Today in the 10th episode of my quick look at cryptocurrency series we are going to focus on SALT
SALT is a token and platform designed to enable people to take loans using Bitcoin . It pretty much creates the marketplace beetween you - the borrower, and the network of lenders. This works as collateral-backed loan - the same rule as mortgage, but instead of using our house, we are using cryptocurrency
SALT tokens essentially act as membership on the website and allow us to take out these loans
At the beggining only Bitcoin is avaiable, but later on there should be more cryptocurrencies in the offer (Ethereum is planned to launch in Q1 2018)
It's pretty similar to the Bitcoin Futures that were the loud news lately. Bitcoin Futures could attract many new crypto - users and therefore some of them may get interested in SALT as the mean to speculate on Bitcoin
SALT's team holds a big chunk of tokens which causes a lot of criticism
Let's move on to the prices:
- Date of launch 29th September 2017
- Starting price $6.91
- Lowest price $2.14
- Highest price $8.65
- Current price $8.02
Investment aspect:
Works similar to Bitcoin Futures - could attract many new users and also allow many of todays users to use leverage to speculate
It is still not a fully ready project - a lot of work ahead of it
SALT is for sure an interesting platform, but Its' success could lead to even bigger pump into cryptocurrencies because it allows us to speculate on an even bigger scale. What do you think about this project? Let me know!