Celsius: Earn & Borrow Crypto Reviews

by Jacxemi

I would put it in here unless you are 100% sure you can reach someone. My account is not accessible to me I put a request they respond saying well sorry if you don’t remember which email I used. Why because I used Face ID the whole time and when you get the update now I can’t login or recall my info. They tell me I have one account with money and 2 accounts with nothing. Well if you can hear what I was saying to begin with that I was trying to find which email I used. They have no one to talk to and no one to get back to you. This is ridiculous I can’t believe I listed to a friend to move my money here. It’s only been 2 weeks and already this happening. I have left emails and proof of my transfer along with dates and all my emails. Like seriously they have my ID & info. Just let me log on with Face ID again why does this need to be such a problem. Or ask me to revering myself. If not send my funds back to Coinbase. I have been waiting way to long to not have access to my accounts.

by Derpasherpa

First off, I’ve looked into this app a lot before signing up for their service. I think their intentions towards their community and for crypto as a whole is marvelous. However, I’ve come across a few issues with Celsius itself. For one, it continues to log me out, forcing to type my email and password again and again and again and I’m getting tired of it. Sometimes it keeps me logged in, other days it doesn’t. Second, I can’t connect my bank to Gem. Only my debit card, which forces me to have to pay a $5 fee every time I decided to buy any amount of any currency. It would cost less for me to use BlockFi, because I can actually connect my bank AND it doesn’t log me out for no reason. Overall, I think Celsius needs some work, which I could forgive and be patient towards if I didn’t have to pay $5 fees for not being able to connect my bank. I’ll stick with BlockFi until these issues are resolved.

by NW1234

To use this wallet, you have to go through the now standard KYC process. I read these complex, long-winded, legalese TOS & Privacy agreements before consenting. The THIRD PARTY this wallet company contracts with to process and hold private data says they’ll hold the data for a year even after we’ve decided to stop using their service. And there’s even ambiguous reference to that timetable possibly being extended and our data being shared as “needed.” Then they admit that (other?) third party operators will have access to our private data (passports, driver’s licenses...).

No amount of interest is worth the increasingly invasive and risky verification hoops you have to jump through to participate in sectors of the supposedly for-the-people new fintech industry. Who compensates us if/when there’s a data breach or in-house malicious corporate agent? A few years ago, our family suffered the expensive, drawn-out legal/financial costs of having to salvage our identity after a big tech company’s data breach. Never again!

by AaronF1991

I don’t like to write bad reviews, but I created an account with this app two weeks ago. I used my Apple ID to create an account and funded it with quite a bit of money. I ended up upgrading to the iPhone 13 and had to re-login in to this app. For some reason it didn’t recognize my account and now created another account with my same Apple ID. I now have no access to my first account and I have no way to reset my password, get access, or verify myself. this app has no phone support and their email support doesn’t respond. I wish I could give them my SSN or verify myself or use my phone number or anything, but there is no help and it’s an issue in their system. Now I lost out on all my money and can no longer trust their platform. Someone please respond and figure out an alternative. I need to be able to verify myself and reset my password or disconnect it from Apple ID without concern I will lose total access to my account, but there is no one to talk to. Please help.

by The Greatest Stu

The most annoying and difficult to use app I’ve ever experienced. Setting up bank accounts to purchase in Celsius was insanely frustrating but ok, security-got it. Then sent money- through gem? Or Wyre? Both? Not totally sure. First few transactions failed then had to do the bank account verification again to include retaking my personal photo, drivers license phote, etc a million times because it kept having issues uploading… then finally after roughly 10-12 days about half of my transactions went through. Then after a week or two, I wanted to purchase more only to find out I had to upload a picture of my license again- which failed and subsequently cancelled my transactions… then I tried to update my security settings but not sure about an authenticator app? So I need 17 accounts just to operate this thing? I love making money like the next guy but the 8 cents I’ve made over the last few weeks is not worth all this. I’m quite literally over this- maybe a help section or something to explain to newbies what this crap is and how it all ties in? Idk- frustrating to know I can make money but don’t have the time to sit down and do proper research to figure out what all this means and how it works.

by Mikapc82

The this app app itself is fairly well designed in my view; fairly easy to navigate. My criticism lies more in the service itself like frequent changes of reward rates with often little or no warning. Another problem is with withdrawals; sometimes it takes a few minutes and other times it may take 20 hours or more with the only explanation from this app support being “network congestion” which I don’t blindly believe to be true. Another criticism I have pertains to the fact that if you wish to change withdrawal address this app requires a 24 hour wait time. I don’t think this is necessary when you already have 2fa enabled or at the very least allow whitelisting of more then one address at a time. Finally, the reward rates this app offers aren’t that great compared to some other competitors in the space. Also if you’re in the USA you can’t even earn rewards anymore unless you qualify as an “accredited investor”.

by LiveCreate

After creating my account I attempted to complete the identity verification process, however Celsius fails to take a photo of my driver’s license. I tried several different types of lighting, backgrounds and focal lengths. Celsius simply fails to take the picture and there is no apparent button to manually trigger the camera.

try to get support to resolve this was super aggravating. In Celsius , the path to get support Is a bit of effort to find. They’re first hoop involved using an automated chat bot for support and it was a frustratingly useless endeavor that only resulted in ridiculous wild goose chases through the navigation tree to irrelevant q&a’s. Somehow ended up at the website support request form the offered a similarly frustrating experience just trying to submit a support ticket via the web form.

So far my initial experience has been one of disappointment that delivered far less confidence and trust in this app.

by Ineffable500

I have recently decided to try the this app app, and my main feedback, and what I have learned by trying it, is that it is very important in any type of crypto technology to get direct personal experience with it in order to have any depth of understanding. The initial step of learning and reading about something cannot overcome someone’s fear of the new and the unknown until they obtain actual real personal experience with that which is new, that which is unknown, after taking the leap of faith to jump over the void from consideration of new action, into action.

by Vipman5

this app is definitely the future of banking. When you have a CEO who cares more about customers instead of profit....that’s almost non existent. Each month you can see this app get better and better, weekly AMAs, great earn rates, and great security....what more can you ask for. Yes, their customer service can still be better, but at least their upfront about their challenges and are actively trying to fix it. When their credit card comes out this year, it’s going to be awesome. One recommendation, if you add a program to transfer Celsian account to a trusted individual...like a spouse (if something happens to you), that would make this app the complete package. Lifer Celsian here!!!

by Linksonlinks

I have to say this app is the best crypto product I have experienced. Almost been using them for a year now at the recommendation of a co worker. The transparency from alex and the team is unmatched. Their weekly AMA are great if you want to know all the details. They have “proof of community “ which allows users to see breakdowns of all users coins held and weekly payouts. I have never seen a company let you in on all of the inter workings of what’s going on. Once they introduce a good in app buying experience it is game over for the competition. If you are at all in doubt about using them, don’t be. I recommend to all family and friends because I truly believe in the company and the mission.

by EEhhhhhhhhhhhhhhhhhhhhy

So I heard a few of the founder’s interviews and thought he was a pretty standup guy with community as #1. And decided to give this a try. I’ve successfully stored and withdrawn a couple different currencies. And the interest paid every week is legit. I’ve also received a quick response from support. So, 5 stars. But see below.

I think they have the right ideals in mind and 100% hope they succeed. Although, it does seem to still be a work in progress. I think they made some design choices on the side of keeping it simple to allow for better security in the growth phase. As in, in order to change your withdraw address, you have to contact support. Which, increases security simply... but limits functionality. I get it with the pin.. but that could work better (bring up the number pad). Add face/fingerprint. Also, the 2fa is a little scary because my Authenticator app is on my phone so.. maybe some different options. Compound interest would be great but I also understand they can only do what they can afford, and it seems they’re trying really hard to support community.

I hope adoption increases. And please please please don’t let development stagnate. I want this app to succeed!

by Badgame737383883

No other company is as transparent and open about their finances as this app, they have qnas every week where they answer the communities questions, they survived the 2018 bear market, and they have lower liquidation rates for loan collateral. Most companies doing whay this app does will give you one hour to margin call, and then liquidate your account if a crypto falls below a certain set price. This can happen overnight while you’re sleeping giving you no opportunity to make the margin call. this app will email you and give you more than enough time to be able to see the email and know you need to add funds for a margin call so you don’t get liquidated. This is what an honest and fair company should do.

by Levi21274

Initially, I was hesitant to deposit my crypto not knowing much about this app. I deposited small amounts periodically to see how secure the crypto is in their custody. I’m pleased to say that I am very impressed with their withdrawal process. Celsius is for storing your BTC and other crypto while earning interest. I can also take out a loan instead of selling my assets. Their fees are ridiculously low.

Celsius has one of the cleanest crypto wallet UI I’ve come across. Test it out and see for yourself. You don’t have to deposit anything. I didn’t for a few weeks. I just played around with Celsius and it grew on me.

Earning interest on my BTC was the selling point for me. Also, there is no lock-up of 21 days, which puts my mind to rest.

2FA authentication, email confirmation, and a 24 hour lock for new addresses. So even if someone gained access to my account. They would be unable to withdraw for 24 hours after they change my withdrawal address once the address is confirmed by email and authenticating through 2FA.

I am thrilled with their services. Instead of just holding my bitcoin, now I can hold and earn interest.

Thank you team!

by Gio_gomez21

CALIFORNIA RATING
Only thing I wouldn’t recommend is buying from Celsius. They use a third party for purchases so the fee isn’t celsiuss’ fee & you could definitely buy cheaper elsewhere. Other than that, this app is home of the NO FEES They’ve got a customer service number you can call and talk to a real person which was a good experience for me the time I used it. Nice sign up bonuses and referral bonuses along with APY paying out every 7 days. this app is also looking to add swapping (currently in beta) of supported coins (fee free) sometime in the future as of 1/6/22. Also, make sure you prepare to withdrawal your coins early because you must have ONE whitelisted address tied to the coin and takes 24 hours to remove the current address or add a new one. If you’re unprepared, you’re waiting 48 hours to remove and add a new address for withdrawal. this app has been very transparent for me and has proved to have good customer service who can explain any issue at hand. They also send out frequent emails to keep you up to date with this app news. Overall has been a good experience since I started using it in August of 2021 and have recommended friends because of it.

by Rafiabramov24

I use this app for all my savings needs instead of a traditional bank once I learnt how they are always working in my best interest. Earning nearly 11% on my USD stablecoins, and the highest yet safest interest yield on my crypto’s paid out every Monday feels really great. It’s a shame that banks give us a measly average 0.1% APR on our savings accounts, yet turn around and charge an extortionate 25% APR on our credit lines, all the while pocketing random fees. this app charges zero fees for any activity you do on their platform, and with their business lending model, they returns 80% of their revenues to us. the depositors. this app is the needed breath of fresh air for anybody looking to grow their money and I look forward to being their customer for life.

by Joeyfitz88

Hi Alex, and all who contribute to make this app a reality. So I have been hearing raving reviews about this app and this app Wallet! I believe this is the future and we are just the cavemen, this whole Crypto Currency Movement is happening and it’s about to explode before our eyes!! So let me just say, when you download the this app app, they make navigating through the process as simple as can be, unlike some of the others, where I feel like I need a college degree, just to signup! I do not work for or get paid to promote the company this app in any way, shape, or form! I just believe this is the next BIG BIG THING! A whole new market!! Look at the big picture, the stock market has had a “really great past year” with decent gains, but the crypto world has seen BIGGER GAINS than no other! It’s time fellas! Let’s join this app and buy crypto!!

by IDontWantAAnickname

I am fortunate to have already done very thorough DD on this company from many different sources before relying on the reviews here on Celsius store. As of this writing, there are more than 120k on this app network, up over 20k in the 3 weeks ive been using it! Its not available everywhere and yes some features we would all like to see are still in the pipeline. Patience will pay off here. IMO the next release which should directly connect your legacy bank account will no doubt allow me to recommend this to people who are not yet familiar with the crypto landscape. If your regions banking laws permit you to use Celsius, give it a go! Or you could always just keep your hard earned money locked up in Legacy banking which charges you more than they give you back! Keep up the progress this app. I plan to stay for the future.

by C-Sell8

this app is great because of how simple it is to use and understand. Alex Mashinsky the founder of CEL and his team are a financial institution that operates in a similar manner to banks. The only difference is this app has the community’s best interest in mind and they aren’t driven by greed. They have a business model allows all parties to benefit creating a strong base of happy members, myself included.

All you have to do is create an account and get some crypto into it to start earning weekly interest. Since I began a few months back, seeing the weekly payment into my account really gives me a sense of optimism for my financial future... especially as the entire crypto industry grows. this app really gives everyone a fair opportunity to allow your own money to multiply, which is a key to building wealth. I’ve also gotten affiliate rewards for setting up my father and brother with their own accounts!

by Ewidern

I’ve been earning interest for the last couple of months. New to Celsius but have been impressed with the UI and ease of use. Had some initial problems which took a day or two to get addressed, turned out KYC was backed up and I have misspelled my email address. Subsequent tech support questions have been answered quickly by email. Would love to see help and support communication integrated into Celsius . But so far very happy overall with Celsius and the integrity of the company. A competitor has taken several days to respond and explain accreditation issues, pulled my money out of the competitor account because I didn’t feel the same trust. Celcius has frequent and open AMAs (Ask me anything) with the founder taking hard questions. And now moving base from EU to US is additional good news. Hope they don’t deal with regulatory issues here like other crypto companies!

by Steve19821982

I got into this app because it was a way to earn some interest on a little BTC I had. I watched as the company has grown and grown. I live in the USA so it was pretty hard to buy CEL token yet I did get a little bit and it has helped me grow my account so much. But that is just the crypto part of the journey.

The real thing that following them taught me is just how bad the banks treat us. I have been earning 7% to 10% or more on my USD. They show me how they lend out the money and instead of paying it to investors they pay it to depositors.

Talk to your grandparents or just look up what kinds on interest the banks use to pay. It let the last generation grow their wealth. this app is giving us a chance to be part of a new money management system where you are rewarded instead of investors.

by Cameron0208

In the picture, they say, ‘5% annual interest per week’, but in the description, they say ‘5% interest per year’. Those are not the same thing whatsoever. Not only is the term ‘annual interest per week’ extremely misleading, the actual earnings of each phrase is different. This is shady advertising, and I would urge anyone to proceed with caution. They have it in the pictures because they believe that more people will see and look at the picture than read the description.

by I_Reviewer

This project is not 🇺🇸 friendly! Which is rather odd because their CEO is allegedly in NY. You can NOT earn CEL (look it up) if you are an American. That would have been fine had they followed that “compliance issue” from day one.

Also, they hold on to withdrawals for at least 24 hrs. So if you don’t wish to hold for the long run than don’t bother with this app. Hopefully Apple does not censor this review, it is my first hand account.

- CryptoXian

by Matt123!213

Celsius has a wonderful idea, however the process and the constant errors make it near impossible to feel secure with your funds in Celsius . On top of the impossible slow response time for email and issues. Topped off with the Public telegram that is plagued with scammers/spammers. Needs an professional run domain with trusted and verified individuals, and a brand refresh getting rid of the 13 YO theme of animals and things that make it feel worse than bit-connect.

by Benji Ming

TLDR;
3 stars because it works, but still needs work in parts.

The Tracker function is a little strange because it lets you save arbitrary values while also holding actual coins in the wallet. “Manage coins” lets you alter the tracker values, but I was unable to delete the test values I entered. Multiple times it has told me “Oops, it looks like something went wrong." Buggy.

CEL token is available on at least 1 exchange (IDEX) but it’s value is not $0.30… more like $0.05. Seems strange (dishonest?) to display a USD value if its not accurate. Tastes a bit… salty.

The Earn function is also a bit weird because this app is supposed to pay interest in the same token that you are holding in the wallet, right? This part of Celsius starts with a USD estimate for some reason. So, you could earn 4.25% on Bitcoin, but it does NOT display estimated interest in Bitcoin. Why?

All in all, I’m interested in seeing where this app goes but Celsius needs improvements, or potentially a redesign.

by Cryptonite333

I found this project after ICO and everything about it tweaked my interest. Downloaded Celsius as soon as it was released and am very impressed. Looking forward to seeing future updates and development!

by Kaitiezhee

The future of banking is bright. - Celsius is easy to use. I like how it shows me how much interest I could be earning just by hodling my crypto in their wallet. I'm a single mom of 3, any way I can create passive income for my family is a huge win.

by Eslonaker312

Like the way the interface looks, allows for portfolio management to see potential interests. Can't wait for the wallet feature to be added in a future update!

by YoDawg775

Not a hardcore crypto investor but I do love buying a little bitcoin every now and then. Started using this app to get some interest in the form of bitcoin and the ads don’t lie; I receive varying amounts of bitcoin (depends on the value of it) every Monday. One of the biggest features I would love to see is a tracker to see how much initial value you put in and how much it has gained or depreciated in value. That’s really it though.

by Drbrett99

Excellent clear UI with easy to use functions and will change the way banking is used with MOIP like VOIP changed phone use. Can’t wait until the functions are active and interest can be earned by lending my top cryptos!

by Fiveinthemorning

Saw an interview he did for Nasdaq. He was down to earth and straight forward about his vision for this app and cryptocurrency in general. Spoke about his kids and understood the trajectory of how the crypto “baton” has been passed from wave to wave. Cool guy with a stable intelligent energy. I like that in a CEO or developer. So, I picked up the coin and I’m earning interest on it. That simple

by Ganesh9292

I am using this since last 4-5 weeks and getting my stellar interest weekly on every Monday. Only negative is rates are changed from 2.85% to 2.0% in last 4 weeks without any alert or email but it’s not major issue only concern is how rates are calculated is still confusing or probably depends upon crypto demand/lending. Anyway overall I like it.

by Johnhizaa

Great app this app! It is very user friendly and fairly intuitive. I think the biggest integration you want to think about at this point is biometric authentication to access Celsius to look at your accounts. Withdrawals could be further protected with 2FA, but it takes considerably longer to open both apps and jump back and forth to enter the 2FA to simply access Celsius . Keep up the good work fellas!

by Ccmboulder

I approach everything in crypto with a healthy dose of skepticism, so I slowly moved some crypto positions into this app while testing the various functionalities of the platform. Thankfully, deposits and withdrawals are fast, support is responsive, and interest payments are legit and reliable for a few months running now. This is a great app, concept, and company it seems like. The CEO has a proven track record of success and is extremely active in the community / public eye. Rooting for continued success and community development!

by JJsmoketime

I don’t write reviews very often, but I couldn’t stand by on this. I have been looking for crypto companies to finally recognize the value in blockchain distribution. Having the customers benefit along with the company is the new format for business and I’m so happy to have found this app which is leading the wave. Thanks Alex and the this app team for building a great community. Also had a problem with depositing some stellar and the team was able to quickly fix it. Let’s build a better world 😊

by MEFAGDE

I’ve been on this platform for about 6 months. Haven’t had any problems logging in, depositing or withdrawing funds. Very user friendly.