Hodlnaut Review — Earn Crypto Everyday (2022)
Hodlnaut is a Singapore-based fintech startup that provides financial services to individual investors and crypto enthusiasts. Started in April 2019, Hodlnaut is quickly rising to become one of the most promising crypto lending platforms in Asia. Through its straightforward product offerings and dedicated support, Hodlnaut is on a mission to help hodl-ers get more yield on their digital assets easily.
If you’re in the crypto space, you’ve probably heard the term “hodl”. Infamously misspelled from the word “hold” by a crypto user back in 2013, it’s slang to depicts an act of holding cryptocurrency instead of selling it. Crypto users hodl their crypto in hope that the value will appreciate in the future, that way they can get more on their asset. But hodl-ing is not the only way to generate more yield, there are other ways to earn more from your digital assets, and you don’t even have to spend a dime on it.
What is Hodlnaut?
Started by two bitcoin maximalists Juntao Zhu and Simon Lee, Hodlnaut allows hodlers to get the most out of their cryptocurrencies. Through the platform, the founders aim to offer an alternative solution for hodlers where they can grow the productivity of their digital assets. Hodlnaut is able to offer attractive interest rates to users through Interest Account by lending the asset to vigorously vetted margin traders in the form of crypto loans.
The project is backed by some of Asia’s leading companies such as Sparrow, Singapore Management University, and BitGo. In addition, Hodlnaut is part of Antler’s portfolio company, a global VC firm backing early-stage startups.
In terms of credentials, Hodlnaut is a Certified Fintech company by the Singapore Fintech Association (a recognized credential by the Monetary Authority of Singapore). Furthermore, the company meets all the Digital Payment Token License requirements and has submitted all the necessary paperwork, and is currently in the review process for the Singaporean Standard Payment Institution License.
There are two main products that Hodlnaut offers. The Hodlnaut Interest Account and Institutional Loans, let’s have a look at each of the products.
Hodlnaut Interest Account: earn attractive interest on your cryptocurrencies
Hodlnaut Interest Account allows you to earn up to 8.3% annual return (APY). Interest is earned and paid out in-kind weekly every Monday. Currently, the platform supports five asset classes: Bitcoin (BTC), Ethereum (ETH), Dai (DAI), USD Coin (USDC), and Tether (USDT). The current interest rates offered at Hodlnaut ranging from 6.2% APY — 8.3% APY and as follows:
Users automatically earn the best interest rate available based on market demand and the previous month’s earnings. There is no minimum deposit and you can withdraw anytime. By depositing your cryptocurrency into a Hodlnaut Interest Account, you’re increasing the productivity of your asset without any hassle.
If you’re looking to earn even more from the current published interest rates, Hodlnaut offers higher interest rates to those who deposit over 100 BTC (or equivalent) with Hodlnaut Fixed-term Loan. The currently supported assets and interest rates for this VIP program are as follows: BTC at 6.7% APY, ETH at 7.2% APY, USDC at 10.5%. The fixed deposit rates are indicative and subject to change upon negotiations.
Hodlnaut Institutional Loans: obtain a credit line using your cryptocurrencies as collateral
You can borrow digital assets at some of the lowest rates in the market with Hodlnaut. With institutional clients, Hodlnaut can tailor the loan to fit the client’s specific business needs. In addition, Hodlnaut will be the counterparty for all loans.
Some snapshots of Hodlnaut Institutional Loans:
- Loans starting from USD 50,000
- You can choose between open terms or 3+ months fixed terms
- Flexible loan-to-value, 25% to 100%
- No hidden fees
The funds you receive from these crypto loans can be used to diversify your crypto investments or to finance your business needs. And because they’re generally structured in a more complex way depending on the lender, the terms and conditions may differ. Currently, crypto loans are only available to institutions and loans only and not to individuals.
How safe it is to HODL with Hodlnaut?
As centralized finance (CeFi) crypto lending platform, Hodlnaut requires all users to complete a Know-Your-Customer (KYC) verification process. This is to follow the regulation enacted by the Monetary Authority of Singapore (MAS).
In terms of platform security, it runs on secure Amazon Web Services (AWS) cloud infrastructure and using industry-grade SSL encryption. Furthermore, Hodlnaut encrypts and anonymizes as much data as possible on their servers. All users have the option and encouraged to enable two-factor authentication (2FA) for all account transactions in order to ensure higher security. The company has taken a security-first approach and there are no hot wallets at Hodlnaut.
In conclusion
With the price of cryptocurrencies such as Bitcoin increasing rapidly, there’s also a growing demand among hodlers and individual investors to grow their assets. With over $70m in assets from over 1000 users, Hodlnaut is positioning itself as one of the alternatives where users can generate yield on their cryptocurrencies in a safe and easy way. Supported by a small but dedicated team, Hodlnaut is ready to enrich the cryptocurrency ecosystem by providing crypto products that are attractive and innovative.
Sign up for a Hodlnaut Interest Account today and start earning more on yourJoin Coinmonks Telegram Channel and Youtube Channel learn about crypto trading and investing
