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United Arab Emirates dirham (AED) to Celsius (CEL) Instantly

Purchase Celsius (CEL) with United Arab Emirates dirham (AED) easily at Switchere and benefit from fast, secure transactions.

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About
Celsius (CEL)

Celsius Network, with its native CEL token, emerged as a major centralized finance (CeFi) platform designed to bridge the gap between traditional banking and the world of digital assets. Its primary function was to offer users the ability to earn yield on their cryptocurrency holdings and to take out crypto-collateralized loans. The platform operated on a custodial basis, managing user funds to generate interest income through lending activities to institutional borrowers. This model positioned it as a user-friendly alternative for crypto holders seeking to put their assets to work without navigating complex DeFi protocols.

The CEL token was the core of its loyalty and rewards system. As a utility token, holding and using CEL provided tangible benefits within the Celsius ecosystem, such as preferential interest rates for both earning and borrowing. Users could receive higher yields on their deposited assets and lower rates on loans, with rewards often distributed weekly in the form of CEL. This tokenomics structure was designed to incentivize user loyalty and drive demand for the native asset. However, the platform faced significant operational challenges and market pressures, which ultimately led to a Chapter 11 bankruptcy filing, profoundly impacting its users and reshaping the narrative around risk in the CeFi lending industry.

Celsius (CEL)

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How to Buy Celsius (CEL)

  1. Select currency menu

    Choose AED to CEL Pair

    Select your preferred payment method and enter the amount.

  2. Crypto address page

    Enter Your Celsius Wallet Address

    Provide your CEL wallet address and proceed with the payment.

  3. Confirmation page

    Receive Your Celsius

    Complete the payment, and your CEL will be sent to your wallet.

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Frequently Asked Questions

  • What is the AED/CEL trading pair and what does it represent?

    The AED/CEL trading pair represents the exchange rate between the United Arab Emirates Dirham (AED) and the Celsius (CEL) token. It allows traders to purchase CEL, the native utility token of the Celsius Network platform, using AED. This pair serves as a direct fiat on-ramp for users in the UAE region looking to acquire this specific digital asset, although its utility has changed significantly following the platform's restructuring.

  • What is the process to buy CEL with AED on a cryptocurrency exchange?

    To buy CEL with AED, you first need to find a cryptocurrency exchange that lists the CEL token and accepts AED deposits. The process typically involves: 1) Creating an account and completing KYC/AML verification. 2) Depositing AED into your exchange wallet via accepted methods like a local bank transfer. 3) Navigating to the trading section to find a CEL pair. If a direct AED/CEL pair is unavailable, you may need to first trade AED for a major cryptocurrency like USDT, then trade USDT for CEL. 4) Placing an order to execute the digital asset purchase.

  • Are there specific regulatory considerations, like from VARA, when trading crypto with AED?

    Yes, when using AED for digital asset purchases, it's crucial to use platforms that comply with local regulations. In Dubai, the Virtual Assets Regulatory Authority (VARA) oversees the crypto landscape. Using a VARA-licensed exchange or a reputable international platform that adheres to UAE's KYC/AML compliance standards ensures a more secure trading environment and helps protect your fiat on-ramp and off-ramp transactions.

  • Historically, what was the primary utility of the CEL token within the Celsius Network ecosystem?

    The CEL token was designed as a community-centric utility token for the Celsius Network. Its primary functions included enabling users to earn higher yields on their digital assets (Earn program), get discounts on loan interest payments, and use CEL as loan collateral. Holding CEL and opting to receive rewards in CEL provided tiered benefits, which was a core part of the platform's tokenomics model before it underwent Chapter 11 proceedings.

  • What is the current status of Celsius Network and how does it affect the CEL token's utility?

    Celsius Network filed for Chapter 11 bankruptcy in July 2022 and has since been undergoing a major restructuring process. As a result, the original platform that gave the CEL token its utility—such as the Earn program and loan discounts—is no longer operational in its original form. Consequently, the CEL token's value is now highly speculative and driven more by market sentiment and news about the restructuring plan rather than its initial, platform-based utility.

  • What is the best way to securely store CEL tokens after purchase?

    For maximum security, it is highly recommended to move your CEL tokens from the cryptocurrency exchange to a non-custodial digital wallet where you control the private keys. Since CEL is primarily an ERC-20 token, it is compatible with most Ethereum-based wallets. Options range from software wallets like MetaMask to hardware wallets (e.g., Ledger, Trezor) for the highest level of security against online threats. Always double-check the network compatibility before initiating a blockchain transaction.

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