Make money while you sleep

What is peer to peer investing? For those of you new into the finance world, peer to peer lending or investing (P2P) is a platform where you can invest your extra money online to others while charging an interest fee. That's right, you turn into a bank, people now owe you and also owe you interest on top of that. So your money grows while you sleep! This specific platform keeps your money safe, the only way your money is destined to go is up. Why should you join? Well, the Pros and Cons are as follows. Let's start with the Pros.

The first Pro is you get to make money for sure as you sleep. You get as of Feb/28/2020 at 11:50 pm 4% APY. Which if you're new to finances that is the interest rate that is owed to you. This compared to any savings account is no match. There are banks out there that offer the same 4% if you spend a certain amount but since you are not required to spend a certain amount every month with P2P, is the bank an option you want? It's all free for the investors. Even if you don't move your money you get 4% APY but if you decide to lend it and set your interest up for 8% APY that's double!

The second Pro is that your money is always backed up by collateral from borrowers "Borrower collateral is securely escrowed in either an Ethereum smart contract or a BitGo cold wallet insured to $100M." (This is directly from their website) They protect their investors as well as their borrowers.

The third Pro is that they currently have a great referral program! You can make money in two ways. 1) You and your referrals can make $10 easy per referral sign-ups. There is no limit as to how many can sign up. 2)Turns out 10% of what your referrals make goes to you for 360 days only. So you can make money from telling others about this that's profit 1, still, make a yearly profit from what people invest that's profit 2 and also no to mention what you invest yourself at 8% that's profit 3 and lastly every time you invest and your money just sits there in the account gains 4% APY profit 4. Must I say more? For more info visit (https://www.myconstant.com/referral)

The forth Pro is that you don't do anything but choose the amount, time, and percentage. The borrowers don't even interact with you. My Constant takes care of the algorithm that syncs both of you together. For example, I invest $1,000 for a year at 8% APY. Well, let's say you need $1,000 to borrow at a cheap rate of 8% for a full year. Their platform finds me you as a match to loan. If you ditch me and decide to not pay me, then your collateral is sold and I will still get paid. So the investor is always safe.

I get it, it sounds too good to be true, but I try different platforms before I decide to recommend them or not. Otherwise, my reputation will go down and people will stop reading my articles. So I say give it a shot but if you're skeptical just open the account and try it out with $50, after all, it's an investment. How about if you transfer your money back if your money goes down. I mean even if it's a missing penny cancel and close the account. That's how sure I am of this company. What are the Cons?

The first Con is they are working currently on adding more options to transfer money, they do not support anything else other than Zelle which is not a bad option but at the same time if Zelle is not what you use then you may have to just ride the wave till they update it. I prefer Plaid since you can just log into your bank account and transfer money just as if it were another account.

The second Con is that you need a minimum of $50 to be able to transfer money into their platform. No that's not a charge it just happens to be their minimum transfer amount. It is a Con since I wish I could just deposit $25 every check but can't. Now I have been transferring money at the end of the month both $25 so no problem. Before they would allow any amount but did not have all the new rewards so I guess they had to balance. At least it is free to transfer still.

If this is something you want to try out, click here for my referral code. You would grow your money and help me fund more articles for free.