MyConstant Investing: Enjoy Up to 7% APR with a P2P Platform
MyConstant Investing makes your money work for you. Join one of the fastest-growing P2P lending platforms to achieve your financial goals fast!
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If you’ve been watching the investment craze going on lately and have wondered how to get in on the action, My Constant Investing is a great alternative investment to try this year.
In this post I’m going to show you how to get started with peer-to-peer lending through one of the top fastest-growing P2P lending platforms, MyConstant.
Before we get into the ins and outs of investing with MyConstant I do have to clarify that I’m not a financial advisor and this post is intended for informational purposes only. It should not be taken as investment advice. Please consult a qualified financial advisor prior to making any investments.
Now that we got that out of the way, let’s get started!
What is My Constant
MyConstant is a multi-market peer-to-peer, or P2P, investment platform based in the US. With over 53K strong investors and counting, MyConstant is one of the top fastest growing P2P lending platforms.
MyConstant is also a collateral-backed peer-to-peer platform, meaning that every loan is backed by a collateral amount of up to 200% of the loan amount, which is sold if borrowers default or if the value of the loan falls below a certain threshold.
What is Peer-to-Peer Lending
According to Investopedia, Peer-to-Peer lending, or P2P, is a form of lending that allows individuals to obtain loans directly from other individuals. Peer-to-peer lending platform, also known as social or crowd lending, has only existed since 2005, but is becoming increasingly popular as an alternative method of financing that cuts out the financial institution as the “middleman”.
Most of the best P2P lending sites for investors have a wide range of interest rates based on the credit score of the loan applicant.
MyConstant’s platform matches borrowers and investors according to their own rates and terms. It offers different investment products with interest ranging from 4% APY to 7% 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 help you achieve your financial goals, fast.
How MyConstant Investing Works
Peer-to-Peer lending allows you to invest in people and businesses around the world while you earn up to 7% APR. With MyConstant, all lending is backed by cryptocurrency collateral.
MyConstant connects investors with borrowers to do business together. Crypto collateral backs investors’ funds while their custodial partner safely manages the movement of funds and collateral.
Investors deposit any amount and choose to either Lend money online or Lend Crypto. When you invest, you’re lending your money to a borrower who has put up cryptocurrency as collateral for the loan.
Meanwhile, borrowers must put up to 200% of the loan amount in cryptocurrency or a portfolio of cryptocurrencies to obtain the loan. This protects your investment from borrower default and pricing volatility. If the borrower defaults, MyConstant sells their collateral to repay you.
MyConstant Products for Investors
As an investor, you can choose from several products with MyConstant investing. To choose a product you should consider how much you want to earn, how easily and fast do you want to have access to your funds, your risk tolerance, and whether you’d like to lend your cryptocurrency to borrowers.
Here’s a comparison chart for the main investment products, which we’ll discuss in further detail next.
Let’s take a look at each of MyConstant products for investors:
Instant Access
Here’s a summary of what you get with a MyConstant Instant Access account:
- 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
The benefits of a MyConstant Crypto-Backed Loans account include:
- 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
Here’s some of the benefits of MyConstant Crypto-Lend account:
- 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.
Regardless of which product you choose, MyConstant investing is a great way to achieve your financial goals fast.
Try MyConstant Investing for Free
MyConstant is currently offering a free trial for new US customers to give you the opportunity to experience the benefits of compounding interest investment with collateral-backed P2P lending.
To qualify you must be a US citizens and pass the KYC procedure – the “Know Your Customer” procedure used in banking to identify and verify the identity of a client.
Here’s how it works:
First, you open up a MyConstant investing account for free.
For a limited time, MyConstant will then deposit a $4,000 bonus into your account to earn 4% APY over 15 days. You then sit back and relax while your money grows, compounded and paid every single second.
After 15 days, MyConstant reclaims the $4,000 bonus amount but you get to keep the interest you earned during that time period.
Then, you can reinvest the interest you earned or withdraw the money to your bank account!
All in all, if you’ve been looking for a great online investment platform, MyConstant investing is a great way to get started.
MyConstant is rated 4.5 stars out of 5 on Trustpilot with over 900 reviews and counting. They’ve also been featured in many prominent finance and tech publications, including Forbes, Inc Magazine, Entrepreneur and many more.
MyConstant also 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.
One of my favorite features of MyConstant is that aside from their vast library of resources available 24/7 to help you make the best investment decisions, they have great customer service. In fact, you can access their live chat any time or book a call at your preferred time to discuss any questions or concerns.
Some additional benefits of investing with MyConstant include:
- No fees (investing, depositing, transferring, and withdrawing USD 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.
Frequently Asked Questions
Still have questions? I’ve got answers. Here’s some of the questions that I’ve been frequently asked.
Is It Worth Investing In Peer-to-Peer Lending?
According to Nasdaq, Peer-to-Peer lending started gaining traction in the mid-2000s, which was a time when many borrowers were frustrated by the way mainstream financial institutions dominated the loan process.
P2P lending has the potential to provide greater returns for investors while also affording borrowers with lower interest rates than their local financial institution. This has ensured the popularity of this alternative way of lending money.
Something that has traditionally made peer-to-peer lending potentially riskier than other investments is that the loans are often uninsured, so a loan default can really harm the investor.
However, MyConstant minimizes that risk by ensuring that their loans are backed by a 200% collateral.
The truth is that no investment is 100% safe. Every investment carries a risk as well as a potential reward. As long as you minimize your risk exposure, peer-to-peer lending can be an excellent alternative investment.
How Much Money Can You Make Peer to Peer Lending?
According to Forbes, if you choose to invest in peer to peer lending, you can expect to earn anywhere between 2% and 6% annually. Of course, this will depend on how long you’re willing to part with your money and what kind of investments you’re taking on.
Typically, riskier investments carry a higher interest rate. Loans with longer terms also typically come with a higher interest payout to compensate for it.
You’re probably not going to get rich from peer-to-peer investing, but it could result in a great way to make some passive income while you sleep!
How Do I Withdraw from MyConstant?
Withdrawing your funds from your MyConstant investing account is quite simple.
When you’re ready to take your money out, if you’re in the US, you can withdraw using ACH which takes 5 to 10 business days. And if your account is outside of the US, you can initiate a wire transfer.
Once you confirm your withdrawal you’ll receive an email confirming your transaction, and that’s it!
MyConstant makes it very easy for you to have access to your funds. The best part is that there’s no hidden fees. Any funds you withdraw are completely yours.
Final Thoughts
From meme stocks to cryptocurrency becoming legal tender in some countries, this year’s happenings have sparked interest in investing like never before.
If you want to get your feet wet when it comes to investing and don’t know where to start, a solid peer-to-peer investing platform with backed investments may be a great place to do so.
MyConstant investing offers many benefits. From excellent customer service to a substantial library of information, MyConstant is a top-rated platform that offers great investment products.
Again, please consult a qualified financial advisor prior to making any investments, and if it’s right for you, give MyConstant a try!
How about you? Have you started any new investments this year? Let us know your experience in the comments below!
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