The whole point in blockchain technology and cryptocurrencies including Bitcoin (and of course the likes of Litecoin too), according to the man who invented both (the enigmatic Satoshi) is to do away with banks, fiat currencies, and the world’s financial system. This was, and remains an incredibly ambitious goal. But it’s happening. Slowly but surely, the signs are showing.
New blockchain projects are appearing all the time, offering the services that the traditional financial system has monopolized for decades, and, doing them better, more cheaply, more safely and more quickly.
SALT is a very good example. Founded in 2016, and gone live in 2017, this very young project offers membership-based borrowing for cryptocurrency holders.
In other words, if you need a loan and you want it in digital assets, SALT is the place to go. In this way, SALT is building a bridge between the cryptosphere and the traditional financial systems without the help of actual banks (like Ripple or Stellar Lumens).
And this is good for everybody because these loans create demand and trade volume for several cryptocurrencies, and they make digital tokens useful resources in the real world.
SALT’s loans are very competitive and interesting. The interest rate can be as low as 5.99% if you get $75,000 or less. But you can get up to $25 million, in which case the interest rate would be around 11.99%.
You can even get higher loans and have the interest rate tailored to your needs and SALT’s. This can change with jurisdiction but, as it happens with most digital technology, it’s available for a lot of people who can create an account on the platform.
Check out this map of lendable areas. pic.twitter.com/mEmCKpjJMv
— SALT (@SaltLending) October 6, 2018
The latest news from SALT came out last Thursday as they announced that their platform would adopt Litecoin to provide loans and services. This is quite relevant because Litecoin is one of the most reliable, and important cryptocurrencies in the world.
It enjoys a very competent leadership, and they already bought a German bank aiming to turn their coin into a real currency that you can actually use on the streets, with a debit card, instead of being limited to internet or mobile phone transactions only.
Litecoin was created by Charlie Lee, a former Google engineer who remains the project’s leader. It started as something of a Bitcoin fork that aimed to retain Bitcoin’s solidity and reliability.
At the same time, the idea was to make the mining process lighter (hence, the name) so that transactions could be settled in a much quicker, cheaper way.
While Bitcoin still dominates the cryptosphere (and it’s a doubtful proposition than any other token will ever challenge its position as the premier asset, let alone Litecoin), LTC has found a lot of success by bringing together the best of all worlds and, now, it’s even joined the traditional financial system.
SALT is an innovative platform that provides useful services for cryptocurrency holders and including Litecoin in their platform will only make everything more comfortable for both the company and new prospective users. Because it increases both trade volume and token demand, it’s good news for everybody who owns a digital asset, whether if it’s included in SALT or not.
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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 and read our full disclaimer.
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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Can Libra help the crypto industry to reach new heights?
The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.
From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.
What is Libra?
Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.
Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.
The development of…