Salt is the token of the SALT lending platform that allows its users to collateralize their blockchain asset to get loaned cash. SALT which simply mean secured automated lending platform, allows users to put their crypto as a collateral in exchange for a cash loan. This method is very good if you have an intention to pay off an unexpected expense or intends to make a huge purchase without needing to off load your block chain assets.
SALT revolves around its blockchain backed loans. For those who don’t know what this means, it simply mean that blockchain backed loans are loans which users can hand over their blockchain assets like Litecoin, bitcoin, etc. as collateral in exchange for normal paper currencies. But unlike the normal house loans, car loans or educational loans, you can actually use this loans for any purpose of your choice such as business purpose or personal purposes.
To use the SALT lending platform, you will be required to pay and become a member, and there are three membership categories:
Base: Which Cost 1 SALT Per Year
Premier: Which Cost 10 SALT Per Year
Enterprise: Which Cost 100 SALT Per Year
The higher your membership category, the more you will be able to borrow more money across different currencies and have favourable loan terms. Higher membership also gives you the opportunity to have early access to portfolio management, credit/debit cards and new products.
How To Buy SALT Coin
To buy SALT coin, you can buy it from someone you already know who has SALT coin to sell or you buy from an online SALT coin exchanger. There are three world class online exchangers we would recommend for you for a safer transaction, which are:
Coinbase is a global digital currency asset and exchange company that provides a platform to buy and sell any type of digital currencies globally. Coinbase also sends all information about your transactions to block chain network so it can be verified by them.
Coinbase also serves as a wallet where all your digital currencies can be stored safely. In their platform, they exchange varieties of cryptocurrencies such as Ethereum, Litecoin, Bitcoin, SALT coin and also other fiat currencies in over 70 countries.
Coinbase has over 30 million customer base and has supervised exchange of digital currencies which is worth more than $50 billion since it was established in 2012. So if you are interested in buying SALT coin or trading in digital currencies in today’s digital world, then we recommend you sign up with Coinbase.
When buying and selling cryptocurrencies, Coinbase expects you to link your bank account or debit or credit card (whichever you prefer) to your account with Coinbase to be able to buy cryptocurrencies. To use a bank account in Coinbase enables you to have higher limit which is $100 per transaction and $2, 500 per week, but the disadvantage is that it takes long to verify such transactions, so you will definitely see your money between two to four days in your Coinbase wallet depending on your bank. But for those who want to sell digital currencies, once you have confirmed the sales, it will also take between two to four days for your proceeds to reflect in your bank.
For those with debit or credit cards on their Coinbase wallet, a lower limit of $200 per week is given, though you can still buy cryptocurrencies by transferring money from your bank to the Coinbase web portal and your bitcoin will show up in your Coinbase wallet instantly.
Kucoin is known as one of the best and tastiest growing crypto exchange in the world. Also known as the people’s exchange, it is very simple and easy to use for first time investors, and for advanced users who love cryptocurrencies. They have whole lot of altcoin on their platform and are also adding more on a regular bases. Kucoin’s objective is to offer low fee for both withdrawing and trading. Zero deposit fee and their trading fees are only 0.1 percent on whatever you purchase making it very affordable to use their platform.
Binance is a cryptocurrency trading platform which offers the most competitive crypto rate in the world. Binance accepts users all over the world and they have received lots of positive reviews from cryptocurrency traders. Recently, they have partnered with top Israel based Payment Company called Simplex to enable credit card buying of cryptocurrencies at a premium.
Binance was founded by Changpeng Zhao and launched on July 2017. Their operation consist of crypto to crypto exchange which means that they don’t facilitate fiat currencies. Their partnership with Simplex will allow them to run brokerage services that will enables you to buy up to 6 different cryptos with your credit card and a service fee of 3.5% will be charged by them.
Binance only accepts crypto deposit in their platform, meaning that you can transfer your SALT coin from Coinbase to Binance. Note that all the coins that are supported by Binance can be deposited and withdrawn at any time. The platform enables you to buy the below cryptos with your credit card:
- Ripple (XRP)
- Ethereum (ETH)
- bitcoin (BTC)
- Binance coin (BNB)
- Bitcoin cash (BCH)
- Litecoin (LTC)
To ensure you get good trading experience, whether you are buying or selling SALT coin, we recommend you register with the above mentioned exchange (Coinbase, Binance and Kucoin) for safer transactions.
Why You Should Buy SALT Coin Now
SALT happens to be the recent leader in the blockchain based loans, but however, we have some other competitors coming to the market like ETHLend and Elix. These two new comers are the competitors who also provides a decentralized lending on the Ethereum blockchain.
However, the difference between them is that while SALT focuses on the international cash loans which must be backed by cryptocurrencies and the other two competitors took the peer to peer methods. SALT is really competing seriously with more normal platforms that provides a crypto backed loans but are not making use of a particular token.
In the third quarter of 2017, SALT held their ICO which users bought a membership token for $3. There are 120million SALT tokens and over 80million are in the market currently. SALT increased after its ICO to as much as $8 precisely in October 2017 and later dropped to about $0.50, which simply mean that if you buy now and hold for a little time, price might increase back to over $6. So buy now and profit later.