SALT Community Membership

[abibliev]

Still no one from here didn't receive money?

[RedRockMining]

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.

[crush]

It's lending coin, Bitconnect is dead, so I guess this coin won't be very active.

[Beroximos]

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?

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/

[alexinv]

 thanks 

[33TITAN]

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.

[findshakil]

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.

[TheHas]

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?)

[ekseliksis]

OK. To clear some misconceptions.

----

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).

[33TITAN]

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.

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.

[anahata]

Interest really is 12 to 25%? Isn't that a bit on higher side? That's almost double by any conventional means.

[ekseliksis]

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).

[rhj1991]

We're on the low in right now coin has a lot of potential as more users are aquired.

[#CapsLOck]

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.

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.

[Beroximos]

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

[anahata]

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).

What's the other crypto based loan token, that is giving similar interest rates? Can you name a couple?

[ekseliksis]

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).

What's the other crypto based loan token, that is giving similar interest rates? Can you name a couple?

There isnt any other service similar to SALT (SEC approved, loans form banks/accredited investors etc).

However, there are plenty of services outside the crypto world that allow vert volatile assets to be collateralized. Their rates, collateral required etc are very similar.

[Beroximos]

https://www.banklesstimes.com/2018/01/24/what-is-salt-lending/

[stacking9mm]

Fair warning to anyone thinking about depositing their SALT tokens on your SALT website account  You won't be able to withdraw your salt tokens unless you give your id and other detailed information. I decided against using SALT but now my tokens are stuck and have no choice but to go through the long account setup process in order to get withdraw my SALT tokens. My own fault but just letting everyone know. I just really think SALT should really fix this issue and allow people to withdraw their tokens if they change their mind with the platform.

[Kalthir]

SALT is in the coin vote list for Legolas! Legolas is an upcoming premium exchange focused on institutional investors, so that means high volume! Participate in the public ICO, starting on the 1st of February 12:00 PM GMT, at https://legolas.exchange and cast your vote!