Cryptocurrencies add a new degree of innovation to the evolution of money as a medium of trade, according to EconStor. A crypto interest account could be a way for you to dramatically increase your interest return rate, but these accounts differ from bank or credit union savings accounts. Before you decide to invest, it’s important to understand how crypto interest accounts work.
A cryptocurrency interest account allows you to participate in the cryptocurrency market while still earning income, similar to a typical bank savings account. A crypto interest account can help you earn income while keeping your coins safe, whilst gaining interest on them, if you’re interested in long-term cryptocurrency investing.
Hodlnaut is a cryptocurrency lending platform that allows investors to earn interest on their holdings by lending them to approved institutions. Recently, the company has reduced its withdrawal fees for Tether (USDT), US Stable Coin (USDC), Dai (DAI), and Ethereum (ETH). Hodlers can earn interest on any of the six supported crypto assets: BTC, DAI, ETH, USDT, USDC, and WBTC.
Withdrawal fees for the aforementioned currencies will be as follows as of 3 August 2021:
Hodlnaut previously offered a 6.2 percent APY for BTC and WBTC, a 6.7 percent APY for ETH, and a 10.5 percent APY for USDC, USDT, and DAI. The new rates, as well as the introduction of tiers, have been updated to reflect current market conditions.Users can now earn up to 7.5% APY on BTC and 12.73% on stablecoins.
Simply deposit any amount into your account and you will begin earning interest right away. Every Monday at 5 p.m. (GMT +8), interest is paid out. There are no minimum or maximum deposits, and all balances earn interest.
Hodlnaut is a platform that offers financial services to individual investors, allowing them to earn interest on their cryptocurrencies by lending them to corporate borrowers who would otherwise be unable to obtain crypto loans. Hodlnaut was founded in April 2019 by two Singaporean entrepreneurs. One of the founders, Juntao writes that as Bitcoin Hodl-ers, they wanted to create a product that allows Hodl-ers to earn long term interest.
Hodlnaut co-founder, Juntao, made his first Bitcoin purchase in 2015 and began doing spot arbitrages across various cryptocurrency exchanges. However, he was subjected to a hefty capital gains tax of 55% in Japan, prompting him to return to Singapore.
Juntao Zhu, who has an unwavering passion for Bitcoin, pitched his idea for Hodlnaut to Simon when they were introduced by a mutual friend in 2018. As a result, Hodlnaut, a crypto-borrowing and lending platform that assists investors in increasing the return on their assets, was born and officially launched. Instead of only profiting from off-price increments, cryptocurrency investors can now earn interest on their crypto and unlock its full value through yield farming.
Apart from their interesting startup story, the company’s name reflects the passion of the founders. The name Hodlnaut is a mash-up of Hodl and Astronaut. Hodl is a term used in the cryptocurrency community to describe the act of holding a cryptocurrency rather than selling it. By adding the shortened ‘‘naut’’, they demonstrate how they plan to take their investors’ interest account investments to the next level.
Earning APY on your cryptocurrencies with Hodlnaut is as easy as 1,2,3:
Hodlnaut’s main feature is their crypto interest earning account. Users can earn the highest possible return on six different digital assets: BTC, WBTC, DAI, ETH, USDC, and USDT. Hodlnaut has one of the highest interest rates on the market, with users earning up to 12.73% on their cryptocurrency. Furthermore, there are no lock-in periods or minimum deposits required to begin earning crypto interest, and users can receive their accrued interest weekly.
Aside from Interest Accounts, Hodlnaut also provides corporate loans. Clients can obtain a credit line using their crypto assets as collateral through crypto loans. Hodlnaut can tailor the loans to the client’s business needs, with loans starting at $50,000 and loan-to-value ranges ranging from 25% to 70%.
As you can see, cryptocurrency aims to give people control over their money and transactions in a secure and private manner. Depositing cryptocurrencies into an interest account is a great way to passively grow your cryptocurrency portfolio. As previously stated, it is critical to conduct thorough research before embarking on a new platform journey. Choose the platform that best meets your requirements.
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