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Convert
Australian Dollar (AUD) to Celsius (CEL) Instantly

Purchase Celsius (CEL) with Australian Dollar (AUD) 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 AUD 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 does the AUD/CEL trading pair represent and what is the current status of the CEL token?

    The AUD/CEL pair represents the exchange rate between the Australian Dollar (AUD) and the Celsius (CEL) token. CEL was the native utility token for the Celsius Network, a centralized finance (CeFi) platform for crypto lending and earning yield. Crucially, Celsius Network filed for Chapter 11 bankruptcy in July 2022. Consequently, the platform is no longer operational in its original form, and trading the CEL token is now considered highly speculative, driven primarily by bankruptcy proceedings and community sentiment rather than its former platform utility.

  • What was the original function of the CEL token on the Celsius Network?

    Within the now-defunct Celsius Network ecosystem, the CEL token served as a core utility asset. Users who chose to earn their crypto interest 'in CEL' received boosted yield rates on their deposits. Holding CEL also provided benefits such as discounts on the interest rates for collateralized loans taken out on the platform. The amount of CEL held determined a user's loyalty tier, unlocking progressively better rewards and financial terms.

  • What KYC/AML compliance is needed to use AUD for a CEL token purchase?

    To start the process, any transaction converting Australian Dollars (AUD) into cryptocurrency via a regulated fiat on-ramp is subject to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. This involves verifying your identity by providing official documents. While the final CEL trade might occur on a different platform (like a DEX) with different rules, the initial AUD-to-crypto step on an Australian exchange requires full KYC/AML compliance to ensure a secure and legal transaction.

  • Where can I trade CEL with Australian Dollars (AUD) now?

    Directly purchasing CEL with AUD on major Australian cryptocurrency exchanges is unlikely, as most regulated platforms have delisted the token due to its high-risk nature post-bankruptcy. The most common method would be to use an Australian fiat on-ramp to buy a major cryptocurrency like Bitcoin (BTC) or Ethereum (ETH) using payment methods like PayID or BPay. You would then transfer that digital asset to an international or decentralized exchange (DEX) that still lists CEL and perform a swap. Always conduct thorough due diligence on any trading venue.

  • What specific risks are involved in trading the AUD/CEL pair following the bankruptcy?

    Trading AUD/CEL is fraught with significant risks. The primary risk is extreme price volatility, as the token's value is untethered from any functional utility and is moved by speculative trading and news about the bankruptcy case. There is also substantial liquidity risk; low trading volumes can lead to large price slippage when buying or selling. Furthermore, the token faces a constant delisting risk from the few exchanges that still support it, which could make it very difficult to liquidate your position.

  • How should I securely store CEL tokens if I decide to acquire them?

    Given the Celsius Network's failure as a custodial platform, self-custody is the most secure method for storing any digital asset, including CEL. After acquiring CEL, it is highly recommended to transfer it from the exchange to a non-custodial digital wallet where you control the private keys. Since CEL is an ERC-20 token, you can use any Ethereum-compatible wallet, such as MetaMask, Trust Wallet, or for maximum security, a hardware wallet like Ledger or Trezor. This prevents loss of funds in case the exchange faces issues.

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