How to buy Celsius online

Celsius offers loans and savings accounts in cryptocurrency and pays 80% of its earnings back out to its users. Use this guide to find out how it all works and what you should look out for.
By: James Knight
James Knight
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed, rode, and… read more.
Updated: May 27, 2021
Tip: our preferred broker is, eToro: visit & create account

This beginner’s guide introduces you to Celsius and the mechanics behind the platform. If you’re looking to learn more about its CEL token and find a trading platform to get some of your own, we can help with that too.

Compare where to buy Celsius, and open an account

Any of these platforms are a good place to start. We’ve put together a list of the top options based on thorough analysis from our team of experts. If you want more information first, read on to get it.

1
Min. Deposit
$50
Exclusive promotion
Our score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Wire Transfer, Bank Transfer
Full regulations list:
CySEC, FCA
2
Min. Deposit
$10
Exclusive promotion
Our score
9.3
0% Commission Account
Low Spreads
Eco-Account Option
Start Trading
Description:
CedarFX is an eco-conscious broker offering 0% commission trading on 170+ assets, including Forex, Cryptocurrency Pairs, Stocks, Indices and Commodities. With up to 1:500 leverage, no-fee transactions and low spreads, traders can make the most of their funds. CedarFX also offers an Eco Account option to support tree planting and sustainability projects.
Payment Methods
Bitcoin, Credit Card, Debit Card
Full regulations list:
Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice.
3
Min. Deposit
$60
Exclusive promotion
Our score
8.7
Accessible world wide meaning you can buy cryptos no matter where you are
Save on foreign exchange fees by paying in your local currency with over 47 currencies available
Lowest fees on the market so you can get more crypto while paying less
Start Trading
Description:
UK-based Crypto exchange company with FCA license. Global coverage of 180+ countries and unprecedented 48 US states. Buy & sell cryptocurrencies no matter where you are.
Payment Methods
Credit Card, Debit Card, Skrill, Neteller, Bank Transfer, Bitcoin
Full regulations list:
FCA

What is Celsius?

Celsius is a cryptocurrency lending platform available to anyone with a mobile phone. It offers banking services like loans and savings accounts to individual users, and lends coins to big institutions looking to get a foothold in cryptocurrency. Its CEL token is like a rewards scheme, offering better rates of interest to those who hold it.

One of the big selling points of many decentralised finance platforms is that you can still use your coins even as they’re deposited to earn interest. Celsius is no different, and even expands that to offer loans in USD if you post enough crypto coins as collateral.

Celsius has been around since 2017, although it hasn’t all been plain sailing. It’s not always been clear about what it does with the deposits made on the platform, particularly about how much risk they take on to reinvest it and make money. Regardless, it’s distributed more than $8bn worth of loans so far.

How does Celsius work?

Celsius works by requiring all loans made through its platform to be ‘overcollateralised’. That means you have to post more collateral than the value of your loan. Celsius takes that deposit and reinvests it, earning interest which then allows them to pay such high rewards to people who use the platform.

This is where questions about those investments have come in. If they are particularly risky, then the entire platform is vulnerable to external forces like a collapse in the value of another cryptocurrency. Celsius has consistently denied they are exposed like that, but it is worth researching if you plan to use its services.

How to buy CEL online – a step-by-step guide

Step 1. Find an exchange

If you want to own a coin outright, an exchange is the best place to go. Exchanges can vary in the service they offer, particularly in terms of the range of coins available and the fees for withdrawing them, but the best bet is to pick a popular one with a good reputation. A couple of our favourite ones are:

  • Binance: Binance is one of the most widely-used exchanges around. It offers a huge variety of coins and hundreds more pairs, so it’s easy to find any token you want on there. Sign up for Binance now >
  • BitMEX: BitMex is a Bitcoin exchange that offers an intuitive platform as well as an integrated wallet you can use to store your coins. Join BitMEX today >

Step 2. Sign up and fund your account

Before you can start trading, you have to create an account. You’ll be asked to provide contact details and might be asked for a copy of photo ID for verification. Many exchanges now accept deposits in fiat currency (like GBP or EUR), but you may find some that only accept cryptocurrency.

Step 3. Purchase

Search for its ticker symbol, which is CEL, and then select the right pairing to match it with your payment method. If you’re using Bitcoin, for example, then look for the CEL/BTC pair and execute the trade.

Step 4. (Optional) Get a suitable wallet

Now that you have your coins, it’s time to find a place to store them. In an exchange account is a perfectly acceptable place, but if you want more security then a wallet is the ideal solution. Wallets keep your coins so they can only be accessed via a private key that’s unique to you. Some of our favourites are:

  • Guarda Wallet: Guarda is an online wallet you can access through your desktop, web browser, or an app. It integrates with an exchange too, so you can make moves from within your wallet. Get Guarda Wallet now >
  • KeepKey: KeepKey is a hardware wallet that stores your coins on a USB-like device. The coins are kept in cold storage, completely safe and separate from an internet connection even if you connect it to an infected computer. Sign up for KeepKey >
1
Min. Deposit
$1
Exclusive promotion
Our score
10
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Start Trading
Payment Methods:
Cryptocurrencies
Full Regulations:

How to trade Celsius – a step-by-step guide

Step 1. Find a broker

If you’re going to trade a coin, you want a broker that charges low (or no) trading fees. Short term trading means making lots of trades and high fees can drain your capital very quickly.

Celsius isn’t available to trade with many brokers yet. If and when that changes, the likes of eToro and Robinhood will be the first to offer it.

Step 2. Deposit money

You have to use fiat currency to fund your account. Beware of deposit fees, as many brokers charge for all sorts of actions. Trading is one too, of course, as is withdrawals. It’s worth checking the fee structure for all of these before you sign up.

Step 3. Decide how you’d like to trade

If you’ve heard of cryptocurrency trading, it probably means trading CFDs. This is different from actually owning a coin, with CFDs you bet on price moves instead. It lends itself to fast, short-term trading but you should be careful with the difference between the buy and sell price, as these can be another way brokers make money.

Step 4. Start trading 

When you start trading, it might be a good idea to use a demo account. Virtually all brokers offer a version of this and it’s a way of trading with fake money, rather than putting your own funds at risk.

In terms of the trading itself, you have a simple choice to make each time. Do you think the coin is going to go up or down in value? If it’s the former, you should buy it (known as taking a ‘long’ position). Otherwise, sell (‘short’) it.

One other trading strategy it’s worth knowing about is using leverage. Leverage means putting down a deposit so you can make a trade worth many times that amount. This means you can win big but you should be careful, as you’re always liable for the entire value, so it can get very expensive if you lose as well.

1
Min. Deposit
$50
Exclusive promotion
Our score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Wire Transfer, Bank Transfer
Full regulations list:
CySEC, FCA

Still undecided?

If you’ve got this far and still aren’t sure about Celsius, don’t worry. We still have more information to help you, starting with this summary of its pros and cons. After that, there are a few more questions you might find useful.

Pros

  • Lots of demand for decentralised lending
  • Unlock rewards like higher interest rates if you own the CEL coin
  • Celsius reinvests 80% of its profits back into its users pockets

Cons

Finally, here’s three questions before you decide whether to invest in Celsius.

1. Is it a good time to buy Celsius?

It depends on what you want to do with the coins. As the Celsius token unlocks better interest rates, it’s worth grabbing some of its tokens if you’re going to deposit money or borrow on the platform. If you’re looking at it as an investment, there are some different things to think about.

As a long term investor, do you think its price is going to be higher in the future than it is now? Or do you expect a pullback first? Similarly for short term traders, a lot depends on the current price. You can try different analysis techniques to decide if it’s an opportunity right now, or use our very own analysis to help you:

Celsius Network (CEL) price is trading about 115% higher in December after gaining almost 78% in November.  Fundamental analysis: Audit confirms multi-billion assets Celsius Network said it completed an audit which confirmed that the crypto lending platform holds $3.3 billion in digital assets under management (DAUM). The audit,…

2. What problem does Celsius solve, and what are the coin’s investment prospects?

Celsius solves the problem of offering financial services without a bank. Anyone who holds a lot of coins already can use it to earn interest on them, or use them as collateral to borrow other coins or even fiat currency.

A lot of money has been staked and borrowed on Celsius already, which is a good sign for its future prospects as the industry grows. But you should note that there are other lending platforms out there. AAVE and Compound, for example, play a similar role but with fewer questions about their exact business practices. 

This isn’t to say Celsius is a bad investment, rather that you should do your research before buying. Even more so if you’re intending to use their services. Our team is always on top of the latest news, and you can find the most important recent developments right here:

3. Do you want to hold Celsius for the long term?

Ultimately it depends what you want to do with it. If you’re bullish on its prospects or intend to use the service, then the answer is probably yes. For short term traders how long you hold is going to depend on what your charts say. Whichever one you are, here are some final things to consider.

Considerations for a long term investment strategy

Long term investing is the best choice if you think Celsius is only going to go up in the future. If you’re in it for the long haul, the best place to buy Celsius coins in the UK is through an exchange. After that, think about signing up for a wallet to store them.

Considerations for a short term trading strategy

A trading strategy means making lots of trades quickly to take advantage of small price changes. To trade like this, sign up to a broker with low trading fees and think about using techniques like CFD trading and leverage.

James Knight
Financial writer
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed, rode, and ate an ostrich all on… read more.