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MyConstant Review 2022: Is MyConstant Legit & Worth it?

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MyConstant Review

myconstant logo

MyConstant is a top peer to peer lending platform that enables users to invest using cash or cryptocurrency. If you have some extra cash that you aren’t using, you can invest it by lending it to other users on the platform to get a potential return of up to 7% APR. Although there is a small degree of risk, the potential interest you can earn is much higher than that offered by major US banks.

Legit & Safe

Account Fees


Return Potential


  • High rate of return – according to the company, you can stand to earn an interest rate of up to 7% APR or more, which is 20x higher than most CDs.
  • Low minimum amount to invest – you can start investing from as little as just $10, making it very low risk and easy for almost anyone to start.
  • Both fixed term and instant access – you can set a term of 30, 90 or 180 days for your investment and withdraw at any time or at the end of your term.
  • Invest in 71 types of crypto at 4% APY – choose from coins such as Tether, Bitcoin, USD Coin, AirSwap, and many other popular cryptocurrencies.


  • Complex investment options – over 5 different lending plans that can confuse users including USD lending, Crypto lending, and secondary market plans.
  • Customer support is no available 24/7 – only on Mondays to Fridays and for limited hours each day, making it hard to get help if you need it.

Jump to: Full Review

Compare to Other Investment Apps


Acorns logo

Invest your spare change in a diversified portfolio built by experts

Expect up to 7.5% annually returns with plans starting from $3 a month

Earn bonus investments from 350+ Acorns Earn partners


Fundrise logo

Invest in real estate properties with a $10 minimum initial investment

Historical annual return varies from 8.8% to 12.4% (2019 – 9.47%)

Low annual fees: advisory – 0.15%; management fee – 0.85%

Public App

Public App logo

Manage your portfolio of stocks, ETFs, and crypto investments – all in one place

Over 5000 stocks and ETFs to choose from (dividend stocks available)

Follow other investors, see their portfolios, and exchange ideas

How Does MyConstant Work?

MyConstant is a relatively new peer-to-peer lending platform. The platform has been around since 2019 and allows users to invest in peer-to-peer lending with USD or cryptocurrency.

MyConstant works by connecting individuals who want to borrow funds with people who are willing to lend. If you have spare cash and want to grow your wealth, you can invest in loans. As an investor, you will provide the capital for the loans that MyConstant offers to its borrowers.

There are no fees involved in creating an account or investing with MyConstant. Apart from cash, you can also invest in cryptocurrencies with MyConstant.

Some of the cryptocurrencies you can invest in include:

  • USDC
  • USDT
  • BAT
  • Bitcoin Cash
  • Binance
  • And many more

The rate of return will vary depending on your choice of investment. When lending cryptocurrencies, you can earn up to 12.5% in annual interest. If you prefer to lend USD instead, you can earn up to 7% APR on your investment.

You can start investing with as little as $50.

How Much Can You Earn With MyConstant?

When you invest with MyConstant, your funds will be locked for a fixed term. You can choose whether you want this term to be 30, 60, or 180 days, depending on whether you think you will need the cash in the short run. The longer your investment term, the higher interest you can expect to earn.

You will start earning interest once the company receives your funds. Your earnings with MyConstant will vary depending on the type of investment that you make.

Type of InvestmentReturns
USD CashUp to 7% APR

You can view the list of cryptocurrencies on the MyConstant website and the returns you can expect to earn. Moreover, you can also deposit funds into your MyConstant account to earn 4% APY.

Who Is MyConstant Best for?

MyConstant is best for individuals who have some spare cash and want to invest their funds. The investment opportunities that MyConstant offers have higher rates of returns than traditional investments such as fixed deposit accounts.

As an investor, you can also withdraw your earnings whenever you want. Thus, MyConstant is also ideal for individuals looking for liquid investments.

MyConstant Fees: How Much Does It Cost to Invest With MyConstant?

MyConstant does not charge any fees regardless of whether you want to invest in loans or withdraw funds from your account.

However, note that your bank may charge you additional fees if you make a withdrawal.

MyConstant Features: What Does MyConstant Offer?

Deposit USD

You can deposit cash into your MyConstant account via wire or ACH through a linked US bank account. You can link up to two US bank accounts for ACH transfers through Plaid.

You can earn up to 7% APR on the funds in your account. You can also withdraw your funds whenever you want with no withdrawal fees.

Lending Lottery

You can invest in the Lending Lottery feature on MyConstant to win up to $10 million. Your investments provide liquidity for cryptocurrency exchanges, and you can earn a 1% APR on your investments. Moreover, for every $100 you invest, you will get a lottery ticket.

There are weekly draws, and the company announces the winners every Sunday. There are no fees involved, and you can earn up to ten times more interest from the Lending Lottery than from a savings account.

There have been over 400 winning customers of the Lending Lottery since MyConstant started the program.


You can also swap the cryptocurrencies that you own for MCT. MCT (MyConstant Token) is the platform’s native digital token. When you buy MCT, you can enjoy additional benefits that other MyConstant users do not get.

These additional benefits include:

  • Crypto Lend: Earn up to 15% APY.
  • Fixed-term investments: Earn up to 8.4% APR.
  • Lending Lottery: Earn up to 1.2% and up to 4 extra tickets.
  • Crypto Swap: Up to 90% discount on swapping fees.
  • Referral program: Earn up to $20 and up to 20% of referee’s interest.

MCT Staking

If you own MCT, you can stake it to earn up to 18% APR while supporting the MyConstant blockchain. MyConstant customers have staked over $60,000 worth of MCT on the platform.

Once your staking term is up, your MCT will automatically be returned to your MyConstant account.

MyConstant Mobile App

As a MyConstant user, you can access your account using a mobile app available on iPhone and Android smartphones.

The MyConstant mobile app provides the same experience as a desktop website, allowing you to access the same features.

MyConstant Requirements

To start investing with MyConstant, you have to meet the following requirements:

  • Be at least 18 or older
  • Pass ID, biometric, and address verification
  • Minimum of $50 per investment order

You do not need to be a US resident as long as you can deposit USD or cryptocurrencies into your account.

MyConstant Payout Terms and Conditions?

Once your investment term is over, you will be able to withdraw your principal funds and any interest that you earned. You can withdraw your funds using the same method that you invested them. These methods may include cryptocurrency transfers or bank transfers.

MyConstant Risks: Is MyConstant Safe to Invest With?

There are risks involved with all forms of investments. With MyConstant, some of the risks you might face include fraudulent borrowers and decreases in the market value of your cryptocurrencies.

Nonetheless, the platform offers higher returns on your investment in exchange for these higher risks. Thus, you need to consider whether you are willing to accept higher risks to potentially earn more on your investments.

How Does MyConstant Protect Your Money?

For a borrower to apply for a loan, they will need to have collateral worth up to 200% of the loan value. The high collateral required means that if a borrower were to default on their loan, your investment will not lose all its value. Instead, the company can seize the borrower’s collateral and sell it to repay your investment.

Some of the assets that a borrower can use as collateral include:

  • Cars
  • Property
  • And many more

MyConstant also engages Prime Trust as the accredited custodian of its USD reserve. When users deposit funds, any amount that the company does not loan out is stored in multiple bank accounts and insured for up to $130 million.

MyConstant Reviews: Is MyConstant Legit?

Review WebsiteTrustpilot
MyConstant Review4.7 out of 5 stars

MyConstant is a legitimate platform with a large user base and over 1000 positive reviews on Trustpilot.

Many users of the platform have praised it for providing a wide range of investment and borrowing options. Reviewers were generally satisfied with the high returns that they could enjoy on their investments, as well as the free educational resources that the platform provided.

However, the platform has received some negative feedback from users who stated that they encountered issues when depositing cash into their accounts. Some users also complained that they encountered problems when transferring their cryptocurrencies to other wallets.

What Are the MyConstant Pros & Cons?

MyConstant Pros

  • Flexible investment terms from 30 to 180 days
  • Secure loans with up to 200% borrower collateral requirements
  • Transparent platform with regular updates to interest rates
  • There are no fees for investing and withdrawing funds

MyConstant Cons

  • There is some complexity because of the number of investment plans available
  • You can only invest in a select list of cryptocurrencies and USD

How Good Is MyConstant Support and Knowledge Base?

The company operates a blog with regular articles teaching users how to invest in peer-to-peer lending. MyConstant also has a reliable and helpful team of customer support staff available 24/7. Thus, you can contact the customer support team whenever you have any questions about the platform’s services.

Some of your options for contacting MyConstant customer support include:

Phone support is available Monday to Friday from 9 AM to 5 PM during the day and Monday to Thursday from 6 PM to 3 AM (PST) during the night.

MyConstant Review Verdict: Is MyConstant Worth It?

If you have spare cash or cryptocurrency and want to grow your wealth, MyConstant is one of the best platforms you can use to invest. The platform offers higher returns than traditional investment vehicles such as banks and fixed deposit accounts. With MyConstant, you can earn up to 12.5% returns on your investments.

The platform also offers several different investment terms, ranging from 30 to 180 days. Depending on the length of your investment term, your earnings may vary. You can also use the platform’s Lending Lottery feature to stand a chance to earn up to $10 million.

In addition, MyConstant offers 24/7 customer service to all its customers, allowing you to get help whenever you encounter any problems while using the platform. All MyConstant loans are also backed by either property or crypto collateral, ensuring that your investments remain secure.

How to Sign Up With MyConstant?

Step 1: Sign Up for an Account

Before you can start investing in peer-to-peer loans on MyConstant, you will need to create an account on the platform.

You can do so by visiting the MyConstant website and providing your details.

Step 2: Create an Investment Order

After creating your account, you will need to create an investment order. You can access the Investment screen to view the different options available to you. You can also choose your preferred investment amount and term at this stage.

Step 3: Deposit Funds

After creating your investment order, you will need to deposit funds matching the amount in your investment order. The most convenient way to deposit funds into your MyConstant account will be through a bank transfer.

Sites Like MyConstant

Service FeesNo feesFrom $3 per month1%No fees
Min. Investment$50$5$10$1
Best ForPeer-to-peer lendingSpare changeReal estateStocks and ETFs

MyConstant vs. Acorns

Acorns Summary

  • Low account fees from just $3 per month
  • Get $5 in your account for referrals
  • Low minimum starting investment amount
  • High average return on investments of 7.5%

Acorns is an alternative platform to MyConstant that you can use to invest in stocks and ETFs. Unlike MyConstant, Acorns has a low minimum investment amount of just $5.

The platform is best known for its Round-Up investing feature. Acorns will round up your spending to the nearest dollar, helping you save and invest your loose change. However, note that Acorns charges a fee starting from $3 per month.

MyConstant vs. Fundrise

Fundrise Summary

  • Low minimum starting investment of $10
  • High historical returns of 8.8% to 12.4%
  • 0.15% advisory 0.85% management fees
  • Diverse portfolios of up to 16 investments

Apart from MyConstant, you can also use Fundrise if you want to diversify the investments in your portfolio. Fundrise offers crowdfunded real estate investing opportunities. Members can purchase shares in real estate investment trusts (REITs) managed by the platform.

Fundrise also has a low management fee of just 1% and you can start investing in real estate with just $10 or more.

MyConstant vs. Public

Public App Summary

  • Invest in stocks, ETFs, and crypto
  • $0 commission fees for any stock trades
  • Over 100 articles to learn about investing
  • Low 1-2% commission for crypto trades

Public is a brokerage platform that you can use to buy and sell stocks, ETFs, and cryptocurrencies. Unlike MyConstant, Public offers over 5000 assets that you can choose from to invest in.

Moreover, Public also provides educational resources like articles that can help you learn more about investing. You can also follow other investors, review their portfolios, and exchange ideas with them. If you want to have more control over the direction of your investments, you can consider using MyConstant.

Other Sites Like MyConstant

MyConstant FAQ

What Is MyConstant?

The company originally started with the objective of creating a new stablecoin cryptocurrency named CONST. It eventually evolved to offer money-lending and investing opportunities for its members.

MyConstant’s headquarters are in Riverside, California. As of 2021, it has paid investors over $1 million in interest.

What deposit methods does MyConstant accept?

MyConstant currently uses Automated Clearing House (ACH) for deposits of up to $5000. If you use a wire transfer, there are no limitations on how much you can deposit.

How does MyConstant make money?

MyConstant makes money by charging interest on the loans that it offers its customers. It then shares part of this profit with the investors who provide the funds for the loans.

How much should you invest in peer-to-peer lending?

As with all investments, you should only invest your spare cash in peer-to-peer lending. If you opt for a fixed investment term, you will only be able to withdraw your funds at the end of the term. Thus, you should not invest funds unless you do not need them to be highly liquid.

Can anyone do peer-to-peer lending?

Peer-to-peer lending is highly accessible and beginner investors can easily start investing in peer-to-peer loans with MyConstant. The platform has a relatively low minimum investment amount of $50, meaning that anyone can do it.

Can you get rich from peer-to-peer lending?

While you can earn high returns on your investments with peer-to-peer lending, you will need to have the capital to start with. Thus, while you may get rich from peer-to-peer lending, this may take time and may be the result of regular investments.

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