Twitter | Starter Pack | Reddit | YouTube | Patreon | Website | Earn $250 in Promos
Disclaimer: Nothing in this report constitutes investment advice—I am just reporting on my accounts and its progress on each platform. You should not use this report to make financial decisions. I recommend you seek professional advice from someone who is authorized to provide investment advice.
Hey everyone and welcome to the HODLer’s Den!
Here you will find information on my crypto investment portfolio straight from a HODLer’s perspective.  This section will focus on HODLing cryptos and interest-earning platforms.
BlockFi
Update
Bitcoin (BTC) & Ethereum (ETH) Rates Are Changing
Tier 1 rates remain unchanged at 6% APY for BTC and 5.25% APY for ETH; introducing changes to BTC Tier 2 rate and adding new tier for both BTC and ETH.
To stay competitive, crypto platforms have to adapt to these changing conditions, and that’s why BlockFi is announcing new rates and tiers for Bitcoin (BTC) and Ethereum (ETH) holdings in the BlockFi Interest Account (BIA) starting April 1, 2021.
Rates can change due to market conditions. The last time BlockFi adjusted the rate for BTC was in April 2020, when Tier 1 rose from 4.9% APY to 6% APY back when bitcoin was worth approximately 7000 USD.
Joseph Hickey Joins BlockFi as Global Head of Trading
Hickey will be responsible for expanding BlockFi’s institutional trading relationships and risk management processes to meet growing crypto liquidity and funding needs. Hickey has extensive expertise in funding markets, trading macro products, ETFs, options, and OTC derivatives.
Hickey joins BlockFi from CME Group, where he managed an institutional distribution team responsible for building relationships with senior decisionmakers to influence trading behavior across buy-side, sell-side, and intermediaries.
BlockFi and Arcane Research Announce Collaborative Partnership
Arcane research provides data-driven analysis and bespoke research within the field of cryptocurrency and digital assets.
BlockFi and Arcane Research will jointly produce biweekly reports tracking institutional investments and related developments in digital assets.
Each report, available exclusively to BlockFi clients, will include general market updates, research, and commentary on digital asset prices, trading volumes, investment trends, shifting sentiment, and valuations.
Some reports will also include special sections on specific themes or market events, such as on-chain activity, DeFi developments, mining trends, new market participants and regulatory updates.
Interest Earned
It has been 4 weeks since the last BlockFi report and during that time my portfolio gained roughly 1500 USD—a 17% increase. I track my progress with each lending platform using a Google Spreadsheet.
Bitcoin (BTC) is currently at 61.5k USD while Ethereum (ETH) is at 2427 USD. Both of these assets make a majority of my BlockFi portfolio and it is clearly reflected in my portfolio. Both of these assets have been moving sideways in the last month, but that means more time for accumulating.
As a HODLer, I just sit back and watch my account compound and grow. Remember that the gains during a bear market will be astronomical during a prolonged bull market.  Note that my previous account balance was around 141k USD but it is now at 160k USD. I am reaping the rewards of being patient and compounding my earnings. In 4 weeks, my overall account balance grew almost 19k USD!
Conclusion & Prospect
If you follow my progress reports, you should know that I consider my BlockFi portfolio as my personal retirement fund or 401k. I plan on investing long term with BlockFi and I do not expect to withdraw from my portfolio for quite some time. The interest rates on BlockFi are not the best, but they remain competitive in the crypto space. The great thing about BlockFi is that they do not require a utility token which means everyone benefits in the same way regardless of their portfolio allocations.
Rate changes are expected and it occurs across all the lending platforms that I use to earn a yield/interest. Most of the time, rate reductions are actually good indicators because it could mean high demand or interest in the platform. Or, the price of crypto assets are rising too quickly—think bull market—for platforms to remain sustainable at current rates.
Overall, the new tiers that BlockFi introduced mainly affect accounts that own more than 1 BTC and as a result, it should still remain fairly enticing for new investors. I will still continue to hold my funds with BlockFi despite the new tiers. But it is also important to know that I spread my funds across several platforms to reduce risk. So far I have not encountered any issues or problems.
I am surprised that BlockFi has not made any new announcements regarding its BlockFi Bitcoin Rewards Credit Card. I believe it would make a great addition to the platform and attract a lot of new users even though it comes with an annual fee. The first platform to release a crypto credit card will have first mover advantage. With the recent adjusted interest rates from BlockFi, the credit card will help them compete against other centralized finance platforms.
What I Am Doing
This section is dedicated to paid subscribers as I will go into details of what moves I am making with my interest-earning portfolios.
You are currently reading the Free Version. If you would like more information, please consider switching to a paid subscription.
Each week I will report on a different interest-earning platform that I use—mainly, Celsius Network, Bitrue, Crypto.com, and BlockFi.
If you are new to crypto or have considered joining new platforms, check out the Starter Pack created by CryptoOneStop by clicking here or if you want to earn over 250 USD in referral bonuses then click here.