Celsius (CEL) is just like a financial organization, a bank in the world of cryptocurrency.
It was launched in June 2018 and offers services such as loans and wallet-style payments, as well as prizes for depositing cryptocurrency.
Users of the platform 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 payouts.
Even though banks are financial organizations, Celsius aims to get ahead of the banks in the world of financial services.
This is done by providing greater returns on deposits. There are simple and easy conditions for providing loans to each customer. In the case of Celsius, Penalties are also removed.
Through its CelPay feature, the platform also serves as a wallet, and it hosts its own CEL currency, which users may use to improve payout value, among other things.
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.
Celsius’s token is based on a modified proof-of-stake algorithm, and the company’s broader security protocols were explained in a special presentation in June 2020, which is still available on its website.
If security features like two-factor authentication are not turned on there is a danger of scamming and theft. This can be done through swapping SIMs just like with any other wallet.
Price Movement – Celsius
At the time of writing CEL is being traded at the rate of $4.01 with an increase of almost 4% within the last 24 hours.
The low within this tenure was around $3.81 and the high was approximately $4.21. The coin as being on the watchlist of many traders makes it rank all the way up to number 97th. This is according to the latest data released by coinmarketcap.
CEL during the month of May approached its new All-time High around the price of $9.25. The trading volume today on the other hand has increased by almost 180.33%.
Price Prediction – Celsius (CEL)
CEL has been one of the slow gainers in the market. The price is still way low as compared to the all-time high. According to wallet investor, the price of CEL is to reach a value of $2.287in a year. For five year plan, wallet investors think that the price is to reach a value of $1.3. This means that CEL is considered a bad investment.
