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 (CN) users can expect the in-app swap feature to be enabled soon, which should bring massive liquidity to the platform.
The roll out will occur first for platinum users in the US and then work its way down the tier levels. International users will have to wait for a later date.
In December 2021, everyone should have access to the in-app swap.
The benefits of using the swap feature is that you can immediately start earning interest on your swapped coins/tokens and CN will not be charging a swap fee.
To be completely transparent, CN will also show the prices across many platforms before each swap transaction so users can determine the best deal.
There is a limit of 5 USD minimum to initiate a swap and a daily limit of 25000 USD. These limits are based on current beta testing and are subjected to change.
They are considering less restrictions for higher tiered members like platinum, gold, etc.
Current limits on swap: $5 minimum and daily limit of 25000 USD. These are beta limits and are subjected to change. They want more control over a new feature before increasing limits. This may change depending on your Celsius tier: plat, gold, silver, etc. More utility for owning CEL.
In order to add value to CEL, they have been doing weekly CEL burns. With a fixed supply, it is expected to boost CEL price.
The amount of CEL to be burned depends on how many users want to earn in CEL. The high the number, the more CEL needs to be burned.
New users default to earning in CEL, when applicable by law, so this should help increase the CEL burn.
Aside from CEL burn, Celsius Network is working with many institutions that are interested in cryptocurrencies by lending them cryptos. Net effect is better yield for Celsians.
Recently, CEL was listed on Bitstamp and they are actively looking for more tier 1 exchanges to list CEL.
As mentioned above, holding more CEL to attain platinum status may result in less restrictions and limitations when using other features in the app such as in-app swap.
Overall, there is momentum building up a massive CEL price movement and it will take come time to be realized.
The credit card still has an end of the year release date but I highly doubt it will happen. I predict it will be available early to mid 2022, but CN could surprise us with a nice Christmas gift.
Mashinsky is a fan of NFTs (non-fungible token) and so we can expect CN to have some NFTs in 2022. The hope is that people will store NFTs on Celsius Network and use it as collateral for loans.
CN is looking to host more coins in the wallet—even those that do not earn a yield. This should help boost the coins available for the in-app swap feature.
Stablecoins rates are up to 10.02% APR with no limits on the total amount. This rate applies to all stablecoins and does not require a lock up period.
There is high demand for stablecoins from institutions and hence the increased APR. In the past, CN was able to offer 12 to 15% APR on stablecoins so 10% is not a concern for sustainability.
So far, Celsius Network has paid over 1 billion USD back to the community. Remember that the interest paid back is all real, sustainable yield and not creating new coins out of thin air.
It has been 4 weeks since my last report on Celsius Network earnings and during that time my interest earnings gained over 1700 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 2% 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 they have been rising steadily.
You can use the Interest Rate Tracker to find the best APR rates across several platforms to fit your HODLing needs.
BTC is currently at 63.9k USD and ETH is at 4549 USD as of writing this report.
Conclusion & Prospect
CEL price has been stagnant and on the downtrend but after hearing all the proposed utility, my conviction remains strong for Celsius Network. It is tough to watch other coins and tokens soar in price while CEL price remains constant but remember I held on to CEL during the bear market and I am currently up a nice chunk.
Once the team fully implements these proposed changes, I think CEL price will explode. Now that crypto is entering mainstream, there are more regulations and rules being enforced. In addition, the platform is constantly growing and expanding. When you add everything together, it makes sense why certain features and products are taking longer to be released.
Regardless, I will continue to HODL with Celsius Network.
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.
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