While most are focused on Bitcoin, many forget that the popular cryptocurrency is only the tip of the iceberg. Blockchain technology may revolutionize the world in such a way that the entire world may, one day, be tokenized. Yes, you may soon see entire buildings being tokenized. Tokenized real estate is already a thing.
Meanwhile, a new company is trying to tokenize loans and investments. Named Celsius Network, the American firm founded in 2017 is currently offering crypto enthusiasts the ability to loan digital assets as well as invest in them. For investors, it means that you can deposit crypto coins and earn interests on those. You may be surprised by some of the very high rates, that go from 2.5% annually to 8.1%. Users agreeing to receive their interests in the form of Celsius token can go up to a staggering 10.53%.
Members owning between 5 to 10% of their portfolio in CEL tokens get a 20% bonus interest. The ones with over 10% get a 30% bonus interest.
The APR (Annual Percentage Rate) is then paid on a weekly basis. It means that crypto lenders are paid for stacking coins every single Monday.
At the time of writing this article, there are 40,830 members on Celsius Network, with 9,563 depositing members. The total coins deposited is at $345 million.
Watch below an interesting interview of Celsius Network founder and CEO Alex Mashinsky:
By CryptoGirl on 2019-08-11 09:38:38 ET
I didn't know that company, sounds very cool, I'll be checking that. Those rates are sick!