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A very tense P2P atmosphere

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The current P2P space is facing quiet the turbulence and this is very normal within money investment streams. It actually reminds me of the crypto space when Bitcoin lost 80% of its value. With the latest Kuetzal news came lots of panic selling on every platform and rightly so, nobody likes losing money. I was one of the affected investors who lost my capital, and although it’s not much this will serve me (and us) a good lesson for the future.

Don’t Panic! Don’t give up on P2P lending

All this pressure has forced all other platforms to become more transparent. They are now feeling the high selling pressure from investors and are coming out with better communication. Envestio and Wisefund have published their press releases and Envestio reacted by returning its former COO Evgeniy Kukin back on his position. While Wisefund published their due diligence process for every project. I think this is a good first step and it’s up to us to ask more questions and ask for better transparency.

Many people did not like the way Envestio communicated. I have realized a huge amount of projects were pre-maturely sold which brings great concern. All the big bloggers who have made money from referrals and been endlessly promoting these platforms are now the first to jump ship.

I always praised Envestio as a platform as it always paid on time and being on the platform for over 14months, I have built trust in the platform and I don’t see why we should panic sell our way out. Of course, we have to add pressure on the platform to provide more details when publishing a project and about their buyback fund. More panic selling will bring the platform down and unless the water calms down quick I don’t see much of a future for most of these platforms.

I would love for platforms to stop offering signup referral bonuses that way the P2P market grows organically and should give out bonuses based on the investment amounts ~ something Peerberry does very well.

What now?

I have not early sold any of my investments and do not intend to do so however, I have a significant amount of projects that are completed during January and February 2020. I do plan to withdraw it once it’s in my account, firstly I do need the cash for finishing up a rental property I invested in and I also want this turbulent period to settle.

For those beginning in P2P, I would advise investing in the more conservative space for the time being; Mintos, Grupeer and Bondora. Always remember to diversify and to not put all your savings into one platform or in just P2P. I still hold a significant amount of money in the bank and although the lost capital on Kuetzal hurts it won’t affect me in any way. If the whole P2P space had to collapse by tomorrow it will bite hard, however, I won’t end up homeless or not paying my bills next month. So keep that in mind when investing your money!

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