There have been many exciting developments in the cryptocurrency world since it’s invented over a decade ago. The idea of cryptocurrency started because there is a need for an effective, decentralized, peer-to-peer network for digital currency without a central bank’s control. That idea has branched off to a few different movements within the cryptocurrency sphere. One of the headliners is crypto lending. It is an emerging niche that made its first appearance only a few years ago. By leveraging the blockchain technology, crypto lending offers a range of financial services that rival the traditional finance sector.
Many crypto lending platforms offer alternative solutions to individual investors who want to grow their crypto assets’ productivity. This is where a platform like Hodlnaut comes into the play. For quite some time, most people would hodl their crypto with the expectation that the value will be appreciating in the future. Hodlnaut offers an alternative solution to hodlers where they can generate interest while hodling, thus resulting in the growth of their crypto assets.
Hodlnaut is a Singapore-based startup offering financial services to individual investors where they earn interest from their cryptocurrencies by lending to institutions in the form of crypto loans. Users can deposit their crypto assets into an interest account and earn favorable interest rates. The platforms currently support three major cryptocurrencies: Bitcoin (BTC), Tether (USDT), and USD Coin (USDC). The offered annual compounding interest rates are 6.2% for BTC and 8.3% for USDT and USDC. Hodlnaut is also planning to support more digital assets on its platform in the near future.
Designed for individual investors to help them get the most out of their crypto assets, there is no minimum deposits or lockdown periods to hodl with Hodlnaut. All users automatically earn the best interest rate, depending on the market demand and previous month earnings. The platform has a straightforward signup process through its user-friendly interface that takes minutes to complete.
It’s good to note that Hodlnaut requires all of its users to complete a mandatory Know-Your-Customer (KYC) verification process. This is a response to the recently introduced Payment Services Act (Jan 28, 2020) enacted by the Monetary Authority of Singapore. Hodlnaut meets all the Digital Payment Token License requirements and has declared the intention to apply for the license. The company has submitted all the required paperwork and is currently in the reviewing process.
Hodlnaut is a brainchild of two self-proclaimed bitcoin maximalists and entrepreneurs Juntao Zhu and Simon Lee. Founded in April 2019, Hodlnaut is part of Antler’s portfolio company, a global VC firm backing the early-stage startups. Besides, the project is also backed by some of Asia’s leading institutions, such as Sparrow, Singapore Management University, and BitGo.
As for credentials, Hodlnaut is Certified Fintech by the Singapore Fintech Association (a recognized credential by the MAS) and a recognized Blockchain company by the Infocomm Media Development Authority (IMDA) of Singapore. With a mission to help hodlers earn attractive interest on their crypto assets easily. Hodlnaut is gaining momentum since its inception last year, with over 750 BTC currently under custody from more than 550 individual investors. Gradually earning popularity among crypto enthusiasts and hodlers, Hodlnaut is set to become a trustworthy platform in the crypto community that offers attractive interest rates, no-nonsense security features, and dedicated support.
