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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Is Ethereum Still Searching For Its Bottom?
The crypto space has mostly been seeing drops in value during the last 30 days, and it was clear that the bear market of 2018 still has enough energy to cause further damage in this year as well. Most coins occasionally felt a slight growth, although it was not big enough to spark a real rally and shake off the bears.
When it comes to Ethereum, the coin has been dropping continuously since January 10th. ETH experienced high volatility ever since it broke down a $180 support on November 14th, 2018. A small rally starting on December 15th started taking ETH back up, although the highest it managed to reach since then was $159.58 on January 6th, 2019. Since then, the coin’s price entered another free fall, although it never dropped below $100 since then.
The coin seemingly found some stability in the final days of January, when it was trading at around $119, although another drop followed in the first days of February, and Ethereum nearly dropped to $100 on February 6th.
However, February 8th brought a new surge which affected the entire crypto market, bringing the coin’s price back to $144.15, which is its price according to TradingView at the time of writing. The new surge exceeded 11% in the…
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The crypto space never sleeps, and there is always something going on. Every day, there is some interesting event worth mentioning, some of which may even have significant consequences on the entire crypto space. With that in mind, here are the top three crypto events related to the crypto space that occurred in the previous week, and which may have impacted the world of digital currencies in one way or another.
1) A crypto Whale moves a large portion of XRP
Many have probably already heard the term “Crypto Whale,” as it is quite common to find discussions mentioning them and their activities. The term is a name used for coin holders which tend to buy, sell, or move massive amounts of digital currencies. These are usually professional investors with large funding who can impact the crypto market in any way they please, and make the prices rise or fall depending on their calculated business decisions.
They are called Whales because of the large amounts they move, which usually have a pretty big impact on the market. And, since they are so influential, there are many in the crypto space that have made it their mission to follow the activities of known Whales, and base their business decisions regarding the Whales’ movement.
One example is the Twitter account known as Whale Alert, which has around 50,000 followers. This…
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— TRON Arcade (@TRONArcade) February 9, 2019
The announcement was published on February 8th, and it states that the CryptoDungeons TRON game is still in development. However, the team is preparing to announce a presale soon, meaning that the official launch is not far away.
CryptoDungeons was originally developed to be a part of Ethereum’s network. However, the team has decided to bring it to TRON instead. Soon enough, the fans of the game will be able to experience its story, universe, and characters on TRON blockchain.
The game is centered around Heroes who can be bought and used for exploring dungeons, crafting various items, gathering food, and alike. The game also offers five races for players to choose from — Humans, Elves Dwarves, Orcs, and Angels. Additionally, there will also be four classes, including Warriors, Mages, Rogues, and Priests. Each class will have its own unique abilities, with the Warrior class being presented as an example. The abilities that this class features include Strike, Heavy Strike, Shield Wall, Shield Slam,…
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