This objective review of Mintos was certainly a help in the process of finding the best peer-to-peer lending platform! In this Mintos review, I’ll show you both the good and bad things.I am investing in six different P2P lending platforms (Mintos, Grupeer, Fast Invest, Lenndy, and PeerBerry). It’s a good thing that when you sell a loan on secondary market it will keep earning you interest intill the day it’s sold.The Secondary market and Primary market is around the same size so there is no shortage of loans.For the support at Mintos I only have good things to say. It can be that you’re in need of capital and can’t wait for you’re loans to Mature. Don´t you have to convert money to the different currencies before you invest? Now they have 3 offices around the world in Riga, Warsaw and in Mexico City. We simply haven’t seen how crowdlending performs in times of crises yet, so I believe it is high risk.I think that is a good idea, Filipe. I’ve heard about P2P lending, especially lending club but I never looked into it seriously.Can I ask. Mintos is coming a little more risky, looking at the recent LO defaults. In that way, I will not have all my investments in one place. P2P options are still pretty low, but it’s growing and I would like to give it a go because like you said the stock market is crazy lately. You should also use Mintos Ratings to get a credit rating for each loan originator to lower your risk.So, now that you know there are risks associated with investing in Mintos, you should know about Mintos risk ratings are a great tool to get some transparency on the risks you are facing investing in different loan originators.Mintos was the first P2P lending platform in Europe to introduce loan originator credit ratings. I hope this Mintos review helped out with some questions you might have had or just gave a clearer view on how it works at least.
Once an order is locked, there are no cancellations (except if you sell the loan on the secondary marketplace).I have invested in loans on the secondary marketplace and found it quite attractive.The secondary marketplace has a lot of loans available and most often some quite lucrative ones. The only difference is I choose a YTM of +15% for now because there are enough loans available in that range. As Mintos investors, we are somehow “buying claim rights” against a borrower (or against an originator of loans) based on the agreement we sign on every purchase.
Here you can hope they get bought by some other company and things go on like normal. Mintos has the most advanced platform with most functionalities. I know it is still high risk when the next financial crisis comes and many of these loans will default, so I’ll never invest more than I am willing to lose. The Invest & Access product yielded a return of 9% whereas my autoinvest strategies yield a return of 12%:Because of this, I have decided to only use my own autoinvest strategies going forward.On Mintos, I would always recommend diversifying your investments across many loan originators. The loan originator can go out of business. Else it would be similar to if a loan originator went out of business.Mintos isn’t the only P2P platform, there is a bunch of them out there. You’re not stuck with only one choice like most other P2P platforms out there. Again this makes them look and feel more secure. More towards the Loan Originator that they have the means to pay up if the borrowers don’t do it. Even though their FAQ section is well written and gives many answers, sometimes I just want to ask for reassurance.
But a promise from the Loan Originator that they will step in and pay you.
It starts after the Grace period remember that. Or it will be a legal process that will try and get all the money it can back to everyone. Excellent review! The only thing I can advise is that don’t get blinded from the extra percentage if this makes you go outside the criterias you sett from start so always be careful.Like the questions states there is no investment that is 100% safe.
Now, I’m just thinking whether I should diversify across more P2P lending pltaforms.I have the same concerns as you with respect to a potential crisis. Or, am I missing something?… Again, I’m new with this…Yes, there are quite a few people who capture great loans with high interest and sell them at a premium on the secondary market. I invest in different countries through the autoinvest option, but I only invest in EUR, which means I don’t convert/exchange money on the platform.
I’m not too afraid about putting all my eggs in one loan originator basket:I’m not a fan of spending a lot of time on my investments.
During working hours you can chat with an employee at Mintos within seconds.
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