Editorial Review

Hodlnaut Review: Bitcoin-Focused, KYC Not Required

Operating from Singapore, Hodlnaut is a financial services startup with an interest account targeted to Bitcoin "hodlers". Hodlnaut was founded in 2019 by self-proclaimed Bitcoin-maximalists Juntao Zhu and Simon Lee.

February 18, 2020

Our Take

Editor's rating

Hodlnaut Company Review

What Hodlnaut Does Well

One Hodlnaut's defining features is that they do not require KYC to deposit funds and earn interest. Users can withdraw up to 2 BTC per 24hrs anonymously. Technically, that means Hodlnaut is available everywhere in the world. Additionally, Hodlnaut offers one of the best interest rates on BTC in the industry at 6% and the amount of Bitcoin is uncapped. It's also possible to increase that rate through Hodlnaut's affiliate program, where users receive 10% of interest generated from referrals.

Why You Might Want To Choose Another Service

Hodlnaut is a new startup and lacks several features more established companies offer. There currently is no dedicated customer service although users can often find the 2 founders personally answering questions in the Telegram channel or ask questions through the chat window embedded on the site. A small team also means that KYC and withdrawals are manually processed and can take up to 1-2 days.

If you're looking for a stablecoin interest account, you will find better rates elsewhere, but again KYC is required. While KYC is not required to earn interest, withdrawal requests exceeding the 2 BTC per 24hrs limit actually require a comparatively more involved process. KYC, should you choose it, requires proof of address (e.g. household utility bill) and proof of financial standing (e.g. bank statement, tax assessment) in addition to standard identification. Lastly, Singapore recently introduced new legislation on cryptocurrencies and Hodlnaut states on their website that they have "6 months grace period while they apply for a license under the new regime".

Other features

Hodlnaut sports Antler among others as partners & investors. They use BitGo as custodian for all funds, and do not use hot wallets.

Wrapping up

Hodlnaut is one of the few cryptocurrency interest accounts that doesn't require KYC and offers competitive interest rates for uncapped amounts of Bitcoin. If you're willing to take on a bit more risk in exchange for anonymity, this might be an option for you.