Hodlnaut is a cryptocurrency-backed peer-to-peer lending platform that allows users to borrow and lend. Nexo is a decentralized blockchain lending platform that uses crypto to offer loans with low interest rates and no credit checks.
The earn interest on crypto is a comparison between the Hodlnaut and Nexo. It compares the pros and cons of each account, as well as their fees.
Hodlnaut vs. Nexo compares and contrasts the benefits and drawbacks of an established crypto interest account behemoth and a newcomer gaining fast market momentum.
Hodlnaut is a Singapore-based cryptocurrency interest provider. With just around $100k in financing, the business was founded in 2019 and covers six assets. It is supported by a single investor. Hodlnaut now manages over $500 million in assets and has over 10,000 users.
Nexo is a cryptocurrency platform headquartered in London that was founded in 2017. In addition to its interest account, the business offers a cryptocurrency exchange, a crypto-backed lending service, a card, and a token. Nexo pays a 10% APY on stablecoins and a 6% APY on BTC and ETH to US customers. International Nexo (those outside of the United States) may opt to get their rewards in the company’s native token, NEXO, for a two-percent interest boost.
Nexo has raised $52.5 million in financing, has over two million customers, and manages $15 billion in assets (AUM). The business pays interest on both crypto and fiat currencies, with over 23 cryptocurrencies and more than 40 fiat currencies supported (the fiat feature is only available for international users.)
On stablecoins, Hodlnaut offers up to 12.73 percent APY, and on Bitcoin and Ether, up to 7.46 percent APY.
So, which crypto interest account is best for you? Let’s have a look.
Key Information for Hodlnaut vs. Nexo
|
Item |
Hodlnaut |
Nexo |
|
Location |
Singapore |
London |
|
Beginner-Friendly |
Yes |
Yes |
|
App for mobile devices |
Yes, it’s available on iOS. In late October 2021, it will be available for Android. |
Yes, both Android and iOS are supported. |
|
Cryptocurrencies that are currently available |
BTC, ETH, WBTC, USDC, USDT, and DAI are all digital currencies. |
BTC, ETH, WBTC, USDC, USDT, and DAI are all digital currencies. |
|
The Beginning of a Business |
2019 |
2019 |
|
Trust in the Community |
Great |
Good |
|
Security |
Great |
Great |
|
Service to Customers |
Good |
Good |
|
Fees |
Low |
Low |
|
Reviews |
Take a look at our Hodlnaut review. |
Check out our Nexo review. |
|
Site/Promotions and Bonuses for Signing Up |
When you join up for a Hodlnaut and deposit up to $1000, you may earn up to $20. |
When you join up with Nexo and make a deposit of $100 or more, you’ll get a $10 bonus. |
Feature #1: Interest Rates – Does Hodlnaut or Nexo have a higher interest rate?
Bitcoin
On Bitcoin, Hodlnaut offers three different rates:
- On 2 BTC, 7.46 percent
- 4.08 percent on an 8 BTC transaction
- On 90 BTC, 2.02 percent
- 1% on 100 BTC or more
Nexo pays a fixed rate of 6% APY on BTC deposits and 8% APY on NEXO earnings. Users in the United States are unable to utilize the “Earn in NEXO” option.
Ethereum
Users of Hodlnaut may earn:
- 7.46% on a 20 ETH investment
- On 80 ETH, 4.08 percent
- On 100 ETH or more, the rate is 2.02%.
On Nexo, customers receive a 6% APY on ETH, which increases to 8% for those earning in NEXO.
Stablecoins
On USDT and USDC, Hodlnaut pays up to 12.73 percent APY, while on DAI, it pays up to 8.32 percent.
Hodlnaut’s USDT rates are as follows:
- 12.73 percent on amounts ranging from 0 to 25,000 USDT
- 7.25 percent on USDT between 25,000 and 100,000
- 4.60 percent on USDT between 100,000 and 500,000
- 3.04 percent on USDT of 500,000 or more
Hodlnaut’s USDC rates are as follows:
- 12.73 percent on amounts ranging from 0 to 25,000 USDC
- 7.25 percent on amounts between 25,000 and 100,000 USDC
- 3.56 percent on USDC between 100,000 and 500,000
- 2.84 percent on USDC of 500,000 or more
Hodlnaut’s DAI scores are as follows:
- 8.32 percent on amounts ranging from 0 to 25,000 USDC
- 5.12 percent on amounts ranging from 25,000 to 100,000 USDC
- 3.56 percent on USDC between 100,000 and 500,000
- On USDC of 500,000 or more, the rate is 2.02%.
Nexo pays a ten percent annual percentage yield on USDT, USDC, USDP, TUSD, DAI, and other currencies. When consumers opt to earn their interest in NEXO, the rate rises to 12%.
Base interest rates at Nexo
When users earn in Nexo, the interest rates are higher.
Hodlnaut surpasses Nexo’s rates on all supported stablecoins except DAI, as well as its base rates on BTC and ETH, despite its restricted asset portfolio. Nexo may be a better choice for you if you want to earn in Nexo’s token to obtain greater rates. Nexo may provide more interest as well as additional altcoin possibilities.
When signing up for a Hodlnaut and depositing up to $1000, CoinCentral users may earn up to $20.
By joining up with Nexo and depositing $100 or more, CoinCentral users will get a $10 bonus.
What is the revenue model for Hodlnaut and Nexo?
Hodlnaut and Nexo, like other crypto interest accounts, profit on the difference between what they pay depositors and what they charge borrowers. Both platforms lend to corporate borrowers, consumers, or decentralized protocols.
The FDIC does not guarantee bitcoin assets stored in Hodlnaut, Nexo, or any other cryptocurrency account. Your money in Hodlnaut and Nexo is never completely safe.
Furthermore, borrowed crypto assets are not kept in a single location but are actively deployed so that borrowers may utilize them and earn returns. As a result, they’re a little difficult to insure.
Hodlnaut, on the other hand, has partnered with Nexus Mutual, a blockchain-based insurance company, to provide customers the option of buying optional insurance coverage on such assets.
To reduce the risk of default, Hodlnaut and Nexo require borrowers to deposit collateral; users must have assets worth at least twice the amount of their loan to qualify for a loan, which is known as a 50 percent loan-to-value (LTV) ratio.
Nexo pays out 30% of its earnings in dividends to NEXO investors. Since 2017, the business has paid out approximately $29.8 million to token holders.
Payouts and Withdrawals are the second feature.
Users of Hodlnaut may withdraw at any moment, however there is a daily withdrawal restriction of 100 BTC if KYC has been completed. Larger withdrawals may take up to 48 hours, and the business charges fees based on the following assets:
Interest is compounded every 24 hours on Nexo. Depending on their loyalty status, users may make up to five free withdrawals. Users of Nexo may make one to an infinite number of free fiat transfers, deposits, and withdrawals.
The following are Nexo’s withdrawal limits:
Hodlnaut is the winner since it allows customers to withdraw at any moment as long as they don’t withdraw more than 100 BTC or its equal in a single day.
Feature #3: Nexo Security vs. Hodlnaut
Fireblocks is Hodlnaut’s main caretaker. Users’ deposits are received via Fireblocks’ secure wallet infrastructure when they make a deposit with Hodlnaut. After that, Hodlnaut will either move the bitcoins to our cold wallets or lend them to borrowers.
Password hashing, two-factor authentication, and other on-platform security methods are used by Hodlnaut.
Nexo’s platform uses security measures such as two-factor authentication (2FA), a password, biometric security, and email confirmation. User assets are kept securely in cold wallets with multi-signature security, and private keys are kept offline in Class III bank vaults for physical security. Several custodians, which they describe in their papers, may provide this significant defense:
Nexo’s user assets are guaranteed by its custodians (to the tune of $375 million, or around 3% of its AUM), but this insurance does not cover assets after they’ve been lent and left their custody. Through its collaboration with Nexus Mutual, Hodlnaut allows its users to buy insurance that protects their deployed assets.
Both Hodlnaut and Nexo have never been hacked as of this writing.
Nexo takes the victory, despite Hodlnaut’s impressive on-platform security.
Ease of Use is the fourth feature.
Both Nexo and Hodlnaut are platforms that are suitable for beginners.
Nexo is available on the web, as well as via Android and iOS applications. Because the Nexo.com domain is unrelated to the cryptocurrency business, go visit Nexo.io instead.
While Hodlnaut is now only available on the web and for iOS, the firm intends to release an Android version in late October 2021.
Extras/Special Features
Nexo’s Crypto Earn function is only one of the company’s numerous features. The company’s crypto exchange and token are more well-known. The Nexo card is accepted by over 40 million retailers globally and provides users with 2% cash back on all transactions as well as access to crypto-backed credit lines. Nexo also pays up to 12% APY on fiat currencies including the US dollar, the British pound, and many more.
Hodlnaut has the best interest rates in the market, beating out larger crypto interest brands like BlockFi and Celsius. TokenSwap, a crypto trading function on the site, allows users to swap straight between two cryptocurrencies. TokenSwap allows customers to wrap and unwrap their Bitcoin, as well as convert ETH to BTC and BTC to USDC.
Hodlnaut’s preferred interest function also enables users to earn in their chosen currency. A user who deposits BTC, for example, has the option of earning interest in USDC, USDT, or another supported currency.
Nexo is the winner. A Nexo account links customers to a range of useful services, including an exchange, token, reward card, and more.
Customer Service
The FAQ page of Hodlnaut includes the majority of the information that a user may require, and consumers can also contact the company’s 24/7 help center for additional customized assistance.
Nexo’s customer support is available 24 hours a day, 7 days a week, and the company’s website has a thorough FAQ area.
Hodlnaut vs. Nexo Reddit in the Court of Public Opinion
Support for both Hodlnaut and Nexo on Reddit is fairly consistent. Some customers choose Hodlnaut because of its higher interest rates and more flexibility, while others prefer it because of its quick and competent assistance.
u/thomgloams’ Hodlnaut review
Other customers choose Nexo because they provide better BTC rates, have robust security procedures, and have a strong financial backing.
u/Nexo Barmy Deer’s review
Final Thoughts on Hodlnaut vs. Nexo: Which is the Better Crypto Interest Account?
Larger crypto interest companies like BlockFi and Celsius face strong competition from Hodlnaut and Nexo, which provide some of the highest interest rates on the market.
In terms of security and money safety, both platforms utilize industry-leading technology and place a high emphasis on the protection of their users’ cash, data, and personal information.
On many levels, Hodlnaut and Nexo are almost identical, yet they vary significantly in a few key areas.
Nexo has been operating for a longer time and has raised $52 million in funding. When compared to Hodlnaut’s modest $100K, the business has a better platform on which to improve its vast array of services.
Hodlnaut, on the other hand, is an obvious industry rival with a rising client base.
Nexo’s base interest offers are beaten by Hodlnaut. Hodlnaut provides 7.46 percent on BTC and ETH, compared to Nexo’s 6 percent. Nexo’s rates stay the same and rise as users earn in Nexo, while Hodlnaut’s rates decrease as the quantity of BTC and ETH increases.
Nexo users may get premium interest rates on 20+ cryptocurrencies if they’re willing to risk the NEXO token’s volatility. Because of the company’s mix-and-match custodian approach, fund security is among the best in the business. Its insurance covers just around 3% of its AUM and excludes deployer assets, while Hodlnaut provides deployer asset insurance alternatives.
Hodlnaut is a cryptocurrency that caters to a wide range of interests. With excellent security, high interest rates, and industry-leading customer care and support, the company’s offering is expected to have a growing impact on the crypto interest market as it develops.
When CoinCentral readers join up and deposit $1000 into a Hodlnaut account in one transaction, they may get up to $20 in incentives.
Nexo, on the other hand, wins this comparison with more complete fund security, a broader variety of supported assets, more flexible interest, bigger investor backing, and a better brand and client base.
When you deposit $100 or more on Nexo for the first time, CoinCentral readers will get a $10 bonus.
To understand more about these items, we suggest reading our individual Hodlnaut and Nexo reviews.
The best interest on stablecoins is a comparison of the Hodlnaut vs. Nexo, two popular crypto-interest accounts that have been released in recent years.
Frequently Asked Questions
Is Hodlnaut trustworthy?
Hodlnaut is a trustworthy bot.
Which is better Nexo or Celsius?
This is a difficult question to answer. Both brands have different features and benefits that would appeal to people differently. I recommend you read the reviews of each brand on Amazon before making this purchase.
Is Nexo crypto legit?
The Nexo project is not a scam. They have been in operation since 2017 and their website was registered in 2018.
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