Earning Interest on my Bitcoin With The Celsius Network

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Hey Jessvestors

As you may know by now I'm a sucker for passive income, give me money I don't have to work for any day of the week. The opportunities I have trickling income to me on a daily, weekly or monthly basis the happier I am.

You really cannot beat the power of compound interest and I know it's boring and I know it doesn't satisfy the need for instant gratification but slow and steady wins the race.

@minimining and his big mouth will always have a word to say about my investments and kept complaining about me trying out the Celcius Network which I eventually did.

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The setup

I downloaded the app on my phone and set up an account which was pretty simple, all you needed as an email address and you're in.

You're never asked to do 2FA off the bat nor is it mandatory and me no likey, I want more lays of security so if you are planning to use the app, go to the wallet after sign up and set up your 2FA.

Once you set up your 2FA you will need to do KYC. I know, crypto purists are dying as I mention the term but hey we can't always have it our way. So I completed the KYC and now my wallet is active.

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The payout

I sent some Bitcoin to my wallet because I was going to get a healthy 4.10% interest APR on my deposit. This would be a weekly payout and added to my balance.

You can increase your % payout by opting to get paid in CEL but I thought better of it because I don't have accounts with any of the exchanges that have CEL nor do I trust this token to have much liquity. I prefer to be paid out in the almighty BTC.

What I do like is that your funds are completely liquid and there is no minimum lock-in time or fee, as long as the funds are in one of their custodial wallets you can earn interest on the balance which is great for HODLrs not looking to move their cash anytime soon.

What I don't like however is that the interest rates aren't fixed and it varies from time to time, as I mentioned I thought I was going to get 4.10% but now its dropped to 3.7% interest which isn't a train smash but I would like to be notified when interest rates change.

I would have also preffered if the funds were stored in a smart contract and I had keys to them but sadly custodial wallets are the only option available right now.

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Join up

If you would like Join Celsius Network and support a brother you can use my referral code 175623c5f1 when signing up and earn $10 in BTC with your first deposit of $200 or more

Let's connect

If you liked this post sprinkle it with an upvote or resteem and if you don't already, consider following me @chekohler
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16 comments
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I'm taking advantage of that, as well. But I still prefer Crypto.com. 😊

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I also like crypto.com I just don’t like that they have minimum buy in for earning but hopefully that will change! I reinvested mu crypto.com earnings again this week another 3 month lock up and so we continue

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Two days ago they said the minimums will be removed in a near future.

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That’s awesome news I heard they also want to launch a non custodial wallet and worldwide availablity of their cards! Seems like they’ve got a pretty exciting year ahead

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I like the idea that there is no minimum lock in... will give it a gander.

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It’s only been a few days now but I’m keen to see how it all plays out! I’ve been sitting on Bitcoin and it’s been doing nothing so I though let’s put some of it to work

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I am doing the Same Just with blockfi :) now i have earned just interests for one month and its Not that much but i earn it in btc and ETH so it can be much more in one or two years :)

Posted using Partiko Android

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I checked them out now very cool, how long have you been investing with BlockFi and what your rate of return at the moment on your BTC and ETH

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I deposited one month ago some of my btc (600 Dollars round about) and a little bit ETH . So i Just get interests from one month it was 0.0002 btc and 0.0018 ETH. I know thats nothing ;) it should be 6% interests of btc and 4% of ETH. but i think its much lower because in this time the price decrease i guess i have read this on there q&a. So when the price is stable it should be 6 or 4 percent and when its increase its even more. Exciting to See how it will Work in the next way Up!

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That’s still far more than the bank is willing to give you in APR and most pensions chase a 7% compound yield so I’d say it’s pretty good! Also you getting more of an asset that can increase in value! I’ll check it out and see how much I’m willing to risk

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Okay yeah Just Check it out :) the only but also Not little risk you Take is that you do Not have your private Keys i think its Like when you leave your coins on an Exchange

Posted using Partiko Android

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And you have to consider that when you do Not move your btc or eth you earn interests in your interest lol

Posted using Partiko Android

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Hi @chekohler!

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Another option is to deposit on free bitco.in to earn interest also.

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Yes thanks I have done that too and using crypto.com and I’m now looking at blockfi

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