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Yesterday, I attended a Google Meet session with one staff member from Hodlnaut so that I could give my invaluable feedback on a new product they had in the works. Of course, I am not liable to reveal details of this new product but this interview yielded some insights for me, which could prove relevant for you guys out there as well. This is particularly so when we consider how many PUBLISH0X users have been promoting Hodlnaut pretty assertively recently. :)
I asked the staff member whether Hodlnaut had plans to expand its array of cryptocurrencies. After all, its six cryptocurrencies - BTC, ETH, WBTC, USDT, USDC and DAI - paled in comparison to other cryptolending platforms and exchanges out there. Just the other day, Uphold announced that it was adding Rune, Luna and Casper to its menu. There were some trending altcoins I was interested in, especially Cardano and Solana.
In regards to my query, the staff explained that Hodlnaut was currently in the process of obtaining a pertinent license from the Monetary Authority of Singapore (MAS). Hence, offering more cryptocurrencies at this point in time would mean that the Hodlnaut management would have to yet again submit tons of documentation in order to pass the rigorous requirements by MAS. I was reassured that once Hodlnaut received this much-coveted license, it would ramp up its offering.
I guess this serves as great news for many of us users, especially since one of Hodlnaut's strengths is its function to let us swap tokens for free. So I feel motivated to invest for the longer term with Hodlnaut and wait with baited breath for the chance to swap them for the altcoins I greatly desired.
Secondly, I was asked by the staff member to give a rating from 1 to 10 in regards to my user experience on Hodlnaut. I hesitated for a brief moment before uttering a 10. Now, I am not trying to butter Hodlnaut up. I feel the acute sense of loss aversion, like many of you here, since the withdrawal fees from Hodlnaut are comparatively higher than those of its competitors. In fact, when we look at some other platforms that offer withdrawals for free, it seems that the withdrawal fees are a travesty in themselves.
Nonetheless, I am of the opinion that we should look at things holistically. For one, Hodlnaut provides higher interest rates than those of its competitors, so perhaps I need to exercise more patience and keep HODL-ing on to my assets until I deem that the interest I earn offsets the withdrawal fees. For another, I feel that the Hodlnaut team really pulls no punches in providing a truly engaging user experience. Its Telegram channel is always buzzing, even on weekends. The team keeps organizing interesting giveaway contests that raise the hopes and rally the spirits of us users.
Okay, I haven't actually won any Bitcoin from its contests yet (hint! hint! Hodlnaut guys!) but taking part in such contests was an education itself. Without them, I would never have known the existence of websites like TrustPilot and SourceForge. I also wouldn't have known that Telegram allows people to participate in a fastest fingers first quiz. Exhilarating, to say the least.
I hope to earn some passive income but gain a community in the process. What's there to complain about, really?
Before the chat ended, I cheekily asked whether I belonged to the typical profile of the participants the staff member had interviewed earlier. The staff mentioned that most respondents were in their 20s or 30s.
Ouch. I was in my 40s. Generation X. Practically a dinosaur compared to these youngsters, LOL.
But then I wondered, why is it that Generation X is so under-represented in the interview pool? Is it because they are preoccupied with so many responsibilities that they have no time for an interview with Hodlnaut? Or is it because they are making a killing with conventional investments and thus, don't see the need to venture into crypto? Or are they generally more apprehensive of the volatile crypto world?
As a member of Gen X, how can I reach out to people of my generation in my essays and get them to see that the crypto world may be highly volatile but there are also ways to dabble safely with crypto? How do I present the other side of the coin?
Food for me to chew on for sure.
All in all, it was an eye-opening interview. Not only did I learn more about Hodlnaut's operational processes, but I also got to take away some ideas for my personal blogging journey. I guess that's what they call a win-win situation!
