Celsius Network announced on August 15 that they have officially integrated Bitcoin.com into their service. The crypto and lending platform will use the media outlet’s exchange to help streamline their digital currency services.
As reported by Cointelegraph, a press release arrived on Thursday, August 15, to announce Celsius’ integration of Bitcoin.com into their trading platform. Customers can use the Bitcoin.com trading platform to purchase currencies such as Bitcoin, Bitcoin Cash, and Ethereum, among others.
As part of the announcement, Celsius Network CEO Alex Mahinsky also said, “We look forward to cultivating our partnership with Bitcoin.com to provide even greater rewards for our communities.” It’s believed that this could refer to future collaborative projects between the two entities.
The Celsius Network operates as a mobile app where customers can “earn, borrow, and pay on the blockchain.” The service allows customers to hold crypto in their account and earn interest on specific types of cryptocurrency that the platform supports. These include Bitcoin, Litecoin, OMG, DASH, and several other popular digital currencies.
For example, cryptocurrency customers receive as much as 10.53 percent for holding Gemini Dollar (GUSD), TrueUSD (TUSD), and MakerDAO’s DAI (DAI) currencies with the platform, as of this report. Other cryptocurrencies earn interest in different amounts, with those amounts subject to change. As of this report, customers could earn $7.49 in interest per week, or just over $389 per year, for holding one Bitcoin on the Celsius platform.
It was reported at the start of this month that Celsius had received over $300 million in coin deposits over the past 12 months. Additionally, the company had reported completion of over $2 billion in loan origination, per Cointelegraph’s report.
The company also revealed they “paid more in earned BTC and ETH than anyone returning up to 80 percent of its revenue to depositors.” That percentage was compared to Binance BNB which they indicated gave 20 percent of their profits as a buyback to customers and Nexo which gave 30 percent to customers as a dividend payment.
