Celsius Network Progress Report (Free) 📈

HODLer's Den By Aromatic (Free Version)

Nov 17, 2020

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.

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Celsius Network

CEL Token

The Celsius Network Token, CEL, has been doing phenomenal in the past 4 weeks with its price going over 2 USD. As the price of CEL remains above 1.5 USD, the community and investors are worried about a massive dumping of CEL tokens due to the price target which enables employees to access their share of locked CEL.

The price of CEL has been over 1.5 USD for 10 days so technically employees are entitled to their share. However, the good news is that 100% of employees have agreed to lock up their share for another 3 years. This means less CEL will enter the market which is good for CEL holders because it will not dilute the market and reduce CEL price. Employees can always take out a loan against CEL if they need money. Overall, the selling pressure will be low even though CEL is above 1.5 USD.

Bitcoin

Paul Tudor Jones, a billionaire hedge fund manager, recommends investing in Bitcoin (BTC) because it is like gold and is a deflationary asset. He considers BTC to be the best deflationary asset due to its underlying characteristics and hence serves as an inflation hedge. Originally, he said BTC lacked integrity but that everyday this statement is changing for the better.

This is a reminder that 20% of all money printed was done so this year alone in the United States during the coronavirus pandemic—this equates to 20% inflation. The government will say that there is no inflation because they only compare differences in prices of goods and products, but not money.

When you invest in BTC, you are investing in the smart people that are dedicated to keeping it alive. It is comparable to investing in Google or Steve Jobs of Apple in the early days. Tudor stated that, “We’re in the first inning of Bitcoin.” This should give you confidence to invest in BTC because the big guys are just starting to invest and to place their chips on cryptocurrency.

PayPal

Speaking of big companies, PayPal’s involvement in crypto is a big move and should attract plenty of attention from many investors. This is a bullish signal for BTC and crypto in general. Ultimately, PayPal’s move into crypto might have caused a domino effect: more and more big companies will follow suit resulting in an acceleration of crypto adoption. When discussing crypto adoption in the future, PayPal’s move may be considered a giant move that turned the course of events favorable for crypto.

ETH 2.0

Ethereum 2.0 is expected to be release in December 2020 in which ETH switches from Proof-Of-Work, like BTC, to Proof-Of-Stake. If you have 32 ETH, you can start staking on the ETH 2.0 network. Otherwise, there are around 15 projects that can stake on your behalf but they charge a fee. Since the ETH 2.0 network pays income on these staking nodes, the yield for ETH will have a minimum.

Celsius Network (CN) will blend and average the staking fee, institutional fee, and exchange fee together to give users the best yield rates possible. If you stake with other services, you may only be getting the staking fee. CN states that it will provide two options for ETH deposits: a regular ETH wallet and an ETH 2.0 wallet that utilizes the new protocol. Note that deposits made into ETH 2.0 will be locked up for 2 years due to rules of the protocol and will be earning what it dictates. The good news is that CN will not be charging a fee to stake your ETH 2.0 per Mashinsky—you will get your entire earnings.

Update & DNS Issue

Celsius Network recently updated its DNS (Domain Name System) and in the process went down for roughly a 24-hour period. With the recent event of CredEarn’s bankruptcy, many users panicked that CN was heading in the same direction and worried about losing their funds. However, everything is back to normal and CN continues with business as usual.

CN now manages over 2.2 billion USD worth of assets and it will continue to grow rapidly as BTC and other cryptos continue to rally and appreciate. In light of the DNS issue, CN only suffered a 5 million USD net negative withdrawal week-over-week. The Celsius Network team is humbled that so many users still trust CN as they were expecting a higher number of withdraws. Even though CN was down for 24 hours, the price of CEL did not crash 50% or more because of the strong community and trust in the platform.

As a token of appreciation, they provided a new promo code: “DNS”. Take advantage of this promo immediately if you can: enter the code in the app and deposit at least 200 USD worth of supported crypto asset into your account and hold for 30 days to earn 25 USD worth of BTC.

Finally, some good news for US customers because some of us will soon be able to earn our interest in CEL on all of our assets. Eligibility requirements to become an accredited investor have recently been modified. In a couple of weeks you can go inside the Celsius Network app and it will determine whether you are eligible to be an accredited investor or not. Please note that CN does not make the final decision—they will be working with a third party company to determine your qualifications.

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 3623 USD. The price of CEL increased exceptionally and that is reflected in my Total Earnings. 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 41% in 4 weeks and I could not be happier with my investment portfolio!

BTC is currently at 15.9k USD and ETH is at 457 USD as of writing this report.

Conclusion & Prospect

The CredEarn bankruptcy spooked a lot of HODLers, myself included. Like Mashinsky said, any bad news for crypto is bad for adoption and it affects everyone who believes in crypto. Remember that these interest-earning platforms are extremely nascent compared to traditional institutions like banks that have been around for over a century. With developing platforms there is always risk involved and it serves as a reminder to diversify and spread that risk. However, investors get rewarded if the platform performs well—you have to decide your own risk-reward tolerance.

Despite the recent events with DNS, Celsius Network has been performing extremely well. This is reflected by the current gains in my CN portfolio. In just 4 weeks, my account earned a record 3623 USD, amounting to a 41% increase. The majority of my portfolio is CEL and with the recent price increase, it makes complete sense why my portfolio grew as much as it did.

Celsius Network was transparent throughout the DNS issue which was followed by an AMA (Ask Me Anything) that addressed it in detail. In addition, they are giving users 25 USD worth of BTC for depositing 200 USD as an apology for the incident.

With plenty of things in the pipeline for Celsius Network and big players beginning to invest in the crypto space, I am excited to see where CEL and BTC will take us. Mashinsky set a target price of 20k USD for BTC by the end of 2020 and it looks like we may hit that target anytime now.

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 100 USD in bonuses!

This is part of the FREE subscription package that goes out to hundreds of investors. I also have a paid subscription package which includes exclusive content and insights. To really get the most bang for you buck, check out my bundle packages through Patreon.

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