Connect with us

Blogs

SALT Bringing Loans to the Crypto Universe

Published

on

crypto
READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrencies and blockchain related projects have been coming up with a purpose to fill the void left in many industries worldwide. We have seen the introduction of various different crypto-related projects in varied industries such as security, automobiles, financial services, hospitality, creative services and supply chain management. With the introduction of SALT, however, the Cryptocurrency world is ready to step foot into the loaning market.  Launched in 2017, the SALT lending platform completed its discounted membership way back in August and has seen a large degree of success since its launch.

SALT derived as is an acronym for Secured Automated Lending Technology. Salt Lending describes itself as “a next-generation lending platform for blockchain backed loans.” Essentially, Salt Lending provides a lending platform where members of the platform can put up their blockchain assets as collateral.

At the time of writing (13/03/2018) SALT has a market cap of $173,635,995 USD with a present circulating supply of 55,745,114 SALT. The total supply of tokens in the network is kept fixed at 120,000,000 SALT.

About SALT

Currently, the SALT Lending platform is a membership-based lending and borrowing network, allowing users to leverage their blockchain assets for securing cash loans. The driving force behind the company’s technology is a protocol and asset agnostic architecture designed with a high degree of adaptability.

The team behind SALT has been growing since their launch, currently employing more than 60 professionals. It has been since touted to be the main driving force behind the emerging sector of Fintech or Financial Technology based crypto projects. The project aims to provide the best way to pay for emergencies or when somebody wants to make a big purchase without disposing of their owned blockchain assets. Since there aren’t many merchants that accept cryptocurrencies as a form of payment, SALT aims to bridge the gap.

Jennifer Nealson, the recently appointed Chief Marketing Officer at SALT is optimistic about the future. “The potential impact of SALT Lending’s success on Colorado’s economy cannot be overstated,” says Jennifer Nealson.  “Blockchain is poised to be the most disruptive technology in recent history. SALT Lending is taking the lead in creating lending systems, marketplaces, and services that will benefit financial institutions, consumers and underserved communities globally.”

Where to Buy SALT from?

At the moment, the most popular exchanges to purchase SALT are Binance, Bittrex, and Huobi. To trade for SALT on one of these exchanges, a trader needs either Bitcoin or Ethereum. In cases where a user does not have a prior deposit of cryptocurrencies, they can purchase SALT with traditional currency on an exchange like Gemini and then transfer them over. Because SALT is an ERC20 token, users have a few different options like MyEtherWallet.

The Working Force Behind SALT

SALT tokens, like other Cryptocurrency tokens, are backed by the Blockchain technology, which allows users to use Bitcoin, Ethereum or Ripple tokens as security. SALT is decentralized, meaning there is no central bureau to scan users for credit eligibility, making loans more accessible.  The tokens are ERC20 based, built on the Ethereum ecosystem.

Future Prospects

The fact that there will always be a demand for loans from the general populous makes the future prospects bright for SALT. Given the state of the current currency lending sector, SALT definitely provides something new to the table.

The amount one sets aside as collateral gets locked up and not released till the loan has been fully repaid.  Since banks worldwide are overcharging their clients through their loaning system, SALT is a viable option. Moreover, the general shift of the world economy is towards digitization of real-estate as well as other sectors.  In such cases, SALT can emerge as a secured loan service in the Cryptocurrency world.

We will be updating our subscribers as soon as we know more. For the latest on SALT, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of gotcredit.com

Blogs

Reasons Why You Are Much Safer When Crypto Trading on Dexes

Published

on

DEXes
READ LATER - DOWNLOAD THIS POST AS PDF

While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

Continue Reading

Blogs

Crypto Billionaire Predicts Massive Price Growth by 2021

Published

on

crypto billionaire
READ LATER - DOWNLOAD THIS POST AS PDF

Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

Continue Reading

Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

Published

on

TokenRoll
READ LATER - DOWNLOAD THIS POST AS PDF

Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

Continue Reading

Elite