Here’s a tip for those who don’t want the volatility that comes with cryptocurrencies. You could buy stablecoins which are cryptocurrencies that are pegged to a stable asset such as gold or the US dollar. They provide stability for your money. Meaning you will not get volatile up or down price swings of your coins.
TUSD, GUSD, USDC, PAX , DAI are examples of stablecoins. Notice the higher interest rates that you receive in the chart above. In contrast, what traditional bank would offer you 8% on your money. I can’t think of one.
Another key point with cryptocurrencies is that they are liquid. You can have access to your money at anytime while earning high interest rates. Whereas, by having money in real estate, CDs, crowdfunding platforms, etc. you won’t be able to access your money as easily.
In contrast, the downside to earn crypto interest with Celsius Network is your money isn’t compounding. Furthermore, if you wanted to withdraw the interest that you earned, the amount will come from your original deposit not the ones earned. For example, say you deposited 1 bitcoin and you have earned 0.05 bitcoin from it. The 0.05 you want to withdraw will be deducted from the 1 bitcoin. So now you’ll be earning interest on 0.95 bitcoin while having a total of 1 bitcoin in your account.
Please check their regulatory disclosure to find out if the Celsius Network app features are available to you.