Hodlnaut waives off withdrawal fees for any one withdrawal starting from 16 November 2021.
SINGAPORE, Nov. 16, 2021 /PRNewswire/ -- Singapore-based crypto lending firm Hodlnaut has announced the launch of its new initiative to waive off the withdrawal fee of any one withdrawal made by users. This is part of the platform's goal to allow users to maximize the potential of their earnings on their crypto assets easily and conveniently.
Unlike the previous Free Withdrawal Campaign, which was a one-off initiative, the new feature is now made permanently available. Hodlnaut users will be eligible for one free withdrawal per calendar month and can choose any one withdrawal they would like to have the fees waived off for.
The requirements to be eligible for this are as follows.
Requirements for New Users:
- New users must pass the mandatory KYC verification process and deposit into their accounts to be eligible for this new feature.
- The one free withdrawal will only be enabled 30 days after the new user's first deposit.
- There is no minimum amount required for the first deposit. However, new users will be able to receive a $20 signup bonus if they deposit US$1,000 in a single transaction as their first deposit or within 1 week from their first deposit.
- If a new user withdraws within 30 days of the first deposit, they will be charged the withdrawal fee.
Requirements for Existing Users:
- Existing users will be entitled to one free withdrawal if their first deposit was made more than 30 days prior to 16 November.
Things to Note:
- Each user who has met the requirements is entitled to one free withdrawal per calendar month.
- Once the feature has been enabled, the withdrawal fee will be automatically waived off.
- A calendar month begins from the first day of the month to the last day (e.g., 1st to 31st December 2021 and 1st to 28th February 2022 are both each considered one calendar month).
- Since this initiative will start on 16th November 2021, the first calendar month for the first free withdrawal would be 16th to 30th November 2021.
- As such, new users who deposit on the 16th of November will only be entitled to a free withdrawal during the December calendar month after 16th December 2021.
- Subsequent calendar months will take into consideration the start and end date of the month (e.g., 1st to 31st December).
- The calendar months and days will be based on Singapore Time (GMT+8).
- Currently, the feature is only available via the website. It will soon be released on the iOS and Android mobile applications and we'll inform users when it is available.
"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.
Hodlnaut offers one of the highest interest rates of up to 12.73% APY on its six supported assets: BTC, ETH, DAI, USDC, USDT, and WBTC. With this new initiative, Hodlnaut strives to be the go-to platform for crypto users to earn more on their cryptocurrencies.
Hodlnaut is a cryptocurrency interest-earning platform based in Singapore that lends cryptocurrencies to vetted institutions. The platform offers up to 12.73% APY on six of its supported assets: BTC, ETH, USDC, USDT, DAI, and WBTC. Hodlnaut was founded by Bitcoin maximalists Juntao Zhu and Simon Lee in April 2019, and it has grown tremendously over the years.
Hodlnaut is a certified Fintech by the Singapore Fintech Association, an accreditation recognized by the MAS (Monetary Authority of Singapore). The company aims to become the first regulated entity in Singapore within the crypto lending and borrowing space and is undergoing license application under the Payment Services Act 2019 (by the MAS).
For more information, please visit www.hodlnaut.com.
Head of Growth at Hodlnaut