Have you heard of Salt and 0x?
Both of these new companies are venturing into the shark infested waters of the crypto ocean but will they survive and what makes them special?
Let's first look at Salt:
There is a ton of hype behind Salt and rightly so it is bringing something special to the blockchain.
What is Salt? - Salt is Blockchain Backed Loans
Let's look at a couple of scenarios that traders and borrowers face with finance:
1. Something that can be very frustrating as a trader is the fact you see daily opportunities but you can't capitalize because of lack of capital. Imagine if you had that 1 Bitcoin to invest in that ICO and now that investment is worth 10x what you would have paid for it, yeah huge potential loss right. I don't know about you but this happens to me daily.
2. One of the biggest problems in trying to get money for anything essential in life is your credit score. I am not from America but I live here now and I can tell you that if you don't have a good credit score then you basically fucked with trying to get anything.
What about if you have an emergency and need some fast cash?. Yeah, it maybe possible to get some fast money from a loan shark but shit you will be paying so much in interest you won't see that loan paid back until your on your death bed.
Anything can happen in life when cash is needed fast to put out the fire. I can tell you that I have been in this position many times and if only I had been able to get quick money things may have turned out differently. Not that I regret anything lol that's just life.
What if you live in a foreign country and one of your family members becomes very ill and you need to get back to your home country fast?. There are literally hundreds of reasons you could need money fast.
So why would Salt be any different than any other loaning platform?
When you secure a loan with Salt you do so using your cryptocurrency assets as collateral. This means not only are you keeping your assets intact but you can also avoid high capital gain tax by not liquidating one large sum from your assets.
There is no credit check because the loan is solely based on your assets collateral.
Low-interest fees and you can reduce the fees more by using Salt tokens.
You can at any time use your collateral to pay out the loan.
I can tell you right now that if I can leave my current long term investment assets intact and get a low-interest loan to get some more buying power for trading, then I am 100% doing it. If you have confidence in your trading ability then this is a win win in my eyes.
Whats really cool is if your assets increase in value then this also reflects in reducing your loan in real time. Obviously, this can work in the other direction as well, but hey I believe the value of assets will increase dramatically in time so I see this as another huge plus for the Salt system.
I can see Salt as the leader in this field for a few reasons. One they have already opened this market as the first. Second, they are backed by some very reputable people and companies ie: ShapEshift/Exodus/KeepKey/Jaxx and many more. They have a very strong team in all aspects of what is needed to bring Salt to the masses and fast.
I was lucky enough to get in the last presale for 1.50 per token but missed out on the original 2 prior presales. However, there is still more to come and it all happens on Tuesday 7 am PST.
The presale on Tuesday has the following left:
2.0 million SALT @ $3
1.5 million SALT @ $5
1.0 million SALT @ $7.50
I will be participating and hopefully get some more Salt @$3 before it runs out the door.
You still have time to register which you can do so here
Take a look at there Abstract it is awesome
Salt Telegram
Video 1
Video 2
Video 3 This guy cracks me up!!
Lets take a peek at 0x
So what is 0x? 0x is Decentralized Exchange with Zero Protocol & more
0x has already had seed capital allocated before the Token sale so they are already ahead of the game. They have been backed by the likes of Blockchain Capital and Polychain Capital as well as Fintech Blockchain group.
If we fast forward 2 years in the future I can bet my bottom dollar that Decentralized exchanges will be the go to for everyone when it comes to trading and exchanging any crypto assets we hold. One of the most important reasons is "Security"..when we use a Centralized exchange we run the risk of losing our wealth because of hackers we also are subject to government regulations.
With 0x you will be able to exchange "Peer to Peer" ERC20 Tokens on the Ethereum network. You will also be able to use DAPPS to connect and use the core functionality. DAPPS can create their own liquidity pools and charge transaction fees is so desired. Trades are executed with smart contracts thus security is fulfilled.
This is huge and will knock out many fees and have a much better security protocol in place.
If we look at who is already using the 0X protocol ie: Augur/Melonport/Aragon/Maker and district0x. 0x has an outstanding team that is already in production. It is clear to see that this project is here to stay and in my eyes, this will be a solid investment, but don't invest unless you have done your own research first.
0x Website
Whitepaper
Video 1
Video 2
Video 3
https://countingdownto.com/countdown/zrx-ico-countdown-clock
If you want to join the slack you will need to contact Alex Xu : q.alex.xu@gmail.com
Both these opportunities are open on Tuesday morning PST
Salt is at 700am
0x is at 800am
BTW I am not being paid or even asked to do this, I just think these are wicked projects that deserve attention :)
