16 January, 2022 seen 479I've been investing in the Mintos.com peer to peer lending marketplace since the beginning of 2017, or it has been…
I've been investing on Mintos.com peer to peer lending marketplace already 6 months. In today's article, I'll share some of my key findings so far
Before continuing, please see Review of Mintos Peer to Peer Lending After One Month of Investing and Mintos.com Review after 3 month investing in Peer to Peer loans. There is one reason I'm investing here on Mintos - option to invest in Georgian Lari currency, as I've been living in Georgia for a while, I like the idea of having some of my money in the local market. See: Invest in Georgia - Peer-to-Peer (P2P) lending - Mintos.com
Both individuals and entities can invest through Mintos. Individual investors must be at least 18 years old, have a bank account in the European Union or third countries currently considered to have AML/CFT systems equivalent to the EU, and have their identity successfully verified by Mintos. At the moment, US citizens or taxpayers cannot register as investors at Mintos.
Affiliate link here: Signup to Mintos.com here. By using this affiliate link for registration both you and I will receive — 1% of our average daily balance which should be paid in 3 installments for the first 90 days.
About Interest earned on Mintos.com
During the past 6 months I've invested in total EUR 2,707.28 and made a profit from interest EUR 118.29. Mintos contributes regularly to my dividend income with about EUR 30/mo, and I'm looking to increase interest here to EUR 50, during next 6 months.
Monthly return on Mintos.com platform (February - July 2017)
Here is the fun fact, I actually started lending on Mintos.com already in January, it took me some time for my deposit to go through, more interesting to observe that in February I got even a negative return (-0.42 EUR) because of currency exchange fees. See: My Start at Investing on Mintos Peer to Peer Lending Platform: Depositing Funds
My investments are spread between EUR and GEL currency loans. GEL isn't the most stable currency, in the past GEL have lost it's value against EUR and USD a few times already, see:
- My February Savings Report - GEL Loses Another 16.5% Against USD; -17% Against EUR
- My Savings Report January 2015 - GEL Loses It's Value Against USD For 14% Since September
If you are lending on Mintos marketplace and you are exchanging EUR to GEL directly on the platform, keep in mind - GEL is volatile. Speaking of me, I'm depositing GEL directly on the platform and then exchanging it to EUR, it's pretty costly, but I don't care much as I'm more concerned of GEL volatile against EUR.
Mintos as part of investment portfolio
At the end of July 2017, mintos.com took second place (43.2%), after stocks (47%) from my total investment portfolio. The rest goes to - Mutual Funds 6.4%, Cryptocurrencies 2.6% and cash 0.8%
Portfolio structure as of July 2017
43.2% from total portfolio in peer to peer lending seems a bit high to me, and I'm planing to diversify more of from peer to peer lending loans, by increasing investments in stocks, cash and a little bit in crypto currencies. Right now, when looking on investments on Mintos.com marketplace, I can see increasing total amount to about 5,000 EUR, but not more, as frankly speaking - don't get me wrong, mintos.com is cool, rates are amazing, buybacks works great, but that's it - 5,000 EUR is limit for my investments here (for foreseen future)
Withdrawing money and paying taxes
I haven't yet withdrawn any money from mintos.com, though I'm planing to do so (withdraw interest earned here) in January 2018. I haven't paid any taxes yet (should do after withdrawal).
About secondary market
I have started to limit the long term loans in my portfolio, I did find I've a few long term (5 years and more) loans and decided to use secondary market to sell off some of them.
Mintos.com Secondary market
Unfortunately, after about 3 weeks already listed on secondary market, no loans have been sold yet. That might be a problem for those looking to exit quickly from mintos.com. If nobody will buy these loans, it means I will be "tied" to mintos.com platform until 2022. I don't mind using mintos.com for next 5 years, but let's agree 5 years are a long time, a lot can change (and will).
About Auto Invest
Auto Invest works like a charm, I've defined a few auto invest portfolio, all with buyback guarantee and longest remaining loan term 48 months (4 years)
Mintos.com Auto Invest
During the next 6 months I plan to increase my investments on Mintos.com marketplace to about EUR 5,000 both in EUR and GEL currencies.