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Constant Review

Earn on average 6% interest per year.
Your investment is secured by a cryptoassets.

Highlights
  • Invest in crypto-backed loans
  • Earn up to 7% per year
  • High availability of loans
  • High liquidity
Rating
Risk & Return
Usability
Liquidity
Support
FEATURES
Buyback GuaranteeNo
Auto InvestYes
Secondary MarketNo
CashbackNo
PromotionsNo
DIVERSIFICATION
Min. Investment$10
Countries1
Loan Originators1
Loan TypeConsumer
Loan Period1 - 6 months
Interest4% - 7%
PROS & CONS
  • Overcollaterized assets
  • Automated investments
  • Fast liquidity
  • New P2P crypto-lending site
  • Lack of transparency
  • Rather complex products
_News
_Statistics
_Promo
_Risk & Return
_Due Diligence
_Usability
_Liquidity
_Support
_Summary

Constant Overview

Constant is a recently launched P2P lending platform that offers investments in crypto-backed loans. Constant claims that your investments are secured by collateral or a buyback guarantee. This makes you believe that you can’t lose your money. Is it too good to be true? Let’s find out in our Constant review.

constant review

⭐ Learn more about our rating criteria

Constant News

Last update: 14/09/2020
  • 14/09/2020 - We have currently no news from Constant

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Constant in Numbers

If you are interested in some statistics about Constant’s past performance, you will be disappointed. There’s almost nothing to be found on Constant’s website.

Constant Statistics
Year founded:2019
Investor's earnings:-
Total loan value:+ $30 M
Amount of investors:-
Loss of investor's money:0%
Average portfolio size:-
Latest financial report:No report

As any P2P lending site that offers crypto-backed loans, Constant also lacks a dedicated statistics page, where you could gather some information about the loan volumes, investor’s earnings, or read the latest financial statements.

The only information we have retrieved was from unofficial external sources.

The lack of reliable statistics is the first major red flag.

Constant Bonus

Constant does not offer any bonuses for new investors; however, it pays out a hefty commission to promote this crypto-backed P2P platform. This enables the company to create a lot of positive buzz around its brand.

If you prefer to invest on a more transparent platform, head over to our cashback bonus section on P2P Empire to grab your P2P lending bonus for new investors.

Constant Requirements

Constant does not inform investors about the requirements they need to fulfill to be eligible for investing.

So here’s what we found out:

  • You need to be over the age of 18
  • You need to pass the KYC procedure and upload a copy of your ID and proof of address

There’s no requirement in terms of residency, but Constant only accepts deposits in USD or Crypto via wire transfer or direct transfer via ACH or Zelle.

Risk and Return

Investing in P2P loans is always risky, especially in the case where the platform fails to address even basic due diligence questions.

First of all, you should know that Constant is not a bank or a deposit account or a regulated financial institution.

While the P2P lending site claims that overcollateralized assets protect your money, there’s no guarantee that you will receive any interest or your money back after you deposit funds.

Constant offers the following four products:

  1. A constant account with 4% APR, unlimited and free withdrawals, and compounded interest every second without a minimum deposit - in this case, you invest in crypto-backed loans originated by Constant.
  2. A direct investment account with APR of up to 7% with a minimum deposit of $50 and an investment period of 30, 90, or 180 days. All loans are backed by crypto-assets, and you will earn between 6% and 7% APR, depending on the loan term.
  3. An investment account with 11% APR which invests in loans from loan originators such as Do Zarplati and Cubefunder. This product acts like a P2P marketplace, as we know from other European P2P lending sites. In July 2020, this offer has been suspended until the economies recover.
  4. A crypto investment account with APR of 9%. Instead of investing in USD, you are funding loans with your cryptocurrencies. You can lend in BNB, BTC, and ETH.

It’s worth noting that your USD funds will be converted into USD-backed stablecoins, which are then lent to borrowers. The borrower can then convert this in fiat currency and withdraw the money.

So now, you know what kind of returns you can expect. Let’s look at the risk factors.

On Constant, you don’t have access to any borrower data. What you know is that the borrower needs to deposit its crypto-assets to get a loan. There’s no credit scoring of borrowers.

It’s a very similar setup to P2P crypto lending sites such as Nexo or Coinloan. All websites promote a “savings account” like an investment product, which is misleading at best.

As an asset class, P2P lending cannot be compared with savings accounts backed by bank deposit schemes.

Constant is an unregulated provider that allows you to invest in loans. Let’s have a look at the team behind the platform and their terms and conditions.

Is Constant Safe?

Constant brags about press releases on big media websites such as Forbes or Entrepreneur. However, when it comes to transparency, you can’t even look up their team because it’s not on their website.

Who Leads the Platform?

External sources mention that the P2P lending site’s CEO is called Zon Chu. There is not even a single mention about this person on Constant’s website.

Zon Chu also does not have a LinkedIn profile to check. There is also no additional information about the team of Constant. Many press mentions on big media websites appear to be very well executed paid promotions to boost the P2P platform’s authority.

Would you believe that Forbes would write an article about a crypto P2P lending site that doesn’t even mention its founders and the project team? We don’t.

No presentation of the team is another red flag for Constant.

Are there Any Suspicious Terms and Conditions?

As with any P2P lending site, we advise you to read and understand the terms and conditions.

You should be looking at the way the platform stores your funds, their liabilities, and rules when it comes to amendments within the terms and conditions.

Storing your Funds

According to Constant, your funds are stored at Prime Trust LLC, who is a licensed custodian.

constant funds

That’s a more secure approach as Constant is not licensed by the authorities to store digital assets.

Liability

Constant is not responsible for any losses you might suffer from investing on the platform.

constant liability

This is a standard clause that all P2P lending sites use. Therefore, you should take claims like “fixed return” or “safe investments” with a grain of salt. There are no guarantees that you will receive your money back.

Amendments to T&C

Constant may amend the terms and conditions at any point in time without prior notice.

constant amendments

This puts you in a disadvantageous position.

Do you have access to individual assignment agreements?

We are not aware of any way to have access to individual assignment agreements. You are basically investing in a black box and hoping that Constant will deliver on their promises.

Potential Red Flags

  • Lack of transparency - no introduction of the team
  • T&C can be changed at any time
  • No statistics
Learn more about possible red flags here.

What’s Our Opinion About Constant?

Anyone who has some experience in P2P lending and does their due diligence will conclude that the risk and return ratio of investing on Constant is not worth it even though your investments are backed by crypto-collateral.

European P2P lending sites are more transparent and certainly more suitable for European investors and even investors from the U.S. who want to invest in P2P loans.

You can easily earn 10% APR by investing on a real-estate backed P2P lending site like EstateGuru. A great way to start investing is PeerBerry, where you don’t need to spend hours trying to find out who’s behind the platform.

From an investor’s perspective, Constant has nothing special to offer apart from referral commissions for publishers.

When reading through the Trustpilot reviews about Constant, you will get the impression that they were written by someone who has no prior experience with investing.

constant reviews

Most of the reviews were made from accounts that wrote just one review and had no profile picture, which increases the chance of fake reviews.

We are left with the same impression when watching some of the testimonials on Constant’s YouTube channel.

Constant lacks transparency, so we don’t recommend investing in this project until the concerns mentioned above are resolved.

Usability

After you have verified your identity you are eligible to invest into one of currently three available products.

  1. Flex
  2. Crypto-backed
  3. Crypto lend

Every product is slightly different and it comes down to the following three factors:

  • How fast do you want to access your money?
  • How much do you want to earn?
  • Do you want to lend your crypto?

Constant Flex

The “flex” product brags to deliver 50x higher interest rates than a savings account. You are simply investing into a pool of crypto-backed loans with annual yield of 4% and instant liquidity. The interest is being compounded every second and there’s no minimum investment amount you need to deposit. You can withdraw your money anytime.

constant flex

Constant Crypto-backed

Instead of having the flexibility to withdraw anytime, with this product Constant locks your investment for 30, 90 or 180 days. In exchange you will receive a higher interest rate of between 6% and 7%, depending on the time you will lock your investments for. All your investment remains backed by crypto-assets.

constant crypto

Constant Crypto lend

Constant also allows you to lend your crypto. You can lend BNB. BTC or ETH for an annual interest rate of 9%. Even with this product, Constant offers instant liquidity. All your funds are apparently backed by the Constant guarantee which is a fund worth $3,000,000.

constant crypto lend

How Fast Can You Withdraw Your Money?

Constant promises fast liquidity for all of their products apart from the investment account with APR of up to 7%, where your money will be locked for 30, 90, or 180 days.

Due to the lack of transparency, we have not invested on Constant, so we can not verify this claim.

A handful of investors have reported withdrawal issues in the past.

Customer Support

If you have any questions, you can reach out to Constant’s support. The support team should get back to you within 24h.

Constant Review Summary

Constant is a P2P lending site that offers crypto-backed P2P loans with an APR of up to 7%. Constant offers fast liquidity, but due to the lack of transparency and information on their website, myconstant.com, we suggest staying away from this P2P lending site as the risk of losing your money is too high.

Main takeaways from our Constant review:

  • The platform acquires investors through referrals
  • Constant lacks transparency
  • Constant’s team is not introduced
  • T&C can be changed without prior notice

After our in-depth review, we cannot give Constant a positive recommendation. Instead, we suggest you have a look at more established P2P lending platforms.

Keen to try out other alternatives?

Company Information
Company:CONST LLC
Address:21800 Opportunity Way, Riverside, CA 92508, USA
Phone:+1 646 809 8338
Email:hello@moncera.com
Live Chat:Yes
Opening Hours:Weekdays from 9AM to 5PM
Social Media:Facebook, Twitter, YouTube