9 min read

MyConstant is a multi-market P2P investment platform based in the US. It offers two different investment products with interest ranging from 4% APY to 9% APR. You can lock your money away for 1-6 months for the best rates or choose anytime - withdrawals for flexibility. There are no fees, 24-7 customer support across email, telephone, and social media. MyConstant also provides a free library of resources to achieve your financial goals, fast.

How does MyConstant differ from other P2P lending platforms?

MyConstant is a secured peer-to-peer lending platform. Each loan is secured by collateral in the amount of up to 200% of the loan amount, which is sold in the event of a borrower's default or if its value falls to a threshold value, protecting investors (borrowers retain the loan).

Unlike other platforms, MyConstant combines investors' funds into a lending pool or reserve. This means that you are instantly suitable for each other, regardless of whether you are a borrower or an investor. MyConstant does not conduct credit checks, and investors can choose to invest with instant access or one of three fixed conditions for our best rates.

How does MyConstant investing work?

When you invest with MyConstant, you first send your funds (fiat, such as US dollars or stable coins) to MyConstant's Prime Trust custody partner, an accredited US financial institution.

Prime Trust then converts your funds into the appropriate stable currency, which MyConstant then lends on your behalf to borrowers, liquidity pools and decentralized exchanges in exchange for interest.

When you are ready to withdraw funds, Prime Trust will convert your invested stable coins back into the appropriate currency of your withdrawal request. There are no fees or charges for withdrawing funds in fiat (US dollars, etc.). You will keep the earned interest until the withdrawal of funds.

You can choose an Instant Access account or invest for a certain period of time. The Instant Access account has a 24-hour validity period, which is automatically renewed every 24 hours, unless you decide to disable the product or withdraw your funds.

All MyConstant investment product account statements are always indicated in the equivalent in US dollars.

Products and Benefits



Instant access (where you’ll earn your 10%)


Crypto-backed
Crypto Lend
Protection

Collateral put up in a third-party lending pool

Collateral put up by MyConstant borrowers

MyConstant will indemnify you in certain cases
Interest rate
4% APY
6-7% APR
4% APY
Interest paidEvery secondAt the end of the termEvery second
Term
No term
30 / 60 / 180 daysNo term
WithdrawalAnytimeAt the end of the termAnytime
Minimum investment10 USD50 USD0.001 BTC
Maximum investmentNoNo5 BTC worth of each supported token
End term early?N/AYes, and you earn 2% APR on elapsed timeN/A
Suitable forNovice investors, new customers, and those who need access to their moneyExperienced investors who can commit to a fixed term for a better rateLong-term cryptocurrency holders who want to earn a return on their idle assets

Instant Access

Benefits

  • 4% APY, compounded and paid every second
  • No fees
  • Anytime withdrawals
  • Minimum investment just $10
  • No maximum investment limit

Instant Access is MyConstant’s anytime-withdrawal investment account. It pays 4% APY on deposits and you can withdraw anytime for free. If you want to earn a bank-beating rate on your money, consider instant access as your flexible investing alternative. You get 50x better interest than a savings account without locking in your money.

Instant access works by investing your money in collateralized lending pools from which borrowers can get loans in return for interest. As such, it’s not a savings account, and is not FDIC-insured. However, it offers the convenience of a savings account with anytime withdrawals and a much better rate, so could be an ideal way to diversify your investments.

Keep in mind, when you wire money from your bank to your MyConstant account, they’ll reimburse you $15 for each wire that’s over $1,000. 


Crypto-backed

Benefits

  • Up to 7% APR
  • Flexible terms 1-6 months
  • No fees
  • Collateral-backed
  • Minimum investment $50
  • No maximum investment

Crypto-backed is a P2P lending product that pays up to 7% APR on fixed terms of 1, 3, or 6 months. When you invest in Crypto-backed, your money funds a lending pool from which borrowers can get loans in return for interest. Borrowers must put up 150-200% of the loan amount in cryptocurrency as collateral to secure the loan, which is sold to repay you if they default or their collateral value falls to a threshold.

With flexible terms and up to 3x the interest of a CD, Crypto-backed offers a reliable alternative investment in challenging times. Given all lending is backed by cryptocurrencies, the risk of loss due to borrower default is lower than unsecured P2P lending platforms. MyConstant carefully selects which cryptocurrencies it accepts as collateral to ensure they can be sold at a moment’s notice. Their lending model has not failed them yet, with no investor losses since launch in early 2019.


Crypto Lend

Benefits

  • Pays 4% APY on BTC, ETH, and BNB.
  • Interest compounded and paid every second.
  • Unlimited free withdrawals.
  • No minimum investment.
  • Available worldwide (non-US currencies converted to USD).

Crypto Lend is MyConstant’s anytime-withdrawal investment account for cryptocurrencies. With Crypto Lend, you earn 4% APY on Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) by supplying liquidity to lending pools and exchanges. Your interest is paid and compounded every second in the same cryptocurrency you use to invest, and you can withdraw anytime for free. MyConstant has also capped investments at $3M to ensure it can cover investor losses in cases where it or its partners are at fault.

Keevo is a next generation crypto wallet with multi-factor / multi-sig authentication that provides state-of-the art security and simplicity with seedless recovery and trustless inheritance.

Benefits for borrowers on MyConstant compared to other platforms (Nexo, Celsius, BlockFi)

Benefits for borrowers on MyConstant compared to other platforms (Nexo, Celsius, BlockFi)

Additional Benefits

  • No fees (investing, depositing, transferring, and withdrawing are all FREE).
  • 24/7 customer support across email, telephone, and social media.
  • A vast library of investor resources to help get the most out of their platform.
  • A fully-featured iOS and Android app.
  • All fiat currencies accepted (though are converted to USD upon reaching the platform).
  • Available worldwide.

Credibility 

  • MyConstant is rated 4.5 stars out of 5 on Trustpilot (900+ reviews).
  • MyConstant uses Prime Trust, an accredited US financial institution, for almost all cash management. This means MyConstant rarely takes ownership of your funds, reducing custodial risk to you.
  • MyConstant has featured in many prominent finance and tech publications, including Forbes, Inc Magazine, Entrepreneur, and Zero Hedge.

Incentives / special offers

Free $4,000 trial bonus for new US customers 

If you’re a US citizen who signs up and passes KYC, you’ll receive a 15-day trial bonus of $4,000 to invest in instant access at 4% APY. After 30 days, MyConstant will reclaim the $4,000, but you keep the interest. This gives you the opportunity to try the platform before committing any of your own money.

Refer friends for a $20 bonus (US only) plus 20% of their instant access interest. 

MyConstant also offers a generous referral rewards program. For any US citizen who signs up using your unique referral link, passes KYC, and deposits at least $10, you will earn a $20 bonus and 20% of their instant access interest in their first year of investing. For example, if your friend earns $100 in their first year, you get $20 without lifting a finger.

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Conclusions

MyConstant is a new crypto-backed P2P lending platform offering exciting interest rates for borrowers. MyConstant cuts the cost of international transfers, slashes loan processing times from days to minutes, and allows you to take out loans against 70+ different cryptocurrencies.

  • Interest rates start from 6% APR and are no higher than 7% APR.
  • Borrow any amount for 1, 3, or 6 months.
  • No credit scoring or background checks.
  • All funds are immediately accessible.
  • On MyConstant you can easily onboard from USD to crypto.
  • Can get a loan against multiple cryptos at the same time.
BENEFITSINVESTBORROW
Instant AccessFixed termCrypto LendCrypto-backed loans
Suitable forNovice investors, new customers, and those who need access to their moneyExperienced investors who can commit to a fixed term for a better rateLong-term cryptocurrency holders who want to earn a return on their idle assetsCrypto holders who want cash or new coins without selling their existing assets
Interest rate4% APY6-7% APR4% APYFrom 6% APR
Interest paidEvery secondAt the end of the termEvery secondN/A
TermNo term1, 3, 6 monthsNo term1, 3, 6 months
WithdrawalAnytimeAt the end of the termAnytimeLoan is available immediately. Collateral returned at the end of the term
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Learn more:

CRYPTO LENDING PLATFORMS: Bitcoin & Crypto-Backed Loans and Interest Earning Accounts >>>

CRYPTO LENDING PLATFORMS: Bitcoin & Crypto-Backed Loans and Interest Earning Accounts

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