Celsius Crosses New Company – High in BTC Assets
Celsius, being the yield-earning platform, holds more than 100 BTC, according to the published today press release. BTC accounts are about 25% of the total community assets on the platform.
In’s and Out’s of Celsius
In spite of the challenging May for BTC, the company reported that users double the amount of transferring their bitcoins. More than 750 000 users passed the mark of more than 100K BTC, which became a new record for the company.
APY Celsius rewards vary, but about 3.5 – 6,2% for U.S. users, depending on the current BTC amount on their account. International customers getting 4.4 APY for BTC in their accounts. The release of Celsius says that about 2,500 BTC were paid to customers in the crypto rewards.
The firm offers the absence of fees, absence of credit checks, easy options for refinancing, aggressive rates for the ones who borrow in stablecoins or in USD. The lending of crypto lendings also gained more popularity, and they can improve the general liquidity and the discovery of price for different assets.
The competition
Celsius goes on emerging in a competitive lending landscape, trying to battle Nexo, BlockFi, etc. Their aggressive rates keep being a sticking point for their customers. BlockFi offers 0.5 – 5% APY for BTC interest, while Nexo give about 5-8% APY for BTC interest. The rates vary and depend on the fact of whether the customer redeems them with BTC or with the coin of the platform. Nevertheless, token rewards are not available for U.S. clients.