Warm Up Your Stack
Founded by serial entrepreneur Alex Machinsky (who created Voice Over IP) in Summer 2017, Celsius Network offers lending and borrowing services for your Bitcoin. With weekly interest payments going out to all who deposit their Bitcoin (and shitcoins), the company has been growing rapidly since they launched.
There are live weekly “Ask Me Anything” shows with the CEO that are broadcast on Celsius YouTube channel where you can hear directly from Alex about developments and latest news. They are also very active on their Twitter page
If you just wanted to earn passively on your Bitcoin, it’s a good way to do it provided you’re happy with the risk of giving your coins to a 3rd party. We are big on Bitcoin security here at TBM but understand the allure of earning sats. Celsius does have really tight security as well and invest heavily in this part of the business. More information about the interest rates on your Bitcoin can be found here.
The other service they offer is allowing you to borrow against your Bitcoin. This next level strategy means you are able to take a loan out with Celsius by using your Bitcoin so you don’t have to ever sell it. More information on their loans can be found here but make sure you are aware of all the risks before taking one!
Finally, Celsius prides itself on charging 0 fees for withdrawals and deposits. They absorb all the costs of these themselves which means that you don’t get hit when you want to move sats around, which is pretty neat!
If you use the referral sign-up, you will need to transfer $400 worth of Bitcoin in, hold it there for 30 days and we both get $50 of Bitcoin – subject to change – more info about Celsius’ referral scheme here here
The scaling of bitcoin beyond the base chain has seen the expansion of layer two protocols, with unique trade-offs designed to facilitate a certain type