Over $250M in rewards has been paid out to Celsius customers

The crypto lender revealed it now has more than 420,000 users and pays them the highest rewards in the industry

Crypto lender and rewards platform Celsius announced yesterday that the total amount of crypto yield in today’s value paid out to its customers had surpassed $250 million. Since launching in June 2018, Celsius has quickly grown to have more than 420,000 users worldwide and has paid them more rewards than any other crypto lender.

Through diversified deployment channels and robust crypto lending practices, Celsius manages to generate yield on the crypto it holds and offer its customers a high compounding reward income with access to instant loans of dollars or stablecoins at the lowest rates in the industry.

Celsius puts its incredible growth down to the fact that it is built on the belief that financial services should only do what is most beneficial to their customers. To this end, the platform shares up to 80% of its revenues with its HODLer community. Celsius now manages more than $8 billion worth of crypto assets, making it one of the top holders of any coin worldwide.

CEO of Celsius, Alex Mashinsky, commented, “Celsius was built to act in the best interest of the community, and we have consistently delivered honest, transparent, and rewarding financial services. That’s why Celsius stands alone among the other crypto players in the space, and that’s why Celsius continues to achieve unparalleled success.”

Celsius supports more than 40 different cryptocurrencies which customers can hold in their Celsius wallet to earn weekly rewards at rates of up to 18.5% annual percentage yield. Reward rates are up to 25% higher when users choose to earn their yield in CEL, the native ERC-20 utility token of Celsius.

This news comes just three months after Celsius’ November announcement that it had surpassed $2.2 billion worth of assets held under management (AUM). At that time the company had distributed $80 million in crypto rewards to its community and had a user base of 215,000.

So, in the relatively short time since then, Celsius has managed the achievement of almost doubling its user base and tripling the amount of rewards distributed.