Here’s what Celsius says about its methods for securing loans. “…you grant Celsius…the right to…lend…any amount of such Digital assets…without retaining in Celsius’ possession and/or control a like amount of Digital Assets….” Moreover, you may be permitting Celsius to make uncollateralized loans. Crypto loans and deposits can not be FDIC insured. It’s important to note the risk associated with this. In other words, to get a loan creditors must have crypto assets at least 2x the value of the amount they intend to borrow held with Celsius as collateral. The significant difference here is that your resources are digital, so there are some nuances to consider.Ĭelsius lends to corporate institutions and exchanges, securing these loans by requiring at least 50% LTV (loan-to-value) collateral. Like most centralized banks, Celsius and Gemini make money by loaning customers’ assets to corporate and retail borrowers. However, you may be wondering how Celsius and Gemini can offer interest at these percentages. With higher APY across the board, Celsius is the more attractive interest account. Gemini Earn supports the 40+ coins available in the Gemini exchange. In contrast, Gemini Earn offers a fixed rate of 2.05 APY for BTC and ETH and up to 7.40% APY for stablecoins like DAI and GUSD, Gemini’s stablecoin. There are over 40 coins you can earn interest on in Celsius, including MATIC (up to 13.30% APY) and SNX (up to 17.78%APY). This APY can go up to 11.21% if it’s paid in CEL, which is only available for international users. International users paid in CEL: (not available for users in the US)Ĭelsius offers interest on stablecoins like PAX, GUSD, and USDC at up to 8.88%. For illustration, here are Celsius’ offerings on Bitcoin and Ether.īTC : 6.20% APY on the first two BTC, then 3.51% APY One of the most important criteria in our rankings is how much one can earn on a platform like Celsius or Gemini– after all, that’s what a crypto interest account is for, provided your funds are safe.Ĭelsius offers varying APY rates for users in the US, international users, and users who choose to receive their interest in its native token, CEL. Get $50 when depositing $400 or more for 30 days. Gemini Earn– which is the better interest account and why? Celsius vs. It lets Gemini users transfer their crypto into an “Earn” account to earn up to 7.4% APY. Gemini Earn is Gemini’s interest account, released in February 2021. Gemini has over 13.6M users and recently surpassed $30 billion of crypto under its custody. Founded by Tyler and Cameron Winklevoss in 2015. It lets users buy, sell, and store cryptocurrencies. Gemini is a cryptocurrency exchange and custodian available in the US and 50+ countries worldwide. At the time of this writing, Celsius has over $5.3 billion in crypto deposits on its platform. Daniel Leon, Celsius has over 340,000 users worldwide, earning interest at up to 17.78% APY, compounded daily and paid each Monday. Founded in 2017 by Alex Mashinsky, Nuke Goldstein, and S. Gemini Earn and how offer users can earn rewards on their crypto.Ĭelsius is a leading crypto lending and wallet service. Celsius and Gemini Earn are two prominent cryptocurrency interest account products in today’s review, we’ll be comparing Celsius vs.
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