First off so you guys dont think im pumping the coin, I don't own any SALT r/n
Because my money is stuck with coinbase (thank you coinbase for fucking me over, appreciate it)
As soon as it will clear i will buy it.
But I wanna tell you why I fell in love with this coin in the past few days, after I researched it.
Basically SALT is one of the best ideas i've heard of in crypto.
They're doing "crypto backed loans".
Heres what they're gonna do - >
Lets say you own BTC and need cash (a loan) but dont wanna sell your crypto.
You can use your BTC as collateral and get CASH, then they will hold on your BTC until you pay them back.
Now here in the USA when you're trying to take a loan, they check your credit score and approve you or decline your request based on your credit.
Problem is - most people that needs a short term loan has shitty credit.
So SALT doesn't do any credit checks... because it doesnt need to
You're basically using your crypto as backup - if you wont pay the loan they will keep your crypto
But that way you can invest in crypto and still stay liquid (fiat wise)
It doesnt even have to be for people that need a loan...lets say you're holding ETH but need some cash right now to buy your mom a gift, and your salary comes in a week.
You don't wanna get out of your ETH position so you use SALT, and pay them back when u get your salary.... brilliant
I wonder what you guys think and if any of you invested in this project....
It just seems like a brilliant idea to me because I can see how useful it can be
Because my money is stuck with coinbase (thank you coinbase for fucking me over, appreciate it)
As soon as it will clear i will buy it.
But I wanna tell you why I fell in love with this coin in the past few days, after I researched it.
Basically SALT is one of the best ideas i've heard of in crypto.
They're doing "crypto backed loans".
Heres what they're gonna do - >
Lets say you own BTC and need cash (a loan) but dont wanna sell your crypto.
You can use your BTC as collateral and get CASH, then they will hold on your BTC until you pay them back.
Now here in the USA when you're trying to take a loan, they check your credit score and approve you or decline your request based on your credit.
Problem is - most people that needs a short term loan has shitty credit.
So SALT doesn't do any credit checks... because it doesnt need to
You're basically using your crypto as backup - if you wont pay the loan they will keep your crypto
But that way you can invest in crypto and still stay liquid (fiat wise)
It doesnt even have to be for people that need a loan...lets say you're holding ETH but need some cash right now to buy your mom a gift, and your salary comes in a week.
You don't wanna get out of your ETH position so you use SALT, and pay them back when u get your salary.... brilliant
I wonder what you guys think and if any of you invested in this project....
It just seems like a brilliant idea to me because I can see how useful it can be