Crypto can be an investment
If you have been watching the news lately you have probably seen a few stories about the recent spike in value of a few digital currencies most notably Bitcoin. If you do not own any crypto there is a good chance you are not aware that crypto could be considered an investment class of its own. Here I will talk about one platform that I currently use to earn a nice return on my crypto when I am not using it. The name of the site is Constant.
I have just recently gotten into crypto and it has been a learning process for sure. One thing I do understand is that idle anything is not going to make you any money. I moved the crypto I am not using for trading into my constant account where it is currently earning a beastly 9% return. This is also compounded every second which many of you already know how powerful compound interest can be.
Don’t let your crypto collect dust
So, there are a couple different ways to earn returns with your crypto on Constant. The easiest way is to just deposit either Bitcoin (BTC), Etherium (ETH) or Binance Coin (BNB) and it will go right into your crypto lend section and you will start earning interest immediately. There are no fees or lock-ups with this so you have one of the most liquid investments available.
p2p with crypto?
Another way to get a great return on your crypto is to lend it. Yes, I am actually recommending a peer to peer (p2p) function in this platform. You may have ready my article about my p2p experiences and know this does not come easily. Why am I recommending this option if I am not a fan of p2p? Because these particular loans are 150% backed by other cyrpto. Yes you read that correctly if someone wants to borrow $1,000 they need to put up $1,500 in collateral.
This collateral ensures that the borrow will pay back the loan and if they do not, then the crypto is sold and the loan is payed back. You might be wondering, with the volatility in the crypto market what happens if the value of a coin tanks and becomes worth less than what they borrowed. Well Constant will sell off the collateral before it dips too low. I think this is a pretty ingenious idea and finally brings some security to the p2p marketplace.
I love those bonuses
There is one more thing I wanted to mention about a really great bonus you can earn through referrals. I think these are pretty attractive and are going on right now. Through the registration process you can earn small bonuses for doing things like completing the Know Your Customer (KYC) requirements and for investing a certain amount. One of the coolest things is that the website actually gives US investors a $3,000 trial deposit. Before you freak out let me explain how that works. Once you sign up and get authenticated you will receive a deposit of $3,000.00 in your flex account. This account earns %4 and you get to keep all the interest earned during the trial deposit window.
Of course if you are not a US investor you can still access the platform if you have access to a bank account and an internet connection. I know I have some readers from the European Union so this is one opportunity you too can take advantage of.
As of the end of July, 2020 there is a special going on where you will keep the deposit for 30 days. At the end of 30 days they will recoup the deposit but you keep all the interest. I think that is a pretty sweet deal and if you are like me and love free money this is totally worth checking out. Oh and if you refer someone you will also get 10% of their flex interest as well. There is an opportunity to really stack some cash with this one. I must warn you though the limit on the amount you can earn is capped at one million dollars.
The bottom line
On a final note there are several other interesting aspects to the Constant site and it really is worth a look if you have a little idle crypto and want to see immediate returns that you can withdraw at anytime penalty free this is going to be your go to platform. Even if you are not ready to invest with crypto but would like to learn about constant they also have a pretty extensive blog on the site that I use from time to time when I am not clear about something, so go give it a read and see if you too can learn something.