Most
of us have some (if not all) of our money stored and saved in some type
of traditional financial institution. Whether it’s a major corporation,
a local bank, or a credit union, you’re typically not earning more than
1% APR. Celsius Network is here to change that by offering interest
income on stablecoins at rates that give you substantially more bang for
your buck.
What is a stablecoin?
A
stablecoin refers to a specific type of digital asset that pegs its
value to another stable asset, which is usually some form of fiat like
the US dollar. Stablecoins are generally regarded as the most
“practical” use of cryptocurrency in today’s ecosystem because, as its
name suggests, the value of a stablecoin is much more… well, stable.
Unlike highly volatile cryptocurrency assets such as Bitcoin or
Ethereum, which can have a radical change in value over a very short
period of time, stablecoins will rarely fluctuate within one or two
cents of the dollar, making them ideal for everyday use.
For
example, imagine paying for your morning cup of coffee with Bitcoin or
Ethereum. Yesterday you paid the equivalent of $5 for your coffee, but
due to overnight market fluctuations, the value of your highly volatile
BTC or ETH is worth less today than it was yesterday. Paying for that
same cup of coffee will now cost you the equivalent of $6 or $7 today,
and you can’t really predict what it will cost you tomorrow, next week,
and certainly not next year.
Now
imagine you’re paying for that same cup of coffee with a stablecoin
like USDC or GUSD. Because the value is pegged to the dollar, you know
the price of your coffee isn’t going to change from day-to-day or
week-to-week, making stablecoins the most pragmatic use for
cryptocurrency in the world today and could very well be the catalyst
that leads to mass adoption.
Put Your Dollars To Work
There
are currently five different stablecoins supported on the Celsius
Network app including USDC, GUSD, TUSD, PAX, and DAI, all of which are
typically earning around 6.5–7% APR. Yes, you read that correctly; by
converting your cash to a stablecoin pegged to USD, you can earn
significantly greater returns on your dollars in the form of interest
income through Celsius Network. Here’s how…
Let’s
say you have a $1,000 sitting in a savings account earning, on average,
about 0.1% APR. After one year, your initial balance would have earned
exactly $1 for a total balance of $1,001. If you converted that same
$1,000 to a stablecoin and held your coins in a Celsius Network wallet,
your initial $1,000 would have earned about $70 in-kind. And if that
wasn’t enough, Celsius members can now choose to earn interest in CEL tokens at rates up to 25% higher than in-kind interest rates.
Celsius Network Supports 5 USD-pegged Stable Coins:
Coinbase’s USDC
Gemini’s GUSD
Trust Token’s TUSD
Paxos’s PAX
MakerDAO’s DAI
So, you
can settle for earning the standard 0.1% APR through a traditional
institution, or you can put your dollars to work with Celsius Network
and earn a passive income with a massive outcome.
Hear from the Celsius community:
About Celsius Network
Celsius Network
is a democratized interest income and lending platform accessible via a
mobile app. Built on the belief that financial services should only do
what is in the best interests of the community, Celsius is a modern
platform where membership provides access to curated financial services
that are not available through traditional financial institutions.
Crypto holders can earn interest by transferring their coins to their
Celsius Wallet and borrow USD against their crypto collateral at
interest rates as low as 4.95% APR.
Download the Celsius Network app and start earning interest on your crypto today ➡️ celsiusnetwork.app.link
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