Crypto

Man Cryring

I am Looking for a New Crypto Lending Platform

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I am looking for a new crypto lending platform and I will update you if and when I find one. Keep reading to find out why.

Must all good things come to an end?

I was about to write my monthly update for how MyConstant was working for me and although it is still doing pretty good I was sad to see that the interest rate for crypto was going down. It was previously 8% APR and I thought is was awesome. That is one reason I was a big advocate for the platform. It was subsequently reduced to 6% and I just received a heartbreaking email letting me know that the rate was dropping even further to 4%.

The reason for the 4% return was that there was less of a demand for crypto loans by the exchanges. Talk about a buzzkill. I was not overly surprised by the drop in the rates though. Recently MyConstant had lowered the fiat rates as well. I am not entirely sure why they dropped, but I would guess that the site is getting bigger and they have more capital to work with and as such they can afford to lower rates.

So I have some choices to make and I do not think they are going to be easy. I am on the hunt for a new crytpo lending site and I think I have some contacts who have been using a couple other ones with some success. I have not decided if I will shift some of my fiat money out of MyConstant but I generally like to find one site that can provide all my needs. The idea of tracking several different sites with money in each of them gets complicated the more I seem to have.

I used to use worthy as a spot to keep my emergency funds but when I saw that MyConstant was offering a percent higher return it only made sense to shift everything to MyConstant, especially with the outstanding rate they were giving me on my crypto.

I know a few months back I mentionedFebruary 2021 MyConstant Update that I was moving and thought that I would need some extra funds for the move, so I was keeping the majority of my fiat in the flex account. It earns 4% APR which is not too shabby but, and there is always a but. I initially was a huge fan of the ACH transfer ability with MyConstant but the entire system got jacked up with so many reversals that they suspended the ACH function.

I tried the Zelle feature and it seemed to work fine sending money from my account to MyConstant. I was getting an error when I tried to send from MyConstant to my account. I am not really sure what the deal was with Zelle and I am not really a fan of Zelle anyhow. My biggest complaint with Zelle is the limits, which I consider to be way on the low side. I just tried to move some money via ACH (apparently it has been fixed) and I should have my funds back in my account in a few business days.

So I kind of went off on a tangent there, my moving experience has yet to be finished as finding a suitable home has been difficult and I may end up shifting focus to an entirely different region. With the possibility of having to make a major move I am still keeping a few thousand dollars in my Flex account.

I am looking for a new crypto lending platform and I will update you if and when I find one. So, until I find a better option I will keep my crypto in the MyConstant account. I mean 4% is better than no percent which is what most wallets or sites like crypto.com give you.

I know I have been slacking with my blog for the past few months as I have been on the road staying in various AirBNBs and have been working on a couple of other websites and projects. Not to say this one is not important but I have been dividing my time and taking a little break while I pursue some other avenues that have been in the works for quite some time. I will make a concerted effort to provide more content as I can see that my page views has gone down significantly with the absence of updated content.

As always thank you for reading, I would say leave a comment but I am disabling comments for now since I have been getting lambasted with spam comments and I just do not have the time to filter through them in order to get to the legitimate comments.

*feature image credit: Photo by Tom Pumford on Unsplash

BITCOINJAN

Update: January 2021 MyConstant p2p Lending Progress

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First of all I want to wish everyone a Happy New Year! I know we have all set some great investing goals for 2021 and I hope you achieve yours.

 This is my second MyConstant monthly update and I am planning to continue writing updates every month for a year to keep you guys in the loop as to how the site is working for me.

 There have been a couple changes, not only in my financial situation but also with the website and app. The site and app have both been updated and there are a couple cool new features that I will talk about. I have used some of them but there are some that I have not yet tried but can still explain what they are and how they work.

Gift cards have now been added to the site which is pretty cool. The best part is that you can save a little bit on the purchase of the gift card, actually up to 3%. There are currently over 40 different options (retailers) available and some pretty big names are available. For example there is an Amazon cash card and these days almost everyone is buying something from Amazon. Also there are food options like Dominoes Pizza. Very cool, cause I mean come on who does not like pizza?

 

 

 

 

 

 

 

 

 

The second new feature is called Feed and Give. Feed and give is a little emoji dog that you feed. You do basic tasks which give you different amounts of food. For example if you deposit you get 1.5 lbs of food, if you just do a daily check in you can get .5 lbs of food and when you get 3 lbs you can feed your little dog. There is a feature to compete with friends but the coolest part of this feature is that you can donate the coins you earn to charity. I think this is something great that MyConstant has rolled out as a way to give a little something back.

 

The third and probably the best is the Prize Wheel. Since MyConstant is now two years old (Happy Birthday BTW!) you can send them a Birthday wish and complete a few other tasks to earn spins on the wheel. The grand prize on the wheel is $1,000 USD. I have not won the 1k prize (yet) but I have won a ton of membership points (which can be used for more spins) or used to upgrade your status to a gold membership. I will share that I did win the $1 prize. I hope my long lost relatives do not come out of the woodwork looking for a handout.

 Those are the three new features on the site as for me, I set a goal to get back up to where I was previously with my investments and I was able to put another $4,000 into the site. I have most if it invested in the 30 day 6% APR loans since I like the liquidity and a little bit in my Flex account.

 You might be wondering why I bother to keep a little in my Flex account when the rate is 2% higher in the 30 day crypto backed loans. Well there is always the hopes of snagging one of the highly lucrative secondary market orders. If you think this sounds complicated let me tell you the hardest thing about those is the timing. They open them up and you just click on the ones you want to try and fund. All the ones who want in are placed into a “pool” of investors and one is chosen. They are only open for a few minutes so I have the notifications turned on so I can try and get some. I have been successful on some in the past.

I might have to pull some money out next month as we are moving to another house and there are always extra expenses involved with that. I am hopeful that I will be able to replace whatever funds I pull out very quickly though. So right now MyConstant is kind of where I am keeping my extra cash so I can earn interest at a much higher rate than any bank could ever offer right now.

Finally we have all seen the crypto market on fire and next month I will talk a bit more about the changes made to the crypto interest and give an update on how much interest I am earning on my Bitcoin. I will give you a hint, it is doing pretty darn good right now.

As always I encourage others to sign up and get in on this greatness. If you use my referral link I do get a small bonus for you signing up through the link which costs you nothing. Thank you for reading I appreciate it and happy investing.

 

Pi

Grab a Slice of the π

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There is a newer coin coming to a phone near you! 

You might have heard someone say “Get a piece of the Pi” , “Grab a slice of the Pi”, or heard claims of a crypto currency that you can mine on your phone. I know you probably think of a Crypto Mining Farm with a bunch of Antminers set up on shiny silver racks humming away while they mine for coins. 

This is a different approach to mining and honestly I think it provides more opportunities for the small guy. We have historically seen that mining requires not only a treasure trove of expensive mining hardware, but also requires a substantial amount of energy to run the machines. Often times, depending on your market the reward for moving is outweighed by the electric bill associated with mining. This may no longer be the case with the recent spike in the #bitcoin price.  

So what is all the hype? Well with the push of one button (after opening the app) Android or Apple you can be on your way to mining #crypto. I am not kidding when I say it takes me less than one minute a day. The mining cycle runs for 24 hours. Basically that means that you should start your mining at the same time everyday otherwise you miss out on some mining time. 

There have been a few different updates and I think the app is now available in close to 30 different languages. This I think is going to be key if they want to the coin to be adopted world wide. Allowing people from literally all corners of the world to access the app in their native language is going to really pay dividends later on. I know for me I have viewed the app in English, Canadian, Australian, and I am kidding. But the best way to find out if the app is supported in your own language is to download it and check it out.

Of course I would greatly appreciate it if you would use my referral app, it costs you nothing and allows us both to mine Pi a little quicker or at a faster rate. Once you get the app (and a free Pi) you will get your own link like mine.

I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 9 million members worldwide. To claim your Pi, follow this link https://minepi.com/theincomebeast and use my username (theincomebeast) as your invitation code.

Source: https://coindataflow.com/en/currency/pi-network

As you can see from the screenshot there are around 9.5 million “pioneers” who are currently mining Pi. What does that mean? Well, it is a sign that there are already many people who are interested in mining the  coin and I would imagine that some of those will drop off after the 10 million because the mining rate will slow down a little bit. 

We are currently mining at .4 pi per hour and just like other coins this will half and we will be earning .2/hour. I still think that clicking once a day is a pretty good deal for earning some crypto. I know many other faucets that pay much less for doing a lot more. 

Once you download the app and start mining you will be part of my mining pool. With more people in your group you will earn a little quicker. You should then start sending your invite code to build your own mining group. Or, feel free to share my link. 

I will mention right here that there is some Know Your Customer (KYC) requirements. I know this is a deal breaker for some people and I like the idea of anonymity just as much as the next guy but there are probably some regulations that require the KYC and also this will cut down on the sneaky ones that have three cellphone and an iPad all mining Pi with different fake names. 

When I signed up there was no KYC requirement but they recently made that change in order to withdraw your Pi. They had an announcement on the app that would allow you a one time free name change that they said must  match the name on your ID. 

I like to save the best for last. As you can see right now the value of one Pi is .68 USD. Since I have a little over a thousand already mined that would be roughly $70 and I have not been mining very long.

Source: https://coindataflow.com/en/currency/pi-network

You might be wondering when these coins are going to be available for purchase and when you might be able to sell them. Well for that we need to be in phase 3 which I believe we are going to see happen in the near future. Until then, just keep on mining and good things will be sure to come.

 

Source: https://coindataflow.com/en/currency/pi-network

I always welcome comments or questions so if you have any thoughts on the new Pi Network feel free to leave a comment. Thank You for reading.

Bitcoin_in_Hand

MyConstant p2p Lending Update December 2020

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If you do not know by now I am a pretty big fan of a rather new peer to peer (p2p) lending site that offers more than the typical unsecured p2p loan options. I am starting a new series of web articles about MyConstant.com and I will be giving monthly updates. I plan to do this for a year, so that I can track my progress of building up not only #Crypto mostly #bitcoin but also to build up some USD.

This would probably be a great spot to insert my goal and outline what I hope to accomplish with this platform. So, I want to be able to build back up to at least $5,000 USD to continue to invest in the crypto backed loans at the current rate of 6% which will bring in $25 monthly. Additionally I would like to make some moves with my crypto holdings which would bring me up to at least 1/10th of a Bitcoin by the end of next year. So I threw down the gauntlet on my goals and I am confident that by using MyConstant I will not only achieve those goals but most likely I will exceed them. (Check back next month to see where I started and how much I have improved.)

You may have read some of my previous postings about MyConstant and how the platform functions. In case you have not you can either read one of them here or here.

In essence MyConstant is a p2p lending platform. I know what you are going to say. I had bad experiences with p2p lending in the past as well. In fact I have a few sub-standard experiences with Groundfloor I could share with you right now. I am telling you though this one is different. That is what everyone says though. Hopefully after you see the progress I am going to make with MyConstant you will be convinced and will give it a try for yourself.

I think it was the Oracle of Omaha, Warren Buffet, himself who said “the number one rule of investing is to not lose money” and the number two rule was “never forget rule number one.” Or, something along those lines. Now I personally cannot say that I have never lost money on an investment. I can say that thankfully I have made more than I have lost. I can also say that I have never lost a single red cent through the MyConstant platform.

My whole mission is to share information with other people that they could use to increase their wealth. I truly believe there is enough wealth in the world for everyone.

 I do not sell, push, or promote any get rich quick techniques or promise that you can double your money overnight. I can assure you though that with the MyConstant platform everything is explained pretty clear and what you see is what you get. I have invested several thousand dollars at a time in this platform and again, I have never lost a penny.

A quick disclaimer: I do have referral links in my articles and in the future I plan to have an affiliates page built into the site. But once again the reviews I write are my own thoughts and my own words, I share my honest opinion and if a site is great I want to pass that along. If a site is shady or I believe it to be a scam I am not afraid to point that out as well. I will have an article shortly about a crypto trading platform that scammed me out of $200.

As I mentioned I had several thousand dollars invested in MyConstant. I say “had” because I had to pull some money out of the platform to pay for a purchase we made recently. This was pretty simple and I had my money back in my account in a couple days, typical for an ACH transfer.

I am someone who does not like debt at all. I have been drowning in debt and I have been debt free (including my mortgage). I will say that debt free is definitely a better way to live your life. If you are not debt free (yet) I hope you can experience that freedom soon.

One thing that MyConstant does is it allows users to store cryptocurrencies on the site and pays interest on that digital asset. Right now I only have Bitcoin stored in the site which has been on fire during the end of 2020. I bought into Bitcoin when it was around $8,000 USD to one Bitcoin. I am always leery of these digital currencies and did not purchase very much. All in I think I have about $600 invested. With the current price of Bitcoin hovering ever so close to the $20,000 mark I could sell half of my Bitcoin and recoup 100% of my investment.

If you follow me on instagram you might have seen the post where I showed everyone the email I got from MyConstant indicating that I earned $10 USD in Bitcoin through interest. My current holdings in BTC are not substantial but the current rate of 9% APR compounded every second adds up. I plan to keep storing some BTC on the site and will continue to let that balance build.

I can say that if you are not interested in buying Bitcoin there are ways to earn crypto for free. How you ask? Well, there are sites that are called crypto fountains. You basically get a free click usually every hour or so and they reward you with small (like really small) amounts of coins. When you have enough you can transfer to a wallet. Once you have .005 worth (as of Dec, 2020 that is about $90-$100 worth) you can start earning that 9% APR.

There are many out there who do not want to even mess with crypto and I understand that. There are other ways to earn decent interest that I will cover next month. So, be sure to check back often.

Thanks for reading, please leave a comment or any questions you might have.

US dollar Bitcoin

An Update to MyConstant

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I wanted to update you on what I have been doing with my constant.com account and share some of my thoughts on how the site is working for me so far.

I came across the site after a contact on instagram had mentioned it, that was about a month ago. There are several different aspects of the site and different advantages to each of them but I will just talk about the ones I have actually tried.

If you head over to the site and get past the Know Your Customer (KYC) requirements you will see that you are able to link your US bank account to the site. I know that some people are sometimes hesitant to provide personal information but providing your information helps protect against fraud and other illegal activities like money laundering.

Additionally the ability to link your bank account is great because it allows you to send money through an ACH transfer. You are also able to send a wire transfer but honestly my bank charges way too much for wire transfers. 

Zelle is a service which allows you to send money back and forth between US bank accounts and is usually pretty fast. I have Zelle but my issue is that mine is connected to a different bank account and Zelle had given me issues in the past while trying to connect multiple bank accounts so I don’t use this option but it might be quicker than the ACH transfer since it will take a couple days to get the money into your Constant account.

I am always skeptical in the beginning and I only transferred $60 as a “test run”. Once my first deposit hit my constant account it went directly into my “flex” account. 

I really like the flex account for two reasons. The first reason is that any funds in the flex account earns you a %4 return. We all know that the way current interest rates are it is impossible to find that kind of a return in any traditional account. 

The second reason I really like the flex account is the fact that this money is earning interest and is compounded every second. You might be curious what that would look like. Well, depending how much money you deposit you can literally watch the money growing. 

Something that is really cool, and I wrote about this in my first article about Constant is that they actually give you a trial deposit of $3,000. That really gets the interest machine cranking. 

Another feature that Constant has and that I have boosted my deposit level is they give you interest on three different crypto coins. The current rate is set at 9%. So, if you are like me and have a little crypto sitting in your wallet earning nothing you could be raking in 9% on that idle crypto.

The concept of giving interest on crypto deposits is something that others are starting to adopt and I think it will continue grow in popularity, especially as crypto becomes more mainstream. I will add that the others sites that are offering a return on crypto deposits are not as high as Constant’s return.

As with the Flex account the interest on your deposited crypto is also compounded every second. The counter for the crypto does not move as quickly as the one in the Flex account but if you watch it for a minute you will actually see it increasing. 

I currently have a small amount of Bitcoin (BTC) stored with them that I am holding onto in the hopes that the value spikes in the near future. If the value does shoot up to my personal sell point then I am able to transfer it out and sell it right away. 

The thing about the Flex and the Crypto accounts is that these are highly liquid, meaning you can withdraw them whenever you would like. There are no delays, lock ups, or fees which you will not find with some of the other sites who are offering similar opportunities. 

For me the whole idea of not having fees is great, and something I am always searching for. Too often sites will add a small fee to whatever plan they are offering and although it might not seem like much in the beginning those fees carnally add up over time. 

There is one more feature that I am currently using through constant that I am stoked about. It is the ability to loan your money from your Flex account at an even higher rate than the 4%. 

Although I have made several p2p loans through this portion of the site, I have yet to have any of them reach maturity. I think it would only be fair to write about this feature once the loans have gone full circle. If you check back in a couple weeks (mid September) I will have an updated post about how this is working for me.

Thanks for reading, if you enjoyed this post please share it with a friend. If you have anything to add or have more questions leave a comment.

myConstant.com

Constant: Earn a return on your crypto

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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.