SALT Lending Update: SALT Loans Are Live!!
Got an e-mail update 27 December 2017 from SALT Lending about their product launch, SALT loans are now live.
The purpose of this post is to spread the word about this update.
I am currently a holder of SALT tokens.
Snapshot from www.SaltLending.com website
SALT Lending Update
Dear SALT Community,
2017 has been an incredible year for SALT, and we are overwhelmingly grateful to every member of our community that has contributed to our successes. From everyone at SALT, thank you!
SALT loans are live!
We have issued initial loans to a small group of members and we expect to have originated over $10m in loans by the end of this year. Our platform will continue to be rolled out in stages to ensure quality and security as we scale to meet the extraordinary demand for loans. We are excited to extend the application process to all of our community and expect to have between $50m and $75m in active loans by the end of January 2018. We are working as quickly as possible to safely and responsibly expand the rollout to serve the needs of each and every member.
While we will be continually adding new features and issuing more loans over the coming months, we are committed to a prudent and careful growth strategy. Our first priority is, and always will be, maintaining a secure and trustworthy product through every stage of deployment.
Some important things to note:
We will be initially providing loans (US dollar denominated and backed by Bitcoin or Ethereum) first to Enterprise members, followed by Premier members, and then to Base members.
As we continue the rollout this week, you will see a loan application form in your membership dashboard. If you have not already done so, you will be required to verify your identity before you can apply for a loan.
Each member’s access to loans and the order in which members are served will be determined case-by-case based on membership tier, local jurisdiction laws, and the order in which they applied for a loan.
As a thank you to our community, we will be allowing members to repay both their principal and interest with SALT (valued at retail price) instead of US dollars. Terms and conditions are subject to change and limitations. Final terms determined at the origination of each loan.
We are excited to begin the monumental task of serving our community of members. We appreciate your patience as we work hard to meet all of the demand in a responsible and secure manner. 2018 will be another incredible year for SALT, its members, and the blockchain space as a whole. We are proud to have each and every one of you as a member of our community!
All the best,
The SALT Team
Links in the E-mail
These Guys Want to Lend You Money Against Your Bitcoin, Bloomberg, 13 December 2017
What can SALT be used for?, SALT, 13 December 2017
Do Your Own Due Diligence
Coinbase
I buy my Bitcoin, Bitcoin Cash, Ethereum, and Litecoin through Coinbase. For me, buying them through Coinbase is fast and convenient. Plus, you will get $10 in Bitcoin when you signup at Coinbase using this link and you buy $100 or more of crypto-currency.
The reason I like Coinbase is that they stand up to an over-reaching government: Coinbase Obtains Partial Victory Over IRS, 29 November 2017
Ledger Nano S
For safe keeping I store my cryptocurrencies and tokens on a Ledge Nano S, I bought mine on Amazon.com.
Links to Amazon Products in this Blog Are Provided for Your Shopping Convenience
I am a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for me to earn fees by linking to Amazon.com and affiliated sites.
DISCLAIMER :
This content is for informational, educational and research purposes only.
Please get the advice of a competent financial advisor before investing your money in any financial instrument.
It is strongly recommended that you consult with a licensed financial professional before using any information provided here. Any market data or news commentary used here is for illustrative and informational purposes only.
Trading involves a high level of risk. Future results can be dramatically different from the opinions expressed herein. Past performance does not guarantee future performance. Consult an investment professional before investing.
All ideas, trade signals, opinions and/or forecasts are for informational, educational and research purposes only and should not be construed as a recommendation to invest, trade, and/or speculate. Any investments made in light of these ideas, trade signals, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk. I am not an investment advisor, information shared here is for informational, educational and research purposes only and not a recommendation to buy or sell anything.
Thank You!
Thank you!
It is really a great news for us to take the loans there.
so i can directly to to salt and sell my
wow finally its live awesome update
oh that's why the price rise so much higher
salt was a good purchase later this year
That's amazing news made by SALT, and I hope upcomming year give them a fruitfull result 😊
Interesting proposal made by this company, I will register friend to see what happens.
What does mean about the price of SALT?
I checked the SALT website, the retail price of the SALT tokens is $27.50 and the CoinMarketCap price shows $13.98 per token at this time. That is a $13.52 spread right now. It is like giving money away.
If you bought SALT tokens on an exchange right now, you could transfer them to your SALT account and use them at the $27.50 per token price to secure a loan.
This is why I think that as the lending market matures that the price of the tokens on exchanges will tend toward the retail price of the tokens on the SALT website.
This is the main reason I invested in SALT during the ICO. I saw the possibility of this potential. And even now, they are a good buy on the exchanges. I am just giving my opinion and not financial advice.
Have a fantastic weekend and a prosperous New Year!!
Steem on,
Mike
This is one of the first tokens I am in that has launched their product (loans).
To obtain a loan on your cryptocurrency, you will need to buy SALT. The more SALT tokens you have, the higher amount of a loan you can apply for.
I am not entirely sure what the e-mail meant buy you can use your SALT tokens as collateral or payment based on the SALT token "retail price". The last time I checked, they were selling the SALT token on the SALT website for $25. At this time, CoinMarketCap has the SALT token at $16.8479 USD. It is possible that the CoinMarketCap price will approach the $25 price. I am not really sure.
I do know that as the demand for cryptocurrency loans increase through the SALT platform, the value of the SALT tokens should increase too.
Looking forward to a SALTy New Year!
Steem on,
Mike
Yeah I think salt has big potential. The main problem I think it faces is if say someone put a 1btc collateral loan down and the price was 15k at the time. Let's say they got a 10k loan from that then the BTC price dips to 9k. It would be economically beneficial if the borrower just used the loan to buy BTC and not pay the loan back as they would increase there BTC holdings. Obviously this depends alot on salts max loan based on market price so they could just lower the max loan to help overcome this. I'm not sure what there max loan is as a percentage of colateral but was just thinking in this volatile market that certainly could happen.
That being said I'm bullish on salt as I feel eventually the spare tokens not sold on the platform will go into the platform as it's cheaper for the borrower to do that and the supply on exchanges will go down until the price is just slightly below that of the platforms (a long term price move).
Excellent post.Well done.........
Awesome! Thanks for the update! I too am long on SALT and hope 2018 will be a great year for the SALT Team :)