Hodlnaut, the easiest way to earn crypto interest

The first thing you see when you land on the hodlnaut site, is the proclamation that hodlnaut is the easiest way to earn interest on your crypto. It’s a big statement to plaster front and centre, so I wanted to see if that was truly the case.

In a low interest rate environment such as the one we’re in, only an idiot will leave (too much) money in the bank. Everyone’s scrambling for yield somewhere. Anywhere. Equities, properties, commodities. Almost every asset class is up.

Crypto assets are still attempting to recover from a ~50% correction after a spectacular run-up in the first half of the year, and as of this writing, Bitcoin is again flirting with $40K. So yes, I’m personally looking forward to the second half of the year, and seeing bitcoin touch 6 figures.

But I digress. In this post, I’ll share with everyone my experience with Hodlnaut. It helped that I also read a review from turtleinvestor before I decided to give it a try.

What is Hodlnaut?

First of all, Hodlnaut is not an exchange or a spot buying platform. They are a platform for you to earn interest on your existing crypto assets.

So in that sense, you’ll have to deposit crypto from another wallet into Hodlnaut, and use it to either earn interest right away, or swap the assets that they provides access to.

In other words, it is a crypto interest account, with no lock-ups and withdrawal limits.

Hodlnaut is made in Singapore

Eh, support local lah! Hodlnaut is based out of Singapore, founded by Zhu JunTao and Simon Lee. It was born out of Antler, the startup accelerator in 2019.

It was great timing too, given how quickly crypto has grown since then. In 2 short years, they have grown to holding on to over $US250M in AUM! That is some impressive growth figures.

Signing up for Hodlnaut

The sign-up process was a rather simple one. Follow the instructions to create and account. Following that, you’ll be asked to provide some documentation for KYC (Know Your Customer) purposes.

If you have your NRIC and an official letter (dated recently) with your name (as in NRIC) and address, you should be able to complete the entire KYC process in under 5 minutes.

So far, so good.

Once that is done, the ball is on Hodlnaut’s court to process and verify your identity. On the website, it says that it takes about 1 – 2 working days to complete. Mine took about 4 working days cos of a huge backlog of applications to sort through.

But a simple email to support and I was good to go. Support was also very responsive, and within the same day, I got an email reply, and also got verified.

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Sign up with hodlnaut using my referral code and get a US$20 sign-up bonus when you deposit $US1,000 or more.

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Crypto deposit

The next step, once I got verified, was to log into the platform, and deposit crypto. Again, this is not an exchange or a purchase platform, so you’ll need to have crypto already existing on another platform to transfer over.

I decided to move some funds over from Crypto.com. Don’t worry guys, I still love you for the Netflix and Spotify rebates!

I copied my bitcoin address from hodlnaut, and proceeded to send some funds over. The entire process from transfer to the funds being available on Hodlnaut was about 10 minutes in total.

And just like clockwork, the funds started working hard, earning me interest right from the get go.

There was no need to send the funds anywhere, or do anything else once the assets were deposited. In other words, they worked exactly like a bank. But better.

Another interesting aspect of this interest earning account, is that you can view your interest accruing in real time!

Hodlnaut interest rates

Here’s a look at the prevailing interest rates they provide based on the assets deposited. The awesome thing is, in a new feature just released, you’re able to choose which asset to earn interest in!

For example, if you have deposited ETH, but want to earn interest in BTC, you can do that now!

Hodlnaut also published a post for a more detailed explanation on the tiered interest rates.

Hodlnaut referral code

For those of you who are keen to give this a try, do use my referral code by signing up using the button below. Using my code, together with an initial deposit of USD1,000 or more, you’ll instantly get a US$20 sign up bonus, as I did with mine.

Concluding thoughts

Unlike some other platforms that have lots of bells and whistles, I love the simplicity of the fact that it’s meant to do one thing, and one thing really well.

Help you make yield on your crypto.

For those looking to do just that, I would say Hodlnaut hits the spot.