Looking for the best SALT alternative? Open a Ledn account and see for yourself why Ledn is the best.
Both Ledn and SALT are cryptocurrency lending platforms, offering users the ability to use their digital assets as collateral for loans.
However, there are several key differences between the two.
Unlike SALT, Ledn has an unblemished record of never pausing client withdrawals.
Ledn offers competitive lending and saving rates without hidden fees, in contrast to SALT’s potential reliance on fees tied to loan liquidations and market volatility.
While SALT supports a wide range of currencies, Ledn’s focus on only highly regarded assets in the industry (BTC, USDC, USDT, and ETH) provides users with a more targeted and potentially less volatile asset selection. SALT offers its own native token, but Ledn does not.
Ledn offers the ability to generate interest for digital asset holders via its Growth accounts, a feature not available on SALT’s loan-focused platform.
Ledn prioritizes asset security with world-class protocols, AES-256 encryption, 2FA activation, and storage through qualified custodians, like BitGo.
Proven Track Record
SALT halted withdrawals in November 2022, in connection with FTX’s bankruptcy. Users with Earn products and loan collateral on SALT couldn’t access funds temporarily due to funds kept on FTX. Ledn has never paused client withdrawals.
Ledn is transparent. They were the first digital asset lending company in the crypto industry to complete a Proof-of-Reserves. By providing these biannual attestations with a Certified Public Accountant, who works independently from the company, clients can confirm their balance is accounted for. Ledn also issues monthly Open Book Reports which provide insight into how assets are being utilized to generate interest on its Growth Accounts and lower its Loan interest rates. Read Less
Clear Rate Structure
SALT’s attractively low APR is overshadowed by a 5% stabilization fee and 1% re-entry fee during volatile downturns. Ledn offers clear and attractive lending and saving rates. There are no hidden fees.
Ledn is transparent. They were the first digital asset lending company in the crypto industry to complete a Proof-of-Reserves. By providing these biannual attestations with a Certified Public Accountant, who works independently from the company, clients can confirm their balance is accounted for. Ledn also issues monthly Open Book Reports which provide insight into how assets are being utilized to generate interest on its Growth Accounts and lower its Loan interest rates. Read Less
Supported Currencies
SALT supports a wide variety of currencies. While this gives borrowers more options, it may put client assets and platform at greater risk of volatility. Celsius, BlockFi, and many of the other now defunct lending platforms did just that. Ledn supports only the most highly regarded assets in the industry: BTC, USDC, USDT, and ETH.
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Yield
Ledn offers the ability to generate interest for digital asset holders via its Growth accounts, a feature not available on SALT’s loan-focused platform. At Ledn, you have the ability to save and borrow.
Ledn’s risk management and rigorous due diligence processes ensure that they only work with high-quality institutions and reliable assets. Any counterparty lending is matched on both maturity and assets. Ledn supports only the most liquid assets in the industry BTC and USDC, and expects to add ETH and USDT soon.Read Less
Ledn is making crypto lending and saving easier and more accessible than ever before.
Ledn prioritizes digital asset security through advanced protocols, including AES-256 encryption and 2FA activation. It partners with custodians, like BitGo, for asset storage.
It was the first crypto lending firm to complete a Proof-of-Reserves audited by an independent CPA, confirming user balances.
Rigorous risk management and due diligence ensure collaboration with high-quality institutions, aligned in terms and assets.
Ledn supports only the most highly regarded assets in the industry (BTC, USDC, USDT, and ETH), with thorough due diligence enabling viable lending and savings globally.
The numbers don’t lie.
Although SALT offers an attractively low APR, it charges a 5% fee to stabilize loans in high volatility downturns. It then charges another 1% fee to re-enter the market. The platform could be seen to rely on loan liquidations and market volatility to pay fee revenues on loans.
SALT’s high LTV loans are the only ones with a flat rate curve. The probability of a volatility event in crypto liquidating a 70% LTV loan is very high over the course of the term.
In contrast, Ledn offers competitive but realistic lending and saving rates for its range of products, including savings accounts and lending services.
You can’t save, or generate yield with SALT. They’re just a loan platform.
Ledn works with vetted institutional market makers to generate yield for its Growth account holders. Each Growth Account is ring-fenced, you’re only exposed to the counterparties that generate your yield. You’re protected from any Ledn insolvency risk. In the unlikely event Ledn goes bankrupt, your assets are safe.
Grow your assets with Ledn while knowing you’re benefiting from industry leading safeguards.
The Ledn difference lies in its commitment to transparency and security.
It has never paused client withdrawals. Users can expect reliable access to their assets. Its clear rate structure ensures borrowers and savers know exactly what to expect, without hidden fees.
Supported by robust risk management and stringent due diligence, Ledn prioritizes asset security and protection. Ledn’s approach to generating yield through partnerships with institutional market makers helps users to safely make the most of their digital assets.
“I had the opportunity and good fortune to meet Mauricio Di Bartolomeo and Mr. John Glover in their amazing offices in Toronto. Once again, I received confirmation that my choices of where to place my trust and investments have proven to be correct. I am particularly pleased to have had the opportunity to exchange important words with them about the new products that are coming. Thank you again.”
JB
John Bishop •
With Ledn about three years. So far so good. Its very hard to trust any central cypto entity these days after all the scams. But I view Ledn is solid bet for a portion of your crypto. Recently took out a dollar loan to pay off credit card without any issues.
LC
Ledn customer •
Talking to the representative. Getting the help I need from them. That made me very happy. I was very thankful and grateful for it. Therefore, I was able to change my password and unlock my account. Thank You.
KA
Krishni Aranwela •
After a couple years of using Ledn, I had nothing but good experiences with them, but nonetheless during the craziness of early 2023 (FTX, etc.) I stopped using their services because I did not have a clear idea of "where does the yield come from?" Then recently I was happy to see that they are addressing that question very thoroughly with a series of monthly posts showing exactly where the yield comes from. I was happy to replenish a USDC saving account with them.
CK
Chris Kapilla •
I think the service offer that Lend brings to the Crypto market is very good. They have a very interesting, well chosen blend of financial products that are very attractive.
The customer service is very professional and fast. The user experience is extreamly easy, but at the same time it offers all the important information about each product, with full transparency. The seem to be well backed-up, as the the navigated with success through different recent crypto-storms. Very recommended
JO
Jorge •
My experience was great ! I had a good experience because I had to first get to know how the website worked. I had got to know how the website worked at first by exploring it for the first time. This second time it worked like a charm. I figured out everything. On my own … ! How the loans work etc. but I need kyc verification first. So I have to work with that, etc. … .Overall, Ledn.com is a great experience for me. I would suggest anyone taking or looking for a short term loan, look no further. Everything is right here… . Thanks !
KA
Krishni Aranwela •
I am very happy with my decision to use Ledn for several Bitcoin backed loans. You can trust that Ledn will keep your assets safe with their proof of reserve business model. If you're looking for a strong finanical partner that goes above and beyond in their customer service, look no further than Ledn.
C
Clarke DB •
Been with Ledn for over 3 years. Went through the several market crashes together and entities falling down. Ledn didnt get a scratch! That says something about their risk profile.
C
Clarke DB •
What is SALT Lending?
Is SALT Lending Safe?
