Celsius Network vs Ledn: The Pros, Cons and How they Compare | Bitcompare

Celsius Network pays interest every week.

Celsius Network doesn’t pay interest on fiat currencies, however, they do offer high interest rates on TUSD, TGBP, TAUD, THKD and other stablecoins. This is a great option for people who want the stability of a fiat currency like USD, but the savings interest rates of crypto currency.

Celsius Network offers a loyalty tiered system for earning interest in CEL. The tiers are Bronze, Silver, Gold, and Platinum. For more information on the system, head here.

With traditional banking systems offering an average of <1% APR, how is Celsius Network able to provide a much higher option? The short answer? Banks choose not to.

Banks keep >80% of your 1% interest—a sobering thought indeed. Any bank's capital is generally between 14 and 25%. This is then evenly dispersed amongst shareholders through dividends or share buyback.

Banks don't have to and banks don't want to. When you deposit your fiat currency into a bank, you'll get next to nothing for it. Banks profit both figuratively and literally by giving the individual a low rate.

Competition is lower in the traditional banking system as well, allowing them to get away with this for the past 100 years.

The state of the market, the insistence of coins, and 80% of Celsius' profits being returned to the crypto community all play a role in how weekly interest rates are determined.

Celsius Network interest rates provide a competitive alternative to similar crypto platforms and traditional banking systems. For coins with more demand, Celsius Network remains competitive with their high-interest rates as well.

As stated in the paragraph above, interest rates are calculated by three major contributors.

You can always check the current state of interest rates on celsius.network, the app, or on their respected social media channels. On a week-to-week basis, they remain fairly constant.

Interest rates are subject to change, and Celsius is open and transparent about that fact.

Celsius has 50 dedicated support agents to assist our customers and active community groups across Telegram, Twitter, Reddit and other channels.

When you open a Ledn account, you gain access to a suite of products, permitting you to take the greatest advantage of your digital assets. The platform's savings products provide customers with extra yield. 

Ledn's credit products permit customers to HODL their Bitcoin while still accessing dollars to purchase more crypto holdings.

Ledn Wallet is a segregated wallet address for on-chain, real-time verification, or proof-of-reserves. Ledn offers insurance on user's assets through BitGo Insured Custody. As a result, you can rest assured your assets are safe with Ledn.

What about security? The website relies on multiple layers of protection to keep its users safe.

These include the use of passwords and HTTPS. All data deemed sensitive is encrypted with AES-256 and controlled by a set of strict internal security policies. 

What's more, the platform requires additional two-factor authentication and login actions to verify users' authenticity. Ledn keeps collateral Bitcoin in cold storage offline in vaults rated institutional-grade. These are located throughout Canada.

Ledn doesn't monetize or sell any of its customer data to third parties, which is a significant relief for those using this platform. This approach to privacy means a reduced risk of data breaches, which is fantastic, no matter how you slice it.

What data does Ledn require from users? Only what's needed to meet compliance requirements. That said, the company never overreaches beyond requests for absolutely necessary information.

With a Ledn Savings Account, you can withdraw funds without any penalties at any time. You may also pay off your loan without any early payment penalties. 

Withdrawal requests get processed quickly, and the platform strives to have your Bitcoin in your wallet within 24 to 72 hours.

They store this data on private networks, blocked from public IPs. You may also request that Ledn delete this data at any time, making it an excellent option from a privacy standpoint.