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Convert
Philippine Peso (PHP) to Celsius (CEL) Instantly

Purchase Celsius (CEL) with Philippine Peso (PHP) 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 PHP 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 PHP/CEL trading pair represent in the current market?

    The PHP/CEL pair represents the exchange rate between the Philippine Peso (PHP) and the CEL token. CEL is the native utility token of the Celsius Network, a cryptocurrency lending platform that filed for Chapter 11 bankruptcy. Trading this pair means you are using PHP to speculate on the value of a high-risk digital asset whose future is intrinsically linked to the outcome of these bankruptcy proceedings and any potential platform restructuring.

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

    Originally, the CEL token (an ERC-20 token on Ethereum) provided utility within the Celsius platform. Holding it and opting to receive interest 'in-kind' as CEL offered users benefits like boosted yield on deposits and discounts on loan interest rates. These benefits were structured in loyalty tiers based on the percentage of a user's portfolio held in CEL. This utility is now defunct following the company's bankruptcy.

  • What types of fees are associated with the PHP to CEL transaction pathway?

    Because a multi-step process is required, you can expect several fees: 1) A fiat deposit fee for your PHP on the initial exchange (e.g., a small percentage for GCash payments). 2) A trading fee for the PHP to USDT/ETH conversion. 3) A blockchain network fee (e.g., Ethereum gas fees for ERC-20 USDT) to withdraw your asset to the second exchange. 4) A second trading fee on the international exchange for the final USDT/CEL trade.

  • What is the typical process for buying CEL tokens with Philippine Pesos (PHP)?

    Due to CEL's current status, a direct PHP/CEL fiat on-ramp is rare. The common method involves multiple steps: 1. Use a BSP-regulated cryptocurrency exchange in the Philippines to deposit PHP via methods like GCash or bank transfer. 2. Purchase a major liquidity crypto like USDT or ETH on that exchange. 3. Transfer this asset to an international exchange that still lists a CEL trading pair (e.g., CEL/USDT). 4. Execute the trade from your intermediate asset to CEL. Always verify exchange listings and liquidity beforehand.

  • What are the primary risks involved in trading the PHP/CEL pair today?

    The foremost risk is the Celsius Network's unresolved bankruptcy. The CEL token's value is extremely speculative and subject to high volatility based on news from the legal proceedings, creditor distribution plans, and the potential emergence (or lack thereof) of a new entity. There's also significant liquidity risk, as many exchanges have delisted the token, and the lack of its original utility means its value is not underpinned by any platform function.

  • How should I securely store CEL tokens after a successful trade?

    Given the history of the Celsius platform, self-custody is paramount. After acquiring CEL (an ERC-20 token), you should withdraw it from the exchange to a non-custodial digital wallet where you control the private keys. For maximum security, a hardware wallet is the recommended solution. This practice mitigates counterparty risk, which was the central issue in the Celsius Network's collapse, and gives you sole authority over your digital assets.

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