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Greetings PUBLISH0X community, today I want to introduce you to the newest platform I've started to use about 2 months ago. Hodlnaut is a leading crypto lending platform based in Singapore whose mission is to provide innovative financial services to cryptocurrency users. Users can either lend their crypto assets to the firm to get a fixed and competitive interest or swap any token supported on the platform without any fee. I will try to cover the features of Hodlnaut superior to other platforms, including both CeFi and DeFi. Now, let's start with some basic information.
What is Hodlnaut?
Hodlnaut is a platform founded in April 2019 by Juntao Zhu and Simon Lee, two Bitcoin maximalists. The main goal of these 2 friends is to provide a secure investment platform and let anyone can join the cryptocurrency ecosystem. On the other hand, Hodlnaut's founders aimed to bring bigger firms to interact with the crypto world which will help the crypto adoption in all terms. Nowadays, Hodlnaut has control over $230m worth of crypto assets as of April. The number of tokens supported on Hodlnaut platforms is 6 and they're the most promising currencies in the cryptosphere.
As a regular cryptocurrency owner & user, Hodlnaut offers me an untroubled lending experience. When we talk about institutions, Hodlnaut serves as a bridge between them and blockchain tech. They provide loans to the leading firms, therefore maximizes the utilization of deposited currencies while letting new faces appear in the crypto world.
After a brief explanation, let me start with how you register & use the Hodlnaut platform...
How to Use Hodlnaut?
Before that topic, let me clear something you may be interested in. The name ''Hodlnaut'' comes from the sum of Astronaut. I'm sure that you heard a lot of times these 2 terms while having time with other members of related crypto communities. The express such topic that is common slang in the cryptocurrency community, where it depicts an act of holding the cryptocurrency, in good times and bad, rather than selling it. And in my opinion, it explains the duty of Hodlnaut very well.
Now, let's start with the registration process. Because Hodlnaut is not a DeFi platform, you should register and complete some basic steps before you interact with their features. When you open the registration page, you'll be asked for your Name & Surname & email & password.
After that, you must set up a secondary security wall, Google2FA recommended. And as the last step before using the platform, you must complete the KYC process. It's mandatory because Hodlnaut manages over $200m and works with institutions. You may think that it's against your privacy but please be advised that this info won't be shared 3rd companies.
The KYC process includes 5 different steps to be completed. You should put the info regarding where you live, who you are, and a questionnaire. This process will be completed in some days that lets you start without wasting more time.
After you received the KYC confirmation email, you're ready to gain with Hodlnaut. You have 6 options to deposit and receive different APYs according to the token you deposited. The options are BTC, ETH, USDC, USDT, WBTC, and DAI. Three of them are stablecoins that make you earn up to 12.7% APY. On the other hand, the remaining three currencies' APY ratio is the same, 7.5% APY. Of course, you can find some other platforms that offer thousands of % APYs. Hodlnaut doesn't and won't offer the best but it lets you earn without any security issues.
I picked to deposit and try the platform. The deposit process lasts more than 1 hour that makes me surprise. But it's not related to the platform, it is due to the Bitcoin network. I haven't used the Bitcoin network for BTC transfer for some time. At the time of deposit, 1 BTC equals 45,000$. Now, it equals 47,500$ as of writing. I haven't swapped my BTC to any other supported tokens yet. Now, my deposit has grown about 1% in BTC and about 4% in terms of USD. That's great, actually! I only trusted them and now my portfolio has grown about 4%.
Besides holding crypto, you can swap tokens with one another without paying any fees. Some fee ratios currently being applied on crypto exchanges differ from 0.075% to 0.02%. In terms of fees, Hodlnaut is number 1. You can swap any time you want, and it's free. I decided to swap my BTC to USDC today. In such a way, I will realize my 4% gain and will start to accumulate rewards for USDC, in numbers. I just clicked the button and that's all.
To protect users, Hodlnaut sends an email to inform users that their assets have been converted to another currency. So, check your inbox after completing a swap.
After I swapped to USDC, now the interest ratio being applied to my assets has doubled nearly. But until I change my preferences, the interest payment token is still Bitcoin. You can change it from ''User Settings'' on the right corner.
If you're interested in Hodlnaut, you are given the chance to receive up to 1000$ in referral income exclusive for 1 month. Check the details below and be a Hodler with Hodlnaut
*This article is created to spread the awareness of Hodlnaut and its features by utilizing my own experiences. None of the words above contain any kind of investment advice! Please DYOR (Do Your Own Research) before investing.
**If you are interested in writing articles about ANYTHING on Publish0x, you can follow this
