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Hodlnaut FAQs

Interest accounts for DeFi products and digital currencies can be complex to understand so we answer your most frequently asked questions.

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About Hodlnaut
Who are we?

Hodlnaut is a Singapore-based platform that provides innovative financial services for individual investors who can earn interest on their cryptocurrencies. Founded by Bitcoin maximalists Juntao Zhu and Simon Lee in April 2019, Hodlnaut has grown tremendously over the years. Fun Fact: Our name is a combination of HODL and Astronaut! HODL is a common slang in the cryptocurrency community, where it depicts an act of holding the cryptocurrency, in good times and bad, rather than selling it.

Does Hodlnaut have any regulatory license?

Hodlnaut is based in Singapore and ruled under Singapore Law, which introduced the Payment Services Act 2019 (PS Act) on the 28th of January 2020. We are currently undergoing our license application under the PS Act with the Monetary Authority of Singapore (MAS) and currently operating under an exemption given by MAS. Our token swap service offered by Hodlnaut Pte Ltd is the only regulated activity under the Payment Services Act.https://www.mas.gov.sg/regulation/payments/entities-that-have-notified-mas-pursuant-to-the-ps-esp-r

Are there any countries restriction?

Hodlnaut is committed to complying with Sanction Laws imposed by Sanction Authorities. Hodlnaut's services are not available where prohibited by either Hodlnaut's internal policies or by Sanctions Laws as updated from time to time; currently such places include the following countries: Iran, North Korea, Sudan, South Sudan, Syria, Cuba or any other country specified by the Sanction Authority. For more information please refer to our Terms & Condition https://www.hodlnaut.com/tos

Product & Services
Do you offer crypto loans?

We currently offer loans to institutions only. As they are generally structured in more complex ways depending on the borrower's needs, the terms and conditions may differ. Please contact us at rm@hodlnaut.com with a brief description of your company and the details of your loan, and we will get back to you as soon as possible! We do not provide loans to individuals at the moment.

Can I buy or sell cryptocurrencies with Hodlnaut?

Though we do not support the purchase or sale of crypto using fiat currencies, our token swap feature allows you to buy and sell between all cryptocurrency pairs supported by Hodlnaut.

Do you have a mobile app?

Our iOS app is available for download on the Apple App Store, while our Android app is availabe for download on Google Play Store. Currently, we are also available as a web application accessible using any internet browser, and our platform is mobile-optimised.

Can I deposit fiat currencies into Hodlnaut?

No, we only accept cryptocurrency deposits at the moment.

Can I open a corporate account with you?

Yes you can! Please reach out to us at rm@hodlnaut.com and we'll get you started!

What is Nexus Mutual Custody Cover?

Nexus Mutual Custody Cover is an optional smart contract cover that provides additional safeguards when users deposit their digital tokens with Hodlnaut. The Custody Cover is distributed via iTrust.Insure, who is working in partnership with Nexus Mutual and will act as a Broker and Claims Agent, managing any subsequent claims and is the Custodian of the NFT. Disclaimer: Please note that iTrust and Nexus Mutual are not entities regulated by the Monetary Authority of Singapore (MAS), and Hodlnaut is not licensed by the MAS to provide the optional custody cover, nor licensed to itself carry on any regulated insurance activities. For the avoidance of doubt, Hodlnaut, in providing the option to purchase custody cover on its platform, is in no way providing an insurance product. For more information please refer to https://itrust.insure/faqs

What cryptocurrencies does Hodlnaut support?

We are currently accepting deposits in BTC, DAI, ETH, USDC, USDT, WBTC.

How can I purchase the custody cover for my deposits?

You can purchase Nexus Mutual Custody Cover through iTrust directly on Hodlnaut's platform by heading to 'Custody Cover' under your User Settings. You can also refer to our helpful Step-by-Step guide here: https://www.hodlnaut.com/crypto-guides/how-to-guide-for-buying-nexus-mutual-custody-cover-through-itrust

The Business Model
Why do people borrow from Hodlnaut?

The partners who borrow from us mostly use it as a hedge against the Bitcoin prices or market-making on their platform/exchange. Some of our partners also approach us for liquidity. Their needs mostly depend on their business functions.

What is our business model?

We earn interest income by lending crypto to established financial institutions and reliable decentralised protocols. Hodlnaut takes a small portion of the interest earned from these sources and passes the rest to our users!

How can we afford to pay such attractive interest rates?

We lend out the assets we receive to established and vetted financial institutions and reliable decentralised protocols that pay an interest rate. As for the attractive interest rates, we analyse supply and demand on our available crypto assets to set our interest rates that adjust as market conditions change. Also, we take earnings from our previous months into consideration.

Getting Started
How do I create an account?

To create an account, you can sign up via our web app or our iOS app. You will need to complete our account verification (KYC) process and get approved before you can start depositing with us. You can sign up for an account here: https://app.hodlnaut.com/signup

Are there any fees involved?

We only charge a small withdrawal fee to cover network fees. There are no other hidden charges. You can find out more about our withdrawal fees here: https://www.hodlnaut.com/fees

Is KYC mandatory for me to start earning interest?

Yes, all accounts have to go through the KYC verification process and get approved in order to start earning interest.

I have completed KYC. Why have I not been verified yet?

Thanks for signing up for an account with us! We're so excited to have you on board. KYC verification typically takes up to 3 - 5 business days to be completed by our compliance team. We seek your kind patience and understanding and we will get back to you on your application soonest possible. Should you not hear from our compliance team after 5 business days, you can drop us an email at mailto:support@hodlnaut.com

How do I set up the Google Authenticator App to enable 2FA?

The 2FA needs to be enabled in order to use Hodlnaut's services! Kindly follow the steps below: 1) Download the Google Authenticator app with your smartphone using the App Store or Google Play Store 2) Use your Google Authenticator app to scan the QR code generated by the Hodlnaut web app during the signup process 3) Input the 6 digit pin generated by the Google Authenticator into our Webapp to enable the 2FA You can also refer to the guide here: https://www.hodlnaut.com/crypto-guides/hodlnaut-2fa-explained

Deposits and Withdrawals
Are there any lock-in periods?

No, you don't have to lock in your funds to earn interest, and you can make a withdrawal any time.

I just deposited some coins, why hasn't it shown up on the statements?

If you deposited your coins after 5 PM (GMT +8), the balances would take some time to show up on your statement. Kindly check your statement after 5 PM the following day to see your updated balances.

When and how can I withdraw my cryptocurrencies?

You can withdraw your cryptocurrencies at any time! You will need to enable your two-factor authentication (2FA) in order to withdraw. To withdraw: 1. Click on the "Deposit/Withdrawal" tab and scroll to "Withdrawal". 2. Enter the Recipient's Name and Address or click on saved addresses. 3. Enter the amount you would like to withdraw and click "Submit" 4. Enter the 2FA code generated by your Google Authenticator app as prompted Hodlnaut will then send you an email to confirm your withdrawal. We usually process withdrawals almost instantly, but it might occasionally take longer depending on the size of the withdrawal amount. Do note that if you enable Withdrawal Whitelist, you will not be able to withdraw cryptocurrencies until the address is added to your withdrawal list. You will have to wait for 48 hours before we approve the whitelist to go ahead with your withdrawal.

Is there a withdrawal limit?

For accounts that have passed the KYC verification, the maximum withdrawal limit is capped at 100 BTC per day.

What network should I use to deposit my coins?

To deposit your BTC, kindly use the Bitcoin Network. To deposit ETH, WBTC, USDC, USDT and DAI, kindly use the ERC20 Network. Please ensure that you send your coins using the correct network. Any coins sent via the wrong network will not be credited and your coins will be lost.

What happens if I send my coins using the wrong network or to the wrong address?

Please ensure that you send your coins using the correct network. Any coins sent via the wrong network will not be credited and your coins will be lost. We strongly recommend that you send a small test transaction whenever you send coins to a new wallet to ensure that they arrive safely at the designated address.

How do I deposit my cryptocurrencies into my interest account?

Once you have logged in to your account, click on the "Deposit/Withdrawal" tab. Select the cryptocurrency you would like to deposit and you will see your unique wallet address. Send any amount of coins from any wallet to your Hodlnaut address, and you will start earning interest automatically after the transaction is confirmed on the network.

Can I deposit fiat currencies into my interest account?

No, we only accept cryptocurrency deposits at the moment. Though we do not support the purchase or sale of crypto using fiat currencies, our token swap feature allows you to buy and sell between all cryptocurrency pairs supported by Hodlnaut.

Does crypto interest pay weekly?

The interest is calculated at the end of every day, and is credited to your account every Monday, 5PM (GMT +8). Interest earned will be credited directly to your Hodlnaut account.

How is Bitcoin interest calculated?

Hodlnaut takes a snapshot of your balance daily and calculates the interest earned for that day. Hodlnaut offers up to 7.46% APY on Bitcoin.

Others
What happens to my account and assets if I pass away?

Hodlnaut will adhere to the applicable probate laws of Singapore. We recommend consulting with your personal advisors/lawyers to plan for the succession of your estate in case of your demise.

How do I terminate my account?

We’re sad to see you go! Please write to support@hodlnaut.com and kindly state the reason for the termination of your account. This information will allow us to better understand our users’ experience and improve our services for the future!

Does Hodlnaut have a referral program?

Yes, we do! You can invite your friend to Hodlnaut by sharing your unique referral link and earn 10% of your friend's interest. Please note that you're eligible to participate in our referral program only after passing our verification process. You can find out more about our referral program here: https://www.hodlnaut.com/referral-program

Are there any prohibited uses of accounts?

Hodlnaut reserves the right to decline incoming assets from the following known addresses: 1) Mixing 2) Peer-to-peer and other high-risk exchanges that do not perform stringent KYC 3) Gambling sites 4) Darknet marketplaces

What are the current interest rates at Hodlnaut?

The current interest rate for all our assets can be found on our website here: https://www.hodlnaut.com/rates

What interest rate am I earning?

All Hodlnaut accounts automatically get the highest rate possible. The applied interest rate is shown on your account under the "Statements" tab.

How is interest paid?

Interest earned is credited directly to your Hodlnaut account. The interest is calculated at the end of every day, and is credited to your account every Monday, 5PM (GMT +8).

How do we determine the interest rates?

Interest rates are evaluated based on market demand and our earnings from the previous month. While Hodlnaut aims to keep interest rate stable, it is subject to change.

How often does your interest rate change?

Our interest rates will be updated once a month based on the prevailing market conditions. Historically, we have only changed our interest rates twice. We will definitely inform our users beforehand if we are planning to adjust our rates in the future!

Are there any caps or tiers on the interest I can earn on my crypto deposits?

To find out more about Hodlnaut's tiered interest rates, you can view our rates page here: https://www.hodlnaut.com/rates

When do I start earning interest?

Interest is earned immediately after you deposit your cryptocurrencies into your Hodlnaut account. We take a snapshot of your balance every day at 5pm (GMT+8) and calculate how much interest has been earned for that day.

What currency is the interest earned paid in?

By default, interest is earned and paid out in-kind (in other words, in the same cryptocurrency that you have deposited in Hodlnaut). However, with our new preferred interest payout, you can also opt to earn your interest in another asset class! For more information, refer to our guide here: https://www.hodlnaut.com/crypto-guides/how-to-guide-for-preferred-interest-payout

How are my interests calculated?

To better understand how our interests are calculated at Hodlnaut, kindly refer to the guide here: https://www.hodlnaut.com/news/how-are-interest-rates-calculated-at-hodlnaut

Do you offer fixed-term loans to generate a higher yield?

We do offer fixed-term loans for users who are able to deposit at least 25 BTC or equivalent with us. Kindly reach out to rm@hodlnaut.com if you would like to find out more about our fixed-term loans.

How do you earn interest on crypto?

Simply sign up with Hodlnaut, complete your KYC verification and deposit your crypto to start earning up to 12.73% interest on your crypto. Sign up here: https://app.hodlnaut.com/signup

Can you earn interest on your Bitcoin?

Yes, you can earn interest on your Bitcoin as it is one of Hodlnaut’s supported assets. We offer one of the industry’s leading interest rates on Bitcoin of up to 7.46% APY.

What is 12.73% APY?

Annual Percentage Yield (APY) is the real rate of interest earned on a savings deposit or investment, taking into account the effect of compounding interest. To find out how our rates are calculated, please refer to https://www.hodlnaut.com/news/how-are-interest-rates-calculated-at-hodlnaut

Are there any charges for token swap?

Hodlnaut does not charge any fees for token swaps. The price that we quote is the clean price.

What is token swap?

Swap between any asset pairs supported on Hodlnaut's platform instantly and seamlessly. Find out more here: https://www.hodlnaut.com/crypto-guides/token-swap-ios-app

What is a token swap in crypto?

A token swap involves swapping one crypto token to another crypto token. Swap between any asset pairs supported on Hodlnaut's platform instantly and seamlessly. Find out more here: https://www.hodlnaut.com/crypto-guides/token-swaps-what-are-they-and-how-do-they-work

How long does a crypto swap take?

Token Swap is executed instantly.

Does Hodlnaut have a mobile app for token swap?

You can access our Token Swap feature from our Hodlnaut mobile applications on iOS AppStore and Google Play.

Are token swaps taxable?

Hodlnaut is unable to provide any tax advice and users should consult their tax advisers or local tax authorities for advice.

Security
Where are my cryptocurrencies stored when I deposit my funds with you?

At Hodlnaut, we take a security-first approach, and we do not use hot wallets (which are vulnerable to online attacks). Instead, we use Fireblocks' multi-party computation wallet infrastructure where each user will be assigned a unique address generated by Fireblocks. When cryptocurrencies are deposited with Hodlnaut via the unique address given to our users, they are received through the Fireblocks' secure wallet infrastructure. On the backend, Hodlnaut will either transfer the cryptocurrencies to our self-custodied cold wallets or lend them to borrowers.

What’s the purpose of the Withdrawal Whitelisting feature?

Users can enable the Withdrawal Whitelisting feature to restrict crypto withdrawals to a list of known addresses only. For more information on how to enable our withdrawal whitelisting feature, kindly refer to our how-to guide here: https://www.hodlnaut.com/crypto-guides/how-to-enable-hodlnauts-withdrawal-whitelist-feature

How do you protect our personal information and sensitive data?

Personally identifiable information (PII) and other sensitive information are encrypted to secure them during transit and at rest. We use strong industry-standard algorithms for password hashing and procedures.

Are our cryptocurrencies safe in transit?

We partnered with Fireblocks to provide our users with next-generation private key security (MPC-CMP) and hardware isolation technology (SGX). These methods result in multi-layer security, which eliminates a single point of failure and insulates digital asset transfers from cyber-attacks, internal collusion, and human error.

What steps have you taken to secure your platform?

The platform runs on a secure cloud infrastructure on AWS, and all traffic is encrypted with SSL encryption. We encrypt and anonymise as much data as possible on our servers. Additionally, we use industry-standard algorithms for password hashing and procedures. We also require Two-Factor Authentication (2FA) when users log in to their account or make crypto withdrawals. Rate-limiting and Captcha security measures are implemented on certain account operations, such as your login attempts.

What steps have Hodlnaut taken to secure its IT infrastructure?

These are some of the measures we implement to secure our IT infrastructure: 1) Using secure AWS cloud infrastructure and encrypting all traffic with SSL encryption. We no longer support legacy encryption methods with known vulnerabilities. 2) Ensuring servers and services are continuously monitored and run the latest security updates. 3) Making sure that internal-facing applications have separate access controls and are not exposed to the public internet. 4) Ensuring that our engineers get real-time alerts to solve any issues immediately. 5) Designing our infrastructure and features to be reliable and scalable. 6) Usage of firewalls to keep our network secure Additionally, we have IT security tools such as intrusion detection to detect unauthorised access to our systems and data. Our domains are protected with DNSSEC to prevent certain types of man-in-the-middle attacks. All server connections are logged and require multi-factor authentication. Direct password authentication, as well as public connections, is not possible. We also conduct periodic Vulnerability Assessment and Vulnerability Testing (VAPT) on our infrastructure to strengthen our security position.

Risks
Are you insured against hacks?

Hodlnaut users can get optional custody cover for their funds through Nexus Mutual’s Hodlnaut Custody Cover smart contract at a small premium. Through our partnership with iTrust, users may purchase the Custody Cover provided by Nexus Mutual on Hodlnaut's platform by heading to 'Custody Cover' under your User Settings. You can also refer to our useful Step-by-Step guide here: https://www.hodlnaut.com/crypto-guides/how-to-guide-for-buying-nexus-mutual-custody-cover-through-itrust

Why should I trust you with my cryptocurrency assets?

As with any investment, we recommend all prospective users to form their own opinion when it comes to investing and the risk involved. Feel free to look through our demo platform, FAQs section and guides to understand Hodlnaut better. If you have further questions or concerns, you may reach us at support@hodlnaut.com.

What measures have you taken to prevent loss of funds?

We have incredibly stringent capital requirements of our counterparties. In any case, we are very selective with whom we lend out to. We only lend to corporate entities with good credit scores, and the Loan-to-Value (LTV) Ratio of our loans is usually 70% or lower. For this reason, the risk of default is very low. Like most DeFi products out there, we lend out to more than one counterparty to reduce counterparty risk.

What happens if one of your borrowers default?

In the very unlikely event that the borrower defaults and fails to return the borrowed asset, we may liquidate the borrower’s collateral and repurchase the borrowed funds. We also have a robust legal contract in place with each of our borrowers, and may take legal action to recover the funds if necessary. Furthermore, in an event a default happens, Hodlnaut will be taking on the loss and paying our users from our equity funds.

Is Hodlnaut FDIC insured?

Unfortunately, your Hodlnaut account is not FDIC insured as we do not deal with fiat currencies, and FDIC insurance is only available for fiat currencies.

I'm not receiving OTPs

Please ensure the following when keying in your phone number: 1. Ensure that your country of residency and country code matches 2. Avoid using auto-fill 3. Remove any spaces, periods and dashes 4. Do not copy and paste your phone number into the fields directly 5. Do not enter your country code when keying in your phone number The country codes are automatically generated according to your country of residence. You will only be able to register a phone number from your country of residence. Should you continue to face issues with receiving an OTP, please reach out to us at support@hodlnaut.com and we would be happy to help!

Why is my phone number "invalid"?

Please ensure the following when keying in your phone number: 1. Ensure that country of residency and phone number matches 2. Avoid using auto-fill 3. Remove any spaces, periods and dashes 4. Do not copy and paste your phone number into the fields directly 5. Do not enter your country code when keying in your phone number The country codes are automatically generated according to your country of residence. You will only be able to register a phone number from your country of residence. Should you continue to face issues with getting your number verified, please reach out to us at support@hodlnaut.com and we would be happy to help!

How to reset 2FA?

Please contact us at support@hodlnaut.com for this request to be processed. You will have to complete an identity verification process before we reset your 2FA, in order for us to keep your account safe.

I'm having issues with my 2FA

Please refer to our helpful guide on how to: 1. Set up 2FA 2. Troubleshoot if your 2FA code is invalid https://www.hodlnaut.com/crypto-guides/hodlnaut-2fa-explained

How do I change my personal particulars? (eg phone number, email, home address)

Please contact us at support@hodlnaut.com for this request to be processed. You will have to complete an identity verification process before we change your personal particulars.

I am unable to verify my identity during the KYC process, a “Connecting…” error appears and I am unable to proceed any further. What should I do?

Kindly try the following methods below: 1. Clearing the cache of your browser by going to "User Settings", scroll down to "Debug", and click on the "Clear" button. 2. Try the verification process again using another browser Please contact us at support@hodlnaut.com if the issue still persists.

How should I solve the "Service Blocked" error?

Kindly try the following methods below: 1. Clearing the cache of your browser by going to "User Settings", scroll to "Debug", and click on the "Clear" button. 2. Try the verification process again using another browser Please contact us at support@hodlnaut.com if the issue still persists.

How quickly can I get help from the Customer Support team at Hodlnaut?

The customer support team responds to support tickets sent via email promptly within 24 hours on weekdays. You can also reach out to the team via our live chat and they will respond within a few minutes during business hours. Alternatively, you can also raise your questions in Hodlnaut's Official Telegram Chat where Hodlnaut's admins and community members are very active: https://t.me/hodlnaut