Holding same chains for a long time can hurt hands especially when rusty. Letting go old style banking and having a hundred million user base is on the top priority when it comes to bucket list for Celsius. Dreams of having a small business or a car are buried deep due to interest rates and outrageous charges. Well, Alex Mashinsky CEO and founder of Celsius has came up with just the solution needed. This solution sounds more like an opportunity for crypto-users. Company’s CEO is a major league player in NYC’s startup chain with two of his ventures listed in top ten since 2000. Team is led by people with high experience in different fields. CTO Nuke Goldstein has enormous skills in field of architecture, entrepreneurship and software developing. He’s also black belt in Kempo Karate. With such super skilled team members, the platform looks promising.
The most striking attributes include Celsius Wallet which is main reason for existence of collateral. A place via which users can get loans in USD for their crypto which is unlike most of the existing banks who discourage digital assets. The best part about this transaction is that all the profits from crypto that was lent still belong to users. The Celsius Token (CEL) has been designed as a basic component of Celsius ecosystem. CEL has been serving the purpose of registration, placement of digital currency into wallet, loan and collateral transactions. The features and abilities do not end here. The platform plans to reward higher interest rates in different means real soon. Backed by Ethereum network, the token supply was decided up to 650,000,000. Prices engaged in first quarter included 0.20 and 0.30 USD in pre-token sale and crowd sale respectively.
Celsius economy puts its foundation on securing for both borrowers and lenders. With a Celsius lending protection pool, the coins involved in the transaction will be insured and Celsius wallet is active with reports of cash deposits each day. Working with most repotted financial institutions, the platform goes with KYC to prevent terrorism and money laundering. As per the fees structure on platforms are concerned, the cause Celsius is fighting for makes them have the most competitive prices and it promises a 5% interest to its members annually without any transaction charges involved with company’s transactions.
Building community from ground up, team plans it as a long term mission, Crowdsales arranged by the company lead to a path for crypto-fiat loan connections. Building a network of quality lenders and borrowers and taking over Wall Street. Mr. Mashinsky came built the concept last year during second and third quarter and has been working on it ever since. By the last quarter 2017, the network came into existence with its presale alongside. As of now this year, Wallet prototype and its app have been up in running on the website. Company plans on linking various platforms to increase the trades and have more user base next year. As estimated users are reached, CEO claims to end the current banking systems and have a better technology to take over. With borrow and interest method which will run in soon, people will be more interested to join crypto family.
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