Via Celsius, users may also borrow stablecoins (a minimum of $500) or USD (a minimum of $25,000) using their digital assets as collateral. Annual yield rates differ depending on the cryptocurrency.
#Alex mashinsky celsius how to#
Mashinsky points out that the biggest advantage of CeFi is that it is more intuitive and doesn’t require users to know how to “manage keys, who to trust, when to deploy, and when to exit.”Ĭelsius supports both DeFi and non-DeFi yield sources, which allows it to provide its customers with higher yield rates.Ĭelsius supports several dozen cryptocurrencies for yield generation, including Bitcoin, Ethereum, MATIC (the token of Sandeep Nailwal’s Polygon protocol), USDC, BUSD, DOT (the token of Gavin Wood’s Polkadot protocol), AAVE (the token of Stani Kulechov’s Aave protocol), XRP, LINK (the token of Sergey Nazarov’s Chainlink network), and BAT (used by the Brave browserto reward users and publishers). What does that mean? For one, it allows us to act in our community’s best interest by deploying assets to institutions, retail, exchanges and DeFi and thus offering the highest rates, supporting the most asset types, and paying more interest on more tokens and coins for longer than anyone else. Unlike most other lenders Celsius straddles both realms of Centralized (CeFi) and Decentralized Finance (DeFi). On his Medium blog, Mashinsky writes that Celsius combines the benefits of both centralized (CeFi) and decentralized finance (DeFi). It allows users to borrow digital assets, deposit their cryptocurrency on the platform in exchange for rewards, and make fast crypto transfers through the Celsius app. Celsius is a lending platform built on blockchain technology.
Among other things, he didn’t see potential in Google in 1998 and ICQ in 1996.Īlex Mashinsky founded Celsius Network in February 2017. Mashinsky’s website also lists his failed ventures and missed opportunities. In 2005, Mashinsky founded GroundLink – one of the first on-demand ridesharing apps in the world. In 2003, Mashinsky founded Transit Wireless – a wireless coverage provider for the New York City subway system. The VoIP technology invented at Arbinet would go on to connect people via the Internet worldwide.įorbes writes that Arbinet went public in 2004 with valuation of over $1 billion. According to Mashinsky’s website, Arbinet was an early VoIP pioneer and market leader. This realization led to telecom clearinghouse company Arbinet, founded by Mashinsky in January 1995, according to his LinkedIn page. He realized that it would be more beneficial for these companies to instead build small networks and buy extra capacity when necessary. After working in the industry for some time, Mashinsky noticed that telecom companies were heavily investing in high-capacity networks despite a global surplus in network capacity. In the United States, Mashinsky undertook multiple ventures, including brokering sodium cyanide excavated in China for use by gold miners.Īfter his cyanide business collapsed, Mashinsky decided to move into telecommunications, The Industry Standard writes. After serving in the Israeli military, Mashinsky left the country.ģ years later, having traveled 40 countries and having ran short-lived business projects, Mashinsky arrived in New York. The Industry Standard adds that Mashinsky liked to tinker with things and often tapped into public phone lines until Israel’s national telecommunications company threatened to shut off his family’s telephone service.Īccording to The Industry Standard, Mashinsky studied at three universities, never finishing a degree in electrical engineering. In 1999, The Industry Standardwrote that as a teen, Mashinsky would buy confiscated goods from customs auctions at Tel Aviv’s Ben Gurion airport, including pens, electrostatic paper, and hairdryers. Mashinsky is reportedly a holder of over 50 patents as well.Īccording to Forbes, Alex Mashinsky was born in Soviet Ukraine and migrated to Israel with his parents in 1972. Over the years, Mashinsky has also founded several companies, including Arbinet, GroundLink, Transit Wireless, and the Celsius Network – his current “cefi/defi” crypto app that allows you to earn yield on crypto assets and stablecoins. Alex Mashinsky is a prominent technology entrepreneur who is most known as one of the inventors of VoIP (Voice over Internet Protocol) – a technology that allows calls to be performed over an internet connection.
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