As you most probably know by now, cryptocurrency market is very exciting because it might be the future currency and being a part of this revolution is always interesting. However, it is considered a risky investment and some might even called it "gambling".
Should I get involved in cryptocurrency?
If you have spare cash aside from your emergency funds, you can consider diversifying your investment portfolio into cryptocurrency. As long as you manage your risk well and only use money that you can afford to lose, you are good.
Which crypto-asset should I start with?
You most probably heard of Bitcoin as the king of cryptocurrency but it might not be a good starting point for you. If you are new to cryptocurrency, you need to spend time in this space to fully understand what it is and what problems they are trying to solve.
So while you do your research in Bitcoin and other altcoins, you can consider stablecoins first. Stablecoins are cryptocurrencies where the price is designed to be pegged to a cryptocurrency, fiat money, or to exchange-traded commodities. Meaning 1 coin = 1 USD. Most investors loan stablecoins to earn interest while waiting for the market to recover. And you will be surprised at how much interest you can get for loaning out your stablecoins.
Introducing Hodlnaut
Hodlnaut was founded by 2 local entrepreneurs and it is a Singapore-based start-up. They offer easy access to higher yields on crypto-assets such as Bitcoin, Ethereum and stablecoins such as USDT, USDC, and DAI.
They have also recently launched their iOS mobile app and Android is on the way too.
As you can see the image above, the interest that you will be getting is insanely higher than any bank’s interest. But be aware that the interest rates stated are subject to change according to market conditions. So you should start as soon as possible!
If you have been investing in the stock market, you will know that hitting 10% return on the stock market on an annualised basis is already no easy feat.
As a crypto investor myself, I know that I won’t be selling my crypto assets any time soon, especially that the bull market is just starting now. I think Hodlnaut is the perfect solution for investors like me (and maybe you) to put at least some of your crypto assets, including stablecoins, to earn crypto interest.
You can read up more on their official website but below are the points for you to consider:
Pros:
- No minimum or maximum amount for deposit and withdrawal
- High interest rate
- No lock-up period
- Ongoing MAS licensing application
- Fast sign up and verification process
- Easy to use interface
Cons:
- Relatively expensive withdrawal fees
- Limited variety of crypto assets
- Tiered structure that does not benefit big-time investors
BONUS: If you use this link to sign up, you can get US$20 signup bonus if you deposit US$1000 in a single transaction and within a 1 week timeframe of account approval!
