How to get Celsius (CEL) coins

To acquire Celsius (CEL) coins, consider options such as buying them on exchanges, earning rewards for holding crypto on the Celsius platform, participating in referral bonuses, and staking CEL tokens within the Celsius ecosystem.

Dec 01, 2024 at 11:21 am

How to Obtain Celsius (CEL) Coins: A Comprehensive Guide to Acquisition Strategies

Understanding Celsius (CEL)

Celsius (CEL) is the native token of the Celsius Network, a leading cryptocurrency lending and borrowing platform. CEL serves multiple functions within the ecosystem, including:

• Governance: Holders can participate in platform governance and vote on proposals.
• Rewards: Users receive rewards for holding CEL and using the platform's services.
• Loan collateral: CEL can be used as collateral to secure loans.
• Staking: Staking CEL earns additional rewards and boosts platform usage benefits.

Acquiring CEL Coins

Multiple avenues are available to acquire CEL coins, each offering distinct advantages and considerations. Here are several strategies to obtain CEL:

1. Purchase on Cryptocurrency Exchanges:

   • Listed on reputable exchanges like Binance, Coinbase, and Kraken.
   • Research fees, trading volumes, and exchange security before choosing a platform.
   • Place a buy order specifying the desired amount and price.
   • Fund the exchange account with sufficient fiat currency or cryptocurrency.

2. Earn through Celsius Network Rewards:

   • Sign up for the Celsius Network platform and deposit cryptocurrencies into supported wallets.
   • Hold cryptocurrencies and earn weekly rewards in CEL.
   • Rewards are proportional to the amount and duration of crypto held.

3. Referral Bonuses:

   • Refer friends to Celsius Network using a unique referral code.
   • When referrals join and deposit cryptocurrencies, you earn bonuses in CEL.
   • Spread the word and maximize referral opportunities.

4. Participate in CEL Airdrops:

   • Celsius Network occasionally distributes CEL tokens to eligible users for free.
   • Follow Celsius Network announcements and participate in airdrop campaigns.
   • Complete the necessary steps to qualify for the airdrops.

5. Staking on Celsius Network:

   • Stake CEL tokens within the Celsius Network ecosystem.
   • Earning enhanced rewards and boosting platform benefits.
   • Contribute to the platform's security and governance.

6. Over-the-Counter (OTC) Trading:

   • Connect with cryptocurrency brokers or individual traders through OTC platforms.
   • Negotiate prices and arrange for CEL transfers directly.
   • Requires due diligence and consideration of counterparty risk.

7. Borrow Against Crypto as Collateral:

   • Use supported cryptocurrencies as collateral to borrow CEL.
   • Pay interest on the borrowed CEL and repay the loan to recover collateral.
   • Requires careful management of risk and loan terms.

8. CEL Mining:

   • Currently, CEL is not mineable, as it was distributed as a pre-mined token during the platform's initial coin offering (ICO).