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Earning 10% interest rates on your cryptocurrencies with Hodlnaut - ZZ Review
If you are looking to earn daily interest on your cryptocurrencies, you might want to consider Hodlnaut. Hodlnautis a cryptocurrency lending platform enabling investors to earn interest from their cryptocurrency holdings. The company aims to help holders get the most out of their crypto assets and currently has a 20% month-on-month growth rate. Based in Singapore, the company has maintained consistent interest rates on both cryptocurrency and stablecoins irrespective of the changing market conditions. (This post contains affiliate links and I may receive a small bonus when you sign up with Hodlnaut).
Hodlnaut is a secure and trusted platform with a seamless and easy-to-use interface. As of April 2021, Hodlnaut has a verified US$243M of Crypto assets under management independently verified by Crowe Singapore. Hodlnaut currently offers the highest interest rates to their customers based on returns, as high as ten per cent on stablecoins, and six per cent on bitcoin. Based in Singapore, and with a Singaporean team, customers in Singapore as well as other countries can have the assurances of stricter regulations by the Monetary Authority of Singapore (MAS).
At the present moment, Hodlnaut has a total of more than 5000 users with a total managed value of about USD300 million based in cryptocurrencies.
I registered an account with Hodlnaut to try it out in May 2021. As usual, I was required to go through the KYR to identify myself as a credible person before Hodlnaut activated my account. This process of verification took about slightly less than two days. What was great was that I received regular email updates from Hodlnaut on my progress in the meantime. When my account was activated, I received another email, and my account was ready to be used.
As you can see from the diagram, I shifted some of my Bitcoin over to Hodlnaut. Interestingly, the "Pending Interest Payout (BTC)" is a ticker that continues to increase over time.
Also, the payment is done every few days (three days based on what I see), thereby giving me a little more flexibility over other competitors such as BlockFi, where interest is only paid out on a monthly basis. (E.g. if you do not hit the one-month period, the accrued interest from your cryptocurrency might not be paid out).
I have yet to test this with other cryptocurrencies but I would believe that this is also the same.
For the page on Deposits and Withdrawals, you can see a simple page where your deposit address is being shown (cropped out for security reasons). Here, Hodlnaut is clear to mention that the digital tokens deposit are entitled to interest with the interest rate variable at the sole and absolute discretion of the Company, and that you consent and grant the rights to Hodlnaut to use the digital tokens that is deposited to you at the discretion of Hodlnaut.
Hodlnaut also offers an Affiliate page where you can provide a referral link or invite link to your friends to sign up with them. You will get 10% Commission and your friend will get a US$20 sign up bonus when they make an initial deposit equivalent to US$1000 on any of the supported digital assets. Bonus payouts are paid in the same asset deposited.
Hodlnaut recently declared the completion of an independent verification exercise done by Crowe Singapore (a global audit firm) that verified the cryptographic AUM of Hodlnaut to be $234,230,478.90 as of April 12, 2021. The recent financial attestation is the second third-party verification of Hodlnaut’s cryptographic assets after the first one, which was performed on January 5, 2021.
“With our latest independent verification exercise, we’re aiming to provide transparency of our assets under management to our users regularly. It’s all about building trust in this industry, given the number of illicit companies and activities occurring,” said Juntao Zhu, CEO, and Co-founder of Hodlnaut.
He further added how important it is to be transparent regarding the legal requirements for getting the Standard Payment Institution License under the Payment Services Act (PSA). “Engaging an external auditor at a later stage is a crucial step and a mandate by PSA under the Monetary Authority of Singapore.”
Hodlnaut also recently announced a partnership with Fireblocks, a leading enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks uses the next-generation private key security (MPC-CMP) and hardware isolation technology (SGX) to create multi-layer security, which eliminates a single point of failure and insulates digital assets from cyber-attacks, internal collusion, and human error. Fireblocks is a leading enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables banks, fintechs, exchanges, liquidity providers, OTCs, and hedge funds to securely manage digital assets across a wide range of products and services. The technology consists of the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves over 250 financial institutions and has secured over $400 billion in digital assets. Fireblocks has a unique insurance policy that covers assets in storage & transit and offers 24/7 global support.
In conclusion, Hodlnaut is an up and coming crypto startup with very competitive interest rates for your cryptocurrencies without compromising liquidity. Other than offering the best rates, they are also based in Singapore and regulated by the Monetary Authority of Singapore, which will provide another layer of assurance for investors.