It is human to temporarily run out of cash when you least expect it or during economic hardships. This should not stress you anymore; you can now use your blockchain assets and get secure cash loans in minutes. With Secure Automated Lending technology (SALT), you have money in your bank account. Days are gone where you trade your valuable investment with hard cash.
With SALT (SALT), you have an easy application process that does not require a bank statement or credit checks. You only need to put, through your applications and the moment it is approved, the amount agreed is deposited into your bank account.
What is SALT (SALT) Token?
SALT is a blockchain based digital currency that allows you access a loan using your online digital assets. The system allows you to use other currencies to get a loan. Once approved, the amount is deposited directly to your traditional bank account.
This is the best way to pay for emergencies or when making big purchases without disposing off your blockchain assets. There are many merchants today who do not accept cryptocurrency as a form of payment and using SALT, you can make purchases in fiat deposited in your account courtesy of SALT and you pay back the loan later.
How does SALT (SALT) Loan Arrangement Work?
Since SALT loans are backed by the blockchain, there is need to use another asset that is blockchain technology backed to secure your loan. You can choose to use BTC, ETH or XRP tokens as security and get your fiat currency.
You can make use of SALT loans for all your business or personal expenses. Since salt is decentralized, there is not central credit bureau to vet your credit worth. There is no vetting and the time taken from application to getting the cash credited into your bank is less compared to traditional loans.
To access the loan facility from SALT, you need to be a member of the platform. There are three tiers on the platform and the higher your tier, the more you borrow. Just like the banks, the more you are worth, the more perks and better loan terms you access.
The SALT (SALT) Tokens
SALT (SALT) tokens are also referred to as membership tokens; these are ERC20. Since SALT is built on the Ethereum ecosystem, you need to own these tokens to access the loan facilities. You can anly use SALT tokens as a way of repaying tour loan.
SALT tokens are unique in design and have varied values. When you look at the lending platform, their value is different from what is on the trading platform. The coin might be trading at $46.21 but the lending value is $24.07 since these are two different functions of the same coin.
Does SALT (SALT) have a Future in the Lending Industry?
People will always borrow to make their lives better. SALT has a bright future in the currency lending sector. The beauty of the platform is that you need to have some security inform of a digital asset in order to get a loan. The amount you set aside as collateral cannot be spent until your loan is fully paid for.
When you look at the SALT (SALT) charts, the coin performance in December to early-January was good hitting a high of $16.72. However, the price has dropped to a low of $4.58 at the time of writing but has gained 16.15% in the last 24 hours. Experts predict the performance will remain positive to attain a resistance of $15 by end of March.
By and large, SALT (SALT) has come at the right time when banks are overcharging their clients through loans. With the shift towards digitization of real estate, land, homes and autos, Salt will become a force to reckon with. Everyone is looking for affordable loan facilities. With SALT, you are assured of a secure loan within seconds as long as you have digital assets as security.