Mintos (P2P Lending Platform)

ct5amr2ig1nfhp

Nice to see they continue to work on the website. New dynamic charts added under "current investments".

Yurple

I recently got a decent sum of money from a court case... some people say Mintos is a risk to invest in and money is not secure, others say only to use the buyback option and it is a huge safe return on investment???

Is it safe to put a large sum of money in it?

Kuva

Yurple wrote: »

I recently got a decent sum of money from a court case... some people say Mintos is a risk to invest in and money is not secure, others say only to use the buyback option and it is a huge safe return on investment???

Is it safe to put a large sum of money in it?

Buyback is only as good as the originator and very hard to tell how good or bad most of them are, one shut up shop last year, people lost money. Saying that you can and should spread your money all over the place to minimise this. Mintos own some of the originators aswell.

Mintos is profitable, huge growth, they say they'll hit 1 Billion invested by end of September now, it was expected by year end. I think it has 39% share of the p2p market in europe now so looking good but who knows what regulation/laws may come in in Latvia to the P2P sector.

Ehh, maybe put some in Mintos, check the financials for one or two others and get a Degiro account going and set up a Kraken account for abit of bitcoin.

https://www.scmp.com/business/companies/article/2155357/investors-left-rue-losses-fraudulent-chinese-p2p-lenders-collapse

Look at this for a P2P fecking disaster^^^





^^Said by some random internet person who knows feck all^^

tom1ie

Hi all.
So I’m thinking of starting to invest in p2p lending and Mintos looks like a good place to start. I’ve done a bank transfer to the Mintos website and I’m just about waiting on the funds to show up in my Mintos account.
The money I’ll be investing is money I can afford to lose, but I’m just wondering if any one has made any profit on this and if they’ve been able to withdraw it from Mintos and back into there bank acc without any problems?
Also once tax has been factored in is there still a decent margin to be made?
Is there a way to avoid bank charges, as when I transferred money from my bank to Mintos I was charged 50c as Mintos is outside the sepa area. I know it’s only 50c but every little helps.
I’m planning on sticking to short term 1 month personnel loans and only investing 10 euro per investment, so my first first bunch of investments will be 10x 10 euro investments, all guaranteed buybacks.
There seems to be lots of these loans with 18% interest rates. This seems quite high, but do they get paid back? The loan has the buyback guarantee, but is that guarantee actually any good?
Thanks for the advice guys.

ct5amr2ig1nfhp

Revenue issued a guideline relating to p2p lending tax. Revenue eBrief No. 89/18. Return after tax depends on your income. P2P earnings are taxed at income tax rates.

Are you sending EUR? Mintos EUR bank is in Latvia and accepts SEPA payments. Who do you bank with?

The 18% loans are at a higher rate for a reason. Much higher risk due the currency. They are most likely Kazakhstani Tenge (KZT). You will need to factor in currency fluctuations if you plan to bring it back to eur at some stage. To give you an example 1 EUR = ~200 KZT (2015) , 1 EUR = ~425 KZT (today). the Tenge has more than halved in value.

You invested 100 EUR in 2015 at 18% (1 EUR = 200 KZT). You invest all the 100 EUR in KZT issued loans. You now have 200 KZT of loans.
By end of year, you have made 18%, giving you a return of 36 KZT. You now have 236 KZT (initial investment + return). However the EUR/KZT rate is now 1 EUR = 400 KZT. You convert your 236 KZT back to EUR... giving you 59 EUR. You have just made a substantial loss on your 100 EUR.

Looking at a few of the other currencies:
GBP... you have brexit
RUB... you have worldwide sanctions
KZT and GEL... geopolitical instability
USD... Trump

I would recommend you keep to your currency, I presume EUR? So only invest in EUR loans for now.

Edit: thrown in a real world example, figures will be slightly different depending on the loan types etc. but they are only approx figures to give you an idea.

tom1ie

Mylah Repulsive Bicycle wrote: »

Revenue issued a guideline relating to p2p lending tax. Revenue eBrief No. 89/18. Return after tax depends on your income. P2P earnings are taxed at income tax rates.

Are you sending EUR? Mintos EUR bank is in Latvia and accepts SEPA payments. Who do you bank with?

The 18% loans are at a higher rate for a reason. Much higher risk due the currency. They are most likely Kazakhstani Tenge (KZT). You will need to factor in currency fluctuations if you plan to bring it back to eur at some stage. To give you an example 1 EUR = ~200 KZT (2015) , 1 EUR = ~425 KZT (today). the Tenge has more than halved in value.

Looking at a few of the other currencies:
GBP... you have brexit
RUB... you have worldwide sanctions
KZT and GEL... geopolitical instability
USD... Trump

I would recommend you keep to your currency, I presume EUR? So only invest in EUR loans for now.

Thanks for that project moose. I am indeed investing in euro, so I’ll stick to that currency.
I bank with Ptsb.
If this question is too nosy please ignore it, but since you have started the p2p investing, would you say it’s been worthwhile and has made you any profit?
Thanks again.

ct5amr2ig1nfhp

I used to bank with PTSB and all SEPA transfers were free. Double check the charge on your statement.

I am happy with my return but p2p lending is only a small part of my investment portfolio.

littlevillage

Mintos have introduced a Loan Originator rating system. A, B, C, D

From my reading of it, this could be the short hand.

A = Awesome
B = Better than average
C = Chancey
D = Disastrous

:-)

ct5amr2ig1nfhp

Interesting looking at the comparison between Mintos ratings (link and link) and explorep2p.com ratings (link)

Mintos have rated Capital Service as high risk or 'elevated' risk, whereas explorep2p.com have rated them as 12th of 48 originators. I would call that low-moderate risk on the explorep2p rating system.

Eurocent is the only one to have a Mintos D (default) rating.

My take away - why are Mintos listing loan originators that they themselves rated as C rating, 'a company with considerable weakness in financial performance and standing... '8 of 48 originators have a C rating.

littlevillage

Mylah Repulsive Bicycle wrote: »

Interesting looking at the comparison between Mintos ratings (link and link) and explorep2p.com ratings (link)

Mintos have rated Capital Service as high risk or 'elevated' risk, whereas explorep2p.com have rated them as 12th of 48 originators. I would call that low-moderate risk on the explorep2p rating system.

Eurocent is the only one to have a Mintos D (default) rating.

My take away - why are Mintos listing loan originators that they themselves rated as C rating, 'a company with considerable weakness in financial performance and standing... '8 of 48 originators have a C rating.

I think Mintos were coming under pressure to explain the criteria they use when vetting Loan Originators....... and this might be the result. It might also be possible that Mintos are covering themselves in case of another Eurocent ?

If for example a C graded Originator goes to the wall.... Mintos can explain it away.

the watchman

no post since aug '18. thats unusual. has a Mintos thread opened elsewhere?

at9qu5vp0wcix7

the watchman wrote: »

no post since aug '18. thats unusual. has a Mintos thread opened elsewhere?

Nothing for people to complain about - that's the only reason the LF thread is still going strong!

bohsman

the watchman wrote: »

no post since aug '18. thats unusual. has a Mintos thread opened elsewhere?

p2p lending thread is more active.

jaredGalen

Thoughts on the new Invest and Access feature?
Buyback investments, with option of selling at any time without the secondary market.

https://blog.mintos.com/returns-or-liquidity-why-not-both-presenting-mintos-invest-access/

ct5amr2ig1nfhp

There is some discussion on it in the main P2p thread here.

feelings

Dragging up an old thread!

Has anyone invested in ETFs on Mintos since their launch on the site? Any feedback positive or negative?

Sephiroth Crescent

https://www.boards.ie/discussion/comment/121818877#Comment_121818877

don't go near this site.

feelings

Any particular reason you say that?

feelings

So Mintos will be raising equity investment again through crowdfunding Crowdcube.

They previously did the same in 2020. Details here: https://www.crowdcube.eu/companies/mintos/pitches/qDJxrZ

https://www.mintos.com/blog/what-is-crowdfunding/

feelings

Mintos continuing to expand it's investment products from loans/notes. Bonds, ETFs and recently Real Estate.

Today they launched "Smart Cash" managed by Black Rock. Basically it's a money market fund (MMF) with up to 3.75% return.