Unbiased Mintos.com Review - Results after 19 months

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I've been investing in Mintos.com peer to peer lending marketplace since the beginning of 2017, or it has been already 19 months since I've been exposing my funds to this Latvian fintech platform. 

In the past 19 months, I've made a nice revenue of EUR 624.78 (before tax) from an investment worth little more than EUR 4,000

I should note that I have been skeptical regarding peer to peer lending business in general and I when started my humble journey with Mintos.com I decided not to invest here more than EUR 5,000. In fact, Mintos.com is the only one peer to peer lending platform I have tried, and I don't plan to try any other platform (yet). 

I really like the way how Mintos operates, these past 19 months here have given me a lot of confidence to trust the platform, buyback guarantee works excellent, all due loans have been bought back with interest applied.

Still, I won't hide my doubts in the longer-term success of such business, mainly because of the following reason - investments in developing economies. Countries and regions where Mintos.com operates right now seems are experiencing growth. Or, let's say - we are in the bull market, but what will happen during upcoming bear market? For me, EUR 5,000 is a maximum limit to invest here.

Remember your capital is at risk, never invest more you can afford to lose.

At the end of July 2018, mintos.com took the second largest position (after stocks) in my portfolio with 24.6% of my funds invested on Mintos.com marketplace.

Investment portfolio at the end of July 2018

Investment portfolio at the end of July 2018

The overall impact on the total portfolio for Mintos has decreased from all time height at 100% in January 2017 to little less than 25% at the end of July 2018. And I'm glad. The reason is simple:

  • My investment portfolio started just in 2017
  • I have diversified it in Stocks, mutual fund, crypto, cash and peer to peer lending

A diversified portfolio helps. Never put all eggs in one basket, as they say. 

24.6% seems kind of save level to be exposed to peer to peer lending, but in fact, I would love to limit this number around 20% this year.

Despite being just second in size Mintos, has been the top earner in terms of dividend income (loan repayment) in 2017 and 2018, in a passive income earning me EUR 624.78. Combined dividend income from stocks earned me EUR 587.47 since 2017. Mintos slightly beats income from stocks.

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: Sign up to Mintos.com here. By using this affiliate link for registration both you and I will receive — 1% of your average daily balance which should be paid in 3 installments for the first 90 days.

Remember - investments are risky, never invest more you can afford to lose.

Background - I first heard about this Latvian fintech at the start of 2016, one thing that made it attractive to me was an option to lend in Georgia (the country I've been living since 2011). As been familiar with overall Georgian economy and the fact that so-called fast credits are very popular among Georgian population, just oblivious I did it find appealing to monetize on it somehow. And Mintos seemed like a plan. See: Invest in Georgia - Peer-to-Peer (P2P) lending - Mintos.com

Now, some things have changed since I have been investing with Mintos, and one of them - currently investors cannot deposit GEL directly on the platform, I have expressed my thoughts on this in June 2018 dividend income report article.

About interest earned on mintos.com

During the past 19 months, I've invested in total EUR 4,056.72 and have made a profit from interest payments  EUR 624.78

Monthly income from Mintos.com

Monthly income from Mintos.com

Mintos.com contributes regularly to my dividend income with little over than EUR 40/mo

Withdrawing money and paying taxes

I have made two withdrawals this year, At the start of 2018 I decided to withdraw all interest earned on Mintos.com peer to peer marketplace and finance new purchases on Nasdaq Baltics Stock exchange  Later this year I repeated this action to fund some US stock buys. 

Now, from money earned on Mintos.com platform I should pay taxes, luckily the platform offers simple tax guidance for the citizens of Latvia, Germany, and other countries.

We are currently able to provide tax statements prepared according to German and Latvian requirements. Please note that tax reports for German investors for the year 2017 will be available from the end of January, 2018. If you are not tax resident of Germany or Latvia, you may still select your prefered country - this data will be used to inform the next countries for which tax statements will be introduced.

I requested my Tax Report, which was shortly emailed, and for 2017 seems I need to pay a tax from EUR 49.99 and not EUR 311 (as I thought at the start). As I'm not a tax advisor, I cannot comment much on here, but I believe the tax will be much greater for 2018, as tax seems is calculated only for fully repaid loans in the current year (interest earned + refund of base investment). As I have many long-term (48 months and more loans) these loans seems will be taxed in next years. Not Sure. Consult your tax advisor!