SALT coin and Saltlending.com
At some point in October (2017) I learned of SALT after watching, for the very first time, Bix Weir's RoadtoRoota youtube channel.
Apparently at some point in 2018 members at Saltlending.com will be able to secure cash loans (i.e., USD, GBP, YEN, CHF and RMB) by putting up any of the following coins as collateral:
(1) Bitcoin
(2) Ethereum
(3) Litecoin
(4) Dash
(5) NEM
It appears that loans are based strictly on collateral. There are no credit checks and employment is not a requirement.
Sometimes many of us regular people (even a Nandi Bear) may need a bit of cash. Cashing out (i.e., selling) Bitcoin doesn't always feel so great when the price of Bitcoin goes up by a few thousand dollars in the days following the sale!
A cash loan at SALT seems like a spectacular and thought-provoking idea. Some reasons in support of that position are, though not limited to, the following:
(a.) We don't need to sell our Bitcoin!
(b.) There's a chance that by the time a loan is paid back that the price of Bitcoin will have risen by a dollar amount equal to, or even well beyond, the dollar amount of the loan!
The SALT platform, wallets and where to buy SALT
Here's a quick look inside the SALT platform. They offer three (3) different memberships. Membership fee is paid annually.
Base = 1 SALT (may borrow up to $10,000.)
Premier = 10 SALT (may borrow up to $100,000.)
Enterprise = 100 SALT (may borrow over $1,000,000.)
You may have noticed that within their platform they value each SALT coin at $25.00 USD (UPDATE: now at $27.50). However, you may buy SALT on an exchange at a much better price.
You might also consider holding your SALT coins in a desktop software wallet (rather than within your SALT account) such as Exodus.io.
Later on you may, if you wish, send any amount of SALT from your Exodus wallet to your web wallet within your SALT account.
The Nandi Bear bought SALT coins through the ShapeShift.io exchange. At the time the price of SALT was at around $4.50 - $5.50.
Today the SALT price listed at Coinmarketcap.com is just a little above $8.00 (UPDATE: now at $10.81).
Thanks for stopping by and reading!
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