SALT adds LITECOIN[LTC] as collateral for the Loans

One of the crypto lending platforms from US SALT has added Litecoin [LTC] as the collateral for the loans. SALT or  Secured Automated Lending Technology is a platform offering a blockchain-based loan. In a Twitter update, the firm announced the acceptance of  LTC as collateral for the loans. The firm would also be adding some new features like removing the maximum cap on loan amounts and updating loan solutions for emerging markets.

The platform is offering loans in USD at an interest rate of 5.99% for loans up to $75,000. Loans up to $25 million feature an interest rate of 11.99%. The firm also has a token that was first traded in July 2017. Its user base is also 70,000 worldwide.

Check out their announcement on Twitter.

Read more at bitcoinexchangeguide

Three reasons why you should avail a Crypto-backed Loan

Loans are the hard reality of our lives. Car loan, home loan, personal loan and the list could go on and on. While all the loans offered by traditional banks are linked to some specific project, crypto-backed loans differ from that. With crypto lending, one could put in his/her digital currency as collateral and ask for a loan in alternative cryptocurrency or fiat for the project they wish for. So once you have secured your cryptos in the digital wallet with a crypto lending platform, and the loan is released you are free to use it as per your wish for buying a car, or home improvement or even putting stuff in business.

Bitcoin loans or blockchain based loans are ideal for individuals who need instant cash in exchange for their valuable cryptocurrency. Listing down few of the other reasons entities could consider to try out crypto loans.

Reasons To Avail Crypto Loans

Effective Crypto Asset Management

Would you like to just let all your hard earned cryptos go away when you are in need of cash? Well, experts recommend that would be not an effective crypto asset management strategy, but you still need extra money. Crypto-backed loans are the answer, a win-win situation where you can get extra money with a promise that you can have all your cryptos back to your wallet.

Instant release of loan amount

Most of the crypto lending platforms release the loan amount [in fiat] directly to borrowers bank account within 4~24 hrs. The whole loan request to loan release process is automated and digitized, making it quick, simple and effective for borrowers who are in dire need of liquidity.

No implications on your credit score

Do you know in India people having less CIBIL score less than 750 gets rejected by banks on their loan request? This is not valid for crypto-backed loans, and also availing a crypto loan does not affect your credit score. So you are free to take a crypto loan and leave the worries about credit score in the dump.

No Paperwork, no documentation, no processing fees, and no credit scores are needed for a crypto-backed loan. Just a handful of cryptos is all you need.


Nuo is a decentralised and transparent crypto banking platform. It acts as a blockchain powered financial control centre to store, spend, borrow and grow your crypto-currencies. Install the android app or try out our crypto backed loans platform.

If you liked our post, please follow us on twitter [@getnuo] to get latest updates and insights.

3 Rules of Crypto backed Loans Every Investor Should Know

Investment of any sort is risky and is mostly played by rules by all genres. Even a child when he sets up a trade of toys exchange quickly analyze benefits he could reap and risks he could face, then how could the world of crypto backed loans be spared? Today’s post is all about the rules, precautions to be taken while signing up for crypto backed loan.

Three Rules of Crypto backed loans

 

Rule #1 – Diversify your Portfolio

Distributing your investment to multiple borrowers based on loan amount, geography or duration is the first rule to be followed. So, for example, if you have planned to invest 10 BTC amount, then break it into chunks, i.e., funding 2BTC for five borrowers that is a mixed bag of long term or short term and belongs to developing and developed nation.

By choosing among the developed/developing nation, you are reducing your risk of default, and while long-term loans help in reducing the workload of follow-ups, short-term offer the benefit of reinvesting and improving liquidity. So choose accordingly.

Rule #2 – Know the Risks

While lending offers benefits of high returns, it is still in a nascent phase with very less awareness. So if the borrower fails to repay the amount, would it lead you to bankruptcy? Or analyze the amount of how much you could lose say the borrower is new and does not have much knowledge on the latest technology, so make sure all of your eggs are not in the same basket. Crypto backed loans are high on returns but also come with high risk.

Rule #3 – Analyse, Learn and Realign your investing techniques

Well, there is no rulebook of crypto backed loans technique that one could follow and eliminate risk, but make sure once every fortnight or even monthly analyze your crypto portfolio in terms of returns and realign or redistribute to make it profitable.

All it takes is time and perseverance to get good returns on crypto backed loans; it’s like sowing the seeds and watering it daily until you see the flowers and finally fruits. However, beware of harsh sunlight, thunderstorm, weeds, and pests that could harm your investment.

Happy investing!

If you liked our post, please follow us on Twitter [@getnuo] to get the latest updates and insights.

Bitcoin Loans – Indian Industry in dilemma

While Indians are still searching for the best interest rates, a new offering from the crypto world has knocked India – Loans against crypto assets or crypto loans.

News.Bitcoin.com surveyed players in the industry, and their responses can be categorized as skeptical. Abhi Upadhyay, from the mobile lending space, says – “Traditional financial institutions like banks are never going to come close to accept cryptocurrency as security.”

Manav Jeet, Founder, and CEO of Rubique, a prominent fintech player in the digital space – We are the best-regulated markets, and even in terms of awareness, only a tiny portion of Indian population is using cryptocurrency. It will take a lot of time for us to get to the stage where we can imagine this form being used in secured loans.”

While in terms of Fintech adoption India has exhibited the second highest fintech adoption rate (59% while the global average is 33%) as per the EY Fintech adoption index, but Bitcoin loans as Saurabh Shankar, head of marketing at Paysense says – conceptually the idea is not bad, but the practical side here revolves around regulations and actual ease.

Read more at News.bitcoin.com


Nuo is a decentralised and transparent crypto banking platform. It acts as a blockchain powered financial control centre to store, spend, borrow and grow your crypto-currencies. Install the android app or try out our crypto backed loans platform.

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