Celsius Reviews 1,598

Gonna give you a 3.5/5 after reading these reviews. After watching loads of Celsius and Block-Fi videos on YouTube so glad I chose Nexo!! If you're in the US there are work arounds for using Next. Legit great service. But Celsius is good too. Just not as good as Nexo. Good work Crypto fam!

Do not deposit so much as a dollar here. I have had problems every way possible. I cannot withdraw tokens, some of them are pending, some of them apparently are lost, the whitelist addresses were correct, it's horrific. I have a substantial amount of money deposited and the fact that the information they provide is not accurate as per their protocol is beyond reproach. There is no customer service. There are glitches around every corner. This type of inconsistency and lack of credibility is not appropriate anywhere, but especially with regard to finances. This is outrageous conduct and gross negligence at best. I am literally afraid to do anything because I do not want my bags to go missing so they just sit there and I have no idea what to do. I am going to contact some friends of mine in the political arena and I don't foresee anything good coming out of this! Again stay away from this exchange it's not worth it.

Been with them many months. Finally need my money all deposited from coinbase pro to Celsius won't send even after whitelisted because coinbase pro gives new wallet address each time and Celsius doesn't want to give send any of my crypto back to coinbase pro where they were happy to accept deposits from. I need to lay house payment. It's only like 130 in bitcoin and 100 in eos and since trying to withdraw for hours price keeps going down so i will be late plus lose money. Guess done with with apps that take your money paying 20 cents week interest yet keep everything. Just email me and tell me why doing this. Now login information from Google is bad yet worked last 5 months. Come on contact me i have to have pay bills or get evicted. Have some compassion please ema call or respond asap. Brian

STAY AWAY. They actively trade against you, they deflect enquiries to buy them time to trade against you. They dont respond to information requests, they have a 3 day turn around time minimum for each response and that response is canned or a red herring to allow them more time to profit from your deposits. An absolute disgrace!

I have been with Celsius only for a few weeks. Recently, I have been having the same issue as another reviewer with respect to Facebook login. For me, it's been about 5 days or so now, and none of my attempts to contact Celsius have resulted in a response. Similar to the other reviewer, I asked the company to somehow give me another means to log in, and again, no response. Although I did receive a text notification about interest accrual this morning, it's of little consolation in that I have no way to view my account or move money around, should I wish to do so. It's extremely disconcerting having zero control over one's investment, but that's exactly the sentiment that Celsius has created due to its complete and utter lack of communication and professionalism. There are other platforms that offer similar interest rates and I plan to migrate to one of them once Celsius has fixed this.

Update: The problem was eventually corrected, although it took a lot longer than I thought it should.

This is really worrying. All went well until about two weeks ago when trying to login using Facebook I started getting this message:
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Facebook login is unavailable at the moment. Apologies for any inconvenience! We are working on resolving this technical issue as soon as possible.
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I patiently waited for a week hoping it resolves soon. Then decided to wire to support and got the following response:
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We are aware of this issue and are working on the fix to get this rectified. We appreciate your patience and apologize for any inconvenience during this time and we will provide an update once this has been resolved.

I wish we could share some new information regarding this, but to be truthful, there are no updates at this point. We would like to emphasize that this team is currently working round the clock on solving this issue.
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As you can see, their reply is the same message I'm getting on the mobile app and web app.

My question if I could migrate to another login method are being ignored. Not sure they can be trusted.

Sooo, turns out Alex was a fraud and ran the company into the ground while enriching himself.

The platform is decent. However, customer care and relations are awful! I got banned from their Twitter account for asking for help since I was locked out of my account. They banned me because I demanded urgent help on my support ticket since it was related to my account security. They decided to ban me so they can keep their dignity. They always say that they are doing it for the clients, but the moment someone speaks up they ban him so they can keep everything perfectly looking for the next victim.

I managed to get into my account and I withdrew everything. I am not saying they are scammers, but they for sure don't know how to handle clients.

Whoever’s giving 5 star reviews have clearly not had to deal with customer service at Celcius. I don’t blame the employees but I do blame the cheap owners who fail to hire the necessary people to cope with the demands of their customer base.
Customer service communication is as poor as it comes.

I have had a good experience with Celsius Network. They pay rewards on time and process withdrawals and deposits quickly.

They don't answers sometimes for weeks on emails. You just get automized emails.

They didn't resolve my issue for 6+ months ... and they charge me that service 30 euro
👎

Horrible absolutely horrible customer support

The worst type of support you can find.they outsource all of their technicial support to eastern Europe who are absolutely hopeless at responding. I have been waiting 27 hours for a withdraw they take ages to respond. Stay away from this company they can hold your coins and not give them back

Multiple red flags around Celsius. For one, they have a losing business model- you can find their financial docs they need to file in London. Second, their "board" is Mashinsky and one other person- that's it. Third, you can see how they constantly need to take in outside funding to stay afloat. Because, fourth, their largest expense is the interest they need to pay. Which is probably why, fifth, converting coins is how they make money. Which could explain why they hold onto coins for as long as possible- hold them to a favorable conversion rate, and keep the difference.

Customer service is non-existent. Which doesn't sound that bad, until it's your money locked up and Celsius doesn't care. Specifically, before doing the above research, XLM was sent to Celsius without a memo. The memo simply directs the XLM to a customer account, but it is sent to the same Celsius wallet. Customer service sent me the standard auto-response for this, which I followed to the letter- made a good transfer (I needed to by more XLM), and sent info of bad transfer. They said thanks- you'll get your XLM in 45 days. Why? No answer- it was confirmed on XLM reddit that other companies direct the XLM to their customers account immediately upon identifying client's wallet- a couple hours.

Celsius has had my XLM now for over 60 days. Customer service, when it responds, is generic- nothing about my case, no estimate of when I'll get my money back, and no reason why it takes months to do what others do in hours.

That's what I (we) mean about no customer service- this isn't needing help with a log in. You'd think missing money would be an elevated concern, but it's not.

Prime Trust, their previous crypto custody service, dropped Celsius for "endless rehypothecation" - which is using the collateral for their client loans to lend out, or used to back their own loans. Mashinsky blows this off. But what it means is that their loans ARE NOT backed by collateral- the collateral is either lent out, or used to back their own loans. England, unlike the United States, has no limit on how many times a loan can be rehypothecated. A company can take one loan collateral, and lend it out, or use it as collateral for their own loan, many, many times. Enough for Prime Trust to bail on them.

Fireblocks is not Celsius' custody company, but they handle their transfers. So when Mashinsky says Fireblocks does the same thing as Prime Trust, that's not true. When he says Fireblocks has insured service, it's just the transfer, not the custody of the cryptocurrency.

All of their recent promos, to existing and new clients, all have the Requirement that your entire account balance must stay above the level it was when promo was activated. So, deposit ADA with the promo code, and you must retain that level for 30 days. Which seems like a cheap way to keep account balances up. BTC dipped, but if you took BTC out to sell, you lost your ADA promo.

Upon withdrawal, you learn that you need to have a "whitelisted" address- this is not optional. That adds 24 hours to your withdrawal request, as well as multiple, "are you sure?" messages. Then, upon withdrawal, it says that it could take up to another 24 hours. You are also given the option (many times) to take a loan instead- "like a billionaire!"

It reeks like a ponzi scheme. This is not a bank, and if you read the Terms of Service, they reiterate that you give them your money, and they do their best- there is no fiduciary relationship- that is, they are not ethically or legally held responsible for your money. That is consistent with there being no insurance. It's also why they don't talk about "interest" payments, but "reward" payments- you are buying into a lending platform.

Mashinsky blows all this off- no insurance, Prime Trust, rehypothecation, even not being profitable. He flat out lied in an interview saying Celsius was profitable. It's not. Talking a lot is not being transparent. Celsius' liabilities grew significantly from Feb. 2019 to Feb. 2020, and they don't have to report 2021 until February 2022.

DIY- do your own research. Celsius could have given me my XLM back over 2 months ago, which led me to research this company. After learning, I took all my money out (except the second XLM transfer I made in case they do give it back to me). It's not worth it.

If you do keep your money there, keep in mind that it is NOT a bank, or a traditional financial institution (trad-fi)- they have absolutely obligation to you. Also, there is no human to call to say, "where is my money," and that human says, "let me look into it, sir/ma'am." You get the same responses everyone else here complained about, or no response at all. It is surreal when it's your money.

When I first checked into Celsius, I wish someone wrote a review like this. DIY and good luck.

Edit: Another month- still no XLM

I accidentally sent funds to Celsius using the BEP20 chain instead of ERC20 (it’s easily done, these chains weren’t an option when I joined Celsius). They offered to help me recover the funds and would send them back to me but then didn’t bother communicating in about 6 months. How can they be trusted when they’re holding funds like this? It’s showing on the ledger in my wallet but no one will help.

the customer service is hard to find an address for and you have to wait many days for answer but when you get an answer it is from a real highly intelligent person. cant say the same for Coinbase which either has robots or illiterates answer emails.

It is very good, but 1.) I am missing USDT deposit on TRC20 for cheeper transactions. And 2.) App is still logging out what is very annoying. But those are little details.

App always freeze. Can't use my credit card or ACH to put money in or to buy crypto. Contacted customer service via chat, never got back to me, I have other options one of them is Nexo who always got back to me. Stock brokers all have phone lines except the crypto brokers where they have this chat... some answer back some hold you for hours and some never answer. I wish there is an Email link to send your question and they would answer it. I only like Celsius because the idea of 1% loans. The app needs work.

Very bad company and communication. I have not received referral reward more than a month. They have told me that my referral have made successfully deposited but rewards are not here. More the a month and 15 emails I still receive answers like,, your request is at our tech department,,. Come on guys you can do better than this. At the end this is big SKAM please avoid.

Bro you had a tech issue the other week where it said someone logged into my account so I froze it and was freaking out

I don't wanna use celsius anymore, don't trust y'all

Love what you are doing now, strive for the security and return especially. Just that, if Capital Protection is in place, I will be depositing 10x more than what I deposited now.