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How I earn 15% p.a. interest rate in Singapore through Celsius Network

The past couple of months have been incredibly brutal to all high yield savings accounts. Banks in Singapore were furiously slashing their interest rates. Many of them dropped to below 1% with many requirements attached.

At these rates, we are almost losing money due to inflation. This has forced me to look into creative ways to grow my hard-earned money.

As a fan of cryptocurrencies and alternate assets, I’ve decided to look into ways to grow a passive income in the space. This was when I discovered Celsius Network.

Source: celsius.network

Celsius’s motto really resonated with me. They are a customer first company who focuses on financial independence for their customers.

This article will be an introduction to the company, its product, as well as my thoughts after using it for a few months.

What is Celsius Network

In simple terms, Celsius Network is a cryptocurrency lending platform. When you deposit your cryptocurrencies, Celsius will take them and lend them out to their institutional customers.

This is actually the exact business model that banks use to make profits! Except in Celsius’s case, they pledge to pay their customers 80% of the revenue. This is how they manage to provide such a high-interest rate.

My interest earned in Celsius after only 2 weeks of deposit.
Source: Celsius app

My very humble interest earnings over a span of 2 weeks.

The interests earned are paid out weekly at the end of every Monday. This also means that your interest is actually compounded weekly as they themselves earn interest as well.

What if I don’t want the volatility of Cryptos

No worries there! Of course, as we all know, cryptocurrencies have insane volatility. We don’t want our savings to be wiped out just in case Bitcoin’s value drops 50% overnight.

You can instead choose to deposit Stablecoins into Celsius! Stablecoins are coins that have their value pegged to the traditional fiat currency. An example is the USDC or TUSD. For every Stablecoin minted, there is an equivalent dollar held in a secure trust.

USDC's very stable value.
Source: Coingecko

Very stable value at US$1.

On Celsius, the interest rates on these Stablecoins are much higher than other coins. This is because the loan demand for these coins is higher.

Celsius Network's interest rates for the coming week.
Source: celsius.network/rates

If you simply put $10,000 worth of USDC, at the end of 20 years, you’ll be sitting on a pot of $180,000!

How do I deposit/purchase coins?

If you already have a cryptocurrency wallet, you can simply send the assets from the wallet over to Celsius’s wallet. You’ll immediately start earning interests on your assets once they arrive at Celsius.


If you’re looking to purchase Stablecoins/Cryptocurrencies in Singapore, the best place I’d recommend is through Crypto.com.

When you purchase USDC from them, the fees are about 1% (spread) + 5 USDC for withdrawal. Be sure to send over in larger amounts as the same withdrawal fee is charged regardless if you send over 1 USDC or 10000 USDC.

USDC cost on crypto.com
Source: Crypto.com app

These fees can be covered by the interest earned in Celsius in 2 months. Make sure that if you do intend to earn Stablecoin interest, do these calculations to ensure that you’re actually making a profit.


Coinbase is another popular option to purchase Cryptocurrencies. However, Coinbase has generally higher purchase fees as compared to Crypto.com.

For Singapore residents, we are also not able to purchase Stablecoins through the platform. So this can be a huge bummer.

However, if you’re from the US, Coinbase is a great way to get some USDC. Coinbase does not charge any fees for purchase. To minimise fees, check out this great article by Boxmining.

Earn a higher interest rate with the Cel Loyalty Program

Celsius has come up with a loyalty program to attract more customers into their system. To join the loyalty program, simply purchase or deposit some Cel tokens into your Celsius account.

Your loyalty level depends on the % of your holdings in Cel.

Celsius Network's additional interest rates as a Cel Token loyalty member.
Source: celsius.network

You will not only receive a higher interest rate on the coins deposited, but you’ll also get lower loan rates.

As a plus, the Cel token has gone through a massive run-up in recent days! If you’ve held Cel tokens since a year ago, your holdings would have increased by 13x. That’s an incredible rate of return for holding the token.

CEL token increase. CEL is the native token for Celsius Network and Singapore residents are able to earn it as their interest.
Source: Coingecko

Based on the tokenomics of the Cel token, I’ll expect it to continue growing in its price. If you’re interested in investing in the token, I’d recommend you take a look at this article by the Celsius Team.


There are definitely risks involved when you deposit money with Celsius.

As it is not a standard bank, the full sum of cryptocurrency deposited is not insured. This means that there is a chance you might lose your money should the company go under.

Celsius is insured by BitGo up to $100 million for assets that are stored in their cold wallets. Take note of the fact that it is only for assets that are stored in their wallets. Most of the funds deposited would be loaned out to others to generate income.

Therefore, I would not advise putting in Celsius more than what you can lose. Even though you might be putting in Stablecoins, a black swan event can certainly wipe out all your deposits.

Rates change weekly

Keep in mind that Celsius’s rates change weekly. You can check out the latest rates on their website. They also send out emails every week whenever there’s an interest rate change.

This is exactly how Celsius sustain their business. They do not over-leverage themselves to pay unsustainably high-interest rates to attract more customers. The interest rate is determined based on the supply and demand of the coins.


I have to say that so far, I have been a very happy customer of Celsius. On top of earning high-interest rates on my money, I also enjoy capital appreciation from holding the Cel Tokens.

I’ve been actively following the development of the project. From the weekly live AMAs to the official Celsian Telegram group. I’m really excited about what the company has to bring in the future. They already have a couple of new features in the pipeline that will definitely drive up the prices of the Cel Token.

If you’re looking for an alternative way to grow your capital, do take a look at Celsius. Remember to always do your due diligence and thorough research before investing in any cryptocurrencies!

If you like my introduction of Celsius and decide to give it a try, sign up through my link to earn $20 worth of Bitcoins when you deposit $200 worth of coins!

2 thoughts on “How I earn 15% p.a. interest rate in Singapore through Celsius Network

  1. Hi, I have never buy cryptocurrency before. Can I check what do I need to do in order to get started? Like do I need some sort of account to buy and hold it? Thanks.

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