First I thought what a great Idea to hodl your cryptos but than I think where do they get the interest from? I think there is a risk involved with holding your cryptos in that wallet.
For me, I will keep my cryptos save in my hardware wallet but for everyone who wants to earn extra cryptos that is a great idea!
Good Hunt and thanks for sharing!
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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.
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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?
It states on the product page that BitGo moves the coins in and out of exchanges and hedge funds. They claim it's collaterized by fiat money so it's up to you to decide if you trust them.