Is SALT's Loan Better Than a Classic Bank Loan?

Jan 08, 2018 at 10:00 // News
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SALT's loan is better than classic bank loan

Distributed Ledger Technology allows for unprecedented levels of transparency, audit ability and transferability. SALT tokens are built on an Ethereum smart contract, making them among the most secure tokens available.

Loan by SALT has many good features which can attract many clients who have a problem getting a loan from a classic bank.

When you go to the bank to ask for a loan, you will have to provide your true identity by two different IDs, where you live, where you work, how much you earn, if you are married, how many children you have etc. and then the bank checks your credit history. All of these processes take a few days and then the bank comes to you with an offer. The bank may say that it is not possible for you to get a loan because of your low income and they will recommend that you find someone who will stand as surety for you.

Everyone who wants to avoid this annoying process can try SALT lending. Blockchain-Backed Loans are executed very quickly. They do not care about your income, credit or anything else that was aforementioned in the previous paragraph.

The only thing you need is to own BTC, ETH or another cryptos which can you use as a collateral. The really good thing is that you will not lose your cryptos which you have used as collateral as after you pay the loan off you will get your secured cryptos back.

There is an easy approval process, you do not need to prove too much information about yourself. Your crypto's value can grow, which will be given back to you after you repay the loan. As you can see, SALT lending loans have many advantages over classic bank loans.

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