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SALT is a cryptocurrency that is related to the SALT project, which is a membership-based lending and borrowing network. The network allows users to leverage their blockhain assets to secure loans. Users are able to use their cryptocurrency holdings as collateral. The advantage to using SALT is that it avoids exchange fees, offsets certain tax events and gives users access to cash.
The SALT token, or coin if you will, is the cryptocurrency used for trading. SALT was started in 2016 and in 2017 the first Blockchain-Backed Loan Agreement was created. SALT was chosen as the name of the company because it goes back to a time in history when table salt was used as a commodity for trading. SALT also is the name for the program, thereby the acronym Secured Automated Lending Technology.
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SALT is the first lending platform to give blockchain asset holders the ability to get a loan without having to sell their holdings. SALT is simply a lending business that is secured by non-traditional collateral.
SALT can be bought and sold as a cryptocurrency on some of the exchanges, but because it is not widely used, it does have to first be purchased using Bitcoin.
How do I buy SALT?
You can buy SALT by using one of the currency exchanges such as Bittrex or Poloniex. These exchanges allow you to use a credit or debit card or bank transfer to buy Bitcoin and then you can exchange it for SALT. You can then send SALT to your sportsbook account and you can withdraw SALT from your sportsbook account to your digital wallet.
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