Lending platforms are not only a perfect way to earn interest on your Bitcoin, Ethereum, and stable coins but they are also much easier to use than complex DeFi products. They are so easy to use that really anyone, even the most inexperienced user in the crypto space who still has to learn the basics of crypto investing can use them to put their crypto to work.
When you have already read some of my previous posts then you know that I am not a maximalist of anything. I always try to be non-biased and to stay open mined, especially when it comes to discovering new projects. For this reason, I do not only have different coins and tokens in my portfolio but I am also using different cryptocurrency platforms like different crypto lending platforms.
Fund are SAFU
A few months ago, I signed up for HODLnaut, a cryptocurrency lending platform that is based in Singapour, a country that is famous for its strict restrictions on these kinds of platforms. Besides the fact that you can secure your account with a 2fa verification, this gives you the feeling that your funds are SAFU on HODLnaut.
Another more important fact that enhances this feeling is that they have very responsive customer service which you can rarely find in the crypto space. I mean, when I think of the poor customer service from their competitors or some cryptocurrency exchanges, it makes me upset. Anyone who ever tried to reach out to the customer service from Cinbase knows what I am talking about. So HODLnaut's customer service is something that really makes them stand out from other crypto services and it is something that I do appreciate very much.
From my experience so far, Hodlnaut has excellent customer service. The team is very responsive across all channels. Yes, across ALL their social media channels. You won't just receive a general prewritten answer. They will answer you individually to answer your question as precisely as possible.
As with all other cryptocurrency platforms out in the crypto space, HODLnaut requires you to do the KYC (Know Your Customer). I know that doing the KYC can not only be a real pain in the a** but also be very tricky. So it is possible that you will face the typical frustrations like not passing it on the first try. In this case, I recommend giving it another try. This leads me back to their excellent customer service. If you are facing any issues during the verification process for whatever reason, you can reach out to their customer service and they will do their best to help you out!
Highest interest rates
Another thing that I really like about HODLnaut is that it is working like swiss clockwork, literally. You can watch the interest that you are climbing up constantly like a clicking tock. While other people do not like Mondays because that is the start of the workweek, I have started to look forward to Mondays because every Monday, I receive my weekly interest payout from HODLnaut.
Because HODLnaut pays out your interest on a weekly and not on a monthly basis, you are able to compound much faster which leads me to another point. HODLnaut has the highest APYs in the crypto lending industry. This is another point that makes HODLnaut stand out from its competitors.
Swap feature and withdrawals
When I move my funds to a lending platform, I have the intention to keep my funds there for the long term which means at least one year. This has different reasons. If you want to start earning interest then there is also a time factor. If you want to earn interest on anything, you need to have time on your side. Another thing is that moving Bitcoin and Ethereum cost transaction fees and transaction fees on the Ethereum and Bitcoin blockchain are generally higher than on other blockchains.
There is a possibility to receive these transaction fees back if you use the links in this post when signing up for HODLnaut because you can get a sign-up bonus of $20 on top of your first deposit equivalent to $1,000 in one single transaction on any supported assets within one week. Bonus payouts are paid in the same asset deposited. You may make a test deposit of any amount. The deposit equivalent of $1,000 or more must be completed within one week of the first test deposit. To be eligible for the bonus you need to sign up using this invitation link. This will definitely cover the transaction fee for your deposit.
When you want to withdraw funds from your account, you also need to cover these transaction fees. If you want to withdraw from HODLnaut, you will have to pay a fee which is basically covering the regular transaction fee charged from the according-to-blockchain (Bitcoin or Ethereum blockchain).
This is something you need to keep in mind and that's why I do not recommend playing in and out games with your funds.
Instead, you can use their internal swap service. You can swap your coins directly on the platform for free. However, there is, like always in swapping, a spread but on HODLnaut there are no additional fees for swapping.
This feature allows you to go into stablecoins when Bitcoin has massively pumped and you want to secure your gains or to buy yourself back in when Bitcoin has dumped.
Athe the end of my post, I also like to mention that you can freely choose in which cryptocurrency you like to receive your interest payout on HODLnaut. For example, you can choose to receive the weekly interest payout that you are earning from your Bitcoin or Ethereum in a stablecoin.
My Final Words
I hope I could provide you with some interesting and useful information about the cryptocurrency lending platform Hodlnaut.
I would also like to know what lending platform you are currently using to earn interest on your Bitcoin and Ethereum or if you just hodl your funds in a wallet? It would be awesome if you would let me know in the comments.
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