Celsius Network Progress Report (Free) 📈
HODLer's Den (Free Version)
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.
Celsius Network
Updates
Exciting news as the Celsius Network Credit Card is set to be released in Q3 2021. Celsius Network (CN) will be partnering with Visa to provide new features that have never been done before on a credit card. At the same time, the partnership with Visa will help CN connect to millions of users worldwide who are already on Visa’s network.
If you have not done so, you can join the waitlist for the Celsius Network Credit Card by clicking here.
During the AMA (Ask Me Anything), Mashinsky mentioned that CEL has been resilient during the market pull back when compared to Bitcoin (BTC) because it now has more utility such as being able to use CEL as collateral for loans. CEL has also been listed on several major exchanges in the recent months.
Celsius Network invested over 200 million USD in Bitcoin (BTC) mining in North America (NA) which should result in higher interest rates for BTC in the future. Last week, CN mined 50 BTCs using its new mining investment in NA. Mashinsky stated that freshly mined BTCs are worth more because they have not been in the hands of “bad” players given that all transactions are transparent on the blockchain.
Co-founder of Celsius Network, Daniel, stated that the goal and vision of Celsius Network is to make it possible such that you will never have to set foot inside a bank again: all the traditional banking features can be done on your mobile phone.
Proof of Community (PoC) is coming closer to fruition to provide superior transparency while maintaining security for Celsians. PoC will also provide users with tools they need for tracking earnings with greater detail. A benefit of PoC is to earn trust from the community and to help convert non-believers of the Celsius Network into believers. All the data from PoC is published to the Ethereum network and onto other chains.
While companies like Coinbase and Gemini are quick to list new coins and tokens, Celsius Network is a bit stricter in its selection process. CN usually wants the coin or token to be able to earn a yield which benefits the community. Whereas Coinbase and Gemini will list coins with high volume because they make fees from traders, Celsius Network just wants its community to HODL and earn a yield.
With that said, Celsius Network will be accepting a couple of new coins in the coming months: Binance Coin (BNB), Polkadot (DOT), Bancor (BNT), and Terra (LUNA).
Interest Earned
It has been 4 weeks since my last report on Celsius Network earnings and during that time my account has “lost” 17000 USD in value. 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 lost 27% in 4 weeks.
Most of my assets are split among the four platforms that I use: Celsius Network, BlockFi, Bitrue, and Crypto.com. Both Bitcoin and Ethereum took major hits in the last 4 weeks and CEL is currently dumping supposedly due to a whale selling. My CN portfolio took a massive hit but is still up overall from the beginning of 2021.
BTC is currently at 32.6k USD and ETH is at 1812 USD as of writing this report.
Conclusion & Prospect
If you track the Google Sheet posted above, you will notice that this is the first time my Celsius Network portfolio took a hit as it has always been netting me positive gains. The market is turbulent with very little volume which means it could go either way as investors are indecisive.
I have been a HODLer since 2017 so the recent pullback barely phased me. In the long run, I think we will do fine because of platforms like Celsius Network providing a decent yield. Every week I am earning over 400 USD from Celsius Network which is also auto compounding. During the next rally, I am ready for my portfolio to explode.
Remember that Mashinsky did predict a massive price drop (40-50%) in Bitcoin earlier this year, but he also predicted that Bitcoin will reach 160k USD by the end of 2021. I believe that once the miners move away from China and establish in a new, crypto-friendly environment, we will see a nice rally as the market recovers.
I am super pumped for the release of the Celsius Network Credit Card now that it has a targeted release date of Q3 2021.
Given Celsius Network’s track record, I believe this credit card will easily dominate its competitors. Other features include having no fees, and more ways to pay back: “Pay your balance with fiat, rewards, or stablecoins.” Given all these features, I believe many Celsians can reach financial freedom because they can spend their rewards without ever having to convert it into fiat or using a bank.
The current market is depressing, but remember that there are plenty of good news for crypto coming in the pipeline. Just HODL and be immensely rewarded in the future.
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.