Many of us are on the constant lookout for ways to expand our income streams passively. While a 9-5 does bring you a steady stream of income, having additional sources of revenue can help you achieve your financial goals faster!
Apart from fiat currencies, one way to earn is through cryptocurrency investments. By buying into crypto, you will be able to earn when the prices appreciate. However, if you’re looking to earn more on your crypto investments, you can choose to deposit your crypto assets into interest-earning accounts. Though buying into cryptocurrency is indeed a form of investment, hodling them in such accounts is a smart way to grow your crypto holdings.
And with constant volatility within the crypto space, depositing your assets in a crypto interest-earning account can help you minimize the negative impacts of a market downturn.
The best part? All you have to do is open an account, deposit your funds, and watch your crypto grow!
There are a number of platforms that offer this service to crypto users and one to note is Hodlnaut.
What is Hodlnaut?
Hodlnaut is a Singapore-based crypto lending platform that offers financial services to individual investors where they can earn interest on their cryptocurrencies. It was founded in April 2019 by self-proclaimed bitcoin maximalists Juntao Zhu and Simon Lee with an aim to help hodlers maximize the productivity of their cryptocurrencies.
The platform is also recognized by the Infocomm Media Development Authority (IMDA) of Singapore and is part of Antler’s portfolio company, a global venture capital (VC) firm. Hodlnaut is also a certified Fintech by the Singapore Fintech Association, an accreditation recognized by the MAS (Monetary Authority of Singapore), and is actively undergoing license application with MAS to become the first regulated crypto lending firm in Singapore.
Why Choose to #HODLwithHodlnaut?
Earn High-Interest Rates
The Hodlnaut Interest Account is the platform’s key product, which allows users to earn favorable interest rates on their crypto assets. Users that sign up for an account would be able to receive up to 12.73% APY on six of its supported currencies: Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Tether (USDT), Dai (DAI), and Wrapped Bitcoin (WBTC).
Once deposited into the Interest Account, users will start earning interest immediately at a compounded rate. The interest is calculated daily and paid out on a weekly basis.
Moreover, there is no minimum deposit amount required or any additional fees when you deposit your crypto assets with Hodlnaut. However, do note there is a small withdrawal fee depending on the currency chosen.
You can check out the breakdown of Hodlnaut’s interest rates here.
Choose the Currency to Earn
Apart from the high interest rates that Hodlnaut offers, the platform comes with some of the most attractive features that allow you to have flexibility and control over your crypto assets.
One such feature is the Preferred Interest Payout function, which allows users to earn in the currency of their choice. This would mean that if a user decides to deposit in BTC, he can choose to earn in any of the other six supported currencies such as ETH, USDC, or even DAI.
With the feature in place, users are given the freedom of choice to choose the currency to earn in, allowing for a more flexible and personalized experience.
Swap Between Asset Pairs
Another feature worth noting is the Token Swap function.
With Token Swap, users can seamlessly swap and execute trades between asset pairs without leaving the platform. Users now have the ability to manage their portfolios and rebalance their asset holdings while preventing any double costs through this function.
And with the newly launched iOS Mobile App, users can easily use the Token Swap feature from the convenience of their iPhones!
Is Hodlnaut Safe?
When depositing your assets with a crypto lending platform, it is imperative to know the various features the firm has implemented to safeguard your funds.
For Hodlnaut, the company has put in place a number of measures to ensure that funds are secured. For one, all users are required to complete a mandatory KYC (Know Your Customer) process to verify their identity when creating an account. Users would also need to set up two-factor authentication (2FA) to prevent any potential hacks and scams. These two steps are pivotal in ensuring that any user signing up with Hodlnaut is indeed a real person.
Furthermore, Hodlnaut offers an optional Nexus Mutual Custody Cover to give users the choice of purchasing insurance on the funds deposited. And if that’s not impressive enough, Hodlnaut has teamed up with Fireblocks to implement private key security (MPC-CMP) and hardware isolation technology (SGX) to allow users to access their digital assets securely.
For a better overview of the platform, here are some of the pros and cons of Hodlnaut.
- High-interest rates
- No lock-in period or minimum deposit required
- Availability of iOS mobile app
- Deposits can be withdrawn at any time
- Weekly payouts to each user’s wallet
- Offers additional insurance
- Does not support fiat deposits
- No Android app
- Limited cryptocurrencies
If you have always wanted to find ways to earn more on your crypto assets, Hodlnaut is definitely a prime option. It has some of the highest interest rates of up to 12.73% and the inclusion of features that allow for a seamless experience. Plus, the quick signup process and user-friendly interface make it ideal for beginners too!
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