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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.
Celsius Network
Updates
The most recent Ask Me Anything (AMA) with Celsius Network (CN) and Alex Mashinsky revealed that the Assets Under Management (AUM) is currently at 14 billion USD with the expectations of adding about 1 billion USD each month.
As of the recent AMA, Celsius Network has paid out 250 million USD to its users in interest. They want to obtain more users via referrals and hence they are boosting referral rewards in the coming weeks.
New partnerships and exchange listings.
Celsius Network has always worked with Liquid Exchange, but now users can also earn on the exchange just like on CN.
CEL is now listed on Bittrex Global and Bitfinex with several trading pairs.
If you want to buy CEL, these exchanges offer the best rates with lower fees when compared to decentralized exchanges (DEXes).
Celsius Network is also working on partnering with 3 more exchanges.
Many Celsians want a partnership with Tesla because they want to own an electric vehicle. It would reduce friction since the idea would be to use the weekly interest payments to pay off the car over time.
The Celsius Network web app was expected to be released on March 31st, 2021, but will be delayed until further notice because they wanted a simpler, yet secure way to sign in onto the web version.
As mentioned by Mashinsky, many people will be tempted to buy crypto, especially Bitcoin, with their stimulus checks so make sure you get in before they do.
HODLing vs. Trading
Some sound advice from Duke Kim in a recent AMA: Leave the trading to professionals and just HODL. It is impossible to time the market and the upside of HODLing is greater than the short term gains from trading.
Many users are getting the Self Insurance opt-in notification in the Celsius Network app.
Reminder that the self insurance is to insure any counter-party risk. It is a reserve fund that gives Celsius Network the ability to instantly tap into and buy back coins when the collateral is insufficient.
Interest Earned
It has been 4 weeks since my last report on Celsius Network earnings and during that time my account has earned an additional 9400 USD. You can monitor this Google Sheet where I track all my earnings from a variety of platforms and it gives percent changes. According to the spreadsheet, my total earnings grew 24% in 4 weeks.
BTC is currently at 58.3k USD and ETH is at 2081 USD as of writing this report.
Conclusion & Prospect
Celsius Network continues to grow at a rapid rate as the AUM is well above 14 billion USD. In the recent weeks, CEL price finally pushed back above the 5 USD mark. Quarter two should be exciting as many CeFi platforms have announced major upcoming releases and CN is no different. The web app is still unavailable despite a target release date of March 31st, 2021, but I would rather have a safe and secure product rather than a rushed and unsecured one.
The partnerships with 3 exchanges will definitely make CEL more liquid, but I believe all three of the exchanges are restricted for US customers. I have used all three platforms in the past but had to move my funds off since I am a US customer. Celsius Network is working on partnering with 3 more exchanges in the coming months so I still have high hopes that one may be more US-friendly.
With Bitcoin (BTC) and Ethereum (ETH) pushing new highs, my Celsius Network portfolio is growing nicely. While competitors have reduced their interest rates to remain sustainable, CN rates have stayed relatively the same. I am tempted to move some more funds onto Celsius Network and take advantage of the recent promo code “UN_BLOCK”. It requires that I transfer 25,000 USD or more of assets into my Celsius wallet for 90 days to receive 500 USD.
I will continue to HODL until I reach financial freedom. At this rate, I believe I will reach my goal by the end of 2021.
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.