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Salt Cryptocurrency

What is SALT?

A Guide to Understanding, Buying, Selling, Sending & Mining SALT

An In-Depth SALT Guide by Americas Cardroom

The digital currency market is emerging and evolving day by day. Every day, you can see profound changes in an industry that is shaping the world of money. Within this ecosystem there exists a new acronym by the name of SALT. But what is it and what are its benefits?

Let’s investigate.

What is SALT?

SALT is an acronym for Secured Automated Lending Platform, a platform which allows its users to acquire cash loans by using their cryptocurrency as collateral. It is the latest concept in a cryptocurrency market that has been making significant headway in dominating digital money-lending culture.

How Secure is SALT? | Is SALT a Private Cryptocurrency?

Yes, SALT is most definitely both secure and private. All transactions are completed online through a secure platform, which has led to a decrease in the number of financial cyber frauds. The platform operates under robust security measures that prevent unauthorized individuals from accessing another user’s digital transactions. 

The SALT token was issued over the Ethereum blockchain, which further secures all SALT transactions.

What Backs SALT Currency?

The SALT cryptocurrency is a native blockchain-backed secured token published over the Ethereum network. The SALT platform first appeared on the market in 2016 with the aim of fulfilling the digital money-lending needs of people across the globe.

How Will SALT Gain Value?

The value of SALT token depends on numerous factors such as:

  • Demand
  • Scarcity
  • Utility

Like all investments, SALT token prices can and will fluctuate greatly based on larger market trends and forces, particularly those of Bitcoin and Ethereum. As the demand for SALT tokens increases, so too will its valuation and market-cap.

How to Mine SALT?

If you have a desire to mine SALT, you’ll need a cryptocurrency miner to begin.  Miners are machines that are integrated with a robust motherboard, ASIC chip, and a cooling system to stop your miner from overheating and malfunctioning.  

By running one or more miners, you will help you generate blockchain-based cryptocurrency known as SALT token, which can be used either to trade for other cryptocurrencies such as Bitcoin and Ethereum, or to lend money on the SALT platform and make further gains.

Where to Buy SALT Crypto Currency?

So you have decided that you’d like to invest in SALT, but where is the best place to purchase SALT cryptocurrency tokens? If this is the question you’re asking yourself right now worry not, we are here to make the process as easy as possible for you. 

SALT tokens can be found on numerous cryptocurrency exchanges such as Binance and Huobi that make the purchasing process quick and painless.

To do so, you’ll likely first need to use your USD to purchase Bitcoin or Ethereum via the same exchanges and then convert it into SALT tokens via the trading platform mechanism, exactly as you’d do when purchasing stocks like Facebook and Apple.

Let’s look at the process in a little more detail.

How to Buy SALT Cryptocurrency Tokens?

Want to know how to most easily buy SALT tokens? Here is the simplest method.

As stated above, you cannot simply convert your fiat into SALT directly. Instead you’ll need to first purchase BTC or Ethereum and proceed from there.

Step #1: Buying BTC

To purchase your first Bitcoin (or fractions thereof), head over to the registered cryptocurrency exchange such as Binance.com and complete your initial signup.

To accomplish this step, you’ll need to go through a small process that will require you to add some of your personal information. Once you’ve successfully completed all the basic requirements, you will receive confirmation via your listed email account.

In the confirmation email, the platform’s security protocols will likely ask you to complete a basic 2-step verification process.

Now here comes an important part! You will be asked to verify your identity to show that you are an actual real individual (as opposed to a bot or a fake person).

In addition to this, you’ll need to add your payment details to your account to enable the ability to make a cryptocurrency purchase.

Finally, once all the above steps have been completed, you will be allowed to explore the exchange platform freely and make a BTC, Etheureum or other cryptocurrency purchase.

Step #2: Converting BTC to SALT

Once you have acquired your BTC, all you need to do is head to the BTC/SALT tab and convert one cryptocurrency into the other. That’s it!

How to Setup a SALT Wallet? | MAC & PC

Ok, so you are all done with acquiring your SALT tokens and are now excited to set up a SALT wallet to keep your valuable tokens safe. Here are the steps that allow you to do so in as quick and safe manner as possible.

  1. Open Lumiwallet.com and head over to the “Products” section.
  2. Click on the “Wallet”.
  3. Now scroll below, you will see that they have listed downloadable Applications separately for both PC & MAC users.
  4. Download and Install it on your device.
  5. Add essential information, and tada, you are all done!

How to Send SALT to Wallet?

It couldn’t be easier to send SALT tokens to your personal wallet, follow these steps to do so.

Login to the downloaded wallet application and go to the “My Wallet” area.

  1. Click on the “My Address” section.
  2. Search out the “Send” button to click over it.
  3. Here, choose your coin and add beneficiary details.
  4. Add the details of the transaction, click the send button, and receive your tokens near instantly. 

Conclusion

Thanks to the digital cryptocurrency revolution, it’s never been easier to invest in projects you believe in. Whether it’s Bitcoin, Ethereum, or SALT, make sure to first do your due diligence and then – since cryptocurrency can be extremely volatile – invest in a safe manner that will protect you and your investing bankroll from the inevitable ebbs and flows of the market.

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