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 (CN) Online Web App
The long-awaited web app version of Celsius Network was originally planned to be released to everyone on April 18th, 2021
Currently it is only available to ambassadors according to Mashinsky.
The most recent Ask Mashinsky Anything (AMA) put a public release date of May 24th, 2021—but that may also be subjected to change.
The web app will have similar functions to the mobile app, but can display more data and information due to increased screen capacity.
Proof of Community
The concept of proof of community is to be fully transparent to the Celsius Network community.
It will be a decentralize way for CN to be fully transparent as every transaction will be logged onto the blockchain and can be verified by anyone.
Blockchains are built to be immutable and transparent and is the basic building block for cryptos.
Celsius Network hopes that by being fully transparent that they will encourage—and possibly set the standard—other companies to also follow suit.
Although Proof of Community was announced earlier this year, it is scheduled to be release in late May or early June 2021. However, it will be available to beta testers starting May 6th, 2021.
In-App Swap (CEL Swap)
Another big feature that everyone is looking forward to is the ability to swap/exchange crypto within the Celsius Network app because Mashinsky promoted that it will have little to no fees for swapping tokens/coins.
The target release is set for May 2021, but it has been pushed back several times.
In a recent AMA, Mashinsky said they will try their best to have something ready in May 2021.
Recent Data Breach
In early April 2021, scammers used an elaborate scheme to send emails and text messages to possible Celsians requesting seed phrases and passwords in exchange for a 500 USD bonus.
Unfortunately, some Celsians fell victim for the scam. Mashinsky and the CN team created a Celsians Care Fund to help victims of the recent scam.
You can help donate to the fund using BTC, ETH, or CEL, and Celsius Network will match each donation at a 1:1 ratio.
Miscellaneous
Mashinsky predicts that Bitcoin (BTC) price for 2021 will hit 140k to 160k USD before correcting back below 100k USD.
Celsius Network recently partnered with OKEx so that is another exchange where you can get CEL.
Accredited investors in the US can begin earning interest in CEL starting June 2021.
There is a chance that CN might add a lockup feature with an incentive of higher interest rates.
CN is still exploring ways to expand CEL utility. Currently, it has two main uses: earn more interest and pay less interest on loans. As demand and volume increases, CEL may be used as a collateral asset.
Cardano (ADA) and Binance (BNB) are will be added to CN in the next couple of months.
So far, Celsius Network has paid back around 500 million USD to the community in interest.
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 11,500 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 23% in 4 weeks.
BTC is currently at 57.5k USD and ETH is at 2941 USD as of writing this report.
Conclusion & Prospect
Celsius Network continues to grow at a rapid rate as the AUM is consistently growing in the billions. In early April 2021, CEL almost hit 8 USD before correcting back down to the 6 USD level and it has been moving sideways since then. I believe the recent data breach and scam spooked some investors and it is understandable. A platform’s security is only as strong as its weakest link.
I did not get an email, but I did receive a text message from the scammers. I knew something was off because in all my years with Celsius Network since 2018, I have never received a text message from the platform regarding promotions. This should serve as a reminder to verify all the information you receive and never ever give out your password or seed phrases to anyone.
Mashinsky was open about the breach and I am glad they created a Celsians Care Fund and are matching contributions. Like someone suggested, they should implement anti-phishing codes in all correspondents moving forward to prevent scams like this from happening again. Most centralize finance (CeFi) platforms, Crypto.com and Bitrue, that I use already have this security measure and I hope Celsius Network will consider doing the same.
There is a lot in the pipelines for Celsius Network and it is evident given the amount of release dates being pushed back for several features. I am a little disappointed in the delays, but I would rather have a smooth release without many bugs and fixes. In one of the AMA, Mashinsky said they had to delay some releases due to security issues. I would rather have a safe and secure product than one that is rushed and unsecured.
I have very high hopes in Celsius Network and I can definitely see the dedication with each week’s AMAs. I love that they always put the community first and I wish them all the best with the upcoming releases. As a Californian, I look forward to finally getting my 1% loan from Celsius Network soon!
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.