Mintos is one of the largest European peer-to-peer lending platforms for consumer and small business credit that helps investors invest in loans. It is based in Latvia. You can invest as low as €10 and start earning an annual average interest rate of 11.1%. Mintos supports investors from all over the world. Mintos has investment features such as buyback guarantee after 60 days, auto-invest feature, and secondary market.
Mintos Review: Quick Facts
- Mintos p2p is the largest marketplace for loans in Europe. It is based in Latvia and supports investors from all over the world.
- Mintos minimum investment is €10 and you can earn an annual interest rate of 11.1% investing in the platform.
- Mintos has investment features like a buyback guarantee, secondary market, auto-invest feature, and a mobile app.
- Multicurrency support including EUR, USD, GBP, DKK, GEL, PLN, SEK, RON, RUB and CZK.
Mintos Marketplace AS was founded in 2015 in Latvia. As of 2022, it had over 484k registered users and had invested over €8.1 billion.
- 1 Who Can Invest in Mintos?
- 2 How Mintos P2P Works
- 3 How to Start Investing in Mintos
- 4 Mintos Features
- 5 Mintos Fees
- 6 Mintos Supported Currencies
- 7 Mintos Minimum Investment
- 8 Mintos Supported Countries
- 9 Mintos Supported Languages
- 10 Mintos Customer Support
- 11 Mintos Loan Originators
- 12 Mintos Investor Club
- 13 Mintos Invest and Access
- 14 Mintos IBAN and Mintos Debit Card
- 15 Mintos Alternative
- 16 Is Mintos Safe?
- 17 Advantages of Investing in Mintos
- 18 Cons of Investing in Mintos
- 19 Summary of Mintos Review
Who Can Invest in Mintos?
Businesses and individuals can invest through Mintos. To invest in Mintos, you need to:
- Have a European bank account
- Be at least 18 years old
- Meet KYC requirements
How Mintos P2P Works
How does mintos work? In brief, this is how Mintos works. Like the other popular peer-to-peer lending marketplaces, Mintos works in a very simple way. The company has summarized how to use Mintos using the chart below. In short, an investor deposits money in the Mintos marketplace. A borrower then borrows the funds and the loan originator evaluates the application, sets the interest rates, and then lends the money from its own funds. Then, the loans are listed in the Mintos marketplace where the investors can invest in them. In this, there are two markets in which you can invest in. There is the primary market and the secondary market, where you can get all the loans to invest in.
Mintos Primary Market
- You can find a wide variety of loans to invest in in the Mintos primary market. The primary market helps you to invest, diversify and achieve financial freedom.
How to Start Investing in Mintos
To start investing in Mintos p2p marketplace, follow these simple steps:
- Sign up. First, you need to create an account on Mintos to start investing. Create a profile by providing your personal details like name.
- Verification. You need to verify your account by uploading necessary documents like ID.
- Select an investment strategy. Mintos marketplace AS has various investment strategies and you need to choose one between diversified, conservative, high valuation and personalized.
- Enter the amount you would wish to invest. You need to specify how much you want to invest in Mintos. Mintos minimum investment is €10.
- Start receiving returns. Once you have invested, you will start to earn returns on Mintos. Mintos peer to peer lending pays investors an annual average interest rate of 11.1%.
Mintos marketplace has the following investment features that are accessible to investors.
Mintos Buyback Guarantee
Mintos has a 60-day buyback guarantee for all of its loans. If the borrower is late in repayment for more than 60 days, the loan originator can repurchase the loan. However, Mintos has a problem when it comes to enforcing the buyback guarantee. Therefore, as you plan to invest in Mintos, do not rely 100% on the buyback guarantee since it does not offer full protection.
Mintos Secondary Market
Once your investment has been approved, you cannot withdraw it. However, you can sell the investment in Mintos secondary market. Mintos has a secondary market where investors can sell off their investments if they want to exit the platform. You will be charged a 0.85% fee to sell your investment portfolio in the secondary market.
Mintos Mobile App
Mintos has a mobile application you can download on Play Store or App Store. You can use the app to create strategies, add money or withdraw funds from Mintos account, and monitor your portfolio from anywhere and anytime.
Mintos Auto Invest
Mintos has an auto-invest feature that helps investors put their investment in auto-pilot mode. Through the auto-invest feature, investors can diversify their investment portfolios. With the auto-invest feature, you only need to set certain parameters and when there is an available loan that meets the criteria, the system can automatically select and invest in it.
|Mintos investing fees||Zero|
|Mintos depositing Fees||Zero|
|Mintos withdrawal fee||Zero|
|Mintos account maintenance||Zero|
|Mintos investor support||Zero|
|Mintos currency exchange||From 0.50% depending on currency pair|
|Mintos secondary market||0.85% for selling loans|
|Mintos recovery charges (In some cases, Mintos may decide to hire lawyers or other third parties for the recovery of funds due to investors if we believe it might improve the outcome for investors)||Depends on the individual case but can’t exceed the recovered amount. We will inform investors about such charges before withholding them|
Mintos Supported Currencies
Mintos supports the following currencies:
Mintos Minimum Investment
The minimum amount you can invest in Mintos is:
- EUR 10
- DKK 80
- GEL 25
- PLN 50
- GBP 10
- SEK 100
- RON 50
- RUB 700
- CZK 300
Mintos Supported Countries
Mintos supports investors from 85 countries from different parts of the continent. Some of these countries include Andorra, Argentina, Armenia, Australia, Austria, Azerbaijan, Belgium, Bosnia And Herzegovina, Brazil, Bulgaria, Canada, Chile, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, Georgia, Germany, Gibraltar, Greece, Greenland, Hong Kong, Hungary, Iceland, Indonesia, Ireland, Israel, Italy, Japan, Kosovo, Latvia, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Moldova, Monaco, Montenegro, Netherlands, New Zealand, North Macedonia, Norway, Philippines, Poland, Portugal, Romania, San Marino, Serbia, Singapore, Slovakia, Slovenia, Sweden, Switzerland, Taiwan, Thailand, UAE and Vietnam.
Mintos Supported Languages
Mintos supports 7 languages that include English, Czech, German, Latvian, Polish, Russian and Spanish.
Mintos Customer Support
You can reach Mintos customer support by chatting with them through their website or requesting a callback from them. Besides, you can also send them an email.
Mintos Loan Originators
Mintos has a diverse profile of loan originators. It has over 60 lending companies from 32 countries place loans. Here are p2p Mintos loan originators.
Mintos Investor Club
Mintos investor club is an investment scheme for high-value investors. Members of the investor club get personal investor associates for personalized customer care via email or phone. You need to invest €50,000 to be a member of the club. Club members receive a number of rewards and bonuses.
Mintos Invest and Access
The Mintos Invest & Access approach allows you to invest in a diversified number of loans similar to that of Lending Club. You set a goal amount and all the money that you send to Mintos is automatically spreaded of over a wide range of loans, from over 30 loan originators in over 20 countries, with various loan periods.
When you want to liquidate your investments you can take out all the current loans at any moment, without a fee. This means that they are sold on the second market for the current principal. This generally takes less than a minute because of the liquidity on the second market loans at Mintos.
You can expect at least 50% of your loans to be current, but more likely over 70%. The remaining loans will either become liquid after 60 days at the latest, thanks to the buy back guarantee.
The table below shows some of the features of these investment types.
Mintos IBAN and Mintos Debit Card
Late 2018 Mintos raised 5 million in a Series A round to provide users with personal IBAN accounts and debit cards. With this offering Mintos will become much more like a bank. How cool would it be to get 10% interest on your current account!
In February, 2020, Mintos tweeted about Mintos IBAN and Mintos debit card:
IBAN and debit cards are in our works. To be able to offer both, we first need to finalize the process of acquiring an e-money license, a project on which we are working with the regulator and which we believe will offer various new opportunities for our investors.
— Mintos (@Mintos) February 4, 2020
The financial industry is evolving at an excellent pace. Think about this:
- Ten years ago, there was nothing like Bitcoin. Today, the cryptocurrencies industry is worth more than $300 billion.
- Ten years ago, the peer-to-peer lending industry was at its infancy. Today, millions of people are active in the industry as investors or borrowers. One of the fastest growing company in the p2p lending industry is Mintos Marketplace
- You should know, however, peer-to-peer lending comes with risks. These are peer-to-peer risks that you need to know before investing.
You can invest in the following investment platforms as an alternative to Mintos:
Is Mintos Safe?
Mintos is a safe and secure investment platform. You can secure your Mintos account using fingerprints or Face ID. Mintos account is also protected using two-factor authentication to enhance security. Besides, Mintos offers protection of up to €20,000 under the compensation scheme to protect investors’ money.
Mintos has a 56% “Excellent” rating on Trustpilot with many investors applauding the platform for its transparency and good user experience. However, a few investors complained of delays that are caused by technical issues.
Advantages of Investing in Mintos
You can enjoy the following benefits by investing in Mintos:
- High returns. You can earn high returns of between 10% and 12% annually by investing in Mintos.
- Largest European p2p platform. Mintos is the leading p2p lending platform with the largest investment amount and a large number of investors.
- Secondary market. If you want to exit the platform, you can sell your investment portfolio in the secondary market at a 0.85% fee.
- Auto invest feature. You can earn a passive income by leaving your investment in autopilot mode. The auto-invest feature will select on your behalf loans to invest in.
Cons of Investing in Mintos
- Mintos buyback guarantee is not 100% secure. Mintos is not able to enforce the buyback guarantee and many lenders are not able to pay interest for delayed loans.
Suspended lenders. There are many lenders that have been suspended on the platform.
Summary of Mintos Review
Mintos marketplace AS is one of the leading peer-to-peer lending platforms for consumer and business loans. You can invest as low as 10 EUR and earn an average annual interest rate of 11.1%. Mintos has investment features like an auto-invest strategy, buyback guarantee, and a secondary market. You can download their app and start tracking your portfolio. However, their buyback guarantee does not offer 100% protection.