According to reports, Celsius Network, a lending platform, based on blockchain technology has recently launched CelPay, to facilitate investors of cryptocurrency to conduct transactions in real time, without fees, keys, and much hassle. Celsius, which has been implementing democratized interest income and a lending platform, vehemently believe that financial platforms must be user-friendly and should always put the interests of their clients first, providing them with services that are not accessible via traditional financial systems. The platform’s crypto holders can earn interest by using the Celsius Wallet and can also borrow USD putting up their digital assets as collateral at interest rates that are as low as 5%APR.
Celpay will enable the users to send or receive crypto through Messenger, email, or even social media platforms without having to pay for it. Users will also be able to overcome the general challenges that they have to face with regards to sending digital assets, like expensive fees, delays in transactions or confirmations etc. The app will be supporting ETH, BTC, BCH, CEL, LTC, XRP, and OMG as of now. Users will have to enter the value they would like to send in USD or coins along with the name of the coin. Information about the transfer appears instantly as a link via email, text, social media, etc. The entire project does not require the user to have a wallet to store the cryptocurrencies, and first-timers have to undergo a simple Know-Your-Customer check before they can claim their crypto.
Alex Mashinsky, the CEO of Celsius emphasized again and again that the platform’s main aim is to boost the adoption of cryptocurrency on a global level and added that it was his firm belief that users will find Celpay extremely useful.
“At Celsius, we’re looking to grow the community to more than 100 million crypto users and user-friendly, practical tools like CelPay are needed to achieve this great goal. Crypto is a tool of freedom for all, but that can only be a reality if transferring crypto is just as painless as dealing with fiat. CelPay accomplishes exactly that.”
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