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SALT Coin – Ultimate Cryptocurrency Guide

About this guide: Our SALT coin (Secured Automated Lending Technology) guide will give you everything you need to know including a review of salt coin. We’ll explain what SALT is, what it does and offer our opinion on the inevitability of the project. We always urge caution before investing in any cryptocurrency and encourage you to do your own research.

What Is SALT?

You can think of SALT as a cryptocurrency pawnbroker. Customers come to SALT to get fiat currency loans and use their cryptocurrency as collateral. This means cryptocurrency investors can get access to fiat currency and keep their cryptocurrency. Like a pawnbroker loan, applications do not require credit checks and the process is fast and easy. For anyone wanting to use SALT, you must be prepared to give the following information:

  • First name
  • Last name
  • Email address
  • Upload of ID e.g. passport (to comply with regulations)

It must be noted that SALT is the loan platform; this means they do not make the loans themselves. Instead they match customers with a network of lenders and facilitate the loan. With SALT you get your cryptocurrency back as soon as you have repaid the loan. Unlike traditional lending, there are no early repayment fees.

SALT is the next generation lending platform for blockchain backed loans and gives customers an alternative way to get their hands on fiat, without selling their cryptocurrency. This means customers can still enjoy gains in cryptocurrency prices, whilst making large real world fiat purchases.

How Is The SALT Coin Token Used?

To use the lending platform you need to become a member. The SALT token is used to purchase membership on the platform. As it becomes more popular, the value of the token should increase. The costs of gaining membership to the platform are as follows:

  • Regular membership – 1 token per year.
  • Premier – 20 tokens per year
  • Enterprise – 100 tokens per year

SALT cryptocurrency membership tier graphic

As with most tiered programs, higher membership levels mean better terms, higher loan amounts and perks.

Loans are paid back in SALT tokens. The more loans that are being taken out, the higher the demand for tokens.

The SALT token is also used by the platform’s network of lenders. These lenders are using the platform’s infrastructure and are lending to the platforms customers. In addition, SALT deals with all the compliance and security. In return for these benefits, any lender must also buy membership to use the platform.

How Do SALT Loans Work?

Like a pawnbroker, SALT will not ask for your credit score. The loan is simply secured against the cryptocurrency you will use as collateral.

Once you have provided your details and complied with any necessary ID checks, you will receive loan offers from lenders. It’s then on you to look through the offers and select the correct deal for you.

Once the borrower selects a loan deal, the lender then sends the fiat via smart contract. When the cryptocurrency collateral and fiat have been sent, the money will then be sent to the customers bank account.

SALT loans are paid in monthly chunks and once the loan is fully paid off, the smart contract will release your cryptocurrency back to you. This means the loan and claiming back of collateral is trustless. Borrowers also have the option to repay their loan early, at no additional cost.

What Is The Oracle Wallet And How Can It Impact On Loans?

The SALT Oracle wallet stores the collateral and enforces the terms of the loan through automation. The wallet also carries out some other important functions:

  • It monitors the loan payments made by the borrower to the lender.
  • The value of the cryptocurrency asset collateral is monitored.
  • Alerts are made if the value of the collateral falls below the threshold agreed in the terms of the loan.
  • It returns the collateral to the borrower, once the loan terms are met. It can also liquidate the collateral if the borrower breaches the terms and returns fiat currency to the lender.

With every SALT loan, there will be a collateral loan to value ratio. For example, if we borrowed $10,000 and used $12,500 of Ripple collateral to secure it. We would have a loan to value ratio of 80%.

($10,000 / $12,500) * 100 = 80%

Like a mortgage, this ratio decreases as a borrower pays back the loan (if the cryptocurrency price stays the same) and reduces the outstanding balance. However, if the cryptocurrency used as collateral falls in price, this will increase the loan to value ratio. Every loan will have a maximum threshold for the loan to value ratio. If this is breached due to falling cryptocurrency prices, then the borrower will have two options:

  • Use fiat to pay off some of the loan, so that the loan to value ratio (LTV) falls within the agreed upon range.
  • Add more cryptocurrency as collateral, to reduce the LTV.

Problems And Opportunities With SALT Loans

The issue with using cryptocurrency as collateral is that prices can fall or rise very quickly. The amount of time that the borrower has to react to alerts from the SALT Oracle Wallet, depends on how quickly the price changes. Any borrower must be aware that the smart contract will liquidate your cryptocurrency if you do not respond fast enough. A minimum of three signatures is always required to execute a liquidation order.

This can work both ways though. Some loans will have terms that give borrowers additional options if cryptocurrency prices rise. These include:

  • To add the increase in collateral value to the loan and get a credit increase from the lender.
  • To get back some of their cryptocurrency, as their loan has too much collateral.

These options will depend on the agree loan terms. If you are evaluating loan offers, then it is worth considering how these terms may impact you.

The Team

Investors and customers alike want to see a great project, but also want to see a capable team to execute a viable user experience and product. We think that the top brass at SALT are capable of driving the business forward.

  • CEO – Shawn Owen: An experienced entrepreneur with a track record in operations, systems development client service and product delivery.
  • Chief Operations Officer – Gregg Bell: A credit expert with over a decades experience 
  • Chief Strategy Officer – Ben Yablon: Has 15 years of legal and compliance experience focused on new fintech platforms.
  • Business Development – Blake Cohen: Has 5 years experience in reviewing and producing contracts.
  • Creative – Caleb Slade: Has worked in mobile app development, product design, branding and user experience roles. With 3 years working in the cryptocurrency space, Caleb can be considered a veteran.
  • Chief Financial Officer – David Lechner: Previous experience in investment banking, with a focus on debt financing and corporate development.
  • Chief Information Officer – Joshua Berlin: Specializes in high producing engineering teams. He now leads the SALT project engineering team.
  • Senior Advisor – Kevin O’Hara: Is a true veteran, with 30 years experience in entrepreneurship, law, regulation financial markets, corporate governance, capital raising and technology. During his career he has served as Executive Vice-President and Co-General Counsel of the New York Stock Exchange. There is no doubt in our minds that Kevin can add significant value to the SALT project as an advisor.
  • Compliance – Marc McCain: Has worked for a decade in broker dealer operations and compliance. With such a wealth of experience, it seems that he is the man to keep SALT on the right side of regulators.

Who Is Backing The Project?

SALT partner logos. Shapeshift, Exodus and Keepkey

SALT has teamed up with highly respected wallets such as JAXX and Exodus. Shapeshift is also one of the most popular decentralized exchanges and the project has added them to their roster of partnerships.

As SALT continues to grow and expand their product range, we expect there to be many more strategic partnership announcements.


The SALT ICO took place on the 15th August 2017 and they raised the full target of $48,500,000. ICO investors have already made strong gains, with the ICO token price being just 89 cents.

The token first hit exchanges on the 29th September at a price of $6.91 and reached an all time high of $17.49 on the 29th December 2017. SALT is certainly a project to keep an eye on in the next cryptocurrency bull run.

Should I Invest In SALT?

It’s your decision whether you invest in SALT coin or not. We can give you our thoughts though:


  • Solid, experienced team.
  • The service provided solves a real problem in a simple and straightforward way. We think the concept of being able to keep your crypto and get cash for real world purchases is only going to become more popular. There is always being a demand for credit and think it’s an evergreen service.
  • The project really does belong on the blockchain and we think that lending is an excellent use of smart contracts. After all, your crypto is valuable and most people want the knowledge that they will get it back.
  • As rules surrounding taxation become clearer, SALT is likely to benefit HODL’ers that want to avoid taxable events. For example, instead selling crypto for fiat to fund purchases and creating tax liabilities, SALT may offer an alternative.
  • The token has a real use case in the ecosystem.
  • The platform seem to be taking compliance exceptionally seriously.
  • The launch of a crypto-secured credit card in 2018 should be positive for the valuation of the SALT token.


  • Cryptocurrencies are volatile and if the market takes a dip, this may result in the liquidation of borrowers cryptocurrency. Borrowers are given some time to take action, but we don’t like how this depends on how fast the cryptocurrency price is changing. A fixed amount of time to react would be better. If a lot of customers had their cryptos liquidated, then it’s likely the platform will get some bad PR, which could hurt the token’s price.
  • Other competitors like ETHLend exist. With crypto banks beginning to enter the market, it is likely SALT will see further competition in the future.
  • Future government compliance may pose a threat to the lending platform.
SALT coin price graph

Image via CoinMarketCap.com

How To Get And Store SALT?

We have put together this detailed guide showing how you can get and store SALT coin.


We think that SALT is a project that solves a real problem in the cryptocurrency market. Getting credit and keeping your crypto, seems like a very attractive proposition to most of the cryptocurrency community. We know that lending is an extremely profitable and in demand industry in the real world and we have no reason to believe it will be different in crypto. In fact, right now there is so much demand for the SALT platform, that they have blocked new member sign ups.

SALT cryptocurrency blocked registration message

SALT also already has a working product and customers. It has a realistic vision, where the price of the crypto is based solely on future expectations.

Regulation could result in head or tailwinds for the project. Only time will tell and it’s likely any negative regulation will impact on other cryptocurrencies in addition to SALT.

There are new SALT products on the horizon as well. The team have announced that they will launch their crypto-secured credit card in 2018. Such a release will enable SALT to compete with crypto card issuers like TenX (who are a top 100 cryptocurrency in their own right).

At Total Crypto, we do see the value the project brings the cryptocurrency community. We are eagerly anticipating the launch of the crypto-secured credit card and will certainly try and get our hands on one.

Other Exciting Crypto Projects At TotalCrypto.io
1) Power Ledger – Disrupting the Renewable Energy Sector. It’s The Perfect Project For Ethical Investors.

2) TV Show Silicon Valley’s Decentralised Internet Is Real! Find Out More About Substratum & How They Are Creating The New Internet.


Below we’ve listed some key resources relevant to SALT.

? Safest SALT Wallets

Hardware wallets are the safest crypto storage solutions available. These wallets store your private keys and do not expose them to the outside world, making your crypto as safe as possible. Maybe you should treat your crypto like the million dollars it could well be worth one day?

Can’t decide if Trezor or Ledger is best for you? Just check out our Ledger Vs Trezor comparison guide.

? Best Free Wallets

As SALT is an ERC-20 token, you can use a wallet that is compatible with Ethereum.

? Best Apps To Track Your SALT Investment

Useful Links

DISCLAIMER: Be aware that the activity of cryptoassets mentioned in this article is unregulated. This article must not be construed as investment advice. Always do your own research.

Want more information on how SALT crypto backed loans actually work? The official SALT white paper tells you everything.

DISCLAIMER: Be aware that the activity of cryptoassets mentioned in this article is unregulated. This article must not be construed as investment advice. Always do your own research.
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