Bondora is not the right place to start with p2p

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My relationship with Bondora is rather ambivalent (I exited a while ago but reregistered now just out of fun). On one hand Bondora is one of the oldest platforms in Europe and offers a variety of statistical data, which nearly no other platform can provide. On the other hand Bondora is an uncomparable marketing machine and connotes to all interested (and non interested) people that high yields can easily be achieved without problems…. everything is just so easy. It is true that even Investors who start today can reach positiv yields, but in my opinion only experienced ones in the p2p sector. Further one would need to be able to work with statistical data and program an API. I guess this is to complex for an average investor and p2p newbie.

What upsets me with Bondora

Firstly, Bondora is a marketing monster, which includes their sales staff. I do not know any other platform which acts so obtrusive towards their investors. Even at registering you are prompted to make your deposit instantly. The next day you get some emails telling you that you did not already deposit. This will be repeated daily and after some days you get called.

Yield distribution acc. Bondora
and are asked if there are any questions. In my opinion this is just an opener by which they try to get your funds. Secondly, they suggest that everything is going really smoothly, just turn on the Portfolio Manager and everything is good. Oh, the PM is activated by default, so if you make your deposit, your funds will be allocated in no time. At least I would like to have the final say when I start and not get a suprise. Thirdly, they present themselves in a far to good manner, at least in my opinion. If you check out the image of the yield distribution it gets clear very quickly, that there are lots of investors with negative yields or very low positive yields.

After some months have passed you get confronted with defaults and late payers. Then you will check out the secondary market at the latest, which is when you realise it is not that easy… You get access to a lot of data and you can analyse them and use your results to improve your investment strategy. This requires a deep understanding of the data and you will need to invest a lot of time. If you are able to do that, then Bondora might be good for you, but for beginners at least it is not. Further you should have some codeing skills to create investments through API. If you still want to give Bondora a try, use this link and get EUR 5 free deposited on your account.

Ok, then which is the right platform to start investing in p2p?

There is not “the only” platform to start with p2p, but you have to start somewhere šŸ˜‰ I would recommend to start with Mintos to get a feeling for the p2p market. You can invest there with buyback (as Eurocent shows us this is not without risks) and implement some autoinvests. After some time you will see some delays, early paybacks and buybacks. Therefor in my opinion Mintos is one of the best platforms to begin with. Further new investors get (but only if you use this link to register) 1 percent cashback on your investments from the first 3 months. If you invest 1000 Euro, you get 10 Euro on top as a thank you. Mintos offers a variety of loans, from payday loans, car loans, real estate loans, invoice financeing, business loans and so on.

Possible in my opinion could be as well robocash and swaper for starters, but there you don’t have the variety of loan originators and loan types.

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