225
When you want to feel in control of your finances, there are two ways to go about doing it. The first way is to build substantial wealth so that the astronomical sum of your assets puts you at ease every time you look at it. But for us ordinary mortals who are still struggling to build wealth, we need to be creative in how we can feel rich. I think my recent investment with Hodlnaut, a crypto lending platform in Singapore is one such way.
First things first, I will be transparent in saying that crypto withdrawals from Hodlnaut incur a transaction fee, something that might deter you from setting up an account with this start-up. I have detailed my reasons for opening a Hodlnaut account in spite of this drawback here, so I shall not dwell on my thought process.
For one, I appreciate how interest is accured daily and paid out weekly. This is especially so when the interest paid out is credited to my account every Monday at 5 p.m. sharp (GMT +8). I will receive an email from Hodlnaut that serves to update me on my interest gained for the previous week. I think it has an effect of alleviating those pesky Monday blues since I know that I have this interest payout to look forward to. Plus, when I log in to view my statement, I could see the amount of my assets not just in Bitcoin and Ethereum, but also in major fiat currencies like SGD, USD, GBP and EUR. I am not too embarrassed to admit that I spend an inordinate amount of time viewing my crypto portfolio in all the available currencies.
Another thing that thrills me is the live action ticker. Maybe it's just psychological effect, but I'm happy to see the numbers associated with the interest jump from second to second. It reminds me that although my assets are paltry, they are still worth something. I still benefit from compounding interest, so I feel motivated to work hard so as to increase my crypto portfolio as much as possible.
Next, this is the thing that grabs my attention the most. I quite like Hodlnaut's referral program. So when we manage to refer a friend successfully through our affiliate link, we will get 10% of our friend's earned interest every Monday. Yes, I do recognize that other crypto-lending platforms give out as much as USD$30-$40 Bitcoin for every successful referral, but I think this lifetime incentive has the potential of letting me gain more than US$30-40 Bitcoin eventually. Part of having an abundance mindset is having optimism, so I have hopes that I will earn a significant amount of commission if I play the HODL-ing game.
Are you intrigued by my method of having an abundance mindset? You may want to sign up an account with Hodlanut using my referral link. You will get a US$20 signup bonus if you make an initial deposit equivalent of US$1000 on any of the 6 supported assets - BTC, Wrapped Bitcoin, ETH, DAI, USDT & USDC.???
Word of Warning
This is the thought process I went through before opening up my account with Hodlnaut. This certainly does not qualify as financial advice, just my user experience. Please do your due diligence and assess your risk appetite to ascetain whether Hodlnaut is the right product for you. :)
Photo by David McBee from Pexels
