This post is also available in: Deutsch (German)
A lot of things happened during the last week, I would like to give you an overview.
Mintos waives secondary market fee
From November 1st on Mintos is no longer chargeing 1 percent comission on sales from vendors. All trading on the secondary market is free now. During the little more then 3 year long existence of Mintos the platform made about 60k through the secondary market. Why forgo this money? I guess this is a strategic move. Let me explain: The durations on the platform tend to get longer (paydays from 2 months to 3 years, car loans more then 5 years). I think they want to offer investors a early way out of the loans without costs (at least from their side). With this setup longer term loans get relatively more attractive. In my opinion investors should not care too much about the duration (at least for paydays and car loans), as these longer term loans won’t make it to maturity in a lot of cases. Buyback is activated earlier and further these loans come with installements which decreases the loan portfolio duration with every cent of capital which is paid back. But hey, I don’t care, less costs equals more yield for us.
For new investors Mintos offers a cashback scheme: Register through this site (switch to english in the right above corner) and you get 1% cashback on your average investment amount during the first 3 months (you get paid on day 30, 60 and 90). (To be transparent: I get the same payments, but it is absolutely free of charge for you).
Swaper ends the cash drag fulminantly
For some days now I barely see cash on my account, mostly it gets invested the same day, plus I see a lot of loans on the site from time to time. The reason is: Swaper (respectively its mother company Wandoo Finance) offers loans to Russians for some time now. These loans weren’t allowed to be added to the platform due to regulatory requirements in the first place. They were gathered and put together on the platform once Swaper got the permission to do so. This big volume in loans immideately absorbed all liquidity on the platform. Due to the Russian loans the loan supply increases every day, we will see how sustainable this is, but for now, it is really exciting.
There is a slight change to the VIP program. It used to be enough to fund your account with 5k to get 14 percent loans. Now 5k is still enough, but you need to have invested 5k on average for the last 3 months before you get admitted to the VIP. To register at Swaper, follow me.
Grupeer offers again 15 percent short-term buyback loans
For a short period no 15 percent Russian short-termers. Grupeer management first wanted to wait and see how high the on time payback rate is before they were going to increase the volume. My first loan redeemed last week and quickly after that a new loan was added to the marketplace. A lot more will follow in the coming weeks.Follow me to register with Grupeer (click on the right above corner).
Housers with 25 Euros cashback after the first investment
There are a lot of new projects at Housers. Therefor the marketplace needs more investors. To attract these, they offer a 25 Euro cashback after the first investment of 50 Euros. You get 25 Euros after your first investment, but you can’t withdraw this money until you have invested it in at least once project. When the project matures (or you sell on the secondary market) you will be eligible to withdraw that money. This means you have to invest at least 75 Euros. Register with this link and you’ll get 25 Euros after your first investment. Nice deal in my opinion.
Transferwise Borderless account offers personalised AUD accounts
This week transferwise announced that their borderless account now offers personalized accounts in Australian Dollars. I quickly tested that with some funds I have at Marketlend (Australian Marketplace) and received the funds the next day. I hope many more currencies will follow.