MyCointainer.com is a staking service with headquarters in Estonia. The platform specialises in yield generation for cryptocurrencies through both custodial and non-custodial methods:
- Cold-stake crypto by delegating it from your wallet to MyCointainer validators
- Generate yield on your crypto through locked custodial staking
- Earn free crypto via on-platform airdrops and bounties
- Buy or sell crypto directly on platform
In this review, we will go through the process of buying crypto through MyCointainer staking platform and staking it.
You will get an overview of the staking services and a walkthrough to acquiring crypto with MyCointainer.
Yield-generating Tools on MyCointainer
The main product of MyCointainer is staking. The assets page lists all the options for crypto that you can stake by locking it up on the platform.
You will see some popular choices like USDC staking near the top of the list when you sort by popularity. But there are much smaller PoS cryptos supported as well.
Custodial staking is where you get the highest reward rate, but also where you take a risk because you need to keep your crypto on the platform:
If you don’t want to take that risk, you can delegate your crypto for cold staking to validator nodes run by MyCointainer. The rates are still really good:
Rates retrieved 12 Jul 2022. Staking rewards fluctuate.
Buying Crypto on MyCointainer: Payment methods
MyCointainer offers a mixture of custodial and non-custodial services, but buying crypto is one of the custodial ones.
Before buying crypto, you need to throw some cash in your digital wallet and there are quite a few ways you can do it on MyCointainer.
The platform is registered in Estonia, so if you are in the EU, the SEPA bank transfer might be your fastest and pretty much zero-fee deposit method.
For instant or near-instant deposits, MyCointainer provides several ways to deposit their cash via other digital wallets.
Digital wallet deposit availability depends on your location:
- AdvCash, which is a popular digital wallet in Russian-speaking parts of the world
- AliPay, the Chinese payment platform
- iDeal, based in the Netherlands
- Przelewy 24, the Polish e-commerce processor
- GiroPay, the German online payments system
And then there is the "Faster Payments'' option that supports a quicker transfer for 17 more providers including digital-only banks like Revolut or the German neobank N26.
Some of the other popular universal methods are wire transfers and credit/debit card deposits.
Other Ways for When You Don’t Want To Buy: Airdrops, EarnBack and Referrals
MyCointainer is a platform that targets the users who want to stake crypto but are just getting started and maybe don’t even have any.
That’s why the platform provides three options for those who are ready to invest a bit of their time rather than their money - airdrops, cashback and referral commission.
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The most popular option are crypto airdrops.
MyCointainer lists a few of them on their Airdrops Alerts page. As you can see on the page, all you need is a social media account and a few minutes of your time to participate in an airdrop.
Airdrops are one of the safest and easiest methods to earn free crypto these days. Most of them are time-sensitive, so pay attention to the deadline of the tasks needed to participate.
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Cashback via a Chrome add-on
On MyCointainer, you can also get cashback in crypto by installing the EarnBack Google Chrome extension.
Every time you shop online, you will get crypto cashback (up to 40% depending on the providers and the shopping category – accessories, electronics, groceries etc.).
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Invite a friend
As soon as you make an account and log in, you will notice a banner about a referral program in your wallet.
It's a no-brainer – invite your friends to MyCointainer and you both will get a 15 EUR worth of a staking crypto.
If you have a lot of friends, this will be the fastest and most "reliable" way to get your rewards for free.
Buying crypto – Walkthrough
Here's important info before you send money to your MyCointainer wallet: Their exchange purchase minimum is the 10 EUR equivalent of crypto. So basically, you can deposit as little as 1 EUR, but you won't be able to buy for it because it’s below the threshold.
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If this is your first time buying, deposit 10 EUR or more.
Once you have those 10 EUR in your wallet, you can pick any cryptocurrency you want, buy it and then stake in on platform or withdraw it. There are some pretty exotic options available.
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MyCointainer has partnered with several coin foundations including Polygon.
This means that you should expect to get tokens as a bonus for your purchase. Here I am getting NULS and DOGE on 11th July 2022:
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If you have no idea which coin you want to buy, go to the assets page and sort it by popularity to see what coins can you stake on platform.
If you’ll leave your crypto on platform, your staking rewards will arrive to your wallet daily.
If you bought for a few EUR like me it will be next to nothing, but it's nice to see that things have already started moving with the minimum effort from my side.
And that's pretty much it for getting you started. You can follow the value of your portfolio on the web or via the MyCointainer app.
Cutting your staking fees
If on the other hand you ever decide to hold more money on MyCointainer, you will probably need to also consider the fees. MyCointainer charges a cut on your staking profits, as do all staking platforms including exchanges like Coinbase or Bitfinex.
Unlike exchanges, MyCointainer offers an option to cut your staking fees by upgrading your account. There are several “Power” tiers that can cap your fees for a monthly subscription payment, or remove your fees altogether.
Final words
Despite all the ways to earn rewards available on the website, staking is the most profitable way of getting crypto on MyCointainer.
On the other hand, locked custodial staking is risky. If you don’t want to take that risk, you can choose to only take part in cold staking via MyCointainer’s validators. The rates there are fair and the selection of coins pretty good.