FAQ

Here you'll find answers to the most common questions our customers ask. If you can't find your answer here, please email us at hello@myconstant.com and we'll be happy to help you.

P2P lending is where one person lends to another in return for interest, without any third party getting in the way. Unlike bank lending, where the bank lends your deposits and keeps the lion’s share of interest, P2P lending lets you keep all the profits yourself.

On our platform, you also have full control over the term with a choice of anytime withdrawals or 1, 3, and 6-month fixed terms. We differ from other P2P lending platforms in all lending is backed by collateral. In other words, we secure loans with assets that can be sold easily (cryptocurrencies).

New to P2P lending? Here’s what to know before you invest.

MyConstant is a collateral-backed peer-to-peer lending platform. Every loan is backed by collateral of up to 200% of the loan amount, which is sold if borrowers default or if its value falls to a threshold, protecting investors (borrowers keep the loan).

Unlike other platforms, MyConstant pools investor funds into a lending pool or reserve. This means you match instantly, whether you’re a borrower or an investor. We don’t do credit checks and investors can choose instant access investing or one of three fixed terms for our best rates.

As well as providing you with a platform on which to do business, we also believe in giving you the educational resources to reach your financial goals, fast. To learn more, check out our blog.

Discover 11 reasons to invest with MyConstant.

Anyone can participate, as long as you have an internet connection (to use our website) and access to a bank account (to receive a loan or repayment). If you intend to invest fiat (USD), you will also need to pass KYC (Know Your Customer) checks.

How to verify your ID (KYC).

When you invest, you’re lending your money to a borrower who has put up cryptocurrency (up to 200% of the loan amount) as collateral for the loan.

This protects your investment from borrower default and pricing volatility. If the borrower defaults, we sell their collateral to repay you.

In addition, we use qualified custodial partners (Prime Trust) to manage both fiat (USD) and digital assets. This additional layer of protection helps minimize the threat of theft, mismanagement, or loss of your assets.

Read more about how we protect your assets.

US customers

If you’re in the US, you can deposit via ACH by linking a US bank account. You can also wire us, though that is the more expensive option, depending on your bank. (We don’t charge for deposits, but your bank might.)

For ACH deposits, you need to link your bank account through our ACH processing partner, Plaid. This is very quick and we explain how to do it on our blog.

ACH deposits through a linked bank account take about 3 business days to appear in your account (possibly longer – it depends on your bank). For non-diamond members, you can only have one pending ACH transaction active at a time.

Non-US customers

Please wire your funds to us. Full instructions appear when you create your deposit order. Wires take a day or two to reach us (depending on your bank) and then a short processing period of around 1 business day before it appears in your account.

For more information, please check our service times.

You can send us any currency and we’ll convert it to USD.

No. All investing, currency conversion, and fiat (USD etc) withdrawals are free. How do we make money? We make a slim profit on the difference between the interest rate you earn and the rate charged to the borrower.

General

MU
myconstant user05:33
Hello everyone and welcome to the #Constant channel! Please feel free to ask any questions or offer feedback here.
MU
myconstant user05:33
Hey Nick! Welcome to Constant. Give me a shout if you have any questions. We'll be officially announcing Constant soon, so stay tuned for some updates 🙂
MU
myconstant user05:33
Welcome to Constant – a new stablecoin pegged to the US Dollar and 100% backed by a publicly-audited reserve. You’ve probably noticed that cryptocurrencies have a volatility problem. While volatility poses some interesting trading opportunities, it limits what cryptocurrencies can do. Few people want their salary in BTC or ETH, for example, and businesses risk losing out by accepting them in exchange for goods or services. Constant, on the other hand, is 100% backed by the most stable fiat currency in the world – the USD. So you can spend, store, and send Constant at zero to low cost, without worrying about losing value on your investment. For further information, or to make a transaction please visit www.constant.money Useful Links: Read whitepaper | Download press pack | Visit GitHub Update Friday 1st February 2019: 🔈 You can now trade Constant (CONST) on: 📈 p2pb2b.io : https://t.co/hxNwDLqBCk Available pairs: CONST/ETH, USD/CONST, UAH/CONST, CONST/BTC 📈 crex24.com : https://crex24.com/exchange/CONST-BTC Available pairs: CONST/BTC
MU
myconstant user05:33
Hey there! We are talking about Constant on our website, just letting you know! Best wishes https://www.zonamovilidad.es/constant-critpomoneda-ces-2019
MU
myconstant user05:33
That’s great news, thanks! Please let me know if I can supply any more information.
MU
myconstant user05:33
How are you finding CES this year?
MU
myconstant user05:33
What is your location at the CES? Wanted to come by and chat
MU
myconstant user05:33
hey edu its sands expo, hall a-d, booth 43126
MU
myconstant user05:33
just ask for duy or ning
MU
myconstant user05:33