Crypto Invest

How To Transfer Your Crypto From Coinhako To Hodlnaut

Transfer From Coinhako To Hodlnaut

After purchasing your crypto on Coinhako, you may be looking to transfer it to Hodlnaut to earn a higher interest rate.

How are you able to do it, and are the withdrawal fees worth this transfer?

Here’s what you need to know:

How to transfer your crypto from Coinhako to Hodlnaut

Here are the steps you’ll need to transfer your crypto from Coinhako to Hodlnaut:

  1. Go to ‘Deposit/Withdrawal’ on the Hodlnaut dashboard
  2. Select the coin you wish to transfer
  3. Copy the wallet address from Hodlnaut
  4. Go to ‘Wallet’ on Coinhako and select the currency to send
  5. Enter the withdrawal details on Coinhako
  6. Confirm the withdrawal with your 2FA
  7. Receive the currency on Hodlnaut

Here’s each step explained in detail:

Go to ‘Deposit/Withdrawal’ on the Hodlnaut dashboard

First, you’ll need to go to ‘Deposit/Withdrawal‘ on the Hodlnaut dashboard.

Hodlnaut DepositWithdrawal Dashboard

Select the coin you wish to transfer

You will be shown a dropdown menu, where you can select the currency that you wish to deposit into Hodlnaut.

Hodlnaut Select Currency To Deposit

Hodlnaut currently supports these 6 currencies:

  1. BTC
  2. ETH
  3. USDC
  4. USDT
  5. DAI
  6. WBTC

However, Coinhako only allows you to perform withdrawals on:

  1. BTC
  2. ETH
  3. DAI

For USDC and USDT, you can only withdraw them as USD to a bank account.

Go to ‘Wallet’ on Coinhako and select the currency to send

Once you’ve obtained the address to send to, you’ll need to go to Coinhako to start sending your funds.

You’ll need to go to ‘Wallet’, and then select the currency that you wish to withdraw.

Coinhako Web Platform

Enter the withdrawal details on Coinhako

After selecting the currency you wish to withdraw, you’ll need to enter the withdrawal details on Coinhako.

Coinhako Withdraw Bitcoin Details

You’ll also be able to see the fees that you’ll incur when you send the currency over.

Coinhako View Sending Fee

Confirm the withdrawal with your 2FA

After requesting your withdrawal, you’ll need to authenticate your withdrawal with a code from your 2FA app.

Coinhako 2FA Authenticate Withdrawal

Receive the crypto in Hodlnaut

Once you have confirmed the transfer, you should receive an email from Hodlnaut to state that they are processing your deposit.

Hodlnaut Processing Deposit

The process may take quite a while before you are able to receive your crypto on Hodlnaut, as it depends on how congested the network is.

After the deposit has been processed, you will receive another confirmation email from Hodlnaut.

Hodlnaut Deposit Confirmed

What are the fees when I send crypto from Coinhako to Hodlnaut?

Coinhako only allows you to withdraw 3 out of the 6 cryptocurrencies that Hodlnaut supports. Here are the fees that Coinhako will charge you:

CryptocurrencyWithdrawal Fee
ETH0.008 ETH
BTC0.0005 BTC
DAI25 DAI

Even though the ETH and BTC fees seem small, they actually amount to between $30 – $50 SGD! As such, the fees that you pay are extremely high if you’re buying from Coinhako.

I would strongly recommend against withdrawing your cryptocurrencies from Coinhako to Hodlnaut. You may want to consider using Gemini as they offer up to 10 free withdrawals a month!

Conclusion

Coinhako only allows you to withdraw BTC, ETH or DAI from your account to Hodlnaut. However, the withdrawal fees that you incur for any of these coins are too high!

Even though Coinhako offers one of the easiest ways of buying crypto directly from SGD, it is not worth it if you are intending to transfer your crypto out of the platform!

👉🏻 Referral Deals

If you are interested in signing up for any of the products mentioned above, you can check them out below!

Hodlnaut Referral (Receive a US$20 Signup Bonus)

If you are interested in signing up for a Hodlnaut account, you can use my referral link.

You will be able to receive a US$20 signup bonus! Here’s what you’ll need to do:

  1. Sign up for a Hodlnaut account
  2. Make a qualifying deposit of US$500 or more in supported crypto assets to the account during the campaign period 25 November 2021 8:40 pm (GMT+8) to 2 January 2022 11:59 pm (GMT+8)
  3. Receive the US$20 signup bonus

You are allowed to make a test deposit, before making the qualifying deposit. You can view the terms and conditions on Hodlnaut’s website for more details.


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