Celsius offers its services to more users, limiting the need for selling digital assets during market turmoil.
Celsius Network, the industry-leading cryptocurrency interest-earning platform, announces it has reduced its minimum loan request to $1,000 making Celsius one of the most accessible crypto-lenders in the space. Since launching its lending platform in 2018, Celsius has continued to lower its loan requirements to support its mission of providing fair and transparent financial services to crypto holders worldwide.
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Celsius members can borrow dollars or stablecoins including USDC, TUSD, USDT, GUSD, and EOS against their digital assets at the lowest rates in the industry. Annual rates begin at 3.47%, and members can receive significant discounts by completing their monthly payments in the platform’s native CEL token.
Celsius Network lowered its loan minimum in the wake of the effects the Coronavirus has had on the market. Lowering the minimum allows more users to take out loans, giving them the security of cash at hand without selling their assets in a down market.
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“Since we opened up our lending business, our goal has been to provide loans that are in the best interest of the borrowers with low-interest rates, flexible terms, no fees, and transparent access to a user-friendly platform. This is more important now than ever, with the down market in traditional and crypto finance causing many families to struggle. Through the Celsius Network app, borrowers around the world are now able to apply for a crypto-backed loan for as little $1,000 with rates as low as 3.47%,” said Alex Mashinsky, CEO of Celsius Network.
