The Celsius Network is a company where you can earn money by investing in crypto. It’s a way you can store your decentralized crypto assets. Alex Mashinsky founded it in 2018.

Headquartered in the United States, Celsius Network allows you to earn up to 17% APY on the crypto that you keep there. You use your credit card or bank account to buy crypto, and then you earn interest the longer you store it there.

Of course, that means you need to be patient. If you plan to sell or trade your crypto quickly, you won’t get the chance to accrue interest at the rates the site or app advertises.

Let’s learn a little more about the interest rates you can earn on your crypto at the Celsius Network.

USD Coin Interest Accounts

You can open up several different accounts with the Celsius Network. For instance, you might go with a USD Coin Interest account. You can earn between 6.86-8.58% APY, which is pretty respectable.

Keep in mind that interest is distributed in the form of cryptocurrency. If you want to convert it back to USD, you can do that.

This is one of the popular account forms if you’re getting started in crypto trading and investing. You can get $40 in free DAI if you open one of these accounts.

Before you get that bonus, though, you must transfer $200 or more in crypto to your Celsius wallet. You must then hold that crypto there for at least 30 days. You must transfer the $200 or more in one transaction.

Getting this type of account will teach you discipline since you have to leave your crypto assets in there for at least one month before you get the bonus. Many individuals who go this route, though, leave their crypto in the account for a lot longer than that. They’re interested in compiling interest from the crypto in the same way you’d get it from putting money in a high-yield savings account with a traditional bank.

Bitcoin Interest Accounts

You also have the option with the Celsius Network of opening a Bitcoin Interest account. Since Bitcoin is one of the most popular crypto forms on the market, it should not surprise you that this account form is also quite popular.

The setup with this account is similar to what you get with the USD Coin Interest account. You can get the $40 bonus in free DAI if you transfer at least $200 in crypto into the wallet attached to the account.

Like with the USD Coin Interest account, you will need to make that $200 minimum transfer in a single transaction and leave the assets in there for at least thirty days.

With the Bitcoin Interest account, you can expect to earn between 6.2-7.75% APY, according to the Celsius Network website.

Other Options

Since there are so many crypto forms now, there are many other account varieties that the Celsius Network offers you that focus on one particular crypto. For instance, you can get a Tether Interest account. That one will bring you back 6.86-8.58% APY.

You can get a Gemini Dollar Interest account. It brings back between 6.86-8.58% interest as well. There’s an Ethereum Interest account that brings back between 5.35-6.69% APY.

With all these options, you get the standard $40 free DAI bonus if you follow those same rules. You need to deposit $200 into the wallet in crypto in one transaction and then sit on it for at least one month.

Should You Get One of These Accounts?

At first glance, it appears there’s no way you can lose by setting up and funding one of these accounts. Whether you want to buy and hold Ethereum, Bitcoin, or one of the many others, you’re accruing interest at the advertised rate, and you can also get the $40 bonus in free DAI after one month.

Keep in mind that even if the site guarantees the $40 bonus and the yearly interest return rate, that does not mean that the crypto form itself that you chose will remain stable. Essentially, that’s the difference between crypto investing and keeping your money in a fiat cash form. You run the risk of that particular crypto form collapsing because of market volatility.

Because of this, you should understand that investing in crypto this way involves unavoidable risk elements. If you acknowledge this and want to forge ahead anyway, the Celsius Network is a suitable place to do it.