Hodlnaut Says Latest Feature Waives Fees for Monthly Withdrawals

Photo by Executium on Unsplash

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Hodlnaut, a Singapore-based crypto-borrowing and lending platform, has recently announced it will provide users with a free withdrawal every month.

Having begun as a one-off initiative, the free monthly withdrawal feature has now been permanently included in Hodlnaut’s platform, a decision that reiterates the company’s aim to continuously improve user experience. These withdrawals apply to a host of 6 prominent cryptocurrencies, which include key contenders like Bitcoin (BTC), Ether (ETH), and Dai (DAI).

All users who have signed up, passed the know-your-customer (KYC) verification process, and deposited into their accounts are eligible for Hodlnaut’s latest feature. For new users, there are additional requirements. 

Requirements for New Users

1. The 1 free withdrawal per calendar month feature will only be enabled 30 days after the new user’s 1st deposit. 
2. No minimum amount is required for the 1st deposit. However, new users will be able to receive a $20 signup bonus when they use a referral link and deposit $1,000 in a single transaction as their 1st deposit or within 1 week from their 1st deposit.
3. A new user who withdraws within 30 days of the 1st deposit will be charged the withdrawal fee.

Things To Note

• Each user who meets the requirements is entitled to one free withdrawal per calendar month. 
• Once the feature has been enabled, the withdrawal fee will be automatically waived. 
• A calendar month begins from the 1st day of the month to the last (e.g., 1st to 31st Dec. 1 to 31 and 1st to 28th Feb. 1 to 28 are both considered 1 calendar month).
• Because this initiative started Nov. 16, the 1st calendar month for the 1st free withdrawal is Nov. 16 to 30. 
• New users who deposit on Nov. 16 will only be entitled to a free withdrawal during the December calendar month after Dec. 16. 
• Subsequent calendar months will take into consideration the start and end dates of the month (for example, Dec. 1-31).
• The months and days will be followed based on Singapore Time (GMT+8).
• The feature is currently only available on the website. It will soon be released on the iOS and Android mobile applications. Users will be informed when it is available. 

About Hodlnaut

Hodlnaut is a crypto-based interest and loan financial services company with a mission to help investors get the most out of their cryptocurrency investments. Hodlnaut states that it provides investors with some of the most competitive interest rates in the cryptocurrency world, some of which amount to an annual percentage yield (APY) of up to 12.73%.

Hodlnaut operates in a niche space in the crypto world. Instead of building exchanges like Coinbase Global Inc. COIN or running mining operations like Marathon Digital Holdings Inc. MARA, Hodlnaut is a company focused on creating passive income streams for cryptocurrency investors.

With more than 10,000 users and $500 million in assets under management, Hodlnaut aims to become the 1st regulated entity in Singapore within the crypto lending and borrowing space and is undergoing the license application process under the Payment Services Act of 2019.

"We are always looking for ways to improve users' experience on the platform. With this new feature, we believe it would further encourage new and existing users to deposit with us," said Juntao Zhu, co-founder, and CEO of Hodlnaut.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.