Last updated on January 25th, 2022
Celsius allows you to earn interest in a variety of cryptocurrencies.
One of them is ADA, and you may be wondering how you can send this cryptocurrency to Celsius.
Here’s what you need to know.
Can I send ADA to Celsius?
You are able to send ADA to Celsius via the Cardano blockchain. Celsius does not accept ADA deposits via other networks (such as BEP2 or BEP20), so you may lose the ADA that you’ve sent through this method.
How to send ADA to Celsius
Here are 6 steps to send ADA to Celsius:
- Select a platform that enables native ADA withdrawals
- Go to ‘Menu → Transfer’ on Celsius
- Select ADA as the coin you wish to transfer
- Copy the wallet address on the Celsius app
- Withdraw from the platform of your choice using the native Cardano network
- Receive ADA on Celsius
And here is each step explained in-depth:
Select a platform that enables native ADA withdrawals
Since you are only able to send ADA via the native Cardano network, you will need to buy ADA on an exchange that supports such withdrawals.
Here are 5 exchanges for your consideration:
In terms of ADA withdrawals, it seems that Crypto.com has the lowest fees when you want to make a withdrawal.
Go to ‘Menu → Transfer’ on Celsius
When you’re on the Celsius app, you would need to go to the Celsius menu and tap on ‘Transfer‘.
Select ADA as the coin you wish to transfer
When you’re on this screen, you’ll need to select ADA the currency that you wish to transfer into Celsius.
Copy the wallet address on the Celsius app
You will be given a warning that you are only able to send ADA to Celsius using the native Cardano network.
This is similar to the process when you’re sending ADA to Nexo. You are only able to send ADA via the native Cardano blockchain, and not using any other networks.
You can copy this address to the platform that you intend to send ADA from.
The deposit address starts with ‘addr1’, which is a Shelley-era address.
Your wallet address is one long string of letters and numbers. It is very important that you copy it letter by letter! If you make any mistake in the wallet address, your crypto will be lost forever!
As such, the best way will be to copy your wallet address directly.
If you are finding it hard to remember all of these long deposit addresses, you may want to consider simplifying them using Unstoppable Domains.
This allows you to send crypto to a .crypto or .wallet address, which makes it much easier to transfer cryptocurrencies between platforms!
Withdraw from the platform of your choice using the native Cardano network
The next step you’ll need to do would be to withdraw ADA from the platform that you’ve chosen to Celsius using the Cardano network.
There may be some platforms like Binance which allow you to withdraw ADA using different networks, such as BEP20 and BEP2.
It is important that you withdraw ADA using the Cardano network, and not the BEP2 or BEP20 networks. Celsius does not support these 2 networks, and you may lose the ADA that you sent over!
Otherwise, you will be sending the Binance-Peg version of ADA, which is different from native ADA.
Receive ADA on Celsius
After confirming the withdrawal on the platform of your choice, you will receive ADA on Celsius.
When you are sending ADA to Celsius, it is important that you only do so via the native Cardano network.
This is a similar process to how you would send MATIC to Celsius.
If you choose to send ADA via another network, there may be a chance that your ADA may be lost forever!
Alternatively, you can look to stake ADA on other platforms such as Exodus.
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