Here you can read the next interesting article about Salt lending.
https://stocksgazette.com/2018/01/21/salt-salt-how-does-it-give-cryptocurrency-loans/#comment-205
Topic: Why Celsius is better than Salt? - page 5. (Read 108223 times)
They claim that loan will be approved without credit checks, but its taking months, no reply from team.
Anyone got approval?
Its useless. Cant' trust on lending coins.
Anyone got approval?
Its useless. Cant' trust on lending coins.
They are rolling out the system slowly from what I understand and there are about half a billion in pending loans it just launched in December. Try having some patience.
You have to understand that the system is actually on the process maybe because they have some important matter that they need to atyend to, as iur mate say many are still pending. All you have to do is just to wait and be more patience.
We're on the low in right now coin has a lot of potential as more users are aquired.
Interest really is 12 to 25%? Isn't that a bit on higher side? That's almost double by any conventional means.
It is common for these types of loans. Similar to their approach to overcollateralization (or credit enchancement).
Interest really is 12 to 25%? Isn't that a bit on higher side? That's almost double by any conventional means.
They claim that loan will be approved without credit checks, but its taking months, no reply from team.
Anyone got approval?
Its useless. Cant' trust on lending coins.
Anyone got approval?
Its useless. Cant' trust on lending coins.
They are rolling out the system slowly from what I understand and there are about half a billion in pending loans it just launched in December. Try having some patience.
OK. To clear some misconceptions.
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It is regulated by SEC. See the following link for their license: https://www.sec.gov/Archives/edgar/data/1686400/000168640016000001/xslFormDX01/primary_doc.xml.
SALT is not p2p lending. SALT essentially enables accredited investors/banks etc to lend money using crypto as a collateral. Collateral is 250% of principal BUT there have been unverified reports of 20% of principal.
https://imgur.com/a/H4Pn3
https://imgur.com/a/xthrl (terms here that verify the 250% claim).
Interest is anywhere from 12 to 25%
Loans are to USD only. They can be deposited to any bank account worldwide that can accept USD.
If the value of the collateral drops you will be asked either to top up your collateral. Failure to do so will result in margin call and qualification of part of your collateral.
You can use the SALT token to pay back part of the loan but NOT the whole loan and not from the get go.
You need SALT token to apply for membership to get approved.
Loans are going through but the process is slow (see above for docs).
----
It is regulated by SEC. See the following link for their license: https://www.sec.gov/Archives/edgar/data/1686400/000168640016000001/xslFormDX01/primary_doc.xml.
SALT is not p2p lending. SALT essentially enables accredited investors/banks etc to lend money using crypto as a collateral. Collateral is 250% of principal BUT there have been unverified reports of 20% of principal.
https://imgur.com/a/H4Pn3
https://imgur.com/a/xthrl (terms here that verify the 250% claim).
Interest is anywhere from 12 to 25%
Loans are to USD only. They can be deposited to any bank account worldwide that can accept USD.
If the value of the collateral drops you will be asked either to top up your collateral. Failure to do so will result in margin call and qualification of part of your collateral.
You can use the SALT token to pay back part of the loan but NOT the whole loan and not from the get go.
You need SALT token to apply for membership to get approved.
Loans are going through but the process is slow (see above for docs).
So does Salt provide funds internally, rather than users being able to lend to each other? Are the funds pegged to crypto (ie. if the market tanks, will this impact on the 'safety' of lending to other users?)
They claim that loan will be approved without credit checks, but its taking months, no reply from team.
Anyone got approval?
Its useless. Cant' trust on lending coins.
Anyone got approval?
Its useless. Cant' trust on lending coins.
It's lending coin, Bitconnect is dead, so I guess this coin won't be very active.
BCC is a ponzi scam had nothing to do with real lending, users simply handed over their btc coins for promises of riches.
thanks 
then let me ask more questions what an annual interest rate a person who borrowed has to pay to a lender? what the time periods are available to choose for returning fiat debt (month, half a year, year, more)? what penalties will be imposed on a person who didn't return fiat debt if there are such?
what an annual interest rate a person who borrowed has to pay to a lender? what the time periods are available to choose for returning fiat debt (month, half a year, year, more)? what penalties will be imposed on a person who didn't return fiat debt if there are such?Look at the following link. There is a lot of information about the SALT lending and everything could you interest in.
https://coincentral.com/salt-lending-beginner-guide/
It's lending coin, Bitconnect is dead, so I guess this coin won't be very active.
Requested loan about a month ago, haven't heard anything back. From their announcements lately, I'd guess there must be quite a backlog of applications to process.
Still no one from here didn't receive money?
then let me ask more questions what an annual interest rate a person who borrowed has to pay to a lender? what the time periods are available to choose for returning fiat debt (month, half a year, year, more)? what penalties will be imposed on a person who didn't return fiat debt if there are such?
what an annual interest rate a person who borrowed has to pay to a lender? what the time periods are available to choose for returning fiat debt (month, half a year, year, more)? what penalties will be imposed on a person who didn't return fiat debt if there are such?
Bank as a lender risk always own money and very often without a collateral. I think If you lend money to someone and will you keep BTC as a collateral you are still in a better situation than without a collateral. Always exist some risk of course.
SALT is a really good coin, I"m gonna HODL it longterm!
1) but if a person who borrows won't return a debt then what penalties or fees would be imposed on him?
2) and what is a benefit for an investor to give fiat money for lenders? let's assume theoretically that an investor gave fiat money for lending, got his crypto assets as collateral and then a crypto market would fall down drastically and wouldn't go upside anymore. in this case this investor would lost a high percentage of his assets and moreover maybe it would be hard to sell crypto assets on a falling market with decreasing volumes
2) and what is a benefit for an investor to give fiat money for lenders? let's assume theoretically that an investor gave fiat money for lending, got his crypto assets as collateral and then a crypto market would fall down drastically and wouldn't go upside anymore. in this case this investor would lost a high percentage of his assets and moreover maybe it would be hard to sell crypto assets on a falling market with decreasing volumes
Lenders assume risk, it's part of the business.
1) but if a person who borrows won't return a debt then what penalties or fees would be imposed on him?
2) and what is a benefit for an investor to give fiat money for lenders? let's assume theoretically that an investor gave fiat money for lending, got his crypto assets as collateral and then a crypto market would fall down drastically and wouldn't go upside anymore. in this case this investor would lost a high percentage of his assets and moreover maybe it would be hard to sell crypto assets on a falling market with decreasing volumes
2) and what is a benefit for an investor to give fiat money for lenders? let's assume theoretically that an investor gave fiat money for lending, got his crypto assets as collateral and then a crypto market would fall down drastically and wouldn't go upside anymore. in this case this investor would lost a high percentage of his assets and moreover maybe it would be hard to sell crypto assets on a falling market with decreasing volumes
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