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Anchor Protocol vs Celsius – Which Is Better?
By Financially Independent Pharmacist  •  February 13, 2022

Last updated on February 15th, 2022

If you’re looking for a way to earn interest on your cryptocurrencies, 2 platforms that you may have heard of include Anchor Protocol and Celsius. How are they different, and which should you choose? Here’s what you need to know:

The difference between Anchor Protocol and Celsius

The Anchor Protocol is a decentralised platform that only allows you to earn interest on UST. Meanwhile, Celsius is a centralised platform that allows you to earn interest on a wider variety of cryptocurrencies, such as BTC, ETH and ADA. Here is a further comparison between these 2 platforms:

Supported cryptocurrencies

Here are the different cryptocurrencies that you can deposit into either account:

Anchor Protocol only allows you to deposit UST

The only cryptocurrency that you can deposit on Anchor Protocol is UST, which is an algorithmic stablecoin.
Anchor Protocol Select Deposit
This is a stablecoin...
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By Financially Independent Pharmacist
I’m a current Pharmacy undergraduate in NUS who is passionate about personal finance. I strongly advocate everyone to become more financially literate. Personal finance is such an important skill, yet it is not being taught in schools.
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