives for each customer. Penalties are also removed, as are bank-style fees.
Celsius, as a for-profit corporation, takes a cut of profit margins on interest payments, but still returns 80% to consumers. Institutional entities, such as hedge funds, are also lent to by the corporation.
A Step-by-Step Guide to Purchasing Celsius (CEL) Quickly
Step 1: Create An Account
To buy CEL coins, you have to choose an exchange that is trustworthy and reliable. Then create an account on that exchange. We would recommend Binance or Coinbase crypto exchange platforms on which you can exchange your favorite cryptocurrencies. On the signup page, fill in all your personal information and secure your account with a password.
Step 2. Deposit Money
After creating an account, you have to fund it. You can choose any payment method such as credit/debit card, Paypal, bank transfer, etc. We would prefer that you start with a little initial investment.
Step 3: Purchase CEL
When you successfully fund your account with money, you have to buy Bitcoin with fiat money. Then you can convert your BTC to CEL cryptocurrency. Then, purchase a wallet and store your CEL coins in your wallet to secure them and trade them whenever you need them.
How To Purchase Celsius (CEL) Using A Variety Of Methods?
Purchasing Celsius is fairly simple these days. You may pay with cash, a credit card, or even PayPal if you choose. However, you must still take a few steps to complete it – which is why we created this simple guide for you! It is divided into sections; simply follow the one that corresponds to your mode of purchasing.
How to Buy Celsius [CEL] Using a Credit Card or Debit Card?
Your initial step will always be to purchase Bitcoins or Ethereum using a credit card. After that, they can be converted to Celsius.
Take the following steps:
- Purchase Bitcoin or Ethereum from a reputable exchange.
- Transfer Bitcoin or Ethereum to a cryptocurrency exchange that accepts Celsius.
- Finally, convert your Bitcoin or Ethereum into Celsius.
How To Buy Celsius [CEL] Using PayPal?
You can also choose Paypal Method to purchase CEL coins. Millions of people trade cryptocurrencies and altcoins with Paypal. But, there is no method to buy CEL directly with fiat money. You have to make a purchase of Bitcoin or Ethereum from any exchange of your choice. Then, you can transfer your BTC coins to CEL.
How To Buy Celsius [CEL] Using eWallets (Skrill, Neteller)
Just like any other method, you can choose eWallets method (Skrill, Neteller) to acquire altcoin such as CEL. Skrill is a worldwide payment system that allows users to immediately deposit or transfer payments. Skrill serves over 200 nations around the world and allows users to transfer money in over 40 currencies, making it one of the simplest methods to purchase bitcoin (BTC) globally.
How To Buy Celsius [CEL] Using a Bank Wire
The cheapest way to purchase CEL is through a bank transfer method. Millions of people feel comfortable buying cryptocurrencies using the bank transfer method. The transaction fee is very low that everyone can afford. however, it might be time-consuming. If we compare the bank transfer method with other methods, then we would come to know that buying with a credit/debit card is the quickest option but it will be an expensive method.
How to Buy Celsius [CEL] Using Payoneer?
On your Payoneer account, select Buy Bitcoin from the drop-down option to purchase Celsius. Choose Payoneer as your payment method, enter the number of bitcoins you want to buy, choose your desired currency, and then click Find offers. Examine the many Bitcoin providers and select the one that offers you the best price. After that, you may exchange your Bitcoins BTC for CEL.
FAQs
How many CEL coins are there in circulation?
Celsius’s native token is CEL. It has a variety of user-related functionalities and may be traded freely outside of the site. CEL has a total quantity of 695,658,161 tokens, with 76 percent in circulation and 24 percent locked according to a timeline outlined in the project’s technical documentation.
What Security Measures Does the Celsius Network Take?
Celsius’s token is based on a customized proof-of-stake mechanism, and the company’s larger security protocols were explained in a special presentation in June 2020, which is still accessible online. If users do not have proper security in place, such as two-factor authentication, there is a danger of theft through assaults such as SIM-swapping, as with any client-oriented wallet.
