Mintos Review 2024 – Collect high returns with P2P loans

Investor Registration

Registration on the P2P platform is not particularly complicated and consists of the following steps:

1. Creating an account by entering your email address and password.
2. Entering your personal data.
3. Verification of your identity (e.g. with your ID card).

At Mintos you can also register as a company. After registration and deposit you are ready to invest in P2P loans. By the way, always pay attention to bonus promotions of the platforms to get advantages. You can find a constantly updated list of all bonuses in my P2P platform comparison.

Signing up with Mintos is not difficult.

How to deposit Funds

Depositing money is, as always, the easiest step in investing money. In your account you click on your balance at the top and then on ” Add money”. Then, after selecting the desired currency, you will be shown the transfer data that you can use. For example, I have created an transfer template for this at my house bank.

Please note that the first transfer must come from a personal bank account. This will also be verified for later payouts. By the way, you can deposit more than 4 different currencies on Mintos.

The deposit at Mintos works conveniently via SEPA.

How to withdraw money

If you want to withdraw capital or excess interest from the P2P platform, you also have to go to the account balance. Then click on “Withdraw money”.

You will not be charged a fee for withdrawing funds. The funds can only be withdrawn to the bank account from which the deposit was made. If you wish to register a new account for withdrawal, you will need to make a new deposit from a new personal account.

How long does the deposit take?

According to my Mintos review so far, the deposit will be transferred to your investor account within 1 – 2 business days. However, if you use Revolut*, for example, the transfer is sometimes already there in a few hours.

Can I deposit and withdraw with a credit card?

Currently, you cannot use credit cards for deposits and withdrawals. These transactions must be done exclusively through a bank account. Depositing through a bank account also serves purposes such as identification.

How does Mintos work?

After registering with Mintos, you generally have 3 options for investing your money in loans.

1. Via the automated Mintos strategies.
2. You can set up your own Mintos Auto Invest.
3. Or you can invest completely manually on the primary or secondary market.

By the way, don’t be confused by the term “debt securities”. That’s what the loan bundles are now called after Mintos was regulated in 2022. Sometimes they are also referred to as Mintos Notes. If you want to know more about Mintos Notes, you can do so here.

Automated Mintos strategies

With the automated strategies, you can choose between 3 ready-made portfolios to invest in P2P loans.

Your choices for the automated strategy.

Every strategy has its own opportunities and risks. Here is a brief summary of the most important facts:

• Mintos Core: Invests in all lenders on the marketplace with a Mintos Risk Score of 10 to 4.0.
• Conservative: Investments here are more security-oriented. Only lenders with a Mintos Risk Score of 10 to 6.5 are included in the portfolio.
• High-yield: Here too, investments are made in all lenders, but the focus is on a high return. Lenders with a Mintos Risk Score of 10 to 4.0 are eligible here.

For all strategies, a maximum of 15% of your portfolio is invested in one lender. Even though the strategies are certainly the easiest way to invest with Mintos, they are also made for the masses. Previous Mintos experiences of investors show that you should not expect more than average values.

Incidentally, the Mintos Score is an evaluation scheme from Mintos itself to show the security of the investments. We will come to that.

The Mintos Auto Invest

Mintos Auto Invest, on the other hand, is different. You can tell the automatic portfolio builder exactly which countries and interest rates you want to invest in. You can even invest in more than one of them.

After many Mintos experiences, I only use the Mintos Auto Invest here, for which there is also a separate guide on my blog (in German). The Auto Invest is a complex instrument, which would go beyond the scope of this article.

It took me a few years to find my way on Mintos.

After some time, I also discovered that the key to a successful investment strategy on Mintos lies in choosing the right lenders. That’s why the lenders are also evaluated in our rating, which should also help my readers. The rating is updated quarterly. For those who want more, there is the Premium section.

In which countries can you invest?

On Mintos you have the broadest P2P loan portfolio you can possibly have. At the moment, you can invest in over 60 countries around the world. However, many loan originators come from Eastern Europe. But there are also investments from Asia, Africa and Central America.

Which loans can you invest in on Mintos?

Those who invest in P2P loans here generate their returns from a colorful bouquet of different types of loans. The following loan types are currently available:

• Agricultural loans
• Car loans
• Car rental
• Invoice financing
• business loans
• Mortgage loans
• Short term loans
• Pawn loans
• and consumer loans

From my Mintos experience, the choice of loan type is ultimately of secondary importance.

What is the Mintos Risk Score?

The Mintos Risk Score replaces the old Mintos Rating. Here, the P2P platform attempts to evaluate the loan originators and thus their borrowers that are available on the marketplace. This should make it a little easier for us as investors to separate high-risk from low-risk companies. The evaluation is based on four sub-ratings, which are weighted differently. The results are displayed with numerical values that are divided into three risk categories:

• low risk (10-7.5)
• medium risk (7.4-4.5)
• high risk (4.4-1.0)

As an investor, you should not rely entirely on the risk score based on my Mintos experience, but it does provide an initial orientation. However, always remember that you are solely responsible for your investments. The score is updated regularly. You can view any changes on the info page provided for this purpose.

The Mintos Risk Score is a useful tool for evaluating risks.

How high is the return on Mintos?

The return you can earn on Mintos is individual for each investor. You can always see the current historical value at the top of the table and my own in the return ranking. Mintos also provides its own historical data, which you can access at any time.

Mintos reports its performance transparently.

What is the minimum investment amount on Mintos?

You have to invest 50 EUR per P2P loan or Mintos Note in order to be able to invest. Mintos Bonds also have a EUR 50 minimum investment.

Does Mintos offer a buyback guarantee?

As general, yes. But here, too, you have to check with each lender individually whether they offer it or not, or set the corresponding option in Auto Invest. The rules on when a loan is repurchased can also vary from lender to lender. In general, however, you won’t have any problems finding enough offers here.

Is there an app for Mintos?

Yes, there is a smartphone app for Mintos for both Android and iOS. From my Mintos experience, it is also the best P2P app of all P2P platforms (as of today).

Can you invest money in other currencies?

You can. On Mintos you can invest your money in more than 5 different currencies.

• CZK (Czech crown)
• EUR (Euro)
• SEK (Swedish krona)
• PLN (Polish zloty)
• KZT (Kazakh tenge)

Will I also receive the interest on late loans?

This varies from lender to lender. However, you can find an overview of who offers this function on the lenders’ overview page.

Here you can see who supports an interest payment from late loans.

Is there a tax certificate on Mintos?

Yes, there is. You can generate a tax certificate at any time by clicking on your profile.

Mintos Review: more about the risk

From my previous Mintos experience, the Latvian P2P marketplace is an exciting but not entirely passive investment in my portfolio.I have been invested here since 2015 and have therefore experienced quite a lot.

How does Mintos earn money?

Unlike many traditional P2P platforms, Mintos does not earn money from the spread between the loans displayed to the investor and the actual interest rates for the borrower.Mintos is a marketplace, which means that the lenders pay a corresponding fee to Mintos in the background for placing the loans on the marketplace.

In addition to this fee model, which is the main source of income, there are many other “sideshows” such as the secondary market fee, inactivity fee and other little things that occasionally flush money into the coffers. The annual report provides a detailed overview of the income streams.

Is Mintos profitable?

Mintos has been profitable since the 2022 financial year, which came as a surprise.

Since then, the trend in both turnover and profits has been positive! Mintos annual reports are also audited by an external body.

Excerpt from the Mintos Annual Report 2023.

What happens if Mintos becomes insolvent?

If Mintos were to become insolvent, investors’ rights to their claims and bonds would continue to exist regardless of Mintos’ status.

The insolvency proceedings would be regulated and supervised by the Latvian Central Bank. The appointed liquidator or administrator would take over the duties of the Board of Directors.

In addition, uninvested investor funds would be protected, allowing retail investors to receive compensation amounting to 90% of the permanent loss, up to a maximum of EUR 20,000. However, nobody knows whether and how the whole thing works in practice, as there has never been a case like this.

How reputable is Mintos?

With over 500,000 investors, Mintos is the largest platform on which I invest.

It is also currently the largest P2P platform in the world. Ever since I’ve known the platform, there have been controversies about it from time to time. For example, the largest shareholder of Mintos(Aigars Kesenfelds) often also owns shares in lenders, which regularly leads to discussions. Nevertheless, Mintos can be described as a reputable company.

This is also supported by the fact that the company is now registered as a regulated financial institution with the Latvian Central Bank.

How safe is Mintos?

Like all P2P platforms, Mintos is as safe as your diversification and selection of the right investments.

This is also the key to your success.

Make sure that your portfolio is clean and diversified into predominantly good lenders, then you will have a lot of fun here. As already mentioned, you can find help with this in the P2P rating.

Is there deposit protection on Mintos?

No, definitely not. Mintos is not a bank and is therefore not covered by any European deposit protection scheme. All funds that you invest on the platform are exposed to a high risk of default.

However, there is an investor protection system, which could help to save some funds if the worst comes to the worst.

Advantages and disadvantages of Mintos

Before we come to a final conclusion about the P2P platform, here is a summary of my pros and cons based on my Mintos experience.

Disadvantages ➖

• If you really want to be successful on Mintos, you have to deal with the lenders.
• As a marketplace, Mintos is often more affected by economic downturns than traditional P2P platforms.
• You invest through Mintos in many different jurisdictions where recovering losses can be difficult.
• There is always a lot of controversy and rumors that can make you feel insecure as an investor.
• The platform is quite complex and features such as Auto Invest can be a bit overwhelming at first.

On Mintos you can not only invest in loans!

Advantages ➕

• With over 60 lenders, the Mintos marketplace is the second most diversified product on the P2P market alongside Bondora Go & Grow.
• Even if you have to deal with the lenders, Mintos is pretty low-maintenance once you get the hang of it.
• Passive income from day one.
• If something goes wrong with a lender, Mintos will represent the interests of investors.
• Many lenders offer a buyback guarantee and also a group guarantee.
• Regulated company with audited annual reports.

Conclusion of my Mintos Review

Mintos is one of the largest P2P platforms in my portfolio and I have been an investor from the very beginning. For this reason, the crisis hit me much less severely than many other investors, as I was already a few years ahead of them in terms of interest rates.

Many investors fled the platform because there were a lot of critical voices and, of course, losses. But that’s part of the game, so I’ve never turned my back on the P2P platform, which wasn’t a bad decision.

The platform now earns me a good amount every month, which I also have paid out. However, the portfolio build-up there is far from complete, and I plan to invest new funds here in the future.

My interest on Mintos over the year since 2016.

Is there a Mintos forum where you can exchange ideas?

There are various places where you can exchange ideas with other investors and gain Mintos experience. The first address for this is the international Mintos Telegram Community.

Is there a bonus to start on Mintos?

Yes, there is a 15 EUR bonus on Mintos if you invest at least 1,500 EUR within 3 months. However, investments in Mintos Smart Cash do not count. If you decide to use the P2P platform, I would be grateful if you would use my link as an appreciation of this free contribution.

Register now on Mintos and get 15 EUR!*