Do you know that there are platforms in the market that allow you to grow your crypto assets while you HODL? These platforms offer high yields on Bitcoin and various crypto when you lend your digital assets through them. In this review, you will be introduced to an emerging crypto lending platform that offers one of the highest interest rates out there.
What is Hodlnaut?
Hodlnaut is a cryptocurrency platform based in Singapore that offers financial services to individual investors. Founded in 2019 by Juntao Zhu and Simon Lee, Hodlnaut is a promising platform backed by the global VC firm — Antler. Crypto enthusiasts and HODLers can maximise the productivity of their assets by earning interest on their crypto with Hodlnaut.
Features of Hodlnaut
The main feature of Hodlnaut is their interest account. Users can earn up to 12.73% interest APY on their crypto with Hodlnaut, with no minimum deposits or lock-in periods. Interest is paid out in-kind on a weekly basis every Monday.
If you are looking to earn more on top of the offered interest rates, Hodlnaut offers higher interest rates to those who deposit 100 BTC and above. To learn more about this, you may contact them at [email protected]
Another striking feature is Token Swap, which allows users to seamlessly swap between different asset classes. Users do not need to leave Hodlnaut’s platform if they want to rebalance their holdings, thus being able to save the double fees associated with conducting trade in multiple steps. Unfortunately, this feature is unavailable to Singapore users currently.
Interest Rates Offered
Holdnaut launched a tiered interest rate system in August 2021. The maximum annual interest rate returns for BTC is capped at 7.20%, while stablecoins can fetch up to 12.00% in annual interest. Here is a list of supported cryptocurrencies and stablecoins along with the interest rate and annual percentage yield for different tiers:
Hodlnaut constantly strives to offer the best possible rates to their users and their Interest rates are based on market demand and the previous month’s earnings. Hodlnaut is able to offer these attractive rates as they only lend out to vigorously vetted corporate entities with good credit scores.
All deposits are currently free of charge. Withdrawal fees are regularly adjusted according to blockchain conditions. The withdrawal fee structure was revised in August. The new withdrawal fees schedule is shown below:
Are Funds Safe with Hodlnaut?
Singapore FinTech Association has certified Hodlnaut as a FinTech company. For now, all requirements for Digital Payment Token License are met and paperwork has been submitted for review to get licensed under the Payment Services Act as a Major Payment Institution.
Hodlnaut requires all users to perform Know-Your-Customer (KYC) verification process to follow the regulations enacted by the Monetary Authority of Singapore (MAS).
As for the platform security, Hodlnaut runs on secure Amazon Web Services (AWS) cloud infrastructure and uses industry-grade SSL encryption. Data is encrypted and anonymized as much as possible onto servers. Users are also required to enable two-factor authentication (2FA) for account transactions. Additionally, funds are not stored in any hot wallets, thus ensuring high security.
With the engagement of an external auditor, Hodlnaut provides transparency of assets under management to its users. In the same light, Crowe Singapore has performed a financial attestation in April 2021 and verified that Hodlnaut has US$234M of crypto assets.
For further questions, you can check out their frequently asked questions (FAQ) section on their website. You may also drop an email to [email protected] or reach out to Hodlnaut’s official Telegram group via https://t.me/hodlnaut.
Hodlnaut is a great platform for investors to earn passive income in a safe manner. Their web interface is user-friendly and they have an upcoming iOS app launch, making it even more effortless for you to check on your funds. Hodlnaut also has fantastic customer service with a consistent track record of responding to query tickets within 24 hours.
To begin your interest-earning journey, you can create an account at https://www.hodlnaut.com/ and go through the standard KYC process.
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