No matter your travel budget, navigating ATM fees is worth your time when travelling around Europe. In this article, we’re giving you a run-through of the common charges you may face, from withdrawal and balance inquiry fees to currency conversion costs, and how to easily navigate them. 

Why do ATMs charge fees?

Wondering why ATMs charge those pesky fees? The truth is, there's a cost involved for the banks behind those convenient cash machines. They have to stock the cash, maintain the equipment, and liaise with your home bank to reconcile the transactions. Those ATM fees you see? That's how banks recoup those operational expenses, with a little profit margin added in for good measure.

Common ATM fees in Europe

When using ATMs in Europe, you'll likely encounter several common fees that can mount up fast. While less common in the UK, in countries like Germany, ATM fees can quickly add up to €4. Let’s take a look at what kinds of fees one might encounter. 

Bear in mind that the amount you'll have to pay at a European ATM depends on two main factors:

• Your home bank's fees: they may charge a withdrawal fee, typically a few euros to several dollars, every time you use an ATM abroad.
• The ATM's own fees: the bank that owns the ATM you're using may also levy its own withdrawal fee, on top of what your home bank charges.

These charges will vary depending on your bank, so be sure to check before leaving. While most banks list their ATM use charges in their terms, with some offering limited free withdrawals, others charge a flat fee per transaction, especially for out-of-network or international ATM use, so be mindful of potential fees when accessing your money abroad.

In addition to withdrawal fees, you may also encounter balance inquiry fees just for checking your account balance, as well as conversion or foreign transaction fees when using a card issued outside of the Eurozone.

Factors affecting ATM fees

The fees you'll encounter at European ATMs can vary quite a bit depending on several key factors. First, the location of the ATM makes a big difference - if it's part of your home bank's network, you'll likely pay lower (or even no) withdrawal fees. But use an out-of-network machine, and those charges can start to add up quickly.

The type of card you're using also plays a role. Debit cards generally incur fewer fees than credit cards when used for ATM withdrawals. And your home bank's specific policies on international ATM use can further impact the costs you face.

Keeping these variables in mind as you access cash abroad will help you sidestep unnecessary fees and make your travel budget stretch further.

Tips for minimising ATM fees in Europe

When navigating the ATM landscape in Europe, there are a few savvy strategies you can employ to steer clear of those ATM fees:

• Seek out a bank account that offers fee-free withdrawals - some digital-only banks provide a certain number of complimentary ATM transactions each month.
• Stick to ATMs owned and operated by banks, rather than independent machines often found in convenience stores, as those are more likely to come with added charges.
• Be strategic with your cash withdrawals - if your account allows for free branch ATM use, plan ahead and make larger, less frequent withdrawals to minimise fees. Conversely, if you have a limited number of free monthly transactions, opt for larger sums to get more mileage from those.
• Finally, minimise cash usage altogether by relying on your debit card for payments wherever possible, reserving cash for small, cash-only establishments like markets.

By employing these tactics, you can keep more of your hard-earned money in your pocket while exploring Europe.

The Tap Solution

Tap provides users within the European zone with a free prepaid crypto and fiat card that can be used anywhere in the world. Powered by Mastercard, the card links directly to the funds in the holder’s Tap app, allowing them to easily manage their money and constantly be in the know. 

With all options providing free card deposits and free in store purchases, the premium options offer impressive fees when it comes to exchanging and trading funds. When it comes to monthly ATM withdrawals, the Essential account allows free withdrawals up to €500, higher tiers offer up to €1,000, while the Prestige level provides unlimited free withdrawals before incurring charges.

Get more information about the available options when it comes to your Tap card here. 

Conclusion

In summary, being aware of European ATM fees - including withdrawal charges, balance inquiries, and currency conversion costs - is key to managing your travel budget. Research your bank's policies, locate in-network ATMs, and strategise cash withdrawals before your trip. With some smart planning, you can sidestep unnecessary fees and make the most of your time exploring Europe.

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Crypto is never short on surprises, and staying true to its word 2024 has delivered a wild new trend: PolitiFi coins. These politically-themed digital assets have managed to give the election a run for its money in terms of surprises, breaking onto the scene with an eye-popping 782.4% growth in just 8 months. 

To put that into perspective, “traditional” meme coins only managed 90.2% growth in the same time. Political views aside, one thing we can all agree on is that there is never a dull moment in the crypto space. 

What is PolitiFi?

These politically-themed meme coins draw inspiration from famous political figures and events, often in a playful or satirical way. But most of these coins are not officially linked to any real politicians. Much like other meme coins, their value is totally speculative, riding the waves of community buzz and whatever’s trending in the news.

From zero to $2.1 billion

What started as a seemingly niche intersection of politics and crypto has grown into a substantial market worth $2.1 billion as of November 2024. While this represents just 1.77% of the broader meme coin market, PolitiFi's rapid incline tells an intriguing story of how quickly new crypto categories can capture investor attention - and capital.

Politics meets blockchain

What sets PolitiFi apart is its unique responsiveness to real-world political events. For instance, when Donald Trump won the Iowa Republican caucuses in January, MAGA (TRUMP) surged 79.1% in a single day.

Continuing on this narrative, the market has shown similar sensitivity to events ranging from legal verdicts to health scares, with tokens like Jeo Boden (BODEN) and Kamala Horris (KAMA) swinging dramatically on related news. 

The Trump assassination attempt even saw MAGA (TRUMP) rally 41.2%, while Biden's COVID-19 diagnosis caused Jeo Boden to plummet 27.3%.

No jokes, just a new political ecosystem

While most PolitiFi tokens began as satire, some have evolved to serve more practical purposes. MAGA (TRUMP), for instance, channels transaction fees directly to Donald Trump's Ethereum wallet and aligned charities, creating an unconventional yet innovative intersection between cryptocurrency speculation and political fundraising.

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Is crypto a new form of political expression?

Time will tell whether PolitiFi is just another crypto trend, but for now it serves as a new way for people to engage with politics. These tokens mix financial speculation, political commentary, and grassroots fundraising, creating a space where community opinions can be quickly turned into monetary support.

As digital finance, political activism, and social commentary keep overlapping, PolitiFi coins might signal a new era of political involvement. Whether this is a short-lived trend or the start of a big shift in how we connect with political causes is still up in the air.

One thing's for sure: in the unpredictable world of crypto, surprises are the norm, and that’s exactly what makes it exciting.

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In the wild world of cryptocurrency, where fortunes are made and lost in the blink of an eye, a peculiar phenomenon has taken centre stage: meme coins. Against all odds, these digital currencies, born from internet jokes and pop culture references, have morphed into serious market players, creating a collected market cap of $48 billion at the time of writing. This represents about 2% of the total cryptocurrency market cap, a significant slice for assets often dismissed as jokes. 

A breakdown of market dominance comparing memecoins to the five biggest coins

Dogecoin alone accounts for nearly $18.8 billion of this, while Shiba Inu follows with just under $10 billion. From Dogecoin's meteoric rise, at one point surging over 12,000% in a single year, to the proliferation of Shiba Inu-themed tokens, meme coins have disrupted traditional crypto narratives. 

With daily trading volumes sometimes exceeding $1 billion for top meme coins and hundreds of meme coins traded on various exchanges, are they just a flash in the pan or do they represent a fundamental shift in how we perceive and interact with digital assets? Let's dive into the meme coin mania shaking up the crypto landscape.

The birth of meme coins: Dogecoin 

It all began in 2013 when Jackson Palmer and Billy Markus combined two of the internet's hottest trends - cryptocurrencies and memes - to create Dogecoin.

Beginning as a lighthearted response to the overly serious cryptocurrency landscape, they chose the Shiba Inu dog from the popular "Doge" meme as their mascot, perfectly capturing the whimsical spirit of their creation and the tone of the time.

Initially dismissed as a parody, Dogecoin quickly found a following among crypto enthusiasts with a sense of humour. Early adopters, drawn by the coin's lighthearted approach and low entry barrier, formed a vibrant community that would become the coin's greatest asset. Today, the original meme coin is a stable contender in the top 10 biggest cryptocurrencies by market cap. 

The meme coin explosion 

As Dogecoin's popularity increased, a new breed of cryptocurrencies emerged, each trying to capture the same taste of their meme-driven successor. The crypto market witnessed an explosion of imitators, from Shiba Inu (SHIB) to SafeMoon (SAFEMOON). Today, there were over 250 active meme coins listed on CoinMarketCap, with new ones appearing almost weekly.

These newcomers often played on popular themes: animal mascots, pop culture references, or even celebrity names. Everything from Pepe (PEPE), riding the wave of the infamous frog meme and reaching a market cap of $1.6 billion at its peak, to Garlicoin (GRLC), for the bread enthusiasts, emerged. Arguably, the market became saturated with these "utility-less" coins, and the hype often disappears as quickly as it arrives. For instance, SafeMoon saw its value plummet by over 99% from its all-time high in just two years.

Social media platforms became the battleground for meme coin supremacy, with Reddit, Twitter, and TikTok serving as launchpads for viral campaigns. To illustrate this, r/dogecoin is in the top 1% of subreddits based on size, while #dogecoin has been viewed over 8 billion times on TikTok. 

On top of this, influencers and celebrity endorsements fueled rapid price swings, turning meme coins into a phenomenon that blurred the lines between investing and entertainment. A single tweet from Elon Musk mentioning Dogecoin could cause its price to surge by up to 50% within hours, showcasing the volatile nature of these assets.

Taking it one step further, on 28 May, the celebrity meme coin trend kicked off with Caitlyn Jenner's JENNER token. The reality star's digital currency made waves, hitting a $40 million market cap within its first 24 hours, setting a new bar for star-powered crypto launches.

Riding the wave of JENNER's success, rapper Iggy Azalea introduced her Mother Iggy (MOTHER) meme coin on Solana, which initially surged but later plummeted amid market turbulence. This prompted several other personalities to do the same, with similar patterns of initial interest and then a fade out. 

Source: Coinmarketcap.com

A look at meme coins by the numbers 

Meme coins have been on a rollercoaster that would make even the most hardened crypto traders dizzy. At its peak, in May 2021, Dogecoin's market cap surpassed $82 billion, briefly overtaking established giants like Honda and Twitter. Not to be outdone, a few months later Shiba Inu’s market cap hit a mind-boggling $39 billion. 

At the time of writing, the other top meme coins include Pepe (PEPE), with a market cap of $5 billion, Dogwifhat (WIF), with a market cap of $2.5 billion, and Bonk (BONK) with a market cap of $1.9 billion. 

Trading volumes have seen days where meme coins dominated the charts, with DOGE and SHIB frequently surpassing daily volumes of $20 billion. But here's the kicker: price volatility in the meme coin world makes Bitcoin look like a stable grandpa. We're talking swings of 500% or more in mere days, fueled by tweets, Reddit posts, and the occasional Elon Musk sneeze.

The love-hate relationship with traditional finance 

Let’s go there. Traditional finance gurus have been quick to dismiss these digital upstarts as speculative bubbles, with Warren Buffett comparing them to "rat poison squared." But while the old guard scoffs, celebrities are diving in headfirst. 

There’s no denying that Elon Musk's tweets and Snoop Dogg's Shiba Inu shoutouts send Dogecoin to the moon. This star-studded carnival has regulators breaking into a cold sweat, scrambling to figure out how to pin down these slippery, meme-fueled assets. From (justified) concerns about market manipulation to fears of a crypto Wild West, meme coins are giving lawmakers more headaches than their more “useful” counterparts.

The technology behind meme coins 

Meme coins, like their "grown-up" cousins, ride on blockchain technology, ensuring transparency and decentralisation. But while Bitcoin and Ethereum are off solving world problems, meme coins are here for the party.

Many are built on existing networks, like Ethereum or Solana, saving the hassle of reinventing the blockchain wheel. What sets them apart? Often, it's their massive supply (Dogecoin has a circulating supply of 145 billion coins compared to Bitcoin's 21 million) and low individual value, perfect for tipping creators or buying virtual tacos. 

Some meme coins are getting creative, though. We're seeing innovations like burn mechanisms to control supply, charity wallets, and even attempts at DeFi integration. For example, Shiba Inu introduced ShibaSwap, a decentralised exchange, attracting over $1.5 billion in total value locked within its first week. 

Still, the general consensus is that most of them are simply layer 2 attempts at getting their name on the map, often with little other utility than gas fees in their own ecosystem.

Meme coins and community building 

Meme coins have spawned vibrant online communities that make crypto seem less like rocket science and more like a viral TikTok challenge. Reddit threads and Discord channels buzz with meme coin enthusiasts sharing tips, jokes, and the occasional rocket emoji. But it's not all fun and games; many meme coin communities have heart. 

Dogecoin fans famously funded a Jamaican bobsled team going to the Winter Olympics as well as clean water projects and paying back victims of a hacker. These feel-good stories have turned meme coins into crypto's approachable face, luring curious newbies into the wider world of blockchain and decentralised finance. 

The future of meme coins 

While the future of crypto is unpredictable, the future of meme coins is 10x more so. Some sceptics predict these digital coins will fade faster than last year's TikTok dance, while optimists see a world where Doge might actually buy you a Tesla. 

The smart money's on meme coins evolving beyond their jokey roots, with some already dipping their paws into DeFi and NFTs. Industry experts are split: some see meme coins as the gateway drug to serious crypto adoption, others as a passing fad. One thing's for sure: in the land of memes and dreams, expect the unexpected.

Conclusion

As we wrap up our journey through the meme coin history, it's clear these digital underdogs have left an unerasable mark on the crypto landscape. From humble, joke-filled beginnings to billion-dollar market caps, meme coins have shown the power of community, humour, and viral marketing in the financial world. 

While their future remains unpredictable, one thing is certain: meme coins have forever changed how we think about cryptocurrency, blending finance with fun in a way that's uniquely suited for our internet-driven age. The crypto revolution just got a lot more entertaining.

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Today, TikTok ranks as the fifth largest social media platform globally, used by 31% of social media users and 30% of all internet users worldwide. Taking things one step further, TikTok is also busy revolutionising social media shopping through its TikTok Shop. Looking to dive in?

If you’re unsure how TikTok Shop works or what payment options are available, you’re in the right place. This guide covers everything you need to know about TikTok Shop payment methods.

What is TikTok Shop?

TikTok Shop is an integrated marketplace where you can purchase products directly through the app. Here you'll find everything from trending fashion items to electronics, all available from both independent sellers and major brands. *It’s worth noting that these are third-party sellers and not from TikTok directly. 

You’ll also need an account to use it. 

Finding TikTok Shop

Getting started is simple:

• Download the TikTok app and create an account if you haven't already
• Look for the Shop icon at the bottom of your screen
• Start browsing products through videos, lives, or the Showcase tab

What payment methods are available on TikTik Shop?

TikTok Shop offers several convenient payment methods to suit your preferences and location:

Card payments

• All major cards accepted (Mastercard, Visa, American Express, Discover - yes, you can also use your Tap card)
• Both credit and debit cards are welcome

Digital wallets

• Apple Pay (iOS users)
• Google Wallet (Android users)
• PayPal

Buy Now, Pay Later

• Klarna: Split larger purchases into four interest-free payments

Making your first purchase

Ready to start shopping? Follow these simple steps:

• Find a product you love
• Click "Add to Cart"
• Hit "Check out" when ready
• Enter your shipping details and billing address
• Select your preferred payment method
• Review your order
• Confirm and place your purchase

Managing your payment methods

To add or change your payment method:

• Visit your TikTok profile
• Select "Your orders"
• Tap "Payments"
• Add new payment methods or set your preferred option

Shopping tips

• Always verify seller ratings and reviews before purchasing
• Check product descriptions and shipping information carefully
• Keep track of your orders through the TikTok app
• Enable notifications to track your order status
• Purchases are eligible for Tap cashback rewards

With these payment options and your Tap card at hand, you're ready to explore everything TikTok Shop has to offer.

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In the continuously evolving landscape of cryptocurrencies, stablecoins stand out as the level-headed cousins of the more volatile digital assets. These cryptocurrencies, designed to maintain a stable value, have been gaining traction in the financial world. However, their rising popularity has not gone unnoticed by regulators, particularly in the European Union.

The EU, known for its proactive stance on financial regulation, has set its sights on stablecoins. Recent developments indicate a significant shift in the regulatory approach, with new rules being implemented that could substantially impact the future of stablecoins in Europe. 

This blog takes a look at the EU's latest regulatory measures, their implications for the stablecoin market, and what this means for the broader cryptocurrency ecosystem.

What is Markets in Crypto-Assets (MiCA)?

The Markets in Crypto-Assets (MiCA) regulation serves as a unified framework to standardise crypto-asset regulation throughout the European Economic Area (EEA). Its goals are to foster innovation while safeguarding consumer interests, ensuring market integrity, and maintaining financial stability. 

By replacing individual national regulations, MiCA creates a consistent approach for crypto-asset service providers and token issuers.

Under Titles III and IV, MiCA’s stablecoin provisions took effect on 30 June 2024. This framework also introduces a licensing process for companies issuing stablecoins within the EEA, meaning that only MiCA-compliant entities will be permitted to issue and distribute stablecoins across the region.

How the EU defines stablecoins

According to the EU's MiCA regulation, stablecoins are categorised into two distinct types:

• E-money tokens (EMTs): These stablecoins are pegged to a single official currency, functioning similarly to electronic money. E.g. USDT and USDC.
• Asset-referenced tokens (ARTs): These stablecoins are backed by multiple assets, such as a diversified basket of currencies, commodities, or other cryptocurrencies. E.g. DAI and PAXG.

Both types are designed to provide stability in the often volatile cryptocurrency market, but each has its own specific regulatory requirements under MiCA.

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Key EU regulations on stablecoins

MiCA imposes restrictions on stablecoin issuance and usage, particularly focusing on their use as a means of exchange for goods and services. This regulation aims to protect monetary sovereignty within the EU.

For foreign currency e-money tokens (like USDC or Tether) and asset-referenced tokens, there are limits on their use for everyday transactions within the EU. However, these limits are specifically designed not to restrict stablecoin use within the crypto world or for broader investment purposes.

The regulation allows for unlimited use of stablecoins for crypto-related activities and investments but aims to limit their use as a replacement for traditional currencies in everyday transactions.

A great takeaway is that the EU is preparing for stablecoins to make a bigger appearance in everyday financial transactions. 

Limits on Transaction Volumes

MiCA sets daily limits on non-EU currency stablecoins used "as a means of exchange within a single currency area." Issuers are required to halt issuance if daily usage surpasses 1 million transactions or €200 million.

However, several exclusions reduce the scope of these limits:

• Transactions involving at least one party outside the EU are exempt.
• Investment-related transactions, including those involving crypto assets, are excluded.
• Transactions between non-custodial wallets are not subject to reporting.
• Collateral and derivatives transactions are not counted.

Guidance from the European Banking Authority (EBA) has further clarified these exemptions, suggesting that the impact on stablecoin usage may be minimal. However, for issuers aiming to expand in the EU’s retail payments market, MiCA indicates a clear preference for Euro-based stablecoins over foreign currency alternatives.

Requirements for Stablecoin Issuers

Out of interest, MiCA’s framework also outlines key requirements for stablecoin issuers:

• Reserve Management: Issuers must ensure that reserve assets are effectively managed, remain separate from their own assets, and are not pledged as collateral.
• E-money Token Issuers: These issuers must be licensed either as credit institutions or electronic money institutions (EMIs) and must allow holders to redeem the token’s value against the referenced currency at any time.
• Asset-Referenced Token Issuers: These issuers are required to maintain a reserve to back the token's value, mitigating currency and market risks. They must obtain regulatory authorisation and have their whitepaper approved before launching tokens to the public.
• Reporting: Issuers are also required to submit quarterly transaction volume reports to ensure ongoing compliance with regulatory thresholds.

Final thoughts

The EU’s regulatory approach to stablecoins under MiCA strikes a careful balance between fostering innovation and maintaining financial stability. By categorising stablecoins and setting strategic limitations, the EU signals an openness to progress while emphasising stability. 

Moving forward, we can anticipate a more organised stablecoin market within the EU, with Euro-based options likely leading in routine transactions. In a broader picture, internationally, the EU’s approach may set a regulatory benchmark, encouraging other regions to adopt similar frameworks. 

As this regulatory journey progresses, the global cryptocurrency community will be watching closely to see the impact of the EU’s structured approach.

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Planning a Spanish getaway? Don't let cash concerns dampen your fiesta spirit! At Tap, we're all about making your travel experiences seamless and stress-free. So, we've put together this handy guide to help you navigate the world of Spanish ATMs like a pro.

Finding ATMs in Spain

Good news: finding ATMs in Spain is much easier than finding the perfect paella. ATMs (or "cajeros automáticos" as the locals call them) are as abundant in Spain as sunshine and siestas. You'll find them:

• At airports 
• Along bustling high streets
• In shopping centers 
• Outside bank branches

Pro Tap Tip: Heading off the beaten path? Rural areas might be a bit trickier for ATM hunting. Pack some extra euros if you're venturing into Spain's charming countryside.

Will your card work? (spoiler: probably)

You're golden if you've got your Tap card in your wallet! Visa and Mastercards are widely accepted across Spain, as well as American Express, but be sure to check with the restaurant before settling in. 

Withdrawal limits

Expect to be able to withdraw between €300 to €1,000 per transaction. But remember, your UK bank might have its own daily limit. Check before you travel.

With regards to your Tap card, most plans offer a monthly card spending limit of €15,000 and free ATM withdrawals of up to €500. The Prestige and Platinum account options offer more. 

Navigating ATM fees

Let's talk about those hidden fees:

1. Exchange rate fees: Always choose to be charged in euros. Trust us on this one – it'll save you from sneaky exchange rate markups.
2. ATM fees: Spanish ATMs might charge a small fee (usually under €1). But watch out for those privately-owned machines – they can be pricey.
3. Your bank's fees: Some UK banks charge for overseas withdrawals. Check your terms before you fly. (As mentioned above, Tap offers free ATM withdrawals up to €500 on most plans).

Tap's top tips for ATM triumph

1. Airport ATMs: Convenient? Yes. Expensive? Also yes. Use as a last resort only.
2. Bank partnerships: Check if your bank has Spanish besties. You might score some free withdrawals.
3. Go local: Always choose to be charged in euros. 
4. Spread the love: Make fewer, larger withdrawals to minimise per-transaction fees.

Why Tap is your perfect travel companion

While we can't accompany you on your tapas tour or salsa lessons, Tap can make your Spanish spending spree a breeze. With our multi-currency account and card:

• Spend like a local in 150+ countries (including Spain, of course)
• Enjoy fee-free ATM withdrawals up to €500 per month
• Get real-time exchange rates that won't break the bank
• Keep an eye on all your transactions in real time in one convenient location - your phone.

Ready to make your Spanish adventure as smooth as possible? Download the Tap app and say "¡Adiós!" to travel money worries. Psst be sure to order your card before you leave, we’ll deliver it to your door in no time. 

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