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
Celsius Network continues working on several features such as in-app swap, an on-ramp to convert fiat into crypto, and the credit card.
In-App Swap
Although the in-app swap is highly desirable feature, Mashinsky reminds us that Celsius Network (CN) is focused on HODLing and hence the there will be limits on the number of swaps and the amount of each swap.
They advertise that you will get the best price possible with each swap and it will not have any fees.
Another added bonus with using Celsius Network’s in-app swap is that you immediately start earning interest on your swapped tokens/coins.
Celsius Network wants you to earn while you hold your cryptos on the platform while having the convenience of an exchange.
This allows you to exchange crypto and immediately earn interest on CN versus using an exchange where you can swap cryptos but then you have to move it over to a platform such as CN to accumulate interest.
Currently, they are live testing the in-app swap which is available to a limited amount of users.
For US customers, you will have to be an accredited investor to swap into or out of CEL.
Rollout of the in-app swap will be a gradual and slow release due to compliance and regulations pertaining to swapping cryptos. However, platinum users and Californians will have first access.
California Loans Begin
Celsius Network obtain its lending license for California a couple weeks ago after waiting 2 years and is now able to provide loans to Californians.
The only available loan option is a 25% Loan-to-Value (LTV) with 0% interest, but more options will come in the future such as 50% LTV, etc.
The minimum loan amount is 500 USD and getting a loan from Celsius Network does not affect your credit score because they do not pull your credit report and do not need to verify employment status—you just need to provide a crypto collateral.
Currently you can only take a loan out on a single collateral, but in a couple of months you can take loans against several coins and tokens that you own (multi-collateral loan).
The 0% APR interest on the loan is available only to Californians and they will ask you to verify that you are a resident in CA.
Mashinsky BTC price prediction still stands at 140k-160k USD by the end of the year.
He is looking at statistics from Celsius Network which is averaging a net influx of a quarter billion USD every week
He believes that 29k USD BTC was the last opportunity to buy at such a low price point.
If you want to purchase or sell a large amount of CEL, consider using Celsius Network’s OTC service.
Reach out to the team and they will quote you with the best price possible.
Using a DEX (decentralized exchange) will cost you money due to higher spread and slippage due to illiquidity.
Cardano (ADA) was expected to be release on August 18th, 2021, but due to the complicated nature of the Cardano network, CN decided to delay the launch.
The delay is to ensure safety and the team is in the final stages of testing the network.
Expect ADA to be on CN in the following weeks with an expected 4.05% APR interest earning.
Liquid Exchange was hacked resulting in stolen CEL which was immediately sold.
Fortunately, the hack does not affect CN users because it was not stolen from CN wallets.
Customers using Liquid Earn are also unaffected according to a statement from Liquid.
Despite the addition of many features such as in-app swap, loans, and the rewards credit card, Mashinsky reminds us that the goal of Celsius Network is to help you keep your coins and HODL—not to spend them.
Interest Earned
Things are beginning to return to normal as my portfolio continues to earn net positives.
It has been 4 weeks since my last report on Celsius Network earnings and during that time my account gained 15,400 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 increased by 30% 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 make up a nice portion of my portfolio and the recent rally helped tremendously in reversing the redness. My CN portfolio took a massive hit during the May 2021 correction but it is recovering nicely and is still up overall from the beginning of 2021.
BTC is currently at 48.3k USD and ETH is at 3179 USD as of writing this report.
Conclusion & Prospect
Unless I missed it in an AMA, Celsius Network did not mention anything about the updated Terms of Use and Privacy Policy released near the end of July and early August 2021. I still consider it a bit shady but like I mentioned in my last CN report, no one really reads through the entire Terms of Use or Terms of Service for all the products and services that they use on a daily basis.
Also, remember that crypto is relatively new and considered the wild west and so it is constantly changing to remain lawful and regulated. Many will argue that this goes against crypto’s goal of decentralization and I agree with this sentiment, but Celsius Network is a CeFi (centralized finance) platform and so they must stay compliant.
I am stoked that Californians can now take a loan from Celsius Network. This opens up a lot of possibilities, especially once they release more options besides the 25% LTV loans. However, 0% APR interest is definitely a game-changer because it literally is free money and a flexible way to get instant access to an emergency fund without actually having an emergency fund.
I currently do not need to refinance any loans, but if I did I would take out a loan with CN in an instant to pay down those high interest loans from other companies. Once they implement multi-collateral loan, I will definitely use it to put a down payment on a house. Until then, I will continue to earn interest on my assets with Celsius Network.
The transparency and honesty of Celsius Network is what makes it such a great platform. They release weekly and daily statistics and are constantly improving on proof of community to further validate the data. The interest rates on the platform have remain highly competitive—while most competitors start out with higher APRs, they quickly and ultimately fall below what Celsius Network has to offer.
With loans now available to California and the rewards credit card coming soon, I feel at ease as I move closer to financial freedom because I have access to an emergency fund without having to sell my coins and I hope that I can use my weekly interest earnings to pay off any credit card purchases.
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.