On the 5th of February 2018, I made my second deposit of €1.000,00 on Mintos. I would like to deposit more but with the capital controls currently imposed in my country, €1.000,00 is the highest amount you can transfer to an account out of the country. I used the funds to purchase Mogo and Lendo loans to take advantage of the cashback campaigns that we in effect for the period. I was a little concerned because I was not diversified at all but I figured that since this is the beginning I will have plenty of time to make up for it in the future. The total cash back rewards credited into my account was 32,00€. All the loans have rates over 12%.
For Mogo you will get a cashback of:
•1% for investing in Mogo loans with a maturity of 12 to 23 months
•2% for investing in Mogo loans with a maturity of 24 to 35 months
•3% for investing in Mogo loans with a maturity of 36 to 47 months
•4% for investing in Mogo loans with a maturity of 48 to 59 months
•5% for investing in Mogo loans with a maturity of 60 months or more
And for Lendo you will get cashback of:
•1.5% for all of its loans with a maturity of 9 months or more.
Mogo also extended its cashback campaign which is good news for investors but bad news for my diversification. I am just not strong enough to say no to a 5% quick return in favor of my diversification.
Also, Mintos exceeded €500 Million in investments in its platform which is cool since it’s growing rapidly.
By February I started to like investing through Mintos and was determined to continue doing so until I reach a specific number. I didn’t know what that number was but I will keep an eye on other platforms and will start investing in those once I reach about 5-10.000€
On the following screenshot of my monthly account statement, you will be able to see all the details.
So, for the month of February 2018, I deposited €1.000,00 and the total return for cashback, interest, late fees and secondary market transactions was €45,26.
This month I also opened an account with allmarketstrading.com to start trading some forex. I was never too hot on the idea but this platform recommends signals and I thought I should give them a try with a small amount.
I also started a local business. I will try to put in as much effort as possible to make it the best translation agency in Athens called it Translix so if you need any translations make sure to check us out.
Until Next Time,