How Mintos works! Ultimate guide to start with Mintos p2p lending

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JANUARY 17, 2018 · P2P LENDING

How Mintos works and how to set-up "Auto Invest" to optimize revenues!

How to start with Mintos?

Many people love Mintos because it’s easy to use and it allows to select where to invest with extreme precision. I appreciate its transparency, its diversification, and its rich secondary market. Mintos manages to satisfy both the beginner and the advanced investor. Mintos is currently the most established peer-to-peer lending platform in Euros in Europe, and rightly so.

Reading time 4 min.

When I selected for myself the best P2P lending platforms available, comparing benefits and characteristics of every platform, Mintos seemed instinctively trustworthy right from the first click!

The main reason is that you can spare it a few minutes (one-off), set-up Auto Invest, not having to worry about it for months or years, and the system will work for you, or you can also intervene frequently and have a more active role if you’d like. It sounds like a scam, I know.

I had already glanced at Ratesetter, Smartika, Fixura, Blender, Bondora, Lendix, Twino, Funding Circle, and other European peer-to-peer websites, and right from when I was comparing their characteristics, Mintos seemed smooth and rich of functions.

How Mintos works Why to use Mintos?

Mintos hands on Step by step guide to build your auto-invest tool today Reviews on Mintos

Currencies: EUR-GBP-RUB-CZK-PLN-DKK-GEL-RON-SEK-KZT. At the moment, US citizens cannot register as investors at Mintos. US investors are, however, allowed to invest on Bondora.

Mintos simply connects investors and loan originators of various types and from various countries. It unites numerous lending agencies (corresponding to ‘findomestic’, just to be clear), and it gives us a considerable and organised series of loans to take part in, in exchange with 7% up to 18% returns (a 10 years Bund yelding less than 1%, is less risky, but..). To sum up: someone asks for a loan (for example, they buy a TV by installments), the agency grants it, and then it puts it on offer on Mintos; we can take a slice of it and receive a slice of the interests.

Why people are investing on Mintos?

This allows to diversify your investments in a geographical sense, too, but without exchange rate risk (that one does exist, but only for advanced users). If you’ve parked your money in the bank or if you’re tired of negligible returns, you will find it practical and extremely convenient to assign a part of your savings in this way.

This is what I’ve discovered when I invested on Mintos My first delight with Mintos was realising that you don’t have to pay for charges. It’s useless to fool yourself that there is something free in this world, and Mintos is surely a profit-based business, but a typical fault of banks is to make you pay to invest, then to manage, and finally even to exit the bad investments they ‘suggested’ us. Fintech exists to cut intermediation costs and Mintos seems indeed to try and do that. Auto Invest is for free, investments and withdrawals are for free; in the past, you had to pay to operate on the secondary market (as an advanced user), but now that’s free as well. It is natural that a risk is associated with such high returns, it would be naïve not to realise that, but in this historical phase it is still possible to ride the wave by taking the proper precautions and by continuing to follow this blog, I will let you know in due time if anything changes.

The second good thing was finding the right link from which to subscribe.

I’ll explain. Once you’ll have subscribed and you’ll be happy with the performance and with the returns, you’ll be able to, just as I’m doing, suggest it to whoever you want. The people who will subscribe out of your recommendation will have the immediate benefit of not having to start from scratch, because they will receive 1% more on what is on deposit. By extension, you’ll get your 1%, too, which will be happily received. These small incentives, at the moment, work to make people overcome their mistrust of new investment types such as this. I was suspicious, now I’m not (though I keep being alert).

So do make a good start, access from here and take your added 1% without having to do anything, without codes or coupons.

It’s easy to start, you just need 3 steps: 1. Insert your information 2. Make a free transfer to the specified account (in 9 european currencies) 3. As soon as the money arrives, activate Auto Invest.

You’ll automatically receive the payment instalments on your Mintos account. You’ll be able to transfer the money earned to your own bank account at any moment (I’ve tried it, it works).

Now that your money has arrived on Mintos, it is time to activate Auto Invest. This is a tool that makes users’ life easier. Set-up the filters as you prefer and the system will do the rest, without additional interventions. This step is fast and smooth, too, I will give you step-by-step advice on how to set it up to lower the risk and to optimise revenues.

LET'S SET UP MINTOS IN REAL TIME NOW!

It won’t take you long if you follow these simple steps, and that’s exactly what I did for my first Auto Invest test that is still working today! I've also built some much more complex and selective ones through my proprietary algorithm, but I'll not disclose now.

Everything you do in these steps is reversible and editable in the future, so don’t worry to make a mess. Moreover, you’ll be able to create other portfolios at any time with different characteristics and to make them work simultaneously.

Before continuing, I now invite you to repay the effort and the research I have put in writing this article: just share this post! It costs you nothing, and it feels great for me! Thank you!

As soon as you open the Auto Invest menu, click on the green button to ‘create new autoinvest portfolio’.

Once you open that (see photo below⬇), you’ll be asked the currency, set EURO (8 more currencies are available).

1. Loans originators 8/8 leave ALL selected (note: statistically pawnbroking and invoice finance loans are the more problematic) 2. Country 16/16 leave ALL selected (note: statistically Spain and Poland were the most problematic) 3. BuyBack Guarantee 1/2 select "yes" only buyback. This will prevent the system to buy you loans without guarantee. This measure could lower our revenues, but not enough to justify the risk, so it is better to deselect them. There are really few buyback-free loans in Euros for now, anyway.

Now you have to choose the agencies that grant the loans. We need to lower the risk here, but we want to have a big differentiation, too.

Whoever wishes to have an even bigger control on what they buy can specifically check and select for every originator in the list both the loan status of the payment (for that, select CURRENT), and the amortization method. For this last one, I think it’s more cautious and ethical to select only FULL. You have to do it one-by-one if you wish to. This passage is NOT essential ↓

Amongst the last questions, we have the return rate we want, and the length of the loans we buy. Don't be greedy, setting the minimum to 7/8% is good to get as many different loans as possible. Setting the minumum beyond 10% will reduce the variety of loans you're going to get.

It is wise to lower the length of months by moving the bottom pointer up to 36 months. This is another measure to lower risk, as 36 months are 3 years. In my opinion, it is more cautious not to go over 48 months, anyway. 4 years are ages in terms of investments. 24 months is a more conservative measure and it could lower your returns.

The semi-last selection has 4 easy questions.

Portfolio’s name. Any name will do, you’ll be able to change it whenever you want anyway. I normally write some details that make me easy to remember what's inside it.

Portfolio size can be any number you like. If you will have transferred 10000 € to invest all of it automatically, you could create a 10000 € portfolio, or two 5000 € ones. Or any you like. You'll be then able to cancel it or to edit every time you want.

The top-right question, ‘do you want to reinvest?’, asks you if you prefer that the money generated by the system is automatically re-invested in other loans, or not.

I suggest you choose YES, especially if you don’t want to spend too much time on this investment and if you want to enjoy the magic of compound interest. This allows investments to grow considerably their performativity in time, as you generate ‘returns on the return’. In this way, you won’t have non-invested money on Mintos as the loans are refunded to you.

The second question on the bottom-right is "Include loans already invested in". This is less relevant, but I suggest you to select NO. The third one is relevant! You have to "Diversify across loan originators", so opt for YES. (This is also our achievement. I personally invited in many occasions Mintos strategic department to allow investors to make sure distribution of loans among originators was the widest possible, and having this selection available now does make sure you get this goal). In a next future we'll also learn how to select the best performers.

Finally, we will state how the investment should be split. "Investment in One Loan": The minimum may be 10 €, the maximum should not be more than 50€ (in the right box set the max).

Let’s accept to tick ‘Assignment Agreements’, then press the red button ‘Save and Activate’.

DONE! YO U ’ R E A C T I V E O N M I N TO S . WA S I T D I F F I C U LT ? N OT R E A L LY !

From now on, you’ll enjoy a passive income on your account that you can monitor from the ‘Overview’ and ‘My Investments’ menus.

Do share this guide on Facebook with whoever needs it!

Many customers on a trusted reviews website are a rather good proof of genuinity, but we always keep a vigilant eye on it. Remember even if Mintos is a good choice at present, all p2p lending activities are not risk free.

Mintos has excellent reviews and opinions expressed on Trustpilot. Good reviews are also written by people not familiar with it and some did not even read this post before investing... Think about the power of this tool and in case you invest, use it wisely.

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This blog is for information purposes only and should not be considered as investment advice or an invitation to trade.

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