A Brief summary of the workings of Salt Lending

The basics of the platform involve using Bitcoin or other cryptocurrencies as collateral for a loan. You can do this in light of selling your cryptos for cash. Some need cash in the short term and do not want to miss out on any gains their cryptos may make after they have cashed out.

Logistics

Salt requires you to over fund the loan amount by 20%. This will be returned to you upon repayment of the debt but will not be lent as it is held by Salt for a reserve on funds.

Salt charges 10% annually broken up into 12 equal payments. There is no charge for early repayment of loans.

You must acquire a membership to use the platform, which requires a payment of 1 Salt Coin for basic, 10 for premier and 100 for premium membership.

Salt coins can be bought from the platform directly for $27.50 but trade much lower on Bittrex, currently around $9.

You then choose a crypto you have that they support, like Bitcoin or Ethereum, and deposit it.

Salt will directly deposit cash into your bank account, for 80% the current value of coin deposited. Holding the afore mentioned 20% for overfunding.

Start Date for lending is January 1, 2018

Registration, funding, account creation and verification has already started.

sign up here:
https://membership.saltlending.com/register?r=eRaC7