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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
Celsius Network (CN) Credit Card
This will be a credit card and not a debit card. Celsius Network will have plenty of competition as Crypto.com and BlockFi are also going to release a crypto credit card.
A debit card is easy to release but it goes against the HODL model which Celsius Network is built on—CN wants the community to sit on their hands and earn interest. A debit card promotes spending cryptos.
Traditional credit cards from banks and other providers are predatory and have high fees.
Celsius Network is committed to a credit card with the lowest interest rates and lowest fees—possibly no fees—while providing the highest rewards.
Users that have been denied a credit card due to bad credit scores can now obtain it via CN—using crypto as collateral—to start building credit.
The cards will first be released in the US, UK, and EU with beta starting in Q2 2021.
The hope is that all CN credit card users will have the same experience globally but the backend will be slightly different due to regulations from each nation.
Self Insurance
The self insurance covers loan defaults among other things and according to Mashinsky, is a high proportion of the total AUM whereas other insurances only cover the bare bones and comes with many limitations.
The plan is optional and CN users can choose to opt into it.
Opting into the self insurance program will reduce your interest earning on crypto deposits by 0.5%.
The 0.5% reduction on interest earning it placed into a self insurance pool and is built from the joint efforts of other community members who opted in.
The insurance fund/pool can be viewed by everyone for full transparency—similar to Bitrue’s insurance pool.
Exchange Listing For CEL Token
Celsius Network token will now be listed on 3 major exchanges instead of the initial 2 upon announcement.
They will be announcing the names of 2 exchanges on Friday March 12th, 2021.
Other Updates
Mass adoption is coming. We are starting to see a lot of companies wanting to buy Bitcoin (BTC) and crypto in general. Per Celsius Network, most of these companies have called them and asked them how they can add crypto to their holdings.
Interest rates on stablecoins have increased.
Current AUM (Assets Under Management) is around 8.75 billion USD.
Celsius Network pays roughly 8 million USD in interest payments every week to the community.
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 3800 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 11% in 4 weeks.
BTC is currently at 49.2k USD and ETH is at 1674 USD as of writing this report.
Conclusion & Prospect
CEL price has been hovering between 4 to 5 USD ever since its massive tear up at the beginning of the year. With all the good news coming, it is surprising to see the price of CEL move sideways and not reach new all time highs. However, I believe the price of CEL will follow once all these new products are released. The price of CEL was stagnant for 2 years before it stabilized at its current price.
I was excited about BlockFi’s credit card, but now I am super eager to see what type of product Celsius Network will deliver. CN has always put users and the community first, and they have consistently delivered quality products that benefit users without being predatory—such as having little to no fees. If they are able to release a credit card with high rewards and little to no fees, I will not be getting the BlockFi credit card. Crypto.com still has not provided an update on its transition from a debit card to a credit card, but CN will still have competition until the details are finalized from both platforms.
The self insurance plan is a wonderful feature to have. Even though I know that Celsius Network would be okay without it, it does provide an extra layer of protection to the community. The fee for the plan makes sense and is fair because it charges a percentage of your interest earning. Hence, users with larger deposits will contribute more because they have a higher amount of assets to insure.
With all the features and products being release by Celsius Network, I am confident that my funds are safe and protected. I will continue to HODL and earn my crypto.
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 this referral sheet which organizes everything into a simple chart—you can earn over 250 USD in bonuses!