Earlier this year Celsius announced it had achieved profitability in the wake of market turmoil in both the traditional and blockchain-based financial sectors
Celsius Network, the industry-leading cryptocurrency interest-earning platform, announces it is offering borrowers USD and stable coin loans against their cryptocurrency assets at just 1% APR as part of its COVID-19 relief efforts. In addition to offering the industry’s lowest rates for crypto-backed loans, Celsius has also announced record-breaking growth surpassing over 100,000 active users since launch in mid 2018.
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Celsius attributes its recent exponential growth of new users to its consumer-centric business model and its ability to adapt to unpredictable market conditions, making it the ideal place for HODLers to securely earn, borrow, and pay with their digital assets through any kind of financial climate. After achieving profitability earlier this year in the midst of the COVID-19 outbreak, Celsius lowered its loan minimums in order to better serve its community and has continued to modify its services to meet the needs of its 100k+ users worldwide.
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Borrowers can take advantage of Celsius Network’s 1% APR loans by submitting a 12-month USD or stablecoin loan request for $1,000 or more through the Celsius mobile app at 25% LTV. Qualified borrowers can review additional terms and conditions on the Celsius website. Celsius offers a variety of benefits for borrowers including no credit checks, no origination fees or penalties, comprehensive options and flexible terms, and significant discounts for holders of its native in-app token, CEL.
“Our mission has always been to act in the best interest of the people. Offering unprecedented rates during these unprecedented times is only the latest of our efforts to support the community in the wake of COVID-19,” said Alex Mashinsky, CEO of Celsius Network. “It took us 18 month to get the first 50,000 HODLers and only 6 months to get the next 50,000. They all can get approved for a 1% cash loan today in the Celsius app and pay as little as $10 in total interest for a $1,000 loan.”
