The May 2021 newsletter: Cryptocurrency rollercoaster
Summer is around the corner, and there is a sense that better days lie ahead. If you have crypto investment, the past month may have been a little less chilled but that’s all part of the ride.
While it has been a volatile month for crypto, (when is it ever not!) you have continued to use our platform and enjoyed the rewards, whether you’re borrowing or investing.
We can’t avoid this topic: At the time of writing, it has been a month of freefall for the likes of Bitcoin, Ethereum, and other leading cryptos. If you are an investor, the impact has been minimal, and your investments have continued to grow.
You can be assured that your investment is protected by our 110% collateral policy on loans. We always sell if the value of a borrower’s collateral drops to 110% of your principal plus earned interest, which protects investors. The 10% buffer gives us time to sell the collateral in the event of a flash crash.
If you are a borrower, you can enable our auto top-up facility to add extra collateral at times of flash crashes, which can help you avoid liquidation.
We will always strive to support you, whether you are a borrower or investor, so please get in touch with our team if you have any queries.
Increased interest rates
We are delighted to offer you improved rates for 90 and 180 day deposits. Here are the new rates (Highlighted in bold):
Instant access: 4% APY
- 30 days: 6% APR
- 90 days: 7% APR
- 180 days: 9% APR
This means an even greater return for you, on top of our flexible investment model.
As ever with investments, please consider the risks and only put in what you can afford. That said, we are proud to say that no investor has lost any of their money with us at MyConstant.
Fun with Futures – for non-US customers only
At this moment in time, this is only available for non-US residents.
At MyConstant, we like to offer investors and borrowers new and exciting products. In the last month, we launched our Futures product where you can predict whether a cryptocurrency will rise or fall at 50x your USD collateral.
We wrote a blog explaining more, but there are two things you need to note:
1. It’s not a full-time investment strategy – please keep it fun.
2. At this time, it is not available to our US customers. Don’t worry, we are working on that!
Wine and… investing
The world of fine wine may be a bit of a mystery and an unnecessary expense to many of us, but it has proven to be an outstanding investment over the years. As it happens, Chris and Trevor in our communications team are both wine lovers. So, they didn’t need much encouragement to sit down and talk about wine for 30 minutes. The latest podcast goes through how wine has generated a return 1,000% better than the S&P 500 over the last 30 years, discussing record prices for wines and sharing their own experience of the market.
Take a listen — perhaps with a glass of wine in hand.
Until next time, take care!
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