Now you earn interest on your Dogecoin holdings

• Dogecoin is trading at $0.14, an increase of approx 8% in the last seven days, although more than 80% less than its all-time high of $0.73 on May 2021 

Dogecoin on Celsius

London-based cryptocurrency lending network Celsius has announced that Dogecoin has now been added to its platform. On top of that, meme-coin holders can also earn interest on their holdings. The platform announced support of $DOGE on Celsius via Twitter.

Celsius Network

Celsius Network is a finance company that provides cryptocurrencies as loans, founded in 2017 and headquartered in London, UK. Recently in the third quarter of 2021, the company got equity funding of $400 million from investors. CEO Alex Mashinky has been vocal for crypto support and even once predicted Bitcoin price to go up to $160K.  

Details, terms, and conditions 

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An announcement from the network showcased details that holders of Dogecoin can get up to 0.5% annual percentage yield of their holdings. Moreover, if $DOGE holders want, they can earn up to 0.63% if they choose to warn interest in the CEL token, the Celsius network’s token. Users can get the platform’s Platinum Status by selecting the latter option. 

Details about terms and conditions have been displayed on the platforms support page; one of them explains that to get premium status is that users must have 25% of CEL tokens at least in their portfolio. Facility to get CEL in rewards will only be available for residents of a country other than the United States.

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Increasing popularity of Dogecoin

Meme-inspired cryptocurrency has approximately $18 billion and comes at the tenth position in terms of market cap. Lately, it has been talk of the town crypto for various reasons. 

Earlier, Tesla has announced that their merchandise stores would accept payments in $DOGE. An announcement was made on Twitter by Elon Musk himself on 14 Jan; he has been a well-known supporter of meme-coin. He even once tweeted persuading fast-food giant McDonald’s to accept Dogecoin as payment.