MyConstant Review

P2P (peer-to-peer) lending, also called social or crowdlending, involves lending to individuals or businesses to get interest without aid from any financial institution. It differs from the common bank lending system where banks get the most of the earned interest while in P2P lending you keep all the profits. Websites facilitating P2P lending connect borrowers directly to investors and enables transactions by setting rates and terms. MyConstant is such a lending platform where you set your own terms to find the right investment. Read through our MyConstant Review for a thorough understanding of this fintech company.

What is MyConstant?

Established in January 2019, MyConstant is a secured peer-to-peer lending platform where every loan is backed by liquid collateral. It means only those collaterals are used that are easy to sell to get all the invested money and interest back. Among traditional P2P lending platforms where there are much centralization and little for customers, MyConstant is all about two things:

  1. Giving you control over amounts, rates, and terms
  2. Securing all lending with collateral

MyConstant developed a stable digital currency CONST which was launched at CES 2019 and is backed by the US dollar. In May 2019, MyConstant lending platform was launched. It helped to cut short the cost of international transfers as well as processing time and provided access to a free USD account. In June 2019, it matched $1,000,000 in loans, and in recent times this P2P lending platform is one of the most flexible, transparent, and rewarding platforms.

The company is extremely focused on rendering great interest rates and making credit accessible to its customers whenever they need it. The goal MyConstant has set before it is to furnish its clients with the best financial tools and the expertise to use them productively.

How MyConstant Works

MyConstant makes money from the difference between the earned rates and the rate paid to the investors through Flex. MyConstant makes investors and borrowers come closer for business-related benefits. Investors deposit their desired amount and have two options to choose from:

  1. Lend USD
  2. Lend Crypto

All the investors’ funds are strengthened by crypto collateral. In this whole process, the custodial partner, Prime Trust, manages all the movement of funds and collateral when funds are once sent to them by the investors. These funds may be sent in different forms such as fiat like USD or stablecoins. The received funds are converted to a relevant cryptocurrency which is lent to collateralized borrowers.

When the investors want to withdraw their deposited amount, the stablecoins are converted to the requested currency free of cost. As an investor you have two choices to choose from, you can either choose an instant access account or you can invest for a fixed term.

Borrowers are bound to put crypto or a portfolio of cryptocurrencies up to 200% of the loan amount to borrow from MyConstant.

How to Create an Account?

Signing up with MyConstant is simple and easy. Just go to and click the ‘Create Account’ button in the top right corner. You can create an account with your Google Account, Facebook, or by providing your email and password. You have to submit KYC and link your bank account to go on with MyConstant investing.

MyConstant Features

MyConstant offers some unique features and some are common, but it is hardtop find all of them on one single platform.

Free Withdrawals

MyConstant offers fee-less withdrawals on fiat. You are absolutely free of charge to access your own money. However, withdrawals made in cryptocurrencies are not offered free of cost.

Free Investment

MyConstant also charges no money to invest in its platform. When you earn profits, they are all yours.

Free Conversion

MyConstant investing is free, and you can use either US dollars or stablecoins to invest. You are allowed to convert USD to stablecoins and vice versa without any fees and restrictions.

Customer Utility

Regardless of your experience and investment utility, MyConstant offers useful products to help you grow money faster. Have a look at some earning opportunities

  1. 4% APY in anytime withdrawal account (you still earn money when your money is not on loan or waiting for a match)
  2. 7% APR with custom P2P lending
  3. 11% APR with MyConstant investing in businesses and individuals
  4. 8% APY on BTC, BNB, and ETH

Referral Program

MyConstant offers a $20 reward on every customer you refer. There is also an additional 10% reward for you when your referred friend earns instant access interest. This referral feature is available in the US only.

Secondary Market

MyConstant investing makes you win quick returns when you opt for secondary market. This market is to buy and sell matched orders. You can sell an order to end your term early and you will get a 2% bonus, or buy an order, secure it and you can have great returns at a fraction of the term.

Customer Support

Regardless of the time and place, MyConstant representatives are available 24/7 for your help and support. You can contact MyConstant team thru email, social media, Telegram, and phone.

Phone call service timings are:

Phone number – +1 646 809 8338

Mon – Fri: 9 am – 5 pm

Mon – Thurs: 6 pm – 3 am PST


MyConstant is keen to educate its customers with the help of blog posts, infographics, videos, and FAQs. The content MyConstant provides is well researched and simply written so that you may reach your financial goals conveniently.

Reliable Returns

MyConstant ensures the protection of your investments by providing loans backed by up to 200% of the loan amount. It means borrowers’ defaults cannot affect your invested money.

Flexible Terms

Investors feel at ease with MyConstant Investing because of its flexible terms. You can enjoy instant access to your funds or can make a selection of three fixed terms.

No Credit Checks

MyConstant won’t check your credit as long as you have the collateral to back your loan.

Mobile App

For an anytime-and-anywhere experience with MyConstant investing, you can have its app downloaded on your phone directly from App Store or Google Play.

Minimum Investment

MyConstant investing allows for a $10 minimum investment for Flex investments while for all other investing products the amount should be $50.


MyConstant demands KYC authentication from its customers. This information ensures that there is no corruption, bribery, terrorist activity, or money laundering.


  • ID card, driver’s license, or passport (identity)
  • Phone bill, credit card, or bank statement (address)
  • A most recent photograph holding your ID

2-Factor Authentication

MyConstant is always busy with finding new and innovative ways to protect your data and money. For this purpose, MyConstant investing requires all users to use 2FA on its platform.

MyConstant Products

MyConstant investing platform offers its products under two categories.

  1. Invest
  2. Borrow

Let’s go through this classification in detail.

  1. Instant Access Account (Flex)

MyConstant investing offers Instant Access Account – also known as Flex account or Pooled Crypto-backed Investment. It is an anytime-withdrawal account on MyConstant platform and best suitable for novice investors and new customers. It allows you to earn interest on your fiat (USD and others) and stablecoins.

How It Works

The Instant Access Account (Flex) works as a lending pool where you can deposit or withdraw anytime at no cost. You can disable it anytime, and manage your funds with Prime Trust.

Steps to follow.

  1. Create your deposit order
  2. Send funds via wire (for non-US), Zelle, or ACH (for US) through a lined US bank account
  3. Balance will be updated according to service time
  4. Earn 4% APY or escrow your balance with Prime Trust
  5. Invest in a fixed-term loan or withdraw at any time for free

When you deposit money in your Flex account, all your deposited money is converted into USD so that it could preserve its value. After conversion, your deposit is sent to a lending pool (collateralized liquidity pool). Your funds are converted to cTokens in the lending pool. The protocol handles multiple assets.

Borrowers get collateral-backed loans and pay interest. You as an investor earn a fixed interest, 4% APY.


  • Anyone can benefit from MyConstant Flex account without considering his/her lending experience
  • Interest rate is 4% APY
  • Withdrawals with Instant Access Account are accessible anytime
  • For the protection of funds, they are kept in a third-party lending pool
  • The minimum deposit amount is $10 while there is no maximum amount limit
  • As an Instant Access Account, there is no term offered
  • Fiat (USD and others) and stablecoins are the supported assets
  • Interest is paid every second on the Flex account
  1. Fixed-term Investment

MyConstant investing allows you to earn 20×more than a CD while all lending is protected by 200% cryptocurrency collateral. With the fixed-term investment, you can loan your money for a certain period of time and earn up to 7% APR.

How It Works

  1. Set your own fixed term of 30, 60, or 180 days and create
  2. Deposit your funds via ACH (for US) or wire (for non-US)
  3. Start earning interest
  4. Withdraw or reinvest

Once your funds arrive, MyConstant finds a suitable borrower for lending. On your account page, you can check the development of your investment under the following points.

  • Pending deposit

Pending deposit means that your funds are not received yet

  • Matching

Matching indicates that MyConstant is finding a borrower for you

  • Matched

When your account page shows ‘matched’, it means your investment is active now and you are not allowed to cancel it.

  • Closed

It shows that either you have canceled your investment before ‘matched’ or your investment is matured

MyConstant Features

  • Fixed-term investment is beneficial for experienced investors who want better rates
  • The interest rate depends on the term chosen and varies from 6% to 7% APR
  • You can choose from the available terms: 1 month, 3 months, and 6 months
  • Withdrawals are allowed at the end of the selected term
  • Fixed-term investment is protected by borrowers’ collateral
  • The minimum investment amount is $50 and there is no bar on the maximum amount
  • If you end your term early and sell your crypto-backed investment on the secondary market you will earn 2% on the elapsed term time
  • Supported assets are fiat (USD and others) and stablecoins
  1. Crypto Lend

Crypto Lend is another investment product of MyConstant where you can invest your idle cryptos and earn up to 9% APR when you receive interest in PRV. You can earn 6% APY in BTC (Bitcoin), ETH (Ethereum), or BNB (Binance Coins) compounded without any fees, penalties, or lock-ups.

How It Works

  1. Deposit your crypto to MyConstant lending pool and Constant spreads it to several decentralized exchanges (DEXs)
  2. When people trade your deposited cryptos you earn a share when DEXs get their trading fees
  3. Your interest is added consistently and you get immediate returns

Incognito is a primary exchange partner of MyConstant which pays 9% APR. but if you choose to get interest in BTC, ETH, or BNB, you will get a lower rate of 6% APY.


  • Crypto Lend suits those crypto holders who are willing to earn interest on their inactive crypto assets
  • The minimum interest rate is 6% APY
  • There is no term limit set for Crypto Lend
  • Interest is paid every second and you can make withdrawals any time you want
  • The minimum crypto deposit is 0.01 BNB, 0.005 BTC, and 0.1 ETH
  • The maximum deposit is 5 BTC value of each supported cryptocurrency
  • Deposits are allowed only in BTC, ETH, and BNB
  1. Crypto-backed Loans

This MyConstant product is for crypto holders who want to benefit from their assets without selling them. Now, you can get a loan in minutes and withdraw in fiat or stablecoins without any trading fee. Currently, more than 70 cryptocurrencies are available.

How It Works

  1. Choose any term from available 3 fixed-terms: 1 month, 3 months, and 6 months
  2. You can choose whether you want to receive your loan in USD or cryptocurrency
  3. MyConstant requires collateral to secure your loan, so you have to send your collateral to escrow
  4. After depositing collateral, you can withdraw your loan in fiat or stablecoins
  5. You can repay your loan any time in any form e.g. fiat, stablecoins, or crypto

MyConstant allows you to borrow up to $50,000. If you wish to borrow more than $50,000 you will have to place separate orders.


  • Best for the crypto holders who don’t want to sell their assets but want to have cash or new coins
  • You can borrow from just 6% APR
  • Available loan terms are: 30 days, 90 days, and 180 days
  • Loan withdrawals are available immediately
  • Your deposited collateral is kept in a secure escrow (Prime Trust cold wallet or password-protected web wallet)
  • The minimum deposit amount is $50 and there is no maximum deposit limit
  • The credit score is not checked
  • An early repayment option is available
  • 70+ cryptocurrencies

MyConstant Fees

Free Deposits for

  • Fiat
  • Stablecoins
  • Collateral and cryptocurrencies

Free Withdrawals for

  • Fiat

Flat Fee per Token on

  • Stablecoins withdrawals

Flat Fee per Token on

  • Collateral withdrawals

Matching Fee

  • Invest – 0%
  • Borrow – 3.5%

Repay with Collateral Fee

  • 2%

Early Repayment Fees

  • 50% interest for the remaining term before 75% of the term has passed
  • 100% interest for the remaining term after 75% of the term has passed

Late Repayment Fee

  • 10% of the total interest due for 24 – 72 hours late

MyConstant Competitors

  • MoneyToken
  • SpectroCoin
  • YouHodler
  • ZOS
  • Nuo
  • Squilla Loans
  • Vauld
  • QDAO DeFi
  • dYdX
  • Nexo
  • DeFi Saver
  • Genesis
  • Helio
  • Torque
  • Celsius Network
  • CoinRabbit
  • CoinLoan
  • TrueFi
  • BlockFi
  • Fee-less deposits and withdrawals
  • Up to 200% collateral-backed loans
  • Flexible terms
  • Third-party protection
  • Good for beginners
  • Mobile App
  • High investment in Membership tiers
  • Quite new in the industry
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