SALT (SALT)

Back in the day when humanity was still in its cradle, the simplest of goods were used for trade. The joys of mankind were limited. Everything capable of adding a little bit of flavor into everyone’s life was worth much more the useless at the time gold or silver. Yes, common table salt was one of the first reliable assets known to man.

This tale of relevance, value, and the concepts of contents over cover has served as an inspiration to the founded in 2016 SALT.

SALT provides crypto investors with asset-backed loans. It helps those of us who are currently lacking an edge so desperately needed for that one very special deal. In simpler words, SALT is the alternative to selling assets for a quick monetary gain.

Because why sell when you can get a loan?

• The SALT membership platform
• Loans
• SALT wallet

In simple words, the SALT membership platform is a shared pool of assets from which the members can loan cryptocurrencies without worrying too much about commission fees.

One needs the SALT Membership Units currency to enter the club. This is a great means of ensuring that the coins are in demand, ergo their price will only grow over time. To put things into perspective, the first 2 millions of SALT were sold for $3 each. The price then grew to $5 per SALT during the second sale, $7.5 during the third sale and to $10 during the last sale.

SALT is currently not available for sale and can only be found on exchanges. The market cap is 210 million.

How do the loans work in the system?

• A borrower is to send collateral to the SALT wallet. The funds are then released to the borrower’s bank account. One important benefit worth noticing is that the funds in the wallet belong to the borrower, ergo any price fluctuations, whether positive or not, do not matter. For example, if you were to deposit BTC 100 to the wallet, you would receive BTC 100 back once the loan is paid regardless of the current price of Bitcoin.
• The loan repayment process is simple enough, the borrower is to make timely payments to the lender.
• After the entirety of the loan is paid, the borrower’s collateral is released and available for withdrawal.
• This is a simple, straightforward financial system that simply can’t not work in the trustless environment of smart contact-based deals.
• Or as Blake Cohen, the founder of SALT puts it, “Cryptocurrencies and blockchain assets make the ideal collateral.”

Jaxx serves as the wallet for SALT. Simply create a new wallet in it and select the SALT-SALT lending option. Then choose the pair you wish to display and you are all set up.
If you were wondering about asset storage then you mustn’t worry. All of the collateral keys are stored offline after being generated. All of your data is AES 256 encrypted and after that, it is independently stored on FIPS 140-2 Level 3 validated hardware.

We are on the doorstep of yet another revolution in the banking sector. Yes, SALT is not for everybody nowadays and it doesn’t operate globally, but projects like this are a clear indication that there is a massive audience that strives for simplified, online-based loaning.

Don’t take just our word for it. SALT has generated a considerably loud media buzz and boasts a lot of great press on

Coindesk (https://www.coindesk.com/crypto-backed-loan-provider-salt-expands-to-35-us-states)

Bloomberg (https://www.bloomberg.com/news/articles/2017-12-14/bitcoin-s-new-barons-no-longer-have-to-sell-to-live-in-luxury)

Inc. (https://www.inc.com/will-yakowicz/loan-startups-accept-cryptocurrency-collateral.html)

The Wall Street Journal (https://www.wsj.com/articles/this-company-helps-bitcoin-millionaires-unleash-their-fortunes-1530187201)

Entrepreneur (https://www.entrepreneur.com/article/318570)

TechCrunch (https://techcrunch.com/2018/05/02/salt-lending-offers-liquidity-for-cryptocurrency-holders/)