Celsius, the industry-leading yield cryptocurrency platform, announces today that it has reduced its minimum loan amount to $500, making Celsius one of the most accessible crypto-lenders in the space. After lowering its loan minimum to $1,000 earlier this year, this announcement is part of Celsius’s continued effort to allow more people to access fair, transparent, and low-cost financial services. Celsius allows its users to take out loans instantly, without proof of income or credit check, giving them the security of cash-in-hand, without selling their digital assets.
Celsius provides the broadest and comprehensive set of customizable dollar loan options enabling customers to borrow against any of the 40+ cryptocurrencies supported in the Celsius wallet including BTC, ETH, XRP, USDC, and the company’s native CEL token. Annual rates start at 1% APR, and members can receive significant additional discounts by completing their monthly payments in the platform’s native CEL token. Borrowers can also choose to receive funds in fiat or stablecoins allowing customers to expand their financial opportunities.
“It’s more important now than ever to provide more people with the same financial benefits reserved for the ultra-rich,” said Alex Mashinsky, CEO of Celsius. “When you borrow against your assets with Celsius, you can access all the cash you need and still hold on to your crypto, and just like the billionaires, you can defer capital gains taxes by not selling your assets. By reducing the minimum amount of money required to request a loan, we’re enabling millions of more people to access these same financial tools.”
To date, Celsius has served over 200,000 customers from over 150 countries, manages over $1.5 billion in crypto assets, and has secured more than $8 billion in loan origination.