Reinvest24 – Secondary market incoming

Hi everyone! Today there is a short blog post. The reason is the secondary market at Reinvest24. Yeah it's incoming!

At the beginning of August I was able to do an interview with Viktorija Bondarjonoka from Reinvest24. Of course, I took the opportunity to ask again how the development of the secondary market is going. Mentioning it is now somehow a running gag. They promised I can test the secondary market as soon as it ‘s ready. And now it's the day!

Secondary market – key facts

Here is a rough summary of what you can expect in terms of conditions on the secondary market.

• • Discount / Premium is possible and is always calculated per share
    • In the demo environment 5% were possible in both directions
      UPDATE: There will be no limits 🙂
  • The buyer has to pay a 1% fee
  • Once sold, the projects are permanently for sale. So you have to canel it actively.
  • The shares with the highest discount are sold first
  • The status of a project is irrelevant

Example: There are 1000 shares of project A on the secondary market, which were put on sale by three sellers. Seller A wants to sell 100 shares with 10% discount, seller B 800 shares at par and seller C 100 shares with 10% premium.

Now I want to buy 150 shares of the project. So I get 100 shares at 0,90 € per share and 50 shares at 1 €.

Sell shares

If I want to sell a project now, it's actually very simple. In the My Investments area you will find buttons to Buy and Sell project.s

Now I can set the price per share for which I want to sell my shares or even a part of them. In the screenshot I want to put 100 shares of my 202 shares with a premium of 5% on the secondary market. Here you can also see the only small bug I found, namely that the field is too long. So just a styling issue.

Now the view changes and it is clearly displayed which shares I own and which are for sale. With the red X marked in the screenshot, the sale can be cancelled.

Buy shares

Under Properties there is a new area Secondary Market, where all available secondary market projects can be viewed. If you click on a project and there are no shares available on the secondary market, it looks like this.

If there are shares, the whole thing looks the same as with previous project purchases.

As mentioned, the cheapest shares are taken first. The price per share then shows quite clearly how high the discount or premium is.

My summary

Finally! The secondary market is the missing piece of the puzzle. Unfortunately Reinvest24 made it very difficult to publish it in time. A functioning and liquid secondary market exists on other platforms, where you can invest in Reinvest24 projects, for quite some time.

There are of course two approaches. Either you publish a ‘secondary market' as soon as possible, like Crowdestor did. The result is then a huge pile of buggy crap and in the end a cheek! But you also quickly started with the bug fixes and now you have a ‘good' result. Alternatively you can do it the German way like Reinvest24 and work on the feature until it is ‘perfect'. But you missed the best timing to release the feature. I would always prefer the Crowdestor way, even if I'm very annoyed about it.

To the secondary market itself. Interesting concept that seemed a bit complicated at the beginning. But after just a few minutes, the whole thing is quite intuitive. Because the cheapest shares are bought first, the secondary market is also very fair. All in all I am satisfied and I'm looking forward to the release. Maybe already today ;).

Bonus

If you want to invest on ReInvest24* there is a 10€ bonus. I receive 1%.

Revolut – My account for p2p and crowdlending

Since I don't want to transfer everything from my regular bank account to the platforms, I was looking for a simpler solution. A few months ago I stumbled upon Revolut*. Since then, I use the app for all financial transactions in the area of p2p/crowdlending and also in business context as freelancer with Revolut for Business*.

After being skeptical at first I'm now a big fan of the app. The execution of transactions to the different platforms and also withdrawals is very fast. In addition  you can with the free Revolut VISA card with max. 200€ cash limit per month at an ATM. And that without additional costs!

In addition, Revolut is my faithful travel companion. Since I also work abroad from time to time  I also looked for a way to simply exchange currencies. This is easily possible with the Revolut app. Also, without fees (up to 6.000€ per month)!

Using my links for Revolut I get nothing at the moment. Previously I got reward of £2.00-3.00 for a standard card order. For Revolut for Business I'd get up to 66,35€. Reason is that Revolut pausing their affiliate programs.

About new projects on Twitter, Instagram and Facebook

On my own behalf, I would like to mention that I also present new projects on Twitter (kaph1016) and Instagram (investdiversified) in which I invest myself. Also on Facebook I have a page. There are also a few insights into how I invest in other areas. So just follow me :).

*Some links in my posts are affiliate or referral links. That means I get a little bonus. For each of those who use these links, however, there are no costs or other disadvantages. On the contrary, there is usually a start bonus or cashback. So if you use these links, you support my blog and for that I say thank you in advance!