This Singapore-based crypto platform allows you to earn passively on your cryptocurrencies

Photo: Hodlnaut
Photo: Hodlnaut
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It looks like the world’s headed towards a digital ecosystem, from contactless payments becoming the norm and to even *checks notes* virtual weddings in the metaverse? Similarly, cryptocurrency has been gaining popularity, occupying headlines across the world and, rapidly, every single water cooler conversation. For those that haven’t hopped on the bandwagon, perhaps getting into the world of cryptocurrency might be something to tick off that list of new year’s resolutions.

The volatility of the cryptocurrency market can be intimidating, but perhaps earning passively on your crypto assets is something beginners would like to explore. One such way is through earning interest on your crypto assets and you can do this with Hodlnaut. It’s a platform that aims to become the first regulated entity in Singapore within the crypto lending and borrowing space, and we take you through the platform and its features. 

A safe and user-friendly platform

Instead of waiting for prices to appreciate, users can earn interest on their crypto via yield farming. It’s a different way to earn on your crypto assets, and is similar to earning an annual percentage yield on bank deposits. You can do it right from Hodlnaut’s handy app that’s available on iOS and Android. The app features a simple design that’s easy to use, but if you ever get stuck, there are how-to guides on navigating the app.

All you need to do is deposit your crypto funds and you can begin earning interest immediately. Users just have to sign up and pass the mandatory verification process to start depositing crypto. There’s no minimum deposit or lock-up period required and the platform promises weekly payouts every Monday at 5pm GMT+8.

The platform is certified by the Singapore Fintech Association, an accreditation recognized by the Monetary Authority of Singapore (MAS). At present, it is operating under an exemption by MAS. Security is of utmost importance, and Hodlnaut runs on a secure cloud infrastructure on Amazon Web Services, with all traffic encrypted with SSL encryption. Other security measures include two-factor authentication and a Withdrawal Whitelist feature—which allows you to create a list of known addresses to ensure that crypto assets in your Hodlnaut account are sent to only verified withdrawal addresses. 

Tips and tricks, all at your fingertips

Cryptocurrency is relatively new, having been around for only a decade and it can be intimidating for those just starting out. While it feels like there’s a steep learning curve, it can help to know you’re not alone, and that there’s a wealth of information available out there. It’s also good to check the latest crypto news, as well as crypto tips that cover a range of different topics. 

Different ways to earn

Hodlnaut wants to help users maximize their earnings through a few ways, namely through an interest account, tiered interest rates, and token swapping. If you’re not sure what these terms mean, you’ll want to read on for a breakdown of how you can get the most out of your cryptocurrencies through their platform.

Photo: Hodlnaut

Tiered interest rates

The company previously revised their interest rates to reflect current market conditions, introducing a tiered system which allows users to earn up to 12.73% APY from six supported assets, namely Bitcoin, Dai, Ethereum, Tether, U.S. Stable Coin and Wrapped Bitcoin. The platform has also reduced its withdrawal fees for some of the coins and are now allowing users one free withdrawal a month, so that you can maximize those returns. Check out the new interest rates in full here!

Swap tokens any time 

Like its name suggests, the Token Swap feature enables users to swap between token pairs straight from their platform. Users can make swaps between supported assets like Bitcoin, Dai, Ethereum, Tether, U.S. Stable Coin and Wrapped Bitcoin without additional fees. Users can swap tokens right from their Hodlnaut dashboard in an instant, and without the double fees usually incurred from conducting the trade in two steps.

That’s not all, as users can also wrap and unwrap Bitcoin without involving a merchant, which means more efficient transactions. It’s proving to be a popular feature among users, with the company reporting more than US$100 million in Token Swap transactions within six months since it was launched.

Deposit and earn interest in the cryptocurrency of your choice

This relatively new feature on the platform allows users to earn interest from the cryptocurrency of their choice. It offers users the flexibility to deposit any cryptocurrency from the aforementioned six supported assets, right from your Hodlnaut dashboard. Changes will be reflected pretty quickly, and you can even start earning interest in your preferred asset on the same day if you change this setting before 5pm GMT+8. 

Upcoming programs and campaigns

Hodlnaut will be rolling out lucrative new programs and campaigns in 2022, so keep your eyes peeled!

There’s a default referral program that allows you to earn 10% off your referees’ interest earned. Head over to their website to sign up for a free account. Happy Holidays!

Note: Coconuts Media is not a financial services company and does not provide financial advice. This article is part of a paid partnership with Hodlnaut and is for educational purposes only.

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