What has happened with Celsius Network?
Introduction:
Unfortunately for many cryptocurrency investors that have invested in the cryptocurrency company named: Celsius Network, this is a dead company.
The platform works like ‘’Bitcoin bank’’ when investors receive weekly rewards only to store some cryptocurrencies in their platform.
However, after the Department of Financial Regulation made a good analysis of the financial situation of Celsius Network they decided that Celsius Network is deeply bankrupt, with many financial scandals.
In June, 2022 the platform had frozen the assets of its customers, who had millions of accounts and billions of dollars in them.
Nobody knows what the future of Celsius but at the present moment they are not facing a good moment in their lives.
We are in a bear market, and this is a decisive moment to separate beginners from advanced people around cryptocurrencies, NFTs, and Web 3.
But there is something we can learn with the fall of Celsius Network: ‘’If something sounds too good to be true, it’s probably fake or will never achieve the desired success’’.
Problems are happening to Celsius Network in the worst time:
The stablecoin Terra Luna caused a lot of individuals to lose money, which was terrible for a lot of projects.
However, the cryptocurrency platform called Celsius Network is disappointing investors all around the world as all the projects recover from this influence.
The Celsius Network group is turning their company into a complete disaster during this bear market under the pretext of stabilizing the market and attracting new investors to sign up on their platform.
The power of decentralization during this situation:
On the other side, we can see many new coins being listed on the decentralized Exchange named: Kucoin without much problems.
Kucoin has already solved the problem about the hacked system in the last years with good success, and has recovered from that problem.
Celsius Network have used the other problems to learn and get more success in their careers instead of judging being better than other Exchanges, and/or other cryptocurrency platforms.
A good solution to Celsius problems is:
Celsius Network needs to learn with one of the biggest minds alive today: Mark Zuckerberg.
After many problems with the Facebook company regarding Cambridge analytics the founder of the social media platform has decided to change the name of the company to Meta, with a new purpose to connect the future of the human people for a new digital movement, named: Metaverse.
Celsius Network doesn't have to change all the projects to Metaverse field, however; getting inspired and learning from the mistakes of other people is good to evolve not only as a cryptocurrency company but as a good human being too.
Learning with our mistakes is good, but if we can learn with others' mistakes it’s even better.
KyberSwap, Token Sniffer are helpful to avoid fake cryptocurrency projects:
Token Sniffer is a website with the purpose of detecting malicious contract addresses, and analyzing each token/coin helping new investors with their investments.
Always use Token Sniffer to analyze each token and/or cryptocurrency you are investing.
If the project is a scam the website will evaluate with a lower score like 1 point, 3 points, or other number.
But unfortunately, you can find only cryptocurrencies and/or tokens available on the platform and you can’t analyze blockchains.
For this reason, we have to use KyberSwap to help our evaluation during our investments.
You can invest in a variety of pre-launch tokens using Kyberswap using a variety of blockchains, including Ethereum, Binance Smart Chain, and many others.
The goal of Kyberswap is to store information to aid both novice and experienced investors in using a coin's technical specifications (such as price chart data and other features) to make a sizable profit.
The "Discover" tool will be added to the Kyberswap web application in 2022 to assist investors in identifying the next tokens that will yield significant returns.
Through Kyberswap you can swap tokens without difficulties and you can find some ways to earn more with your coins on that platform.
Always read CoinDesk articles to general information about cryptocurrencies:
Having strong information about cryptocurrencies, and NFTs is good to never being trapped to platforms like Celsius Network in the future.
They are providing in- depth articles related to cryptocurrencies, NFTs, and everything related to blockchain technology.
We don’t have to block our mind from the truth during a bull market or a bear market.
Everybody knows the success of Bitcoin, and Ethereum since many countries around the world are adopting Bitcoin as a legal tender, examples: El Salvador, The Central African Republic, and many others.
Due to this, it is wise for investors to spread the word more about successful coins and pay less attention to unpromising ones.
There is useful information to understand what we have to do during a bear market, and/or a bull market.
If you don’t feel much confidence to get more profits only by reading CoinDesk articles, a good opportunity is following @jollygreeninvestors, @greybtc, and other investors on Twitter, and doing your research based on their teachings
Never store all your money in only one platform:
Klaus Schwab, says: “In the new world, it is not the big fish which eats the small fish, it’s the fast fish which eats the slow fish’’ in the practical reality today to get good profits during a bear markets the trader must have to use right tools, and search for new listing happening in CoinGecko, CoinMarketCap, Kucoin, etc.
Technology is always evolving for this reason we must have to evolve our knowledge related to what we have learned in the past year, and take care of our business/investments.
For this reason to be good enough in the cryptocurrency market we must have adequate knowledge, and this adequate knowledge only comes from practice reading price charts, tweets, books, watching videos, etc.
Getting a good investment strategy to diversify our portfolio will be the tool to success in the financial market.
My links:
Follow me on Bitchute: https://www.bitchute.com/channel/mmMf5AG…
Follow me on Odysee: https://odysee.com/@Gameplays4You:8
Follow me on Rumble: https://rumble.com/register/J2podcast/
Use my Referral link on Rollercoin: https://rollercoin.com/?r=kusmgh54
Happy night for you!