Adding Effects
To add an effect, click the drop down labeled <Select An Effect> and choose an effect.  If you want to add effects to a track, you can click the FX button on the track to bring up its effect chain.  To edit the global or master effects, click the Effects button on the toolbar.

Choose a preset or fine tune each effect.

Add multiple effects in this manner.  The order is important.  (The effects process the sound from top to bottom).

(In the above example, there are three effects added: Acoustica Compressor, Acoustica Delay and Classic Reverb).

If you have your own VST effect and it is not showing up on the drop down, you'll need to add the folder that stores the VST effect to your list of VST folders.  In Mixcraft, this is done in the Effect Preferences by clicking the Edit VST Effects Folders buttons.