When you look around the world of crypto, you see a lot of utility tokens promising to replace traditional finance. One token that has caught my attention recently, is SALT.
The SALT lending platform is designed to be a haven for lenders and investors to meet in a safe environment.
In the past, if crypto hodlers needed to receive fiat for their assets, they would have to sell them and create a taxable event. With the SALT platform, you can stake your coins as collateral and receive a loan in the fiat currency of your choice.
Currently, the coins available to stake are Bitcoin and Ethereum with plans to add more - I spoke with a SALT representative today, and they are in talks with the Litecoin team.
Your Past Does Not Matter - Your Blockchain Assets Do
One of the advantages of SALT lending is that credit scores do not apply - your digital assets are your credit score.
This could be a game changer for folks that are recovering from poor decisions in their past. Banks and lending agencies are wisely hesitant to share their funds with people who have a checkered history.
Also, it may be some time before traditional financial institutions see blockchain assets as sufficient and capable collateral for receiving a loan. As long as you prove you have the coins with the SALT platform, you may receive a loan.
Buying Opportunity
At the moment, you have a guaranteed chance to triple your funds by purchasing SALT tokens.
On the open market, SALT coins are selling for $8 USD, and they are worth $27.50 on the SALT lending platform. You will need those SALT tokens to pay off the loan you receive through the platform.
Yes, you can ask for a loan for $5000, purchase about 1/3 third that amount of SALT, and pay off the $5,000 loan in full.
If you are looking to find some SALT tokens, you may find them trading on the following major exchanges: Binance, Bittrex, and Huobi.