This article is meant to spark your interest in a project that seeks to make cryptocurrency trading simple and fast, my desire is that, at the end of this article you would have so much reasons to believe in what TAP is trying to achieve. if after reading this article you want more information or get involve with the project I would suggest you read their whitepaper or visit their website Here goes the list.
1.TAP is Meta exchange platform that guarantees simple and fast cryptocurrency trading across many other exchange platform
Tap is a trading platform, which gives an investor complete access to multiple exchanges with just a single account. With tap an investor can do the following
- Exchange any alternative crypto currency without having to move funds from one exchange to another
- All your crypto assets are kept in one safe place that you can view anytime
- Find the absolute best market price instantly on your phone
2. TAP is going to solve the problem that is limiting the usage of cryptocurrency as a method of payment
Currently, most vendors don't accept cryptocurrency as a means of payment because of the following reasons:
- There is a cost involved with converting crypto currency to FIAT.
- The vendor would need additional point of sale equipment which is unlikely to justify the cost.
- Cryptocurrencies are not not steady making accepting crypto risky for the vendor, in oder to use cryptocurrencies as a means of payments the world needs to instantly convert any crypto currency to FIAT and transfer that FIAT at the point of sale via a TAP card. TAP provides this service.
3. TAP is a platform that is design for everybody regardless of cryptocurrency experience
Tap is a platform for all kind of cryptocurrency enthusiast regardless of their experience. With TAP, after a simple registration and KYC process, a new investor can fund their account. Once funded they can buy any supported cryptocurrency at spot rate for a maximum fee of 1.5% through the app. it goes beyond new investors, familiar investor, crypto adopter as well as international travelers can make use of the platform
4. TAP uses a middleware that connect different exchange platform and it also allows seamless cryptocurrency trading
Tap uses an app that serves as an interface to their platform.
5. TAP ensures high security.
TAP keeps all customer assets in offline/cold storage behind a multi-signatory wallet with the highest grade security. This gives customers peace of mind that their assets are secure. Transactions are run through the hot wallets / liquidity pool, with funds adjusted in the customer’s cold storage account to return funds to the liquidity pool.
6. TAP is very transparent when it comes to charges, there is no hidden charges
The fee for any crypto transaction will be between 0.5% and 1.5% depending on type of transaction. Users can pay the fee in TAP tokens, and doing that will give the user a 25% discount on the transaction fee.
A customer will be charged a fee if they perform any of the following tasks:
- Buy a crypto asset with FIAT from their account
- Buy a crypto asset with another crypto asset
- Make a purchase on their card where a crypto asset is used to fund the purchase.
7. TAP's token is securely anchored to the success of the project
The value of Tap's token will be anchored to these three features:
- TAP token can be used to pay transaction/exchange fees and receive a 25% discount. This will encourage users to hold a stock of TAP in their wallet thereby benefiting from reduced fees.
- Stake TAP for higher card level and better user terms. Staking is when you freeze tokens for a set amount of time. During this time, those tokens can’t be used or withdrawn until the staking period is complete
- Monthly TAP token burning. Each month, 10% of the profits created by the TAP project will go into burning TAP tokens. This will permanently reduce the total supply of tokens putting upward pressure on the token value.
8. TAP offers a Card and it comes in different categories and it is for everyone
With Tap cards users can make payment for goods and services and it comes in three different categories.
Free TAP card (available to everyone)
- Plastic contactless pre-paid card
- £1000 free FIAT FX exchange (0.5% after)
- £500 free ATM withdrawals (2% after)
- 0.5-1.5% crypto exchange fees (25% discount if fees are paid with TAP)
TAP black card if the user stakes 10,000 TAP tokens for 6 months
- Black contactless pre-paid card
- £3000 free FIAT FX exchange (0.5% after)
- £1000 free ATM withdrawals (2% after)
- 25% discount on crypto exchange fees of 0.5-1.5% (increasing to 50% if fees are paid with TAP)
Titanium TAP card if the user stakes 50,000 TAP tokens for 6 months
- Titanium chip and pin metal card with TAP plastic contactless pre-paid card
- Unlimited FIAT FX exchange
- Unlimited withdrawals at ATMs
- Cost price crypto exchange fees
9. In TAP’s user-friendly app the user will be able to do the following.
- See their FIAT and Crypto balances
- Determine which of their currencies they use to make TAP card payments.
- Instantly buy any supported crypto at the touch of a button for a low commission.
- Exchange any currency (FIAT or crypto) for another currency (FIAT or crypto) instantly at the touch of a button.
- Instantaneously send any crypto (or FIAT) to another TAP user for free.
- Stake their TAP to gain a better card.
- See their virtual card details and make online purchases.
- Choose when to lock/unlock their TAP card and change their PIN
- Access other security features like changing their PIN, turning on location security so that their card can only be used in close proximity to their phone, etc.
10. TAP is built to stay ahead of it competitions.
TAP wants to achieve the following features to achieve mass market adoption:
- Allow easy on-boarding with FIAT for the purchase of cryptocurrencies.
- No requirement for merchant opt-in (where a merchant needs to change their current method of taking payments to accommodate the project).
- Ability to spend any supported cryptocurrency.
- Provide a physical card for point of sale payments and ATM withdrawals.
More information about TAP project is available at below sites –
Website: http://www.tapngo.io
Telegram: http://t.me/tapngoofficial
Medium: https://medium.com/@tapngo.social
Reddit: https://www.reddit.com/r/TAP_Official/
Twitter: https://twitter.com/tapofficial1