Hodlnaut Earn Interest On Your Crypto

Ethereum

I believe you would already have heard of Hodlnaut. Hodlnaut is a platform that provides financial services for individual investors like you and me where we can deposit our cryptocurrencies and earn interest on our cryptocurrencies by lending it to corporate borrowers.

Until today, I still have problems pronouncing the word “Hodlnaut“. Why would the founders come up with such a geeky name?

Well, according to them, Hodlnaut is a combination of HODL and Astronaut! Hodl is common slang in the cryptocurrency community, where it depicts an act of holding the cryptocurrency rather than selling it.

I am not going to compare the differences between Hodlnaut, BlockFi, Celsius and Nexo as Seedly has written an excellent article to compare the differences and you can read up more there. The only difference I want to call out here is that Hodlnaut is a Singaporean company.

How Hodlnaut works?

  1. Deposit your Bitcoin or alternative coin to Hodlnaut.
  2. Earn compound interest on your asset.
  3. Receive payouts and withdraw funds.

Sounds simple?

How much Interest can I earn on Hodlnaut?

Below are the interest rates (APR/APY) that I have copied from my own account.

Hodlnaut Interest Rates 12 June 2021

Based on an APY of 6.2%, a deposit of 0.5 Bitcoin (BTC) with Hodlnaut will give you 0.03196155.

At the point of writing, 1 Bitcoin (BTC) is S$47,364.12. This means 0.5 Bitcoin (S$23,682) will give you a return of S$1,514 in 12 months.

But of course we know that the price of Bitcoin can either go up or down after 12 months so how much return is really based on the price of Bitcoin at that point in time.

Hodlnaut Bitcoin 12 Months Interest

Summary

If you wish to take a look at features that the Hodlnaut platform offers, they have a demo account where you can try it yourself for the look and feel.

I have signed up for my Hodlnaut account and deposited some Bitcoin and USDC into it. Interest is paid weekly and at the point of writing, the next payout is on 14th June 2021.

Unfortunately, Hodlnaut does not let you purchase crypto directly from their platform. Nevertheless, there are many platforms out there that let you purchase crypto. You can use either Coinbase or Crypto.com Exchange to purchase the coins and send it to your Hodlnaut account.

Join me on Hodlnaut now! If you sign up using my Hodlnaut referral link, you will receive a US$20 signup bonus after making an initial deposit equivalent of US$1000 on any of Hodlnaut supported assets. Bonus payouts are paid in the same asset deposited.

How I Made 13% Profit On Ethereum In 5 Days

Ethereum

Last month, the price of Ethereum rose 43.77%. I bought in at S$4,079.52 on 2nd May and sold it off at S$4,594 today on 8th May. Exactly 5 days, I made a nifty profit of 13% on Ethereum.

For those that are not familiar with Ethereum, it is the blockchain network in which decentralized applications are embedded. The token or currency that enables or drives these decentralized applications is known as Ether (ETH).

Ethereum has the second largest market capitalization after bitcoin. Will Ethereum continue to rise? Let us look at its potential and problems Ethereum currently is facing.

Ethereum Potential #1: Smart Contracts

Ethereum is a blockchain like Bitcoin. The difference is that it is programmable. A “Smart contract” a piece of code that is running on Ethereum. It is because of its programmable feature that makes Ethereum possible for a wide range of purposes such as payment and financial services.

Ethereum Potential #2: DeFi

DeFi is known as decentralized finance and I believe many financial bloggers have thrown their money into it. I have also used Crypto.com DeFi Wallet to stake and earn crypto.

Since Ethereum is programmable, it creates opportunities for creating financial products that are completely new.

Ethereum Potential #3: NFT

NFT stands for Non-Fungible Tokens. “Smart contracts” are pieces of code that are stored on the blockchain but they are actually worthless. NFT is a way to represent anything unique as an Ethereum-based asset. For example, NFTs provide a unique ID for a piece of digital art.

You can explore more of NFT on Crypto.com here.

Ethereum Problem #1: Slow Execution of Transactions

Ethereum has been plagued by the network inability to scale to meet growing demands. This resulted in high transaction fees and slow execution of transactions.

Ethereum Problem #2: Slow Migration to Ethereum 2.0

Ethereum 2.0 refers to a set of interconnected upgrades that will make Ethereum more scalable, more secure, and more sustainable. Personally, I felt the upgrades are slow and may lose out to competitors out there that are scaling faster then Ethereum.

Summary

There is a huge potential for Ethereum and we can see the prices reach new heights if it is able to solve its current problems. Having said this, investors should be caution that cryptocurrency is highly volatile and you need to be able to stomach the risks involved.

If you are keen to purchase Ethereum (ETH), Crypto.com Exchange is a good way to start for buying and selling Ether.

Sign up using my Crypto.com Exchange referral link and if you stake 5,000 CRO, you and I will each receive $50 in CRO.