Place/Date: - July 21st, 2021 at 9:46 am UTC · 4 min read
Contact: Kendra Staggs, Source: SALT
SALT has announced the waitlist for the SALT Card, its new credit card product, is now open. Better yet, as the company is actively designing the card, it’s allowing potential customers to share their thoughts and input on everything from material to style. If you want to weigh in and share your ideas with SALT’s product team, you can do so here.
The SALT Card is the first crypto credit card that lets you use your crypto to buy anything — from large purchases like vacations to everyday purchases like coffee and groceries – without selling or spending any of your crypto.
CEO Justin English said:
“Unlike other cards on the market that encourage you to spend your crypto, we designed the SALT Card to be just the opposite. It’s designed to help our customers HODL their assets and earn crypto rewards with every purchase so they can build wealth and grow their portfolios simply by living their everyday lives.”
What makes the SALT Card so different from traditional credit cards is that it’s powered by your crypto, not your credit score. Instead, your crypto is your credit. This means SALT won’t ask for your credit score or do a credit check because your digital assets will secure your line of credit and determine your credit limit.
With its new card product, SALT is aiming to fundamentally change the way people think about wealth.
“Historically, financial success has hinged on this archaic idea of building credit, which is completely counterproductive because we’re taught that you have to spend money to borrow money and it becomes this endless toxic cycle, ” said English. “By taking the idea of the traditional credit card, removing the credit score element, and swapping it out for a credit line secured by crypto, we’re empowering people to transition from this idea of building credit to building wealth.”
Rather than promoting the counterintuitive idea that to succeed financially and build credit one must simultaneously accumulate debt, borrow money, and set some aside for savings, SALT wants to empower its customers by offering products that encourage them to think instead about how to generate long-term wealth. The SALT Card is designed to do exactly that.
While SALT does not yet have a card issuing partner, the company is in talks with various partners and has a strong vision for its card product. Once SALT has a partner on board, the company will be able to finalize the card rewards and any additional benefits. So what makes the SALT Card stand out from other crypto cards on the market?
While the SALT Card is secured by your crypto assets, it’s different from a crypto-backed loan in that you can choose to borrow only what you need, and you only pay interest on an existing balance. Like a traditional credit card, if you pay the balance off each month, you won’t owe any interest. Plus, by having a physical SALT Card, you will be able to use it in the same places and for the same purposes as the other credit cards in your wallet.
Join the waitlist today to receive the latest updates in the development of the SALT Card.
Please note that by joining the waitlist you agree to receive marketing communications from SALT. The waitlist does not guarantee that you will receive a SALT Card. The SALT Card will be subject to eligibility requirements, including geographic and suitability limitations. Fees and terms are not final and are subject to change at any time in SALT’s sole discretion.
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