SALT is a decentralized lending platform that uses blockchain technology to facilitate the process. In this guide, we will go over everything you need to know about buying SALT tokens and how to use them.
The how is salt made is a question that has been asked by many people. This article will provide a step-by-step guide on how to buy SALT.
So, you’ve done your research on SALT and are enthusiastic about the idea. You most likely have two major concerns: how to get SALT and where to obtain it. This post will show you how to purchase the SALT token in the easiest manner possible and how to keep it secure.
Is it too late to purchase SALT?
The project is very young, having debuted on the stock markets on September 29, 2017. SALT reached an all-time high of $17.74 per token on December 19, 2017. SALT (along with the whole crypto market) is now trading around $2.80, which is a huge discount.
Most individuals who begin investing in cryptocurrencies do so in a rising market at all-time high prices. The ideal moment to invest in projects is typically when they are inexpensive, since this provides the highest potential returns to investors.
To summarize, it is not too late to purchase SALT. The project has just recently been publicly traded. The most relevant issue is: how much will it cost you to get in?
Is There a Limit to How High It Can Go?
SALT is a safe automated lending company that aims to launch a cryptocurrency-backed credit card in 2018. TenX, for example, is a cryptocurrency that focuses on offering crypto card solutions. For fun, let’s perform some figure crunching and see what SALT’s returns would be if:
- The project has once again achieved an all-time high.
- To simulate the introduction of the crypto-secured credit card, we add TenX’s all-time high to the SALT token’s value. It’s worth noting that we’re assuming this wasn’t included into SALT’s value on December 19, 2017.
The fact is that no one can predict what the future of any cryptocurrency price will be. We are optimistic about the future of bitcoin and think that demand for crypto-backed loans will rise. When it comes to cryptocurrency, it is still early days, and the market’s expansion could result in significant rises in the values of successful businesses.
SALT BUYING GUIDE – Our 2 FAVORITE METHODS EXPLAINED
We’ll teach you how to get SALT in two different methods. It’s up to you to determine which option is best for you:
- How to Purchase SALT Using Fiat Money This will include establishing Coinbase and bitcoin exchange accounts. We understand that bitcoin may seem to be a difficult and intimidating concept. Don’t worry, we’ll guide you through the process.
- Our second method is best for individuals who already have bitcoin and wish to convert it to SALT. We’ll teach you how to utilize the simplest exchange.
Purchasing SALT Using a Fiat
This is how newbies to the cryptocurrency world should proceed. You should also be aware that you will need to create a wallet in order to store your SALT. Don’t worry, we’ll teach you how to do it correctly.
You should be aware that you won’t be able to invest in the project in less than 5 minutes. It will take some time to put everything up. We will, however, teach you how to invest in the project in the simplest and most economical manner possible.
Investing in Crypto
Simply ignore the Coinbase information. There’s a good possibility you’ve previously hopped through this hoop. You did a fantastic job!
Sign Up For A Coinbase Account
The Basics of Coinbase
- Coinbase, the world’s most popular cryptocurrency exchange, was established in 2012 and has a long track record.
- Serious Backers: IVP, the venture capital company that participated in the most recent financing round, was an early investor in companies like Netflix and Twitter. Companies like the New York Stock Exchange are among the other investors.
- Simple to Use: Coinbase is known for its user-friendly UI. This makes it the ideal cryptocurrency exchange for beginners.
- Small Minimum Deposit: On Coinbase, you may deposit as little as €6 in bitcoins.
- Coinbase is a regulated cryptocurrency exchange, making it one of the few.
- Insurance and segregation of money: Customer funds are insured and separated. Customers in the United States are even covered up to a balance of $250,000.
- For US consumers, deposit methods include credit/debit card, bank transfer, and PayPal.
- Cryptocurrencies that may be traded include Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
- Email and FAQs are two methods of customer support.
Interested in investing more than $100 in SALT via Coinbase? There’s good news! By joining up via Total Crypto, you will also get a $10 bonus!
Do you need assistance in creating an account? Just have a look at our in-depth Coinbase tutorial!
My Coinbase Account Has Been Created! So, what’s next?
Congratulations for successfully leaping through the first hoop. Unfortunately, Coinbase does not provide a direct method to purchase SALT. This involves purchasing Bitcoin or Ethereum and exchanging it for SALT on a cryptocurrency exchange. Coinbase is the best place to purchase Ethereum since the transaction times are quicker. However, you can’t go wrong with grandpa Bitcoin.
Coinbase’s quickest method to purchase Bitcoin or Ethereum
If you want to purchase Ethereum and Bitcoin on Coinbase with the lowest costs possible, check out our Coinbase tutorial. It does, however, take a little longer since you must move your money to Coinbase’s sibling exchange GDAX and purchase your bitcoin there instead. We strongly advise you to use GDAX to save money.
Proceed to the following step after you have your ETH or BTC in your Coinbase account.
How to Create a SALT Wallet
SALT is a coin that uses the ERC-20 standard. This indicates that it is based on the Ethereum blockchain and may be used with Ethereum wallets. We suggest using MyEtherWallet, the most popular Ethereum wallet. It’s totally unrestricted.
SALT tokens may be seen in the ‘View Wallet details’ area of your MyEtherWallet after it has been set up. To see all tokens, choose ‘Show All Tokens.’
You may check your balance by scrolling down the tokens until you find SALT.
In the Safest Possible Way of Storing
MyEtherWallet is a fantastic place to save your SALT. Some of you, on the other hand, will be looking for the finest security money can buy. Combining MyEtherWallet with a hardware wallet is currently the most safe method.
Why use a hardware wallet in the first place, and how is it more secure? Hardware wallets maintain track of your private keys and protect them against keyloggers and phishing scams. In fact, you won’t even know your private key if you use a hardware wallet, making it almost impossible for it to be disclosed to the outside world. Unfortunately, bitcoin is becoming a more appealing target for hackers. As a result, investing in additional security for your tokens may be a good option.
SALT is compatible with two of the most popular hardware wallets on the market since it is an ERC-20 coin. Both Trezor and Ledger come highly recommended by us. Both are really used by us.
If you’re still undecided, read our comparison of the Ledger and the Trezor.
94.80 € (including European tax and free shipping)
Do you need assistance setting up your Ledger? Take a look at our step-by-step instructions.
128.26 Euros (including European tax and shipping)
Do you need assistance setting up your Trezor? Take a look at our step-by-step instructions.
Take a few minutes to read our tutorial if you need assistance connecting your Trezor or Ledger with Myetherwallet.
Register for a Binance account.
To buy SALT, you’ll have to exchange your Bitcoin or Ethereum for it. Sure, you could go to a random exchange and attempt to purchase SALT, but you could up up waiting a long time for your order to be completed. Binance accounts for almost all of the project’s trading volume. At TC, we believe Binance is the finest cryptocurrency exchange available.
Facts about Binance:
- The World’s Largest Crypto-to-Crypto Exchange: Binance is the world’s largest crypto-to-crypto exchange!
- Binance has a huge selection of cryptocurrencies. You can get your hands on over 100 different cryptocurrencies. One of them is Ripple.
- Friendly to the user: The crypto-to-crypto trade is the most straightforward we’ve ever encountered. We believe that this is one of the major reasons behind Binance’s rapid rise.
- Customer Assistance: Binance provides email support in many languages for????????
SALT is available for purchase on the world’s biggest crypto-to-crypto exchange.
Do you need assistance with creating a Binance account? Take a look at our Binance guide.
How to Move Bitcoin or Ethereum from Coinbase to Binance
So, you’ve got your Binance account set up. You must transfer your Crypto to Binance in order to exchange it for SALT, whether you have money on Coinbase or in another wallet.
Binance
- Go to your Binance account and log in.
- Click “Deposit” after selecting “Funds.”
- If you have Ethereum on Coinbase, be sure you choose it, or Bitcoin if you have BTC. If you transfer money to the incorrect wallet, you risk losing it!
- Then you’ll see your Binance deposit address. Simply copy and paste this URL. As an example, we’ve utilized Bitcoin.
Coinbase
- Go to Coinbase’s ‘Accounts’ page after logging in.
- Select the coin you want to send and press the send button.
- In the ‘Recipient’ wallet address box, paste your Binance deposit address and the amount you wish to withdraw.
- Continue to complete the transaction. Your Bitcoin and Ethereum should appear in your Binance account within a few minutes.
Do You Have Crypto in a Different Wallet?
- Simply transfer your cryptocurrency to your Binance account.
On Binance, how do you convert your BTC or ETH into SALT?
Your Binance account should now have some Bitcoin or Ethereum in it. It’s now time to get some SALT in your hands.
- If you have Bitcoin on Binance, go to the homepage and choose ‘BTC Markets’, or ‘ETH Markets’ if you have Ethereum. Then, in the search box, type SALT and choose the SALT/ETH or SALT/BTC market.
- After then, you’ll see a trade screen. It may seem complicated at first sight, but don’t be put off; it’s really not that tough. Simply go to the ‘Market’ tab (this enables you to buy at the market price). Then just input the quantity of SALT you want to purchase. You can also use the percentage buttons to purchase crypto with a certain proportion of your Bianance balance.
- Your purchase will be completed and your SALT will be deposited to your Binance account after you click “Buy.”
What Is The Best Way To Send SALT From Binance To MyEtherWallet?
So, you’ve got your SALT on Binance and your MyEtherWallet all set up. The next step is to get your tokens from the exchange. What makes you think this is a good idea? Simply said, if your crypto is in a wallet that you own and have the private key for, you have full control over it. As bitcoin values increase, hackers will increasingly target cryptocurrency exchanges.
- Copy your public address from your Ethereum wallet.
- Binance may be accessed by logging in.
- Go to ‘Funds’ and choose the ‘Withdrawals’ option.
- Select SALT from the dropdown menu, then put your Ethereum public wallet address and the amount you wish to withdraw into the appropriate fields.
- Simply click “Submit” to get your SALT transferred to your Ethereum wallet.
? Top Tip: Check the withdrawal cost here before you withdraw!
Conclusion
So now you know how to get SALT the simplest method possible. It is entirely up to you whether or not you invest in the project and how you do so. The Total Crypto Team will be keeping a close eye on the SALT project, and we’re eager to watch how it grows and gains traction.
For the time being, be safe and may all of your cryptos shine!
Visit TotalCrypto.io for more information.
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DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.
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