I really understand the concern as being myself a hodler on Celsius. But here's the thing regarding the "risk involved":
Regarding security, the app itself doesn't actually hold any funds, all the funds are stored with BitGo which is a regulated cryptocurrency custodian based in the US. BitGo keeps funds deposited with them in multiple encrypted wallets with multi-sig access, they also hold funds for Genesis, Pantera, Bitstamp, UPBit, SBI Holdings, Ripple and more.
The SDG Impact Fund (Sustainable Development Goals), a United Nations initiative has chosen Celsius as their crypto asset manager, so it's very safe.
I hope that clears up your concerns.
✌️
Regulated you say? Let me think here. Who was the last to tell me their crypto service I was using was regulated? Oh, right. It was the Cryptsy exchange. Would you like to ask me how that worked out?