Investing in cryptocurrencies like Bitcoin and Ethereum can sometimes give users a roller coaster feeling, due to the high price fluctuations. While the stock market provides you with a way to earn interest even if the stock price is done by investing the same way we wait for an option in the crypto market.
Hodlnaut, an app that allows crypto investors to earn interest by holding their cryptocurrency investment in a savings account, was created to resolve the same problem.
During an exclusive interview with TheCryptoUpdate, the Hodlnaut team talks about how the platform was invented and what they hope to accomplish in the coming years.
1) How would you define your asset platform?
Ans: Hodlnaut is a cryptocurrency lending and borrowing platform that allows individual investors to earn an additional yield on their crypto holdings. At present, Hodlnaut supports six assets, namely, BTC, ETH, USDC, USDT, DAI, and WBTC. Users can earn up to 9.41% APY on their crypto assets when they deposit them with us. Furthermore, there are no lock-up periods and minimum deposits, making it easy for all crypto investors to use.
2) How is your platform different from other asset management platforms/competitors?
Ans: For one, Hodlnaut is a borrowing and lending platform based in Singapore, and we have also received an in-principle approval (IPA) for a Major Payment Institution License in Singapore from the Monetary Authority of Singapore (MAS) under the Payment Services Act (PS Act) for the Token Swap feature.
We also offer some of the highest rates of up to 9.41% APY on six supported assets. Plus, the platform is equipped with features such as the Token Swap and Preferred Interest Payout function to allow users to maximize their crypto earnings. The former enables users to swap between asset pairs seamlessly at no cost, while the latter allows users to earn interest in the currency of their choice. These products offer added flexibility and give users more control over their portfolios.
Additionally, Hodlnaut prides itself on its excellent customer service. Users can reach out to the team via the support emails and our official Telegram chat and social media account. We typically reply within one business day to ensure users’ queries and questions are answered. Furthermore, before launching any product or making changes to the platform, we constantly ask and reach out to our users for their feedback. To us, we put our users as our top priority, and we continuously implement features and changes based on their feedback.
3) What different features does Hodlnaut offer than competitors?
Ans: As mentioned before, Hodlnaut has a Token Swap function that allows our users to swap between asset pairs seamlessly and at no cost. Moreover, to increase the success rate of token swaps amidst a volatile market, our Token Swap also comes with a Market Order Execution feature that instantly fills the token swap order.
We also have a Preferred Interest Payout function that lets users deposit crypto with Hodlnaut while earning interest in the coin they choose. This gives users more flexibility and control over their cryptocurrency earnings. Previously, users could only receive interest in-kind, meaning they would receive the interest in the same asset in which it was deposited.
Hodlnaut also offers Fixed Term Deposits where users can lock up their cryptocurrencies for 30, 90, or 180 days to earn higher interest rates. Users can benefit from higher rates the longer they lock their Fixed Deposits with Hodlnaut.
4) Why do you think users should choose your platform?
Ans: Besides offering some of the highest interest rates among our competitors, Hodlnaut has also received an in-principle approval (IPA) for a Major Payment Institution License in Singapore from the Monetary Authority of Singapore (MAS) under the Payment Services Act (PS Act) for its Token Swap feature. We are the first among our competitors to achieve this in Singapore, giving our users added trust in us.
Moreover, the Hodlnaut platform is designed for convenience and catered to all crypto investors, from newbies to pros. All you have to do is sign up for an account, pass the KYC verification process and start depositing. There are no additional fees, and interest will be paid out every Monday at 5 pm (GMT+8). This is one of the easiest, most fuss-free ways to earn additional passive income on your crypto assets.
5) With what vision and mission did Hodlnaut start?
Ans: Founded in April 2019 by self-proclaimed bitcoin maximalists Juntao Zhu and Simon Lee, the company has a mission to help users get the most out of their crypto assets. The co-founders saw the opportunity for yield-generating products within the crypto space and decided to launch Hodlnaut to help other users earn passive income on their crypto assets.
6) What is your platform trying to achieve in the future?
Ans: We aim to be a platform that allows all crypto users to maximize the potential of their crypto assets in the easiest, most convenient way possible. By having a suite of valuable and value-adding products coupled with some of the most attractive interest rates and excellent customer service, we believe Hodlnaut is on its way to achieving its goal.
7) Any new product or service launches in the coming days?
Ans: Hodlnaut is preparing two big launches for the year – its Fiat-on-Ramp and Retail Lending in the quarter or so. The former will allow users to deposit fiat directly onto the Hodlnaut platform. This will allow for a more convenient process of depositing users’ funds onto the platform instead of transferring them via an exchange or external wallet.
Conversely, the latter will enable retail users to take on crypto loans with us. Currently, Hodlnaut only supports corporate loans, and with this new feature, retail users can also borrow from the Hodlnaut platform.
8) When do you think the portfolio management will launch on Hodlnaut?
Ans: We are always looking to launch new products to help value-add our users. As such, we have already launched the Token Swap and Preferred Interest Payout functions to help our users diversify their portfolios. Hodlnaut always aims to be a one-stop platform for users’ crypto needs, and we are exploring the implementation of portfolio management though there is no specific timeline yet.
9) What is your target audience?
Ans: We target crypto users of all levels. So whether they are beginners or already have been in the space for some time, our platform is catered to all types of users who own crypto. The user-friendly platform is ideal for beginners since it is easy to navigate around. Furthermore, users that have just gotten into the crypto space would likely opt for more accessible methods to generate additional yield on their crypto assets, and they can do so by depositing their funds with us. As for the pros, they can store a portion of their crypto funds on their platform to earn additional yield while using the rest for other activities of their choice.
The crypto industry holds greater potential due to the high volatility, just like the stock market opened doors to let investors hold their money and earn income without suffering heavy losses. Hodlnaut has yet to launch its portfolio management and scheduled swaps, making it interesting to see how users will utilize them.