Holders of the meme-inspired cryptocurrency Dogecoin ($DOGE) can now earn interest on their holdings via popular cryptocurrency lender Celsius. According to an announcement, DOGE holders can earn up to 0.5% APY in kind.
Celsius’ announcement details that DOGE holders can, if they so choose, decide to earn interest in the platform’s native CEL token. If they choose to do so rewards can go up to 0.63% for eligible users with a Platinum status on the platform.
Having a platinum status on Celsius, according to the company’s support pages, means users have at least 25% of their portfolios in CEL tokens. It’s worth noting that earnings rewards in CEL is not available in the United States, the support page adds.
As CryptoGlobe reported Dogecoin’s adoption has been growing over the last few weeks after Tesla CEO Elon Musk – a well-known DOGE supporter – pushed McDonald’s to accept payments in the meme-inspired cryptocurrency, saying he would eat a Happy Meal on TV if the fast-food giant took DOGE.
Dogecoin co-creator Billy Markus supported Musk’s push, although McDonald’s in response jokingly said Tesla would have to first accept “grimacecoin” first, a move that led to several fake grimacecoins seeing price explosions.
Rival fast-food chain MrBeast Burger, an American delivery-only fast-food chain founded by internet personality Jimmy Donaldson (AKA MrBeast), has tweeted at Elon Musk saying it will “work on” accepting DOGE if it got a retweet.
Celsius Network is itself a well-known cryptocurrency lender founded in 2017. Its CEO, Alex Mashinsky, has in the past predicted the price of bitcoin is going to surge to $160,000.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Featured image via Pixabay
Source: Read Full Article
Zilliqa [ZIL] and Genaro – Captain America and Winter Soldier at work
NEM [XEM] platform used for dAppbuilt, a Blockchain commercialization!
Crypto Analyst: These 3 Altcoins Seem ‘Ready To Moon’ As Uniswap V3 Launch Nears
Football Club Dynamo Kyiv Partners with Moonwalk to Develop Digital Ecosystem
Online Brokerage Robinhood Launches Crypto Trading Free of Commission in 4 U.S. States