The Celsius Wallet will be one of the only online crypto wallets designed to allow members to use coins as collateral to get a loan in dollars, and in the future, to lend their crypto to earn interest on deposited coins (when they’re lent out).
Members will be able to borrow USD against their crypto holdings in their wallet which will be used as collateral. Our goal is to allow anyone who’s in need of cash to easily borrow from the Celsius platform without having to sell their crypto holdings. The ability to take loans in dollars against your cryptocurrency will be available immediately after the Celsius tokens are issued.
In the future, through the Celsius Network, cryptocurrencies deposited by members into their Celsius Wallet will be available on the network for immediate borrowing and shorting. Coins that are lent from member wallets will begin to accrue interest in the form of Celsius Tokens (CEL), allowing members to earn up to 9% annual interest per transaction*.
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