Well, I thought it was a good idea. At least it sounded very promising. Staking cryptocurrencies and earning passively. I thought the staking platform Mycointainer would lead me the way to cultivate and grow some cryptocurrencies. At first, Mycointainer really surprised me positively. But unfortunately this is not the whole story.

Probably in my article here on Publish0x about Mycointainer I was quite too optimistic. I wrote about Estonia as one of the most progressive countries in terms of digital services. I'm still sure there are interesting opportunities to enter the cryptocurrency market. Back then I praised Mycointainer as a very good option: "It is a staking platform that is very easy to use. Just log in, transfer money to your wallet on Mycointainer or send the cryptocurrency of your choice directly to your wallet. Mycointainer uses Proof of Stake coins with very high interest rates."

Positive surprise

In fact, at first I made positive experiences with Mycointainer. When I started with this platform I expirmented only with small amounts of money, not more than 100 Euro. I staked Dash and Waves with decent return rates. Mycointainer offers a yearly return of 5,1% for Waves and 5,5% for Dash. You have to pay staking fees, if you don't have a premium account. After all staking Dash and Waves have been at least profitable in a way, the amount of money locked in my account was not shrinking. To my surprise it was more than that. In the beginning I bought Waves for about 50 Euro. Half a year the price for Waves have increased by 48%. With this earned staking profits grew a bit, too. Although I have to say, the effect was minimal, because I only handled small amounts of money.

Downturn

I was positively surprised and I came to the conclusion, that the staking experiment with Mycointainer can actually work. I wanted to expand my staking opportunities. I thought, Polkadot and Cardano are good assets. Again, I wanted to test the staking opportunities with a small sum. I had a bit less than 100 Euro in Bitcoin and 20 Euro of Cardano on Coinbase. On Mycointainer you can buy cryptocurrencies either with fiat money which can be transferred from your bank account to the platform or with Bitcoin. I decided to transfer Bitcoin from Coinbase and buy Polkadot for it on Mycointainer. You can transfer coins directly, too. That is what I did with Cardano. Transfering assets from another wallet to Mycointainer is easy. You just have to copy the appropriate adress. I made sure I sent the Bitcoin and Cardano to the right adresses. I checked several times before fulfilling the transaction. Then came the negative surprise. The funds didn't arrive. Honestly, I don't know what went wrong. I liquidated my Dash and Waves funds to compensate for this failure and decided to leave Mycointainer.

Conclusion

Mycointainer remains ambiguous to me. It can be a great staking platform. You have to make your own experiences. But after the last part of my experiment failed I decided to not use Mycointainer anymore. I don't know, if there have been some mistakes from my part during the attempted transfer of funds. I hope that Polkadot will be listed on Coinbase soon. I think, I'm more confident with buying it there.