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Loans...Debt...

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Our current economic system is ruled by debt! Debt, debt and more debt, that's how people are meant to work it! You take out a loan and get into debt, use the money from the loan to buy an asset and make that asset pay for itself. After a while, take another loan with that asset as collateral and reuse the same money again and again and again! This is how it works, without debt the current system can't run... but there is a huge issue with this! Taking debt and leveraging the money can work for a while, but it creates a FOMO brain dead mentality where lots and lots of money goes to people that overleverage themselves, and that's what causes bubbles, bubbles like we had in 2009 in the housing market. Some people like to describe it as taking money from the future, I don't like this way of thinking, I would rather say that each loan in the current debt system that we live in basically steals value from everyone else, from all the savers, mainly because of fractional reserve...the ability to loan out more money than the money the bank has.

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This system might be good for some, especially people with great credit scores, especially people that know how to make it work. But not for everyone! The majority of people don't know how to make it work, the majority of people are so deep in the hole that they can't make it work, they probably never will, and to these people, this system will only make their problems worse and worse. Loans shouldn't be backed up by less value, where one single dollar allows the bank the loan out 30 times more dollars, some times even more! Loans should be backed up by assets! By at least twice the value of the asset! And this is what Celsius does...

Celsius...

![](https://cdn.steemitimages.com/DQmNdz5bbkAVYprBsCF6HK4uoLTgKbhZnYBFr8TBCQj44ve/image.png)

Celsius is one of my favorite crypto companies. Out of everything I've seen in crypto I think Celsius might be one of the first companies to reach 100M users, either Celsius or Brave, but Brave is another whole thing. Celsius's idea is simple, allow depositors to earn interest on their crypto, the company manages all the lending, and anyone can take a loan as long as the collateral for the loan is more than the loan itself. It's simple... and effective! And exactly because of it being simple is why I think Celsius might be one of the first crypto projects to reach mass adoption. To reach 100M users! If we want mass adoption we need easiness to use. Easiness to use means no advance plugin that we need install, no signing tx with complicated hashes, no sending funds to smart contracts that might have a major flaw, etc... easiness to use should be as simple as one single click and it's done! And that's what Celsius provides, just do the KYC send the funds and it's done, interest will be received every Monday. The interest rates change, obviously... it only makes sense for them to change, demand for the coins is something unpredictable and the number of coins deposited also changes the interest rate.

CEL

![](https://cdn.steemitimages.com/DQmZxCbMaXWT9TvLe6hsHjCARHH3sKtRE3TU8zTqynDUHz7/image.png)

Celsius also has their own coin, CEL, an ERC20 token that allows depositors to earn more interest on their coins if they have a certain amount of CEL tokens and if they accept to earn the interest in CEL. CEL also allows for lower interest payments by borrowers. I've been buying up all the CEL that I can, mainly because I see CEL as diversifying my portfolio between all the crypto assets accepted on the app by Celsius. Let me explain... If people can earn more by having certain quantities of CEL and accepting the interest earned on the deposited coins via CEL, than any of the coin's success will bring in more demand for those coins, which equals a higher interest rate for those coins, which equals more interest paid via CEL or, another way to say it, more value stored in CEL. So, any of the coin's success will make CEL's value skyrocket! And, even if some of the coins have no success, it won't matter, because the value would be stored in CEL and their demise wouldn't mean CEL losing value. No need to diversify and hodl many coins, no need to speculate on the future price of the other coins, just buy CEL and HODL, it doesn't matter who wins or loses, good coins will drag CEL along for the ride and bad coins will crumble while watching CEL skyrocket with the other coins. Of course, buying other assets is also important, never put all the eggs in the same basket. ![](https://cdn.steemitimages.com/DQmV6ScQLxRHdzr2auJyKtZf2s67Sn7Qi7t789RVzvUz9CM/image.png) Celsius has many features and more to come:

CelPay

CelPay, is an awesome feature where one can send funds between Celsius wallets quite easily and without fees. I've used this feature in the past since I was able to convince my brother to create an account and he needed some CEL, it was instant, only required one clicked and there were no fees.

API

Celsius's API allows for any business or wallet to integrate Celsius's interest-earning services in their wallet or app. So, this only brings further expansions and more users, some interest-earning services out there are probably using this API and their customers might not even know that they are using Celsius.

Celsius Card

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We still don't have this one, but Alex Mashinsky, the creator of VoIP and CEO of Celsius already showed a sort of cart for Celsius on an AMA, they are still trying to work the bugs out, there is no ETA on it but at least we know they are thinking about it.

Future Ledger integration

Not sure how this is going to work, but it seems that Celsius is integrating their services in the ledger hardware wallet, and it's probably going to be a one-button click solution, which will only further the adoption of Celsius! I'm very excited about this one. All-in-all Celsius is a great project and with the bull market very near us it might be a great idea to diversify into CEL and to deposit some other coins in the app. I've already earned a few bucks on their app, and my referrals have too! [Celsius Website](https://celsius.network/) Use the referral code 179725a507 while doing your account and we will both earn $10 BTC. [Further Reading Material](https://celsius.network/category/press/) [Youtube Channel](https://www.youtube.com/channel/UC3yZY7UVs-zPKBuyNuPinbQ) Images Free Source - [1](https://pixabay.com/pt/gols-configura%C3%A7%C3%A3o-escrit%C3%B3rio-2691265), [2](https://commons.wikimedia.org/wiki/File:Veterinary_symbol.jpg),[3](https://commons.wikimedia.org/wiki/File:Coffee_cup_flat.svg),[4](https://pixabay.com/pt/silhueta-reimpress%C3%A3o-pata-p%C3%A9-tra%C3%A7o-1314467/),[5](https://pixabay.com/pt/impress%C3%A3o-da-pata-patas-imprime-941498/),[6](https://pixabay.com/pt/m%C3%A9dico-medicina-homem-m%C3%A9dica-2025726/), [7](https://pixabay.com/illustrations/debt-loan-credit-money-finance-1500774/), [8](https://pixabay.com/vectors/scrooge-stingy-greed-mean-selfish-28854/), [9](https://pixabay.com/photos/credit-card-payment-credit-card-1730085/), [10](https://pixabay.com/photos/money-finance-mortgage-loan-2696229/), [11](), [12](), [13](), [14](), [15](), [16](), [17](), [18](), [19](), [20](), [21](), [22](), [23](), [24](), [25](), [26](), [27]() - Tradingview snapshots too. ![coffeseparator bigger.png](https://steemitimages.com/DQmbFPcudXwq6sAupKJkyLVMjbZST2wdq7Hjh4NdGFNn85D/coffeseparator%20bigger.png) Question of the day: Do you have any Celsius related questions? Post them below and I'll try to answer them all ![coffeseparator bigger.png](https://steemitimages.com/DQmbFPcudXwq6sAupKJkyLVMjbZST2wdq7Hjh4NdGFNn85D/coffeseparator%20bigger.png) Convert your Bitcoin to EUR/USD : [Coinbase](https://www.coinbase.com/join/59bdc7b8e06d7b00b14b085a) Buy all kinds of Cryptocurrency: [Binance](https://www.binance.com/?ref=17269602) Join Steemmonsters, one of the top dapps on blockchain: [Stemmonsters](https://steemmonsters.com?ref=teutonium) ![coffeseparator bigger.png](https://steemitimages.com/DQmbFPcudXwq6sAupKJkyLVMjbZST2wdq7Hjh4NdGFNn85D/coffeseparator%20bigger.png)

![](https://cdn.steemitimages.com/DQmUgVwo9LnGaun3coZpmJZwAhX9sx9jsmeMdLhfUUG1xrh/image.png) Posted via Steemleo