MyCointainer Review
-
Exchange
-
Staking
-
Fees
-
Customer Support
Summary
MyCointainer is a cryptocurrency stake developed in Tallin, Estonia, in 2018. This platform’s automated staking and master node staking enable users to profit from all digital assets. MyCointainer also performs the functions of a cryptocurrency exchange, aids in the organization of crypto airdrops and giveaways, and provides a Power subscription service for further exchange and staking rewards. Find out if this cypto staking is the right pick for your needs by reading our full MyCointainer review.
Pros
- Supports staking for over 100 crypto assets
- Incredibly high staking returns
- Cold staking
Cons
- Suspiciously high staking returns
- Poor user interface
- High fees without Power subscription
About MyCointainer
Established in 2018 in Tallin, Estonia, MyCointainer is one of the leading global platforms for crypto staking.
With its automatic staking and masternode staking platform, MyCointainer lets users earn rewards on all their digital assets via desktop or the MyCointainer app.
In addition to its staking services, MyCointainer also serves as a crypto exchange, helps facilitate crypto airdrops and giveaways, and offers a Power subscription service for added staking and exchange bonuses.
The platform has also recently renewed its license by the Estonian financial intelligence unit to support a safe and transparent community for crypto coin lending.
So, is MyCointainer legit? Is MyCointainer safe? Stick around for this in-depth review to find out and see exactly how it compares to the competition.
Crypto Exchange
The MyCointainer exchange supports 103 crypto assets, so there is certainly no shortage of trading options.
MyCointainer also supports nine different fiat currencies with a 2 EUR deposit fee for EUR, AUD, CAD, and JPY, 2.5 EUR fee for GBP, 3 EUR fee for CHF, and 10 EUR fee for INR, MXN, and RUB.
The exchange itself is very simple, with nothing but a basic order panel, so it won’t be a place for active crypto trading, but it should prove satisfactory for the average crypto investor.
If you want to deposit fiat money/buy crypto with fiat, you’ll have to complete the KYC verification, but you can also opt for a crypto deposit/crypto-to-crypto exchange.
A unique feature of the MyCointainer exchange is that it will give you an extra bonus (a small amount of a select cryptocurrency like DOGE) with every exchange.
That being said, the MyCointainer exchange is a bit glitchy and
MyCointainer Crypto Staking Rewards
With over 100 stake-able assets, the MyCointainer staking platform is one of the largest by number of supported assets in the crypto world.
Staking yields range significantly from asset to asset, but the lowest yield is 0.1% for ALGO, the highest yield is 101.4% for DEL, and yields for stablecoins like USDT and USDC are 10%.
However, the average yearly staking reward is 14.98%, which is considerably higher than most crypto-earning platforms.
One of the unique aspects of MyCointainer’s staking platform is its cold staking and delegation service.
With Cold Staking, you delegate your tokens to the MyCointainer node that stakes your coins on your behalf. Cold Staking offers the same network security benefits as regular staking and, therefore, the same rewards.
The advantage of cold staking is that you are still in control of the coins you own, and your rewards will be retained in your safekeeping. Your funds will be frozen, but the MyCointainer node cannot access your funds and will not have any portion of your stake rewards.
To stake any of the supported assets through MyCointainer and start earning crypto, all you’ll have to do is make a deposit, making it incredibly simple to generate profits.
The user interface is a bit simplistic (not in a good way) and could use some significant improvements, but it should still be relatively user-friendly for crypto beginners.
MyCointainer also includes helpful descriptions of all the supported assets so users can learn the basics before investing, which is always a great feature, especially for beginners.
As for fees, the average staking fee is 2.29%. In most cases, it does not exceed 1%, but there are coins where it can be as high as 30%, though profits generated by those coins are incredibly high as well.
Power Subscription
The MyCointainer Power subscription comes in three varieties, Zero, Max, and Percent, all of which combine Proof of Stake and masternode coins in one simple solution to earn crypto rewards.
All three plans waive the MyCointainer fees on all 300 exchange pairs, cut staking reward fees on all assets to 0%, and help with community causes through 1%, 7%, and 7% allocations, respectively.
The Max and Percent plans also include zero withdrawal fees with unlimited withdrawals at no cost (network fees are excluded), VIP giveaways & offers every month worth at least $200, and rewards matching for solo masternode hosting.
And the Percent plan includes all the above plus Partners’ Superb Rewards every month with automatic deposits of extra coins and up to a 24% discount on the MyCointainer token.
The Zero plan is 7.90 EUR per month, the Max plan is 14.90 EUR per month, and the Percent plan is 29.90 EUR per month.
How MyCointainer Compares to Competitors
As a platform primarily focused on crypto staking with over 100 supported assets, MyCointainer would best be compared to platforms with well-developed staking services such as WhiteBit, Nexo, and Binance.
All three platforms have much better user interfaces than MyCointainer, but only Binance supports as many assets.
WhiteBit only offers lockup staking for term durations, which isn’t always ideal for investors. Still, there are plenty of duration options, the staking rewards are great, and the platform is exceptional.
As for Nexo, the staking model is flexible like MyCointainer, but the highest returns are 14%, so it isn’t quite as high as MyCointainer. However, the higher returns on MyCointainer are for the more speculative assets Nexo doesn’t support.
Binance is probably the best option for crypto staking given it’s the largest (safest) exchange, has nearly all the coins MyCointainer does, offers double-digit returns, and has an amazing interface.
In summary, all three staking platforms have significantly better designs and would be much better choices for investors looking to earn rewards on their crypto.
If your focus is on the absolute highest yields and obscure assets platforms like WhiteBit or Nexo (and maybe even Binance) don’t support, MyCointainer could be for you, but, short of that, it’s hard to see a reason to choose it over competitors.
Conclusion: MyCointainer Review
After carefully walking through all of MyCointainer’s services, we believe MyCointainer is a good platform to earn interest on multiple crypto assets through staking, but it is far from the best and has suspiciously high yields.
Although generating passive income is technically as simple as making a deposit, the MyCointainer interface is incredibly underwhelming. While simple in its design, it seems to be missing a portfolio page or way to easily view and manage your investments.
The platform also struggles with various grammatical errors and loading issues that bring its reliability and legitimacy into question, which is the last thing anyone wants in a platform housing their investments.
The staking returns MyCointainer offers are very impressive, but such impressive returns that only require a deposit should be met with extreme skepticism, especially in today’s crypto market with lending platforms struggling to remain solvent.
If you are a crypto investor looking for high risk-to-reward opportunities for altcoin staking, MyCointainer is a decent option to consider, but anyone serious about investing or investing for the long term will want to consider safer and more user-friendly alternatives.
We hope you enjoyed this MyCointainer review.
