Mintos Peer to Peer – Getting Started

I set up a Mintos account in July 2018 to see how well I can do in the Peer-to-Peer lending market. I am very new to this and only discovered this method of investing very recently. Being very new to peer-to-peer lending I don’t mind admitting that I really have no idea what I am doing. Because of this, I am only starting off with €2,000 which I have just sank into a wide variety of EUR buy-back guaranteed loans.

Mintos Account Summary

So far everything seems ok. I have been looking on also. I can see that there are plenty of other people involved in peer to peer lending in Ireland including the Mintos platform. Of course, I will be watching these forums and reaching out to the people on them in the coming months. My hopes here are to learn more from experienced investors and get a broader understanding of this type of investing.

Buy Back Guarantee - Too Good to be True?

The buy back guarantee sounds a little too good to be true to a new investor. Whats does this mean exactly? Risk free investing? No. After looking at a few platforms that offer this buy-back guarantee, I have a bit of a better understanding now. The buy-back is usually not offered directly by the investing platform. It is offered by the loan originator. The company who is providing the load to the end user. Offering a buy-back guarantee is like the loan originator saying “We believe this is a good loan venture.”

It’s an indication that, their books are in good enough order, they have done due process before offering the loan and they have enough reserve capital (or an insurance policy) to cover if the borrower defaults after a set period of time. Don’t be fooled though, while it might sound like buy-back guarantees are akin to risk-free investing that is not the case. You can see an example here by reading this article.

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Give it a try...

Get started on your own path to financial independence by investing in this Peer-to-Peer platform – yes this is an affiliate link and I get a bonus if you sign up through here. If you would rather not do that just search google for “Mintos” and go there directly.