Interest accounts for DeFi products and digital currencies can be complex to understand so we answer your most frequently asked questions.
Hodlnaut is a Singapore-based platform that provides innovative financial services for individual investors who can earn interest on their cryptocurrencies. Founded by Bitcoin maximalists Juntao Zhu and Simon Lee in April 2019, Hodlnaut has grown tremendously over the years. Fun Fact: Our name is a combination of HODL and Astronaut! HODL is a common slang in the cryptocurrency community, where it depicts an act of holding the cryptocurrency, in good times and bad, rather than selling it.
Hodlnaut is based in Singapore, and is regulated under the Payment Services Act (PS Act) by Singapore Law. As of 16th March 2022, we are excited to share that we have received an in-principle approval (IPA) letter for a Major Payment Institution License in Singapore from the Monetary Authority of Singapore (MAS) under the PS Act and currently operating under an exemption given by MAS. Our token swap service offered by Hodlnaut Pte Ltd is the only regulated activity under the Payment Services Act. You can also check Hodlnaut Pte Ltd’s License status here: https://www.mas.gov.sg/regulation/payments/entities-that-have-notified-mas-pursuant-to-the-ps-esp-r; and our official press release on our website here: https://www.hodlnaut.com/press/hodlnaut-ipa-mas-license
Hodlnaut is committed to complying with Sanction Laws imposed by Sanction Authorities. Hodlnaut's services are not available where prohibited by either Hodlnaut's internal policies or by Sanctions Laws as updated from time to time; currently such places include the following countries: Iran, North Korea, Sudan, South Sudan, Syria, Cuba or any other country specified by the Sanction Authority. For more information please refer to our Terms & Condition https://www.hodlnaut.com/tos
We are currently unable to process any fiat deposits, and we only accept crypto deposits on our platform. Kindly purchase your preferred choice of crypto from an exchange first before transferring it over to Hodlnaut. Rest assured, we are working on a fiat on-ramp option to allow users to purchase crypto directly, and we strongly encourage you to upvote this feature request on our feedback page: https://feedback.hodlnaut.com/b/feature-requests/p/buy-crypto-on-hodlnaut-platform
We currently offer loans to institutions only. As they are generally structured in more complex ways depending on the borrower's needs, the terms and conditions may differ. Please contact us at email@example.com with a brief description of your company and the details of your loan, and we will get back to you as soon as possible! We do not provide loans to individuals at the moment.
Yes, you can sign up for a corporate account on our sign up page here: https://app.hodlnaut.com/signup/corporate If you are unsure of how to proceed, you may refer to our corporate account guide here: https://www.hodlnaut.com/crypto-guides/hodlnaut-corporate-account Once you have sent your documents via email, our RMs will assist you in your corporate onboarding.
Nexus Mutual Custody Cover is an optional smart contract cover that provides additional safeguards when users deposit their digital tokens with Hodlnaut. The Custody Cover is distributed via iTrust.Insure, who is working in partnership with Nexus Mutual and will act as a Broker and Claims Agent, managing any subsequent claims and is the Custodian of the NFT. Disclaimer: Please note that iTrust and Nexus Mutual are not entities regulated by the Monetary Authority of Singapore (MAS), and Hodlnaut is not licensed by the MAS to provide the optional custody cover, nor licensed to itself carry on any regulated insurance activities. For the avoidance of doubt, Hodlnaut, in providing the option to purchase custody cover on its platform, is in no way providing an insurance product. For more information please refer to https://itrust.insure/faqs
You can purchase Nexus Mutual Custody Cover through iTrust directly on Hodlnaut's platform by heading to 'Custody Cover' under your User Settings. You can also refer to our helpful Step-by-Step guide here: https://www.hodlnaut.com/crypto-guides/how-to-guide-for-buying-nexus-mutual-custody-cover-through-itrust
We lend out the assets we receive to established and vetted financial institutions and reliable decentralised protocols that pay an interest rate. As for the attractive interest rates, we analyse supply and demand on our available crypto assets to set our interest rates that adjust as market conditions change. Also, we take earnings from our previous months into consideration.
To create an account, you can sign up via our web app, iOS app, or Android app. You will need to complete our account verification (KYC) process and get approved before you can start depositing with us. You may sign up for an account here: https://app.hodlnaut.com/signup
You can access our demo account here: https://app.hodlnaut.com/demo
The Two-factor authentication (2FA) needs to be enabled in order to use Hodlnaut's services with an additional layer of security. Once you have downloaded the Google Authenticator app with your smartphone using the App Store or Google Play Store, kindly follow the steps below: 1) Click on “Enter a Setup Key” on Google Authenticator. 2) Go to the Hodlnaut App and click on "Click here to copy key". 3) Go back to Google Authenticator App and fill up the Account tab as Hodlnaut and paste the copied key to “Key” 4) Copy the Auto-Generated Code from the authenticator and paste it in the "Enter your 2FA token" field You can also refer to our guide with screenshots attached to better understand how you can set up your 2FA token on Google Authenticator: https://www.hodlnaut.com/crypto-guides/hodlnaut-2fa-explained
Thanks for signing up for an account with us! We're so excited to have you on board. KYC verification typically takes up to 3 - 5 business days to be completed by our compliance team. We seek your kind patience and understanding and we will get back to you on your application soonest possible. Should you not hear from our compliance team after 5 business days, you can drop us an email at http://firstname.lastname@example.org
We have 2 types of deposits: Open Term & Fixed Term. You do not have to lock in your funds to earn from our open term interest rates on your deposited funds. If you have larger deposits, you can choose to lock in your funds using the Fixed Term deposit feature to earn a higher interest rate compared to our open term interest rates.
We currently support three networks: Ethereum (ERC20) , Binance Smart Chain (BEP20), and Bitcoin (BTC). Kindly note that: 1. To deposit DAI, ETH, USDT, PAXG & WBTC kindly use the ERC20 network 2. To deposit USDC kindly use either the ERC20 or BEP20 network 3. To deposit BTC kindly use the BTC network Please ensure that you send your coins using the correct network. Any coins sent via the wrong network will not be credited and your coins will be lost.
Please ensure that you send your coins using the correct network. Any coins sent via the wrong network will not be credited and your coins may be lost. We strongly recommend that you send a small test transaction whenever you send coins to a new wallet to ensure that they arrive safely at the designated address. If you used the wrong network or sent it to the wrong address, your funds would not reach our Hodlnaut wallets. The Hodlnaut team may be able to assist you in the retrieval of your funds on a case-by-case basis, and the funds will be sent back to the wallet address that you originally sent the funds from. However, please kindly note that this process requires a lot of manual developer time and as such, Hodlnaut will be charging a Fund Retrieval fee of 50 USDC for this process. Kindly note that the fund retrieval process may take up to or beyond 10 business days depending on the difficulty of the retrieval.
No, we only accept cryptocurrency deposits at the moment. Though we do not support the buying of crypto using fiat currencies, our token swap feature allows you to buy and sell between all cryptocurrency pairs supported by Hodlnaut. You can refer to the guide: https://www.hodlnaut.com/crypto-guides/guide-token-swap-hodlnaut; or the video to understand how to swap tokens at Hodlnaut: https://www.youtube.com/watch?v=yUdZog27wP4
You can withdraw your cryptocurrencies held on open term at any time! You will need to enable your two-factor authentication (2FA) in order to withdraw. To withdraw an asset. You can simply follow these steps: 1. Login to your Hodlnaut Account 2. Go to Deposit/Withdrawal Tab 3. Select the Coin You Want to Withdraw 4. Enter the Required Details and Submit Your Request 5. Key in the 2FA Code to Withdraw Funds Hodlnaut will then send you an email to confirm your withdrawal. We usually process withdrawals almost instantly, but it might occasionally take longer depending on the size of the withdrawal amount. Do note that if you enable Withdrawal Whitelist, you will not be able to withdraw cryptocurrencies until the address is added to your withdrawal list. You will have to wait for 48 hours before we approve the whitelist to go ahead with your withdrawal. Additionally, you could also refer to our withdrawal guide: https://www.hodlnaut.com/crypto-guides/hodlnaut-deposit-withdrawal-travel-rule-guide
Once you have logged in to your account, click on the "Deposit/Withdrawal" tab. Select the cryptocurrency you would like to deposit and you will see your unique wallet address. Send any amount of coins from any wallet to your Hodlnaut address, and you will start earning interest automatically after the transaction is confirmed on the network.
Please refer to this article on how to withdraw your crypto funds via the Terra network: https://www.hodlnaut.com/press/hodlnaut-luna-terra-network Please note that the Memo field is not compulsory for withdrawal. However, there are some exchanges that do require you to include the Memo when depositing to that specific exchange. If your exchange requires you to include a Memo, please ensure that you do so. Otherwise, you may lose your coins and your coins may not be credited.
Currently, Hodlnaut provides you with the ability to redeem 1 free withdrawal per calendar month and this feature is available 30 days after your first deposit. Please note that the minimum withdrawal amount varies from asset to asset, and these are based on the respective withdrawal fees. The minimum free withdrawal amount must be greater than the withdrawal fees stated on our platform here: https://www.hodlnaut.com/fees. To redeem the free withdrawal, you would have to check the free withdrawal box to indicate that you would like to proceed with the free withdrawal. Kindly note that the calendar month for the free withdrawal will follow Singapore time (GMT+8). Please refer to our guide to find out more on how the free withdrawal works here: https://www.hodlnaut.com/crypto-guides/hodlnaut-one-free-withdrawal. If you have used your free withdrawal for the month, you can still make withdrawals of any amount by paying a small fee to do so. You can find out more about it here: https://www.hodlnaut.com/fees.There are no other hidden charges.
Kindly ensure that 30 days have passed since your first deposit to be eligible for the 1 free withdrawal per calendar month. If it has been more than 30 days, kindly remember to check the free withdrawal box to indicate that you would like to proceed with the free withdrawal. If you wish to redeem your 1 free withdrawal on the last day of the calendar month, please note that it is according to the Singapore timezone (GMT +8), to avoid accidentally redeeming your free withdrawal from the next month.
Yes, we do! You can invite new users to Hodlnaut by sharing your unique referral link. Both you (parent referrer) and new users (child referee) will be rewarded with 30 USDC each when the child referee successfully fulfils the requirements. Please note that you're eligible to participate in our referral program only after passing our verification process. You can find out more about our referral program here: https://www.hodlnaut.com/referral-program
Upon making an eligible deposit, go to the "Affiliate" tab on your Hodlnaut dashboard. On the top right hand corner of the page, you will see Bonus Unlock: <Date of payout> under Referred By. As you have applied the code during sign-up, you will be able to proceed with making the qualifying deposit.
You may view your whole transaction history by going to the “My Account” tab and scrolling down to the “Transactions” table. You will be able to export the table as a CSV file by clicking on the "Export" button. You may also download your transaction history as Monthly Statements in PDF format via the "User Settings" on our web app here: https://app.hodlnaut.com/user/account-settings
With our Internal Transfer Feature, users can quickly transfer crypto to their friends & family for free within our platform, saving time and money! To initiate an internal transfer, simply navigate to your crypto withdrawal page, select Destination as ‘Others’ and Network as ‘Hodlnaut (Internal)’. You will be prompted to select a purpose for your withdrawal. Scroll through the list and pick the most relevant option. Do note that the withdrawal whitelisting feature will still apply for internal transfers. You can refer to our internal transfer guide: https://www.hodlnaut.com/crypto-guides/hodlnaut-free-internal-transfer or our video tutorial: https://youtu.be/IbVKlvUyQCk
There are plans to introduce other crytpo assets and networks for deposit but we're unable to provide concrete dates for that right now. We strongly encourage you to upvote or raise a new suggestion for any asset or network requests on our feedback platform here: https://feedback.hodlnaut.com/b/asset-network-requests
The open term deposits without a lock-in period have different interest rates for the various tiers. To find out more about our tiered interest rates, kindly read this guide: https://www.hodlnaut.com/crypto-guides/tiered-interest-rates-explained
Interest is earned immediately after you deposit your cryptocurrencies into your Hodlnaut account. We take a snapshot of your balance every day at 5 pm (GMT+8) and calculate how much interest has been earned for that day. The total sum of the interest calculated for the week will be compounded weekly. Interest earned will be credited directly to your Hodlnaut account every Monday, 5PM (GMT +8).
By default, interest is earned and paid out in-kind (in other words, in the same cryptocurrency that you have deposited in Hodlnaut). However, with our preferred interest payout settings in "User Settings", you can also opt to earn your interest in another asset class! For more information, refer to our guide here: https://www.hodlnaut.com/crypto-guides/how-to-guide-for-preferred-interest-payout
To better understand how our interests are calculated at Hodlnaut, kindly refer to the guide here: https://www.hodlnaut.com/crypto-guides/how-are-interest-rates-calculated-at-hodlnaut You can also try our interest rate calculator tool to estimate the amount of interest earned for a particular asset for a specified time period:https://www.hodlnaut.com/interest-calculator
Our interests are calculated daily, compounded weekly, and paid out every Monday at 5PM (GMT +8). If you had deposited after 5PM (GMT +8), the interest would only be calculated the following day at 5PM (GMT +8). We take a snapshot of your balance every day at 5PM (GMT+8) and calculate how much interest has been earned for that day. The total sum of the interest calculated for the week will be compounded weekly and paid out every Monday at 5PM (GMT +8). Interest earned is credited directly to your Hodlnaut account. If you face any issues with your interest payout, kindly email us at email@example.com, enclosing a copy of your Transaction History in CSV format.
Interest rates are evaluated based on market demand and our earnings from the previous month. While Hodlnaut aims to keep the interest rate stable, it is subject to change. Our interest rates might be updated once a month based on the prevailing market conditions. We will definitely inform our users beforehand if we are planning to adjust our rates in the future!
Our Fixed Term deposit feature allows you to earn higher interest rates on larger deposit amounts when you lock up your crypto assets with Hodlnaut between 28 to 180 days. Kindly refer to our step-by-step guide on how to utilise the feature: https://www.hodlnaut.com/crypto-guides/hodlnaut-fixed-term-deposit
The open term deposits without a lock-in period have different interest rates for the various tiers and the rates in Tier 1 are most attractive. To find out more about our tiered interest rates, kindly read this guide: https://www.hodlnaut.com/crypto-guides/tiered-interest-rates-explained However, the fixed term deposits allow users with larger deposits beyond the 1st tier to earn better interest. There is no limit to how much you can deposit and the longer you lock-in, the higher the interest rates applied. To find out more about our fixed-term deposit, kindly read this guide: https://www.hodlnaut.com/crypto-guides/hodlnaut-fixed-term-deposit
To better understand how our interests are calculated at Hodlnaut, kindly refer to the guide here: https://www.hodlnaut.com/news/how-are-interest-rates-calculated-at-hodlnaut
You may swap between any asset pairs supported on Hodlnaut's platform instantly and seamlessly. You can refer to the guide: https://www.hodlnaut.com/crypto-guides/guide-token-swap-hodlnaut ; or the video to understand how to swap tokens at Hodlnaut: https://www.youtube.com/watch?v=yUdZog27wP4
A token swap involves swapping one crypto token to another crypto token. Swap between any asset pairs supported on Hodlnaut's platform instantly and seamlessly. Find out more here: https://www.hodlnaut.com/crypto-guides/token-swaps-what-are-they-and-how-do-they-work
Users can enable the Withdrawal Whitelisting feature to restrict crypto withdrawals to a list of known addresses only. For more information on how to enable our withdrawal whitelisting feature, kindly refer to our how-to guide here: https://www.hodlnaut.com/crypto-guides/how-to-enable-hodlnauts-withdrawal-whitelist-feature
We partnered with Fireblocks to provide our users with next-generation private key security (MPC-CMP) and hardware isolation technology (SGX). These methods result in multi-layer security, which eliminates a single point of failure and insulates digital asset transfers from cyber-attacks, internal collusion, and human error.
At Hodlnaut, we take a security-first approach, and we do not use hot wallets (which are vulnerable to online attacks). Instead, we use Fireblocks' multi-party computation wallet infrastructure where each user will be assigned a unique address generated by Fireblocks. When cryptocurrencies are deposited with Hodlnaut via the unique address given to our users, they are received through the Fireblocks' secure wallet infrastructure. On the backend, Hodlnaut will either transfer the cryptocurrencies to our self-custodied cold wallets or lend them to borrowers.
The platform runs on a secure cloud infrastructure on AWS, and all traffic is encrypted with SSL encryption. We encrypt and anonymise as much data as possible on our servers. Additionally, we use industry-standard algorithms for password hashing and procedures. We also require Two-Factor Authentication (2FA) when users log in to their account or make crypto withdrawals. Rate-limiting and Captcha security measures are implemented on certain account operations, such as your login attempts.
These are some of the measures we implement to secure our IT infrastructure: 1) Using secure AWS cloud infrastructure and encrypting all traffic with SSL encryption. We no longer support legacy encryption methods with known vulnerabilities. 2) Ensuring servers and services are continuously monitored and run the latest security updates. 3) Making sure that internal-facing applications have separate access controls and are not exposed to the public internet. 4) Ensuring that our engineers get real-time alerts to solve any issues immediately. 5) Designing our infrastructure and features to be reliable and scalable. 6) Usage of firewalls to keep our network secure Additionally, we have IT security tools such as intrusion detection to detect unauthorised access to our systems and data. Our domains are protected with DNSSEC to prevent certain types of man-in-the-middle attacks. All server connections are logged and require multi-factor authentication. Direct password authentication, as well as public connections, is not possible. We also conduct periodic Vulnerability Assessment and Vulnerability Testing (VAPT) on our infrastructure to strengthen our security position.
Hodlnaut users can get optional custody cover for their funds through Nexus Mutual’s Hodlnaut Custody Cover smart contract at a small premium. Through our partnership with iTrust, users may purchase the Custody Cover provided by Nexus Mutual on Hodlnaut's platform by heading to 'Custody Cover' under your User Settings. You can also refer to our useful Step-by-Step guide here: https://www.hodlnaut.com/crypto-guides/how-to-guide-for-buying-nexus-mutual-custody-cover-through-itrust
As with any investment, we recommend all prospective users to form their own opinion when it comes to investing and the risk involved. Feel free to look through our demo platform, FAQs section and guides to understand Hodlnaut better. If you have further questions or concerns, you may reach us at firstname.lastname@example.org.
We have incredibly stringent capital requirements of our counterparties. In any case, we are very selective with whom we lend out to. We only lend to corporate entities with good credit scores, and the Loan-to-Value (LTV) Ratio of our loans is usually 70% or lower. For this reason, the risk of default is very low. Like most DeFi products out there, we lend out to more than one counterparty to reduce counterparty risk.
In the very unlikely event that the borrower defaults and fails to return the borrowed asset, we may liquidate the borrower’s collateral and repurchase the borrowed funds. We also have a robust legal contract in place with each of our borrowers, and may take legal action to recover the funds if necessary. Furthermore, in an event a default happens, Hodlnaut will be taking on the loss and paying our users from our equity funds.
Kindly note that you can reset your 2FA via our mobile app or web app by following the steps below: 1. On the Login page, kindly enter your email: https://app.hodlnaut.com/login 2. Once you have entered your email successfully, you will be prompted to enter your password and your 2FA Token code. Click on the “Reset 2FA?” button at the bottom of the "Welcome Back!" page. 3. You will be taken to the "Confirm reset 2FA" page. Click on the "Reset 2FA" button. 4. An email will be sent to your registered email address with instructions on how to complete an identity verification process before we proceed to reset your 2FA. This process is put in place to keep your account safe and for us to ensure that the 2FA reset request was legitimately raised by you. 5. Once you have satisfactorily completed the identity verification process, our team will proceed to reset your 2FA for you and you will receive a confirmation email once this is done. We have created a useful video tutorial here: https://youtu.be/45LyJMGuh00 which you could refer to for the resetting of your 2FA. You can also refer to our guide here: https://www.hodlnaut.com/crypto-guides/hodlnaut-2fa-explained with screenshots attached to better understand how you can set up your 2FA token on Google Authenticator!
Please refer to our helpful guide on how to: 1. Set up 2FA 2. Troubleshoot if your 2FA code is invalid https://www.hodlnaut.com/crypto-guides/hodlnaut-2fa-explained
Please ensure the following when keying in your phone number: 1. Ensure that your country of residency and country code matches 2. Avoid using auto-fill 3. Remove any spaces, periods and dashes 4. Do not copy and paste your phone number into the fields directly 5. Do not enter your country code when keying in your phone number The country codes are automatically generated according to your country of residence. You will only be able to register a phone number from your country of residence. Should you continue to face issues with receiving an OTP, please reach out to us at email@example.com and we would be happy to help!
Please ensure the following when keying in your phone number: 1. Ensure that country of residency and phone number matches 2. Avoid using auto-fill 3. Remove any spaces, periods and dashes 4. Do not copy and paste your phone number into the fields directly 5. Do not enter your country code when keying in your phone number The country codes are automatically generated according to your country of residence. You will only be able to register a phone number from your country of residence. Should you continue to face issues with getting your number verified, please reach out to us at firstname.lastname@example.org and we would be happy to help!
The customer support team responds to support tickets sent via email promptly within 24 hours on weekdays. You can also reach out to the team via our live chat and they will respond within a few minutes during business hours. Alternatively, you can also raise your questions in Hodlnaut's Official Telegram Chat where Hodlnaut's admins and community members are very active: https://t.me/hodlnaut
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