Hodlnaut's One Free Withdrawal a Month Feature Explained

In line with Hodlnaut’s aim to continuously improve user experience, the platform has just launched a new initiative to offer users one free withdrawal per calendar month. Starting from 16 November 2021, users will be able to choose when they would like to enable the feature to redeem one free withdrawal per calendar month. This thus gives users more control and flexibility over their assets. 

Though Hodlnaut previously had a Seasonal Free Withdrawal Campaign - which was a one-off initiative - the new feature has been built such that it is made permanent for all users who have signed up, passed the KYC verification process, and deposited into their account. 

To be eligible for this new feature, here are the necessary requirements to know. 

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 per calendar month feature 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 when they use a referral link and 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 per calendar month if their first deposit was made more than 30 days prior to 16 November 2021.
  

Things to Note:

• Each user who meets 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. 
• One calendar month begins from the first day of the month to the last (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 16 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 16 December 2021. 
• Subsequent calendar months will take into consideration the start and end date of the month (e.g., 1st to 31st December).
• The months and days will be followed based on Singapore Time (GMT+8).
• The feature is available on the website and the iOS and Android mobile applications. 
  

Steps to Take to Enable the one Free Withdrawal per Calendar Month Feature

1. Login to Your Hodlnaut Account and Click on Deposit/Withdraw

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Once you have clicked on Deposit/Withdraw, scroll down to the withdrawal section. You will notice a checkbox under the Amount field stating “Redeem my free withdrawal now”. 

If you are eligible, you will be able to check the checkbox to redeem the free withdrawal.

If the checkbox is greyed out and disabled, it will mean that you do not meet the requirements to enable the feature. You can also hover over the tooltip as shown in the image above. You will notice that a textbox which states “This feature is available 30 days after your first deposit” will appear. 

2. Check the “Redeem my Free Withdrawal” Box 

By default, the “Redeem my free withdrawal” checkbox will be unchecked to process withdrawals as usual. If you wish to enable the feature, you would need to tick the checkbox “Redeem my free withdrawal now” before proceeding with your withdrawal.

Do note that you will only have one free withdrawal per calendar month so be sure to plan out when you’d like to enable the feature. Once the feature is enabled, you will not be able to change it once the process is finalized. 

3. Confirm Your Redemption of the One Free Withdrawal

After keying in your details and checking on the “Redeem my free withdrawal now” checkbox, click on the “Submit” button. A withdrawal confirmation page - as seen above - will then appear. 

To successfully withdraw your funds, you will need to obtain the 2FA code via the authenticator application of your choice. Copy the code and paste it into the “Token” field. Thereafter, head over to the email you used to set up your Hodlnaut account to confirm the withdrawal. 

Once you have successfully submitted the withdrawal, the checkbox will state “You have redeemed your free withdrawal”. You will then have to wait for the next calendar month to redeem another free withdrawal. 

And you’re done! With these simple steps, you can begin to enable Hodlnaut’s new one free withdrawal feature. We do hope you enjoy the feature as much as we loved building it for you. 

Feel free to drop us an email at support@hodlnaut.com should you have any questions or issues. We will respond to you as soon as possible.