MyContainer Review – How It Works & Is It Legit?
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MyContainer Overview
Getting into crypto can easily make you a lot of profit. It would be great if that is the only possible outcome, but we all know it is not. Whether you are an experienced trader or a complete beginner, trading can quite quickly turn into a nightmare and you can lose a lot of your budget.
Generating constant profits is not a walk in the park. Luckily, there is a lot of crypto platforms nowadays that make traders’ life easier. In this article, I will take a close look at one of those platforms, staking, and masternode system. The name of the platform is MyContainer.
MyContainer is a staking and masternode crypto platform that helps its users to generate profits in the form of stakes. The platform describes itself as the quickest and the best way to earn proof of stake (will be referred to as “POS” later in the article) cryptocurrencies. Without further ado, let’s jump into details.
What does MyContainer offer – earning apps?
MyCointainer’s website looks pretty well organized. The whole user interface has two colors – white and light blue. Options on the top of the homepage include Assets, Airdrops, Community, More (will break down most important services here), New transaction, and My account sections.
In the assets section, you will see a list of coins currently available for staking. Next to the coin name, you will see the current yearly return and the reward fee. For example, some of the coins currently visible in the assets section are Elrond (EGLD), Polkadot (DOT), Cosmos (ATOM), Harmony (ONE), Solana (SOL), Cardano (ADA), Bitcoin (BTC), Tether (USDT), and many others. The yearly return and the reward fee differ from coin to coin of course.
You can check the whole section here. Furthermore, I particularly liked MyContainer’s FAQ section since it has a lot of valuable information for beginners.
The rest of the services worth mentioning are Exchange, Airdrops, Cold Staking, and Grow. So, let me break each one.
Exchange
You get to the “Exchange” tab when you click on the “More” button in the top section. The first thing you see here is the daily bonus the platform offers you. For example, in my case, they offered me to choose between 0.05 Nuri or 0.1 Doge, and you even have an option to skip the bonus.
Below the “bonus” offer, there are three fields to fill out – “Exchange from” (you can choose between EUR or BTC balances), “Exchange to”, and the amount of the currency you want to exchange. Super easy and quick process, if you ask me. I like when the platform allows you to use their features with just a few clicks.
Airdrops & giveaways
For those of you now familiar with the term “Airdrop”, in the cryptocurrency world, it stands for free coins if you do some simple steps on various social media platforms. Airdrop seems to be a big part of the MyCointanier platform since the section is right next to the “Assets” tab.
When you open the section, you will see a list of current airdrops and giveaways. It includes the name and the amount of the coin being rewarded, which social media is required to complete the task, how long does it take to complete it, and when does the airdrop or giveaway ends.
Cold staking
Cold Staking is yet another exciting staking feature on the MyContainer platform. It allows users to delegate coins to MyContainer’s nodes and earn rewards. When you open the section you will see “available coins” and “how it works” buttons. Available coins at the time of writing (November 30th, 2021) are Avalanche, Fuse, Fusion, Dock, Harmony, and many others.
The whole process of the cold staking feature consists of three parts – you have to have your own coins in the MyContainer wallet, delegate those coins to their nods and sit back and wait for rewards. It might sound too simple, but MyContainer did provide an explanation on how to delegate each coin. For example, here is the guide on how to delegate Avalanche.
Here is our guide on cold staking via Ledger Wallet and Trezor wallet.
How does Mycontainer work? Masternodes and staking
MyCointaner works from stakes and masternode running. The core of the platform is the staking pool that generates rewards to all users even those with a smaller number of coins.
The rewards vary from coin to coin and are based on the coin consensus rule (rewards can go from 1% to 149%). All reward fees are transparent for each coin which is something that each crypto staker wants to see before decking whether to use the platform or not.
What separates Mycointainer from other staking and masternode platforms is the fact that even users with a small number of coins can make a profit. Furthermore, please note that every reward is subject to the compound interest which means the longer you stake coins on Mycontainer, the more rewards you will earn.
What assets are supported?
As already mentioned above, the assets section is easily accessible on the top side of the homepage. Some of the assets supported here are Elrond (EGLD), Polkadot (DOT), Cosmos (ATOM), Harmony (ONE), Solana (SOL), Cardano (ADA), Bitcoin (BTC), Tether (USDT), Loom Network (LOOM), Algorand (ALGO), Polygon (MATIC), Ethereum (ETH), Bitcoin Cash (BCH), and many others.
In general, all significant coins are supported on the MyContainer platform.
What APYs can you expect?
For those not familiar with the term, APY (Annual Percentage Yield) is a cryptocurrency saving, similar to the Annual Percentage Rate. It is actually an amount received on the principal amount (the money you put into the account) and the interest that has been earned.
APY on the MyContainer platform varies from coin to coin and it can be from 1% to 149%.
Supported countries
To be honest, there is no info on the MyContainer website about the list of countries where the platform can be used. This is a negative side if you ask me.
However, my assumption is that the MyContainer platform is available in more than 190 countries. When you look at their blog, you can translate it with one click on English, Russian, Arabic, Portuguese, Spanish, Japanese, Hindi, Chinese, etc.
Is MyContainer regulated?
The answer is yes here and this is actually one of the reasons why MyContainer stands out from its competitors. The platform is completely regulated by the Financial Intelligence Unit (FIU) and licensed (No. FVR000557 and FRK000469 ) that is allowing the platform to exchange fiat money for cryptocurrencies and vice versa.
Is KYC required?
Creating an account on MyContainer is pretty straightforward. You just need to enter an email, write your password twice, and then confirm your email with the link they sent you. The whole process is done within 2 minutes.
“According to the MyCointainer’s Terms and Conditions, the account should be verified in order to obtain full functionality of the website.”
Once you are done with creating an account, you have to go through the KYC (Know Your Customer) verification system in order to deposit and withdraw funds from the platform. I am a big fan of the KYC system since it increases the security of the whole platform and reduces the number of scammers.
Is MyContainer safe?
As the MyCointaner is a completely regulated system, this increases the level of safety and security of your funds as well. Your account should be perfectly safe. Furthermore, a mandatory KYC system additionally increases the security of all users.
The Bottom Line
After a very thorough investigation of the MyCointaner platform, I can safely conclude that it is one of the best masternode and staking pools in the crypto universe. If you have some portfolio in the cryptocurrency wallet like MetaMask, it would be probably better to stake it and earn rewards. Moreover, the MyCointaner offers users to earn more if they are longer on the platform which creates long-term relationships with users. All in all, my impression of MyCointaner is pretty high.
Keep in mind that these are only my opinions based on my thorough investigation of the ViaBTC mining pool. Please do your own research before deciding whether you want to invest in any of the above-mentioned features.
At this point, it is good to note that all opinions and suggestions written in this article are not considered financial advice.
Read also:
- How to Stake Cosmos?
- How To Stake On Kucoin?
- How To Stake ETH 2.0 on Binance?
- How & What To Stake on Coinbase?
- Best Staking Exchanges, Wallets & Services
- FTX Staking Review
- Best Ethereum Staking Platforms & Pools
- How to Stake Synthetix
- How to Stake (Shiba, VET, ADA, DOT etc.) on Crypto.com
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