Wow, the first month of 2020 is already over. I can’t believe how fast time flies by at the moment.
And let us be honest, this month has been tough for the crowdlending sector.
I expect my money to be gone in Kuetzal and Envestio, so I’ve counted it as a loss this month. Today I’ll will submitting a police report to the Estonia police – more on that later.
Looking at my total earning, I have been hit quite a bit by the loss from Envestio and Kuetzal.
My monthly income was at about 63 euros this month before counting the loss. I’m really happy with that looking forward to making that number grow.
PeerBerry and Swaper
I am beginning to like PeerBerry and Swaper quite a bit. Both platforms are easy to use and a great alternative to Grupeer and Mintos. In the last few months I’ve not had issues with cash drag, however, this month there has been more cash drag, than what I would’ve liked.
Monethera and Wisefund
Monethera and Wisefund… I’m not sure what to think about these platforms. Both disabled their early exit function. It is because they are paying out of their own pocket for this, but then why have the feature in the first place, if they can just deactivate it? I don’t like this.
Also, there have been found connections between the CEO of Monethera and Envestio. I’m not a fan of this, but at the moment we can’t do much about it. Our funds are stuck. Monethera have shut down for deposits for now and I don’t buy their explanation. They say it is because of many deposits coming from TransferWise, whereby they can’t verify the owner of the funds.
Kuetzal and Envestio
I’m generally surprised about the collapse of Kuetzal and Envestio. I didn’t think that it was a scam. Even though you could find some evidence of possible scams, the research I and others did, didn’t show any signs of a scam.
Nevertheless, it happened and our money is probably lost. There is something you can do and that is submitting a report to the Estonia police. I’ve just done that and so should you – if you have lost money through the platforms. You can read more about this here.
I’ve also joined a campaign with many other investors where there is going to be a lawsuit against Envestio. If you read my blog post about the Envestio collapse, you’ve probably joined as well.
Crowdestor seems to be the only legit or at least transparent high-risk platform left. Due to many investors wanting to get out for their loans, they are even working on a system, where other investors can buy the loans. It is cool what Crowdestor is doing!
I’ve chosen to stop investing with Reinvest24. I do like the platform and the concept. However, with the whole scam situations lately, I would like to have my funds in a more developed platform. Whenever the current projects are paid back in full I will withdraw my funds.
In the last few months, I’ve considered selling my properties and use the funds somewhere else. I’m still on the verge of this. For now, I will just let them be, but I do plan to sell and put my funds in stocks.
Mintos is working fine for me. Loans with higher interest rates are back, so it is probably time to start optimizing my auto-invest settings again.
My stocks are working as they should. Do you have any ideas on how I can go more in-depth with my stocks? I’m not quite sure, what will be the best. What would you like to know?
My eToro copytrading is doing great. I’m currently up 10%. I would like to start investing in more copytraders.
I’ve not been writing much for this website. It has been a busy month having to deal with Kuetzal and Envestio. Other than that I have a website in danish, it has grown a lot this month and therefore much time has been dedicated to that.
This is what I’ve published this month:
As you might now, I write on Medium, but this month only happened to be one story. It was packed with value, you can read it here.
Do you want to start a WordPress website? You can read my guide here!
Here is an overview of how other bloggers are doing: