Celsius Network Progress Report (Free) 📈
HODLer's Den By Aromatic (Free Version)
Twitter | Starter Pack | Reddit | YouTube | Patreon | Store Front | 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
Update
During one of the AMAs (Ask Me Anything), Celsius Network (CN) announced that CEL will be listed on a major exchange in February 2021.
CN has paid out over 146 million USD in interest to the community.
Cardano (ADA) will be added to Celsius Network in the second quarter of 2021.
Celsius Network just crossed 7 billion USD in assets and it has plenty of room to grow in 2021.
The web app of Celsius Network is currently in beta testing and is expected to be release at the end of February or early March 2021.
The demo during the AMA is very promising and it is going to be loaded with additional features that is not available to the mobile app.
Exciting news for Celsians. Even more peace of mind once Celsius Network launches its self insurance plan for all users.
Money & Inflation
Before money, we used to barter and trade for goods.
Coins were invented to hold value to make things convenient.
Eventually we switched to bank notes—pieces of paper that hold value but is not backed by gold.
20% of all US dollars were created in 2020 alone.
76% of all money has been printed since 2008 until now.
This means that all the money you have been saving has lost 76% of its value due to inflation.
You work hard to earn your money, yet money can be printed with ease.
Use Money To Make Money
Banks want to keep yield a secret from the public to prevent us from making money on money.
Banks earn very high interest by giving out loans using your deposit but pay you nothing in return.
Celsius Network is bringing yield to the people so we can make money on money like the banks.
Crypto Taxes
CoinTracker is the recommended crypto tax app to help you with crypto taxes.
It is fully integrated with Celsius Network app and should provide a seamless process during tax season for handling your crypto taxes.
You should have received your 1099 from CN by now if you earned more than a certain amount in interest payments. You can reach out to CN or request your tax documents via the app.
Wall Street Rant
You cannot beat wall street because the rules are rigged to begin with.
If you want to win you need to have a fair playing field where everyone gets an equal chance and the rules are known by all.
Robinhood app, among several other brokers, sided with hedge funds instead of the people by preventing users from buying more shares of GameStop (GME) while providing hedge funds time to close their shorts.
The crypto space is a place that provides equal chance to everyone and the rules are set in place.
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 1822 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 5% in 4 weeks.
BTC is currently at 40.1k USD and ETH is at 1722 USD as of writing this report.
Conclusion & Prospect
There is a lot in the pipeline for Celsius Network and I am excited for what is to come. Even with the news, CEL price has been hovering between 4 to 5 USD after its massive tear up near the end of 2020 and early 2021.
The demo of the web app showed us what it is capable of and that it is able to offer way more features compared to the mobile app. Even though it was a live demo, everything went smoothly without any problems. It is still in beta testing, but I am loving what I saw.
With everything going on with Wall Street, migration over to crypto would be the next logical step. As Mashinsky mentioned, Wall Street is rigged and you cannot beat them at their own game. The only way to win is to play where the game is fair and everyone gets an equal chance to succeed.
Earning a yield on money is amazing and it has been kept from the people for long enough. Continue to HODL strong in 2021, earn that interest, and you will have a better 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 this referral sheet which organizes everything into a simple chart—you can earn over 250 USD in bonuses!