How to Invest with MyConstant in 3 Simple Steps
Fancy earning 7% APR or more on your cash savings or stablecoins? Then you’ve come to the right place.
I’m Chris from the MyConstant team and I’m going to show you how to invest in our fully-secured P2P lending platform, from beginning to end.
If you get stuck, or have any questions, please get in touch at [email protected] or give us a shout on Live Chat.
Now, let’s dive in…
Step #1 — Create an investment order
The first step is creating your investment order. We’ll use this order to match you with a suitable borrower. To begin, head to our website and click Invest in the top left corner. You’ll then see the screen below.
Our Invest Page:
Now, you can choose:
- how much to invest. A minimum of $50 is required, but there is no maximum.
- which asset to invest. You can invest using USD and a range of stablecoins (pUSDT, USDT, USDC and more).
- the interest rate/investment term. We offer 3 rates and terms to streamline the lending process. Select the term that best fits your schedule.
- 30 days for 6% APR
- 90 days for 6.5% APR
- 180 days for 7% APR
The rates above are from August 18th, 2021. Rates periodically change so please check the website for the most up to date numbers.
Once you’ve chosen your investment details, click Invest now.
Step #2 — Deposit your investment funds
You should now see the screen below. Now, you need to transfer your investment funds (known as the principal) before your funds enter the investment pool. US residents must use ACH to transfer their money. Only if your bank account is outside of the US can you make a wire transfer.
You must complete the transfer within three days or your investment order will expire. If you need longer, just recreate your investment order when you’re ready to transfer funds.
Once your money arrives, we’ll match you with a suitable borrower. You can check the status of your investment on your Accounts page. Scroll down and on the left side of the screen and you’ll see all of your investments.
Note: Most ACH transfers (around 90%) take no more than 10 business days (often times less) to process and credit your account. However, bank errors or delays can extend this. For non-diamond members, you cannot have more than 1 active ACH order at a time.
- Pending deposit means we’re still waiting for your investment funds to arrive.
- Matching means we’re finding you a borrower.
- Matched means your investment is active. You can’t cancel your investment at this point.
- Closed means your investment has matured or you’ve cancelled it before being matched.
Step #3 — Withdraw your investment and profit
When your investment matures, we’ll email you.
Now, you need to decide what to do with your funds:
- Do you reinvest for another term for even bigger returns?
- Withdraw everything to your bank account?
- Withdraw everything to your wallet as a stablecoin?
- Send your funds abroad?
The choice is yours!
When you create an investment, you can immediately reinvest the principal or principal plus interest at the end of the term. Simply toggle the button next to the investment order (seen below) and your funds will automatically reinvest at the end of the term.
All cash withdrawals are FREE. So to withdraw cash, click Withdraw fiat on your Accounts page. You’ll then see the screen below.
Withdraw some or all of your funds to a bank account:
To withdraw to your bank account, you must enter all relevant bank details, including:
- Routing number
- Account number
- ACH or Wire transfer*
- ACH or Wire type
This info should already be saved on our platform if you have previously withdrawn from your account.
*Remember, wire withdrawals are for banks outside of the US only.
To withdraw your investment as a stablecoin, click Withdraw crypto. You’ll then see the page below.
We support ETH, EOS, and TOMO wallets:
Enter how much you want to send, which stablecoin you’d like to withdraw (we support pUSDT, USDT, USDC, and DAI), the wallet (ETH, EOS, or TOMO), and the wallet address.
Withdrawing in stablecoins is INSTANT but subject to a small fee. Refer to our pricing and service times page for more info.
And that’s it – investing from beginning to end in just three simple steps. I hope this has been useful. Do let us know if you have any questions or feedback.
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