What is Celsius (CEL) Celsius (CEL) is an all-in-one banking and financial services platform for cryptocurrency users. Launched in June 2018, it offers cryptocurrency deposit rewards, along with services like loans and wallet-style payments. Platform users receive regular payments and interest on their assets. Celsius's native token, CEL, performs a number of internal functions, including increasing user payments when used as a payment currency. Who are the founders of Celsius? Celsius originally originated as a product of creators Alex Mashinsky and Daniel Leon in 2017. Mashinsky has a long history in the Internet development arena, having worked on Voice Over Internet Protocol (VOIP) in the 1990s and ever since. then to other technologies. Celsius is far from Mashinsky's first corporate venture, with seven startups and 35 patents to his name, says the project's official website. Meanwhile, co-founder and COO Daniel Leon has experience focusing on growing early-stage startups. His previous roles include CEO of Atlis Labs, a social discovery and recommendation app that uses real-time user referrals. Celsius now has a great team of core employees, technical developers and consultants with experience in various fields. What makes Celsius unique? Celsius aims to beat banks at their game by offering financial services on the kind of terms that traditional financial institutions no longer offer. These include much higher rates of return on savings and deposits, much simpler and fairer loan requirements, and automated bonuses calculated algorithmically for each user. Bank-style fines and fees are also exempt. The platform also works as a wallet through its CelPay feature and hosts its own CEL token that users can leverage to increase payment value, among other things. As a for-profit company, Celsius reduces the profit margin on interest payments, while returning 80% to the users themselves. The company also lends to institutional entities such as hedge funds. Payments are assured because loans are asset-backed and any borrower must provide more than 100% of what they borrow in the destination currency. Related Pages: Read more about Electroneum here. Read more about Stellar here. Find the answers to all your questions with Alexandria, CoinMarketCap's dedicated educational resource. How many Celsius (CEL) coins are in circulation? Celsius's native token is CEL. It performs a number of user-related functions and can be freely traded outside of the platform. CEL has a maximum supply of 695,658,161 tokens, of which 76% are in circulation and 24% are locked according to a schedule set out in the project's technical literature. CEL held an Initial Coin Offering (ICO) in May 2018. The presale and crowdsale took 50% of the token supply, with 27% going to the treasury, 19% to the team, and 2%, respectively. , partners and advertisers. CEL is an ERC-20 standard token on Ethereum. How is the Celsius network protected? Celsius uses a modified proof-of-stake algorithm for its token, while broader security procedures were outlined in a dedicated presentation in June 2020, still available on the company's website. As with any customer-facing wallet, the risk of theft from attacks like SIM swapping is present if the users themselves don't have the right protections in place, like two-factor authentication. Where can you buy Celsius (CEL)? CEL is a publicly traded token on major exchanges, with pairs available for cryptocurrencies and stablecoins. As of October 2020, automated market makers (AMMs) held the majority of trading volume, with popular pairs for Bitcoin (BTC) and Wrapped Ether (WETH). New to cryptocurrencies? Read our easy guide to buying Bitcoin or any other cryptocurrency.