Myconstant is a leading peer-to-peer lending platform that allows users to invest with either cash or cryptocurrency. If you have any spare cash that you aren’t spending, you may invest it by lending it to other platform users for a possible return of up to 7% APR.
Although there is some danger, the prospective interest rate is far greater than that given by major US banks. Keep reading this MyConstant review if you want to know more about this lending platform.
This MyConstant Review has been thoroughly researched with information and testimonials that are available online to anyone in the public. Any conclusions drawn by myself are opinions.
Table of Contents
Pros: What I Liked
Work with financial institutions
No maximum investment limit
Cons: What I Didn't Like
Prolonged setup times
Decreases in the market value of cryptocurrencies
Risk of cryptocurrency collateral value volatility
There are countless information courses floating around the internet. Why? Because for every problem that exists, someone claims to have the solution.
And that solution is usually some oddball money-making system that tells you how to turn a casual interest – or maybe something you’re super passionate about – into sustainable, reliable income.
Just like MyConstant. Here’s the hard truth, though…
Most of these programs:
- Take way more time than you’re led to believe
- May have hidden fees
- Require you to buy multiple upsells in order to get the “real” information
But most importantly, a lot of these programs just don’t scale.
“Scale” means once you do the work to make a little money, it should get easier to make more money, not harder.
The problem is, most programs out there make it hard to make money at first and even harder to keep making money.
In other words, you might be able to make some money in the beginning, but it won’t be sustainable, and you’ll end up getting discouraged.
This is the exact opposite of passive income.
When income is truly passive, you do the work upfront, but then you set it and forget it. The money gets made whether you’re working or not. It’s not directly tied to the hours you put in.
So, what if there was a way you could build a passive income stream that’s actually passive?
An income stream that doesn’t require:
- Selling to friends and family
- Selling to strangers
- Recruiting people
- Dealing with questionable products that weigh on your conscience
An income stream that brings in consistent monthly revenues (from a couple of thousand dollars to well over $10,000)?
An income stream you could actually build in your spare time, and grow as large or as small as you want to, without having to spend hours a day chasing, selling, or managing anything?
If that sounds like something you’d be interested in, check out Digital Real Estate.
This is nothing like MyConstant, and that’s probably a good thing.
However, if you’d still like to know more about MyConstant, keep reading.
What Is MyConstant?
MyConstant is a platform for crypto lending. It was founded in January 2019 and is headquartered in Riverside, California. MyConstant does not name its CEO or any other members of its staff. It is also not mentioned if the company has raised any funds.
MyConstant gets its name from its own stablecoin, CONST. It began as a stablecoin initiative, and it started as a p2p lending platform in mid-2019. Furthermore, they work with Prime Trust, an accredited US financial institution, to provide cash management for fiat deposits.
MyConstant is an excellent place to begin if you want to explore with crypto lending or saving. With instant access to your savings, it provides stablecoins with 4% APY to 7% APR. You can choose their instant access account or invest for a fixed term .
Interest rates start at 6% APR if you borrow money from the MyConstant platform. The digital money that you put up as collateral guarantees your lending agreement. You will then be able to withdraw your loan amounts in either fiat currency or stablecoins.
What Is Peer-to-Peer Lending?
P2P lending directly links one borrower with multiple independent investors. This prevents any one investor from bearing the whole risk of the loan’s performance and enables considerable diversification with far fewer capital commitments.
In return for an origination fee, peer-to-peer lending services in this industry link borrowers with investors. Few people keep the loans, putting the whole credit risk on the shoulders of individual investors.
Many platforms pre-screen borrowers based on financial criteria (e.g., credit, income, assets, and so on) and give them a rate depending on the screening results.
If accepted, this loan is subsequently floated to investors, who may choose to invest depending on the advertised loan terms. If there is enough investor interest once the loan is priced on the platform, it will execute and become a legally enforceable debt instrument.
What Does It Offer?
MyConstant clients deposit fiat or cryptocurrency, which is then loaned out. Customers earn interest on their investments in exchange. Deposited money may yield up to 7%, while borrowers can obtain rates as low as 6%.
Before receiving the loan, the borrower must also additionally put up as collateral 150–200% of the loan amount in crypto assets. There will be no credit checks as long as you have the proper crypto collateral.
Investors may lend in either USD or cryptocurrency. Investors are protected from borrower defaults since borrowers must provide up to 200% of the loan amount as collateral. MyConstant allows investors to put funds into their MyConstant account and then connect them with borrowers.
Prime Trust, MyConstant’s custodial partner, transfers funds. Shorting particular cryptocurrencies and trading cryptocurrency futures are also options on MyConstant.
Low Loan Rates
Loan rates might be as low as 6%. Collateral may be combined by using several currency types. Over 71 coins may be used as collateral. Loans may be made in USD or cryptocurrency. The loan-to-value (LTV) ratio might reach 66%. Loan periods are 1, 3, or 6 months.
High Interest Paid On Deposits
When you earn interest in the same currency as the coin on deposit, you may earn 4% APY on stablecoins and BTC, ETH, and BNB. This is significant since there are considerably fewer coins that may be used as collateral for loans. MyConstant, on the other hand, claims that interest is paid out and accumulated on these coins every second.
If you get your interest payments in PRV, the native privacy token of MyConstant’s major exchange partner, Incognito, the maximum rate rises to 7% APR. The longer your deposit funds remain in the crypto savings account, the more you will earn. Deposits retained in fixed-term loans for 180 days earn 9%. The minimum investment is just $10.
Borrower Default Protection
The collateral that borrowers must put up protects investors against borrower defaults. If a borrower fails to make payments, their collateral might be auctioned. This is, in essence, a secured loan. Collateral might be worth up to 200% of the loan amount.
To protect users from fraud, MyConstant also employs 2FA. However, it doesn’t use whitelisted addresses. Whitelisting allows customers to only withdraw funds from their bank account to addresses they have previously identified as secure, hence enhancing user protection.
Are There Any Fees?
There will be a cost for withdrawing cryptocurrency. USDC, for instance, charges $10 for each withdrawal. There are no charges associated with taking out fiat currency.
It’s vital to note that in addition to the interest that borrowers will pay, they will also pay a matching fee of 3.5%. MyConstant also charges prepayment fees, which is unfortunate.
Contrary to other platforms, MyConstant collects investor money into a reserve or lending pool. As a result, whether you’re a borrower or an investor, you match right away.
Is MyConstant Worth It?
Of course, an individual who is afraid of significant risk is unlikely to be interested in a crypto lending platform. But if you trade cryptocurrency, you’re probably already familiar with how a crypto loan platform like MyConstant works.
It should also be noted that MyConstant only pays interest on three non-stablecoin cryptocurrencies. So, if you want to earn interest on a broad range of crypto assets, you should seek a platform that supports more coins.
Is MyConstant A Scam?
So, is MyConstant a scam? Not technically. You can make money with this program, but it’s definitely not as easy as they make it sound.
There’s a ton of work to be done upfront, no real guarantee of success, and – most importantly – it doesn’t scale.
Now, there’s nothing wrong with front-loading the work and making the money later.
But if you’re grinding it out for 3 months, and then your reward is being forced to grind it out for another 9 months before seeing any “real money,” well…that’s not a great deal, is it?
What if, instead, you could do that same 3 months of work (in your spare time), and your reward was a $500 to $2,000 payment that came in every single month?
And what if you actually didn’t need to wait 3 months? What if you could get started today and have your first payment in a week?
And what if you could double it next week?
Well, that’s the power of Digital Real Estate.
And you can legitimately do this from anywhere. It’s a true lifestyle business.
Your laptop and an internet connection are all you need.
Some of the most successful students in this program run their entire 6-figure businesses from:
- A camper in the middle of the woods
- A beach chair on the water in Mexico
- A small villa in Greece
They’re able to travel around, living their lives first, and focusing on their income second.
Because even if they stop working for an extended period of time, the money keeps coming in.
So adventure, memories, and experience are the top priority.
And they never have to worry about how to pay for the next trip, or consider asking for time off.
If this sounds more like the type of life you want to lead, just click here to find out more about Digital Real Estate.
Are There Alternatives To MyConstant?
Yes, there are plenty of other business models to choose from if you want to pursue making money online. Here are just a few:
What Is My Top Recommendation For Making Money In 2022?
Our review team has spent months researching, reviewing, and vetting dozens of business models and thousands of programs.
While there may be no “perfect business,” the research IS conclusive:
Whether you’ve never made a dollar online or been in this space for a while but never really “made it,” Digital Real Estate is for you.
1) It’s Flexible: got an hour a day? You can do this. Ready to drop everything else and dive in full-time? You can do this. Yes, the more time you put in, the faster you see results. But even with a little time each day, you can move the needle in a Digital Real Estate business.
And because this system is so flexible, you don’t have to constantly be working to make more money. It’s called PASSIVE INCOME because if you stop working, the money doesn’t.
Imagine taking 3 months off to just tour around Europe, rent a cabin in the woods to write a book, hike the Appalachian Trail, or live on the beach and surf all day.
This is only possible if you have an income stream that’s not tied to your time.
2) You Own & Control EVERYTHING: With MyConstant, you don’t really own anything. You have no control over the quality of products. You don’t even own your “business”.
Look at the fine print for most of the agreements folks sign when they join one of these companies. At any point, the company can change your commission structure, reduce your profit margins, or kick you out entirely.
With Digital Real Estate, you own the assets, which means you have all the power and all the control.
3) Little To No Startup Costs: It’s possible to get into Digital Real Estate with zero dollars upfront. Because, using the strategies outlined in this program, you can get a client to pay you BEFORE spending a penny out of your own pocket…even before you do any work.
Even without getting paid in advance, you can have your first Digital Rental Property up, running, and generating profits for less than $100.
4) No Inventory: Alright, so most MyConstant doesn’t make you buy the products and fill your garage with them anymore (unlike the good ol’ days), but you’re still in a physical products business.
And physical products always have physical limitations. Even if you don’t have to manage the inventory, you still have to deal with supply chain shortages that cause major delays.
Imagine finally landing your first customer and losing them after one sale because they had to wait 6 weeks to get their order.
With Digital Real Estate, a 100% online business, you never even have to think about that risk.
5) Easy To Duplicate: Ok, here’s the best part: once you have your first Digital Rental Property up and running, you can literally DOUBLE your income with a few clicks, a couple of keystrokes, and a single phone call (and you don’t actually need the phone call).
Remember: each Digital Rental Property is worth $500 to $2,000 monthly in semi-passive income (over 95% profit). Every time you decide to create another one and increase your income, it gets easier.
Because you have more knowledge, more experience, more results, and more momentum.
If you wanted to double your income with MyConstant, you’d probably need to double the number of hours you spend working. Because, again, this program doesn’t scale.
6) Make Money Helping Real People: With Digital Real Estate, you’re actually helping people by solving your clients’ biggest problem:
Small, local businesses need more customers, and with Digital Real Estate, you are unleashing a flood of happy, paying customers for these businesses.
You make money by helping them make money.
Not a big, faceless corporation either…a small business owner who’s using that money to put food on the table for their family, start a college fund for their kids, or take care of a sick parent.
Once you see how Digital Real Estate makes a real impact in the lives of real people, you’ll sleep like a baby with a big smile on your face.
Now, the choice is yours. You could continue browsing, looking at opportunities like MyConstant which could one day make you money.
You could continue researching, never making a decision.
OR, you could take a look inside, consider what you really want, and join a program that makes your dreams a reality. At the same time, joining a community of over 2,000 successful students that are living life on their own terms, thanks to Digital Real Estate.
A consistent, reliable, semi-passive stream of income that doesn’t depend on you or your time to keep producing profits.
All while genuinely helping real people who are grateful and happy to pay for it.
If this sounds more like what you want out of life (or if you just want some nice side income), click here to learn more about Digital Real Estate.