Celsius Network’s 2019 Year In Review

Date: February 2, 2020 / Category: Blog

With the HODLdays upon us and the year coming to a close, it’s time to take a step back to reflect the incredible year we’ve had at Celsius Network! From token utilities to badass ambassadors, here are some of the things we’re CEL-ebrating as we head into the New Year!

Via The Financer

The Business

The Celsius business model is designed to do good for others before doing well for ourselves — the exact opposite of how our current banking system acts. By returning 80% of our revenue to our community, we’re able to provide our customers with the high returns they deserve and the trust and security they need while providing ourselves with enough funding to grow our community, scale our products and services, and continue to build a sustainable financial system that acts in YOUR best interest. As it turns out, people seem to like what we’re doing and where we’re going! Earlier this year, Celsius Network was named the “fastest-growing crypto lender” by Cointelegraph, but we don’t just talk the talk — we walk the walk. Here are some of the incredible milestones we’ve made this year:

We’ve paid out nearly $6 million in interest income to our depositors! Through the year, we’ve added 17 new coins to the Celsius app, which means our community is now able to earn weekly interest income on 24 different cryptocurrencies! And with the average Celsian earning about $300 annually on their crypto, anyone who hasn’t yet joined this interest income party already in progress is missing out on some serious returns.

Via The Financer

Celsius Network currently manages over $450 million in cryptocurrency assets, up from about $64 million in 2018. And while the Celsius app supports 24 different coins with annual rates of up to 10.5%, the majority of the assets held in Celsius are actually in BTC. To date, Celsius holds nearly 23,000 bitcoins from individuals located around the world!

As CoinDesk reported earlier this year, we’ve turned our 2018 ICO into a “Billion-Dollar Lending Business.” How did we do it? Well, for one, we offer the industry’s lowest rates with loans starting at 3.47% APR for USD, stablecoin, and crypto loans. Oh, and did we mention there are no fees? Talk about in your best interest 😉

Over the past year, we’ve also onboarded over 150 institutional clients, contributing to our massive growth in coin loan origination. Institutions represent the demand side of the Celsius model and allow us to generate enough revenue to provide high-interest income to our depositors. “It’s amazing to see so many institutions choosing to work with us, picking up the baton from retail investors and scale their support for cryptocurrencies as the next major asset class. By bringing more pro players into crypto, we are able to keep the supply and demand in balance and provide even greater rewards and services to our depositor community of HODLers.” — Alex Mashinsky, Celsius Network founder and CEO.

Earlier this year, we announced 7 CEL token utilities in the Celsius app and introduced 3 CEL loyalty levels enabling our community to earn up to 30% more interest income and pay up to 30% less on loans. To date, 40% of our depositors are choosing to earn interest income in CEL tokens, which means we’re contributing to the marketplace by purchasing CEL tokens from exchanges each week to pay interest income to our community. You can track our weekly CEL purchases here!

Via The Financer

CelPay is the easiest way to send and receive crypto completely FEE-FREE — no address required! Close to $1 million dollars worth of crypto has been transferred through CelPay, a one-touch utility that allows its users access to major digital currencies all in one place.

The Community

Our mission is to bring the next 100 million users into crypto and show that there is a better approach to banking — one that hands the power back to the people by acting in YOUR best interest. Here’s how much our vibrant and dynamic community of Celsians has grown this year:

If you build it, they will come. We ended 2018 with just over 13,000 Celsius users and are now celebrating over 62,000 Celsius Network community members at the end of 2019! A huge part of our community growth this past year is due to the many strategic partnerships we have formed with others in the industry year including Litecoin, Liquid, Uphold, Monarch and Amon allowing millions of new users to access the benefits of Celsius Network.

Via The Financer

The Celsius app was not only built for the community but also with the community. That’s why this year we invited our users to take an active part in the Celsius mission. Through this program the Celsius Ambassadors can contribute their very own building blocks to the success of Celsius Network.

😎 Wanna learn more about our Ambassador program? Click here to find out/ join!

Celsius went global in 2019! Not only do we have users from over 100 different countries taking advantage of Celsius Network’s rewarding services, but we were also able to visit over 34 cities around the world connecting with hundreds of thousands of individuals at events, meetups, conferences.

Swag is just another way we like to show our appreciation of the Celsius Network community. Want a HODL shirt to show you mean business? HODL socks to keep you warm? Send us a tweet, spread the world, come to an event or even become a Celsius Network Ambassador! We’ll have some swag sent your way in no time.

The Team

This year, we grew from 21 employees to 55 worldwide. Among our notable hires this year, are our Chief Compliance Officer, Jeremy Beaudry, and our Chief Finance Officer, Young Cho. It takes a village to power the Celsius Network engine, and we’re grateful to have the most talented and passionate team in crypto working hard day in and day out to revolutionize the way we bank.

Office Locations: New York City, Hoboken, Atlanta, San Francisco, Tel Aviv, London, Philippines, Belgrade, Dallas, India, and North Dakota

10 Countries our staff is originally FROM: Serbia, Philippines, Africa, USA, Canada, Israel, Australia, England, India, Ukraine, Venezuela

11 Languages spoken by our staff include: English, Arabic, Hebrew, Spanish, Serbian, Africans, Russian, Filipino, French, Hindi & Italian.

🍕 1,798 pizza slices devoured

☕️ 207,645 milligrams of caffeine consumed

✏️ 112 Dry erase markers lost

📹 33,567 Minutes spent on video call meetings (thanks VoIP!)

As a decentralized team, we spend a lot of time hanging out… if Google Hangouts is considered hanging out ;). And believe it or not, only 122 minutes were spent listening to Alex Mashinsky explain how he created VoIP!

The Year Ahead

In 2020, Celsius Network will become your one-stop crypto HODLing shop! You’ll soon be able to purchase your favorite coins directly from your Celsius wallet with fiat on and off-ramps coming to your Celsius app. Speaking of app, we’ll also be putting the “app” in the Big Apple in early 2020! That’s right, Celsius services are soon coming to New York State! We haven’t forgotten about our friends in Washington State, either, and we’ll be thrilled to be bringing Celsius to the Pacific NorthWest!

Withdrawals are about to get… interesting. You asked, and we heard! Users will soon be able to withdraw their earned interest before withdrawing their principal interest-earning assets.

Non-custodial loan solutions… that’s really all we can say about that, but stay tuned 😉

About Celsius

Celsius Network addresses the financial needs of today’s consumers worldwide through a blockchain-based interest income and lending platform accessible via a mobile app. Built on the belief that financial services should only do what is in the best interests of the depositor community, Celsius is a modern platform where membership provides access to curated financial services that are not available through traditional financial institutions. Crypto holders can earn interest by transferring their coins to their Celsius Wallet and borrow USD against their crypto collateral at interest rates as low as 4.95% APR. For additional information please visit www.celsius.network

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