Apprendre avec le sourire

This year has proved to be an exciting one for the crypto adopters, with markets taking turns playing out to bulls’ and bears’ delights. Bitcoin crossed the $66,000 mark for the first time in history, and with that, a new data trend has emerged which has shone a light on a significant gap in the market.

Here we explore the vast potential of the integration of the corporate market into the crypto industry. Recent data has exposed the large gap between crypto trading taking place on major exchanges. It has been discovered that there is little trading activity between the retail or institutional type of trader, setting two extremes: retail investors trade hundreds to several thousands of dollars while institutional investors trade millions.

In other markets, this range is generally made up of family offices ,mid-to-large corporations, or high-net-worth individuals. However, in the crypto space it appears that navigating the $100,000–$500,000 trading bracket is not as common.

‍

An Overview of the ever-expanding cryptocurrency market

According to a study conducted by Chainalysis, cryptocurrencies usage across the globe increased by 880% when compared to that of last year. Meanwhile, experts forecast that this number is likely to increase. In 2021, major companies across many industries have taken an interest or invested in cryptocurrency and blockchain.

Cryptocurrencies are becoming increasingly popular, especially among institutions. This demonstrates that interest is no longer restricted to individual crypto aficionado traders. Large financial firms like BlackRock and Goldman Sachs have invested in cryptocurrencies, showing the potential of this asset class.

Bitcoin and Ethereum have grown popular and should be perceived as a positive development as it is a necessary step for cryptocurrencies to achieve widespread adoption. Some experts predict that more large, multinational businesses will accelerate the adoption of blockchain technology in the coming months.

Accepting cryptocurrencies as payment is something to consider if you run a business. As cryptocurrency adoption grows, so is the number of merchants who accept it.

‍

Bridging the gap

Several reasons why this corporate market is yet to engage in cryptocurrencies is believed to be due to the lack of trusted liquidity providers, reasonable pricing, banking partners or secure technology. If your company is interested in opening a corporate account enabling your business to accept crypto payment, transfer, billing, and trading, Tap can assist your venture getting started with cryptocurrencies.

Bridging the gap, Tap is launching a new service that will provide crypto exposure to this mid-range market through its trusted and verified mobile app. The new Corporate Account will provide specialised B2B services catered directly to companies looking to enter the world of cryptocurrencies.

Through these services, companies will be able to make and receive payments in the supported crypto and fiat currencies, enjoy reduced transaction fees through the native token XTP, as well as earn interest through the Earn feature. While the B2C market has become somewhat saturated, Tap Global has taken aim at the B2B market, providing an early entry, alongside transparent pricing, for corporate companies into the crypto sphere. 

As the financial landscape continues developing at a rapid pace, the app serves to provide an early and seamless approach to the future of payments that we are fast approaching. 

‍

From “Risky Investment” to global reserve

While Bitcoin hasn’t entirely evolved into a global reserve currency (yet), it has undoubtedly emerged from the speculative asset it was considered to be just several years ago. As crypto continues to break into new markets, the corporate market is growing in interest at a steady pace and seeking a way to integrate crypto payment and investments into their businesses.

With a range of reliable and tech-forward products on the market, there is little doubt that the rate of crypto adoption will continue to grow. While Tap provides a space for early adopters and high-net-worth investors, the company also opens its doors to a wide range of individuals and corporations, no matter where on the scale of net-worth or transaction volume they might sit.

As the Emerging Payments Awards enters its 14th year, the prestigious awards programme has released the finalists across several categories. Designed to celebrate innovation and collaboration within the UK payments industry, the awards are well respected in the industry and provide an accolade of achievement to the recipients. 

This year, Tap Global has been recognised for several awards based on contributions we’ve made to the industry including the benefits we provide to end-users, our innovative features and the proven evidence of our success in the market. Tap has been shortlisted for three awards falling across the categories outlined below, winners will be announced in October 2021:

• Best B2C Payments Programme
• Best Use of Crypto in Financial Services
• Leading Financial Services or Payments Start-Up
  

All nominations are based on the companies’ contribution to the payments industry and illustrate a significant impact they have made when it comes to supporting and providing payment solutions to both consumers and businesses. Nominations are chosen by an independent panel of 58 judges, with this year’s panel including the likes of:

• Anna Maj FinTech Leader, Senior Advisor at Truffle Capital and Senior Lecturer at CFTE
• Jill Docherty, Business Development, UK & Ireland, Visa
• Martha Mghendi-Fishe, Founder & Executive Board Chair, EWPN
• Mark Walker, Co-founder & COO Editorial Director of The Fintech Power 50 and The Fintech Times
• Joanne Dewar, CEO of Global Processing Services
• Nikki Evans, CEO of EMEA and EML
  

“It’s an honour to be shortlisted for this award which further recognizes the added value Tap brings to market and the benefits for our end-users. None of this would have been achievable without the hard work of our teams and the support of our partners”, says David Carr, CEO of Tap Global.

As one of the first companies to launch a crypto prepaid payment card in the EU in 2020, our cryptocurrency-to-fiat prepaid Mastercard and smartphone app allows users to navigate the crypto markets with ease, confidence and certainty. 

The intricately designed backend includes proprietary AI middleware that connects the Tap app to multiple exchanges, automatically validating available liquidity and selecting the most competitive prices, while executing trades in a matter of seconds. With the technology, users are able to convert crypto to fiat instantly, providing the convenience of using the Tap Card to pay for goods and services or at ATMs anywhere that Mastercard is accepted. 

Through the Tap app users can manage their crypto and fiat portfolios, securely send and receive supported crypto and fiat currencies, view their transaction history, manage their card and even view their PIN. While the Tap card (across three account levels) offers users full EEA coverage, a named EUR IBAN and/or GBP Sort Code and Account Number, as well as secure, offline, cold storage behind a multi-signature wallet. Together the Tap app and card create a fully integrated crypto-to-fiat ecosystem.

Adding to the excitement, Kriya Patel, CEO at Transact Payments, a partner of Tap’s, added that, “The EPA awards are some of the most prestigious awards in our industry recognising companies that are making a real difference in driving innovation in payments. We’re delighted to be working with Tap Global and being shortlisted for this award.”

When new to the industry, deciphering whether to invest in Bitcoin or a range of altcoins can be a tough decision. We’re here to sort this out in one quick personality quiz, pointing you in the direction of which crypto is best suited to your needs. 

Choose option A or option B from the questions below and tally them up to find your answer at the end. ‍

What are your investment goals? 

A) You're tired of traditional investments and want a new simple and innovative way to invest. You're a long-term thinker with a no-nonsense strategy and will stick to your guns. 

B) You’re not scared of risk and are looking for investments to actively trade. You like the idea of long term returns, but are happy to do your research and play the market.

‍

What does your ideal lifestyle look like?

A) You're interested in maximizing your wealth so that you can live a happy life while you still can. You want to invest on your own terms and tap into these advantages without stress.

B) You're eager to learn more and be on the cutting edge of technology and all the endless possibilities and advancements it possesses. It's not just about material wealth for you, it's also about the community and opportunities to learn more about cryptocurrency and investing.

‍

What are your thoughts on cryptocurrencies' place in the world?

A) You believe crypto will have a more significant role in the future, and you don't want to be left behind. You're looking for an investment with comparable growth potential, as well as industry-leading performance.

B) You believe that cryptocurrencies are essential for future-proofing your money, and you're eager to learn at your own pace. You're more interested in a diverse cryptocurrency portfolio than in established coins.

‍

Are you a solo effort or a group project?

A) You are a self-starter who isn't afraid to follow your own path in life. You're comfortable collaborating with people who share your goals. You want something that is distinct from the rest and does not require any assistance to develop.

B) You're a sociable individual that thrives in a group. You're looking for something exciting that is both innovative and solution-driven. When it comes to progress, you think collaboration and experimentation are essential.

‍

Results

If you chose mostly “A”:

You're Bitcoin. You're searching for a simple and secure method to grow your wealth, and you want an asset with the highest market value and valuation to assist you. If you want a deflationary, bank-busting store of value, Bitcoin may be your hidden weapon.

If you chose mostly “B”:

You're altcoins. You want a versatile investment that you can leave alone or put to good use as you get more comfortable with cryptocurrency. You may see yourself exploring new ways to generate passive income or even creating your own projects. Variety and staying at the forefront of cryptocurrency initiatives pique your interest. 

If you’re straight down the middle:

Why not enjoy the best of both worlds? A diversified portfolio consisting of both Bitcoin and altcoins is just as likely to be successful, interesting and up your alley. 
‍

Disclaimer: This article is intended for communication purposes only, you should not consider any such information, opinions or other material as financial advice. The information herein does not constitute an offer to sell or the solicitation to purchase/invest in any crypto assets and is not to be taken as a recommendation that any particular investment or trading approach is appropriate for any specific person. There is a possibility of risk in investing in crypto assets and investors are exposed to fluctuations in the crypto asset market. This communication should be read in conjunction with Tap’s Terms and Conditions.

‍

With over 425 million cryptocurrency users worldwide, growing 8,000% since just 5 million users in 2016, cryptocurrencies are transforming how businesses operate in today's digital world. This article explores the numerous benefits crypto accounts provide companies, regardless of their size or industry. 

From reducing costs through lower fees to enabling smooth cross-border payments, they open up new opportunities. Below we also examine the potential of smart contracts and blockchain technology to streamline processes, heighten security, and minimise fraud risks. Let’s explore how embracing crypto can propel your business to the forefront of technological innovation.

Why businesses are using crypto accounts

Although investment opportunities and value growth associated with cryptocurrencies have garnered substantial media attention, far less coverage has been dedicated to the benefits that cryptocurrencies offer businesses. This aspect of cryptocurrencies is perhaps poised to be the most dynamic and exciting area for development and growth moving forward.

Below we explore the numerous advantages that crypto can offer businesses, more so through dedicated crypto accounts. These accounts minimise overhead costs by offering lower transaction fees compared to traditional methods. They also facilitate easy access to high-yield investment assets, enabling portfolio diversification and potential substantial returns. Another advantage of crypto business accounts is that they can streamline cross-border payments by eliminating intermediaries, benefiting companies operating globally.

The decentralised nature of cryptocurrencies also enhances security and transparency through blockchain's immutable ledger, mitigating fraud risks. As adoption continues growing, having a crypto business account allows companies to capitalise on these benefits. It gives them a competitive edge, unlocks growth opportunities, and positions them at the forefront of this technological revolution while maximising profits.

• 46% of merchants in a recent survey say that they have integrated cryptocurrency payments into their accepted payment methods.
• The primary reason cited by 82% of surveyed merchants for accepting crypto as a payment method is its elimination of middlemen.
• B2B cross-border crypto payments are expected to reach $56 trillion by 2030, fueled by growth in big companies and small businesses alike, along with the rise in digitization.

As ownership increases, more businesses are accepting crypto payments than ever before

• The countries leading in crypto ownership are India, China, and the United States, ranking as the top three, while countries experiencing significant inflation or financial turmoil, like Turkey and Argentina, exhibit higher rates of crypto ownership compared to other countries of similar economies. 
• According to data from TripleA, 7.23% of the population in India, 4.08% in China, 13.22% in the U.S., 20% in Vietnam and 6.40% of the population in Pakistan own cryptocurrency, with just the top 5 countries counting for 242,166,772 crypto holders. 
• As of September 2023, 15,174 businesses worldwide accept Bitcoin, with around 2,300 of those businesses operating in the US.
• The leading sectors embracing Bitcoin include Gambling, Tourism, Banking, Food, and Retail industries.
• According to a recent Juniper Research report, the adoption of blockchain for cross-border settlement is projected to generate substantial cost reductions for banks, soaring from $301 million in 2021 to $10 billion by 2030.
• There are over 37,000 crypto ATMs worldwide, making it easier to use crypto payments for everyday purchases.

The future of crypto salaries

As crypto payments become more commonplace, both employees and employers are recognizing the benefits of being paid and paying in cryptocurrencies. 

For employees, receiving salaries in crypto provides an opportunity to diversify their investment portfolio and potentially earn higher returns. It also facilitates seamless cross-border transactions, which is particularly advantageous for remote workers. 

On the other hand, employers can reduce administrative costs associated with traditional payroll systems and currency conversions by paying in crypto. Moreover, crypto payments ensure transparency and security through blockchain technology, mitigating the risk of fraud or disputes. With the growing adoption of cryptocurrencies, crypto-based salaries are emerging as an attractive option that offers advantages for businesses and their workforce alike.

• A recent survey found that over 40% of employees would consider having part or all of their salary paid in crypto.
• Stablecoins ensure the stability of wages paid in crypto, making it far more accessible and popular than ever before.
• The stablecoin market has a market cap of $148.7 billion at the time of writing. 
  

Businesses and smart contracts

Smart contracts are digital contracts built using blockchain technology that automatically execute when the predetermined criteria have been met. With the instantaneous and low-cost nature of crypto transactions, along with the potential for highly secure 'smart contracts', blockchain technology can be used to minimise fraud and legal disputes arising from business contracts. 

Below we look at several examples of how large corporations are implementing blockchain technology and smart contracts:

Walmart employs blockchain technology and smart contracts to develop an advanced platform for tracing the supply chain of food products. Their goal is to reduce waste and enhance food safety standards.

JPMorgan Chase pioneers the Quorum platform, revolutionising the blockchain industry by enabling companies to create and implement smart contracts for various purposes, including supply chain management and financial transactions.

Maersk, a global shipping giant, introduces TradeLens, a blockchain platform aimed at transforming their supply chain processes. Through smart contracts and automation, they enhance efficiency and optimise costs throughout the entire process.

Microsoft introduces the Azure Blockchain Workbench, empowering companies to develop and deploy smart contracts across diverse blockchain technologies.

IBM has launched IBM Blockchain, a groundbreaking platform enabling companies to create and execute intelligent agreements for applications like inventory management and digital identity verification.

• The smart contracts market size is expected to increase from $2.2 billion in 2023 to $8.79 billion in 2030, largely fueled by the growth of dapps (decentralised applications).
  

Crypto payments are the future for businesses

As crypto payments become more widely accepted and useful on a day-to-day basis for ordinary consumers, more and more employees are interested in being paid in crypto, which can have significant advantages for both them and their employers.

Similarly, for businesses involved in hiring remote workers in other countries, using crypto payments can reduce the tax and administrative burden of paying their wages while also ensuring more of their pay ends up in their pockets rather than in a bank’s annual profit statement. 

Finally, the potential for smart contracts to revolutionise cross-border trade is only now beginning to be realised, meaning there truly has never been a better time for businesses of all sizes to explore how cryptocurrencies can help fuel their growth in 2024 and beyond.

‍

‍

Bitcoin has become a household name around the world, for very good reasons. The same way gold became the standard of currency, bitcoin is doing the same. With the rise of gold, we also saw a gold rush, as people flocked to the mines to find every flake of gold they could. Something similar is happening to bitcoin right now as the cryptocurrency mining rush has begun, with the world hiking up their ASIC miners to process as fast as possible.

Especially with talk of Elon Musk considering reinstating Bitcoin payments once the carbon emissions and energy consumption associated with bitcoin mining are decreased. But why the sudden rush? it is not just another bubble, it is about global economic sustainability and excelling cryptocurrencies. 

Where is the Bitcoin mining rush happening?

Although the whole world may be captivated by the potential of cryptocurrency, China has always been a top contender for miners. Despite the repeat FUD spreading around China and its acceptance of digital currency, China bitcoin mining once accounted for more than 70% of mining power. But this summer's sweeping crackdown in China has greatly increased profits for miners outside of the world's second-largest economy, with counties such as the USA, Russia, and Iran making up for lost blocks. These regulations won’t stop Chinese miners from doing what they need, they just may no longer be doing it within the borders of China. 

It was 2 months ago that Beijing made moves to crack down on cryptocurrency. One of the steps was halting the supply of power to bitcoin farms, giving Chinese miners no choice but to pack their bags for more crypto-friendly countries. Chinese researchers express data portraying excess use of electricity consumption, especially in these stressful times. 

What is Chinas’ issue with digital currency mining?

China has had numerous issues with cryptocurrencies over the years, first stating they didn’t want their economic wealth flooding into a global currency. They have potentially solved this problem as they announce their own digital currency created by a group of specialist. China’s digital currency, the digital yuan, is controlled by its central bank which will issue the new currency. Now they may have created a digital form of currency, but it is nowhere near cryptocurrency, aside from some computational comparisons. China plans to strip away the anonymity so beloved within Blockchain, and inside track and control where their digital currency goes. Nonetheless, their first issue has been fixed, so what is their problem now?

Supposably carbon emissions and energy consumption in the country are rising, due to cryptocurrency, not the masses staying at home. Regardless of if their reasoning and intent are pure, we know carbon emission due to cryptocurrency is a very real and impending issue. This theory has been confirmed by Tesla's Elon Musk halting bitcoin payments until the carbon emission issue is resolved, rightfully so as the guy selling low carbon emission electric cars. 

What is next for Chinese miners?

Bitcoin mining is one of the most lucrative major industries in the world, yet many people don't know that Bitcoin mining generates just as much revenue as gold and silver extraction. The old Gold Rush might be waning, but Bitcoin miners are reaping the rewards of a new gold rush. The current generation shows entrepreneurial spirit unlike many before it, especially as the online era continues to expand.

They see the market and trend associated with cryptocurrency and are ensuring they are involved in as many ways as possible. From trading on an exchange, accepting bitcoin for services, or using their computer to mine crypto. Blockchain technology is proving to be a leader in so many industries, even emission avoidance, so no issue should or will stop people from accepting and collecting it. 

Renewable energy countries 

The solution to China's electricity and energy consumption issues is not to stop cryptocurrency mining altogether, but rather for miners to move to more power conscious countries. This may not be so appealing for China itself, but it is proving to be the best option for miners. Miners may take a lot of energy and computer processing, but they also run very hot.

So miners are looking for a country with a cheaper electricity cost to move to, with the added benefit of them being cold for an additional cooling process. Most countries that use renewable energy find their costs a lot lower than those that do not, this was even seen in China. Miners would run to the mountains of Sichuan, where abundant hydroelectric power made electricity services costs exceptionally cheaper per unit. 

Colder climates like Germany, Sweden, and Scotland are becoming increasingly more desirable countries of residency for crypto miners. Sweden is planning to be the world's first fossil fuel free country by the year 2040. Denmark has broken a wind power record, showing 43% of its electricity consumption being covered by wind; they also plan to be fossil fuel free by 2050.

Germany is a leader in renewable energy, and in the first half of 2018 they proved that, by producing enough renewable electricity to power every household in the country for a year. Scotland is also joining the ranks of the greatest renewable energy countries. Scotland plans to build the worlds’ largest floating wind turbine farm, as wind power can generate 98% of Scotland’s electricity needs.

These are all brilliant, and cold countries can easily fit the needs of any cryptocurrency miner, with cheaper watts and a cooler climate to cut down even more on watts. 

Risk of regulations

While the above-mentioned countries are great candidates for cryptocurrency and bitcoin mining, there are other problems to be wary of. Crypto regulations are just an issue among crypto miners, but also for exchange services. Each country has taken its own approach to enforcing cryptocurrency into its economy, but some may be trickier than others. VISAs are also another thing to take into consideration. Holiday VISAs are easily acquired, but moving your entire mining farm across borders may not be as easy.

Would you need a work VISA? A residency VISA? That is up to each miner to find out. Germany has shown positive sentiment to cryptocurrency, considering it as legal tender, and allowing institutional funds to hold up to 20% in cryptocurrency. Denmark and Scotland have also shown interest in cryptocurrencies, considering tax policies to help their native traders and the economy. Miners may be susceptible to taxation, and VISA regulations, but they do not have to worry about being in a country that wants to get rid of cryptocurrency. This alone, in addition to renewable energy, are benefits to any crypto enthusiast. 

Bettering the blockchain process

Not only does renewable energy mining save the world and miners money, but it also advances blockchain in general. Projects and people are more likely to accept cryptocurrency and Blockchain when it doesn’t have such a high economic and environmental burden. Using a terawatt of renewable energy is far more efficient and cost-effective than using electricity powered by fossil fuels and coal. With the bitcoin and cryptocurrency mining rush continuing to rally up troops, we in the community need to make conscious decisions for both cryptocurrency and our planet.

The process of excelling bitcoin and bitcoin mining starts at finding a computing process that consumes less energy. Whether the miners in China, or around the world, have this intent is not the issue, as long as the rest of the planet pushes them towards more eco-friendly options. It doesn’t start with the miners, they are simply the suppliers, its starts with what we demand, as seen by Mr. Musk. Let us make better choices for Blockchain, earth, and our national economies. 

Cryptocurrency adoption is a hot topic within the blockchain industry at the moment. Beyond regulation and government legislation around the ecosystem, the deregulated aspects of the technology, which represents its core ideology, is gaining more traction as the days go by. These are the technologies that provide the easiest way to trade cryptocurrencies.

Now let’s break that down. Without paying too much attention to what the government and regulatory agencies are saying about cryptocurrencies, innovations are springing up that are making it easy for anyone to use cryptocurrencies without complications. It is such developments that can influence the adoption of Bitcoin and cryptocurrencies, not government rules and regulations.

The above statement is not an attempt to discredit the efforts and good works of governments and regulatory agencies. The roles that they are playing is important and could help in addressing some of the issues that relate to the emerging technology.

How Are Cryptocurrencies Traded?

However, the real deal in the industry lies within the ecosystem. This is to say that the rate of adoption depends on instruments that can enable industry participants to express themselves with ease. To achieve this, trading and exchanging cryptocurrencies must be simplified and made as easy as possible.

The most common way to achieve real value with cryptocurrencies today is by using any of the available exchange platforms. To achieve this, traders often have to go through rigorous registration and onboarding processes. Even after registering, the process of executing a trade and extracting usable value involves certain steps that are not always very convenient.

Some trading processes involve multiple steps that take a lot of time to complete, while others could involve relatively huge fees, or multiple fees as the case may be. The above mentioned difficulties are some of the barriers that critics of the technologies have relied on to make negative assumptions on the future of the industry.

The change that has come for cryptocurrency today has redefined the entire process, making it as seamless as possible. In the actual sense of it, the new innovation by tap is providing the easiest way to trade cryptocurrencies and can be implemented with other existing systems without differentiation.

Where Can I Buy Altcoins?

First of all, the tap platform is a one-stop shop for a number of tradable cryptocurrencies. The platform hosts multiple  cryptocurrencies, making it unnecessary for traders to jump from one platform to another in search of particular coins or tokens.

Most cryptocurrency traders operate from single exchanges, limiting themselves to specific conditions like trading fees, even when they are not very favourable. Tap helps traders to overcome this barrier by linking to multiple exchanges at the same time. What happens is that during a trade, our middleware platform scours the major exchanges and finds the most favourable rates and fees combination for the trader. Therefore, by using tap, you are automatically connected to multiple exchanges simultaneously.

Now what else? For a lot of users, this is the ultimate game changer, as far as cryptocurrency adoption is concerned. Apart from being able to trade efficiently with the most competitive exchange rates available, you spend your cryptocurrency directly by using the tap app and tap prepaid Mastercard® . This works like any other  Mastercard and can be used anywhere in the world with a simple conversion on the app before swiping. This is the real definition of VALUE DELIVERY.

Who Can Use Tap?

These services provided by tap makes it extremely useful and suitable for all classes of cryptocurrency users.

• The beginner, who before now would need to sign up on an exchange, buy Bitcoin with fiat before taking on any other adventure in the crypto world, has been rescued from all the stress. All you need is to sign up on tap and execute all your trades directly from one spot.
• The experienced trader/investor who will normally jump between exchanges and rotate around BTC and ETH in order to purchase other altcoins has been delivered from the multiple steps and associated charges. Direct trading on tap is the final solution.
• Finally, international travel has been made easy. There is no more need to worry about international exchange rates, or carrying multiple credit or debit cards. The tap prepaid Mastercard is a universal element that will assist you exchanging value in any currency worldwide. Debit is affected on the holder’s digital wallet as Mastercard settles the transaction in the background in fiat.

The cryptocurrency industry is undergoing significant evolution and the rate of change within the industry is indeed impressive. Solutions that are enabling adoption are on the increase, and this particular innovation by tap is already delivering the easiest way to trade cryptocurrencies.

‍