Want to launch your own branded card program? We break down the what and how—unlock new revenue, boost loyalty, and stay ahead in the digital payment game.
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Ever wondered how companies launch those shiny credit cards with their logos on them? Let's dive into the world of card programs and break down everything you need to know to launch one successfully.
What's a card program, anyway?
Think of a card program as your business's very own payment ecosystem. It's like having your own mini-bank, but without the vault, technical infrastructure and security guards. Companies use card programs to offer payment solutions to their customers or employees, whether a store credit card, a corporate expense card, or even a digital wallet.
As you’ve probably figured, the financial world is quickly moving away from cash, and card payments are becoming the norm. In fact, they're now as essential to business as having a product, website or social media presence.
Why should your business launch a card program?
Launching a card program isn't just about joining the cool kids' club – it's about creating real business value and heightened exposure. Here's what you can achieve:
Keep your customers coming back
Remember those loyalty cards from your favourite coffee shop? Card programs take that concept to the next level. When customers have your card in their wallet, they're more likely to choose your business over competitors. Plus, every time they pull out that card, they (and everyone else around) see your brand.
Show me the money!
Card programs open up exciting new revenue streams. You can earn from:
- Interest charges (if applicable)
- Transaction fees from merchants
- Annual membership fees
- Premium features and services
- Insights and information on spending habits
Know your customers better
Want to know what your customers really want? Their spending patterns tell the story. Card programs give you valuable insights into customer behaviour, helping you make smarter business decisions.
Understanding the card program ecosystem
Let's break down the key players in this game:
The dream team
Picture a football team where everyone has a crucial role:
- Card networks (like Visa and Mastercard) are the referees, setting the rules
- Card issuers (like Tap) are the coaches, making sure everything runs smoothly
- Processors (overseen by Tap) are the players, handling all the transactions on the field
Open vs. closed loop: what's the difference?
Open-loop and closed-loop cards differ in where they can be used and who processes the transactions. Let’s break this down:
Open-loop cards:
These cards are branded with major payment networks like Visa, Mastercard, or American Express, and are accepted almost anywhere the network is supported, both domestically and internationally.
Examples: Traditional debit or credit cards, prepaid cards branded by major networks.
Pros: Wide acceptance and flexibility.
Cons: May come with fees for international use or transactions.
Closed-loop cards:
Cards issued by a specific retailer or service provider for exclusive use within their ecosystem. These cards are limited to the issuing brand or select partners.
Examples: Store gift cards (like Starbucks or Amazon), fuel cards for specific gas stations.
Pros: Often come with brand-specific rewards or discounts.
Cons: Limited to specific merchants; less flexibility.
Challenges that may arise
Let's be honest – launching a card program isn't all smooth sailing. Here are the hurdles you'll need to jump:
The regulatory maze
Remember trying to read those terms and conditions? Well, card program regulations are even more complex. You'll need to navigate through compliance requirements that would make your head spin.
Security
Fraud is like that uninvited guest at a party – it shows up when you least expect it. You'll need robust security measures to protect your program and your customers.
We’ve designed our card program to handle these niggles, so that you can bypass the challenges and reap the rewards. With a carefully curated experience, we take care of the setup, programming and hardware so that you can focus on the benefits and users.
Closing thoughts
Launching a card program is like building a house – it takes careful planning, the right tools, and expert help. But when done right, it can become a powerful engine for business growth.
Contact us to get started on building a card program tailored to your company. After all, the future of payments is digital, and there's never been a better time to get started.
NEWS AND UPDATES

Millennials and Gen Z are revolutionizing the financial landscape, leveraging cryptocurrencies to challenge traditional systems and redefine money itself. Curious about how this shift affects your financial future? Let's uncover the powerful changes they’re driving!
The financial world is undergoing a significant transformation, largely driven by Millennials and Gen Z. These digital-native generations are embracing cryptocurrencies at an unprecedented rate, challenging traditional financial systems and catalysing a shift toward new forms of digital finance, redefining how we perceive and interact with money.
This movement is not just a fleeting trend but a fundamental change that is redefining how we perceive and interact with money.
Digital Natives Leading the Way
Growing up in the digital age, Millennials (born 1981-1996) and Gen Z (born 1997-2012) are inherently comfortable with technology. This familiarity extends to their financial behaviours, with a noticeable inclination toward adopting innovative solutions like cryptocurrencies and blockchain technology.
According to the Grayscale Investments and Harris Poll Report which studied Americans, 44% agree that “crypto and blockchain technology are the future of finance.” Looking more closely at the demographics, Millenials and Gen Z’s expressed the highest levels of enthusiasm, underscoring the pivotal role younger generations play in driving cryptocurrency adoption.
Desire for Financial Empowerment and Inclusion
Economic challenges such as the 2008 financial crisis and the impacts of the COVID-19 pandemic have shaped these generations' perspectives on traditional finance. There's a growing scepticism toward conventional financial institutions and a desire for greater control over personal finances.
The Grayscale-Harris Poll found that 23% of those surveyed believe that cryptocurrencies are a long-term investment, up from 19% the previous year. The report also found that 41% of participants are currently paying more attention to Bitcoin and other crypto assets because of geopolitical tensions, inflation, and a weakening US dollar (up from 34%).
This sentiment fuels engagement with cryptocurrencies as viable investment assets and tools for financial empowerment.
Influence on Market Dynamics
The collective financial influence of Millennials and Gen Z is significant. Their active participation in cryptocurrency markets contributes to increased liquidity and shapes market trends. Social media platforms like Reddit, Twitter, and TikTok have become pivotal in disseminating information and investment strategies among these generations.
The rise of cryptocurrencies like Dogecoin and Shiba Inu demonstrates how younger investors leverage online communities to impact financial markets2. This phenomenon shows their ability to mobilise and drive market movements, challenging traditional investment paradigms.
Embracing Innovation and Technological Advancement
Cryptocurrencies represent more than just investment opportunities; they embody technological innovation that resonates with Millennials and Gen Z. Blockchain technology and digital assets are areas where these generations are not only users but also contributors.
A 2021 survey by Pew Research Center indicated that 31% of Americans aged 18-29 have invested in, traded, or used cryptocurrency, compared to just 8% of those aged 50-64. This significant disparity highlights the generational embrace of digital assets and the technologies underpinning them.
Impact on Traditional Financial Institutions
The shift toward cryptocurrencies is prompting traditional financial institutions to adapt. Banks, investment firms, and payment platforms are increasingly integrating crypto services to meet the evolving demands of younger clients.
Companies like PayPal and Square have expanded their cryptocurrency offerings, allowing users to buy, hold, and sell cryptocurrencies directly from their platforms. These developments signify the financial industry's recognition of the growing importance of cryptocurrencies.
Challenges and Considerations
While enthusiasm is high, challenges such as regulatory uncertainties, security concerns, and market volatility remain. However, Millennials and Gen Z appear willing to navigate these risks, drawn by the potential rewards and alignment with their values of innovation and financial autonomy.
In summary
Millennials and Gen Z are redefining the financial landscape, with their embrace of cryptocurrencies serving as a catalyst for broader change. This isn't just about alternative investments; it's a shift in how younger generations view financial systems and their place within them. Their drive for autonomy, transparency, and technological integration is pushing traditional institutions to innovate rapidly.
This generational influence extends beyond personal finance, potentially reshaping global economic structures. For industry players, from established banks to fintech startups, adapting to these changing preferences isn't just advantageous—it's essential for long-term viability.
As cryptocurrencies and blockchain technology mature, we're likely to see further transformations in how society interacts with money. Those who can navigate this evolving landscape, balancing innovation with stability, will be well-positioned for the future of finance. It's a complex shift, but one that offers exciting possibilities for a more inclusive and technologically advanced financial ecosystem. The financial world is changing, and it's the young guns who are calling the shots.

2022 was a rollercoaster for crypto investors. Explore the reasons behind the crashes of Terra and Celsius and what the future holds.
There is seldom a dull moment in the cryptosphere. In a matter of weeks, crypto winters can turn into bull runs, high-profile celebrities can send the price of a cryptocurrency to an all-time high and big networks can go from hero to bankruptcy. While we await the next bull run, let’s dissect some of the bigger moments of this year so far.
In a matter of weeks, we saw two major cryptocurrencies drop significantly in value and later declare themselves bankrupt. Not only did these companies lose millions, but millions of investors lost immense amounts of money.
As some media sources use these stories as an opportunity to spread FUD (fear, uncertainty and doubt) about the crypto industry, in this article we’ll look at what affected these particular networks. This is not the “norm” when it comes to investing in digital assets, these are cases of not doing enough thorough research.
The Downfall of Terra
Terra is a blockchain platform that offered several cryptocurrencies (mostly stablecoins), most notably the stablecoin TerraUST (UST) and Terra (LUNA). LUNA tokens played an integral role in maintaining the price of the algorithmic stablecoins, incentivizing trading between LUNA and stablecoins should they need to increase or decrease a stablecoin's supply.
In December 2021, following a token burn, LUNA entered the top 10 biggest cryptocurrencies by market cap trading at $75. LUNA’s success was tied to that of UST. In April, UST overtook Binance USD to become the third-largest stablecoin in the cryptocurrency market. The Anchor protocol of the Terra ecosystem, which offers returns as high as 20% APY, aided UST's rise.
In May of 2022, UST unpegged from its $1 position, sending LUNA into a tailspin losing 99.9% of its value in a matter of days. The coin’s market cap dipped from $41b to $6.6m. The demise of the platform led to $60 billion of investors’ money going down the drain. So, what went wrong?
After a large sell-off of UST in early May, the stablecoin began to depeg. This caused a further mass sell-off of the algorithmic cryptocurrency causing mass amounts of LUNA to be minted to maintain its price equilibrium. This sent LUNA's circulating supply sky-rocketing, in turn crashing the price of the once top ten coin. The circulating supply of LUNA went from around 345 million to 3.47 billion in a matter of days.
As investors scrambled to try to liquidate their assets, the damage was already done. The Luna Foundation Guard (LFG) had been acquiring large quantities of Bitcoin as a safeguard against the UST stablecoin unpegging, however, this did not prove to help as the network's tokens had already entered what's known as a "death spiral".
The LFG and Do Kwon reported bought $3 billion worth of Bitcoin and stored it in reserves should they need to use them for an unpegging. When the time came they claimed to have sold around 80,000 BTC, causing havoc on the rest of the market. Following these actions, the Bitcoin price dipped below $30,000, and continued to do so.
After losing nearly 100% of its value, the Terra blockchain halted services and went into overdrive to try and rectify the situation. As large exchanges started delisting both coins one by one, Terra’s founder Do Kwon released a recovery plan. While this had an effect on the coin’s price, rising to $4.46, it soon ran its course sending LUNA’s price below $1 again.
In a final attempt to rectify the situation, Do Kwon alongside co-founder Daniel Shin hard forked the Terra blockchain to create a new version, renaming the original blockchain Terra Classic. The platform then released a new coin, Luna 2.0, while the original LUNA coin was renamed LUNC.
Reviewing the situation in hindsight, a Web3 investor and venture partner at Farmer Fund, Stuti Pandey said, “What the Luna ecosystem did was they had a very aggressive and optimistic monetary policy that pretty much worked when markets were going very well, but they had a very weak monetary policy for when we encounter bear markets.”
Then Celsius Froze Over
In mid-June 2022, Celsius, a blockchain-based platform that specializes in crypto loans and borrowing, halted all withdrawals citing “extreme market conditions”. Following a month of turmoil, Celsius officially announced that it had filed for Chapter 11 bankruptcy in July.
Just a year earlier, in June 2021, the platform’s native token CEL had reached its all-time high of $8.02 with a market cap of $1.9 billion. Following the platform’s upheaval, at the time of writing CEL was trading at $1.18 with a market cap of $281 million.
According to court filings, when the platform filed for bankruptcy it was $1.2 billion in the red with $5.5 billion in liabilities, of which $4.7 billion is customer holdings. A far cry from its reign as one of the most successful DeFi (decentralized finance) platforms. What led to this demise?
Last year, the platform faced its first minor bump in the road when the US states of Texas, Alabama and New Jersey took legal action against the company for allegedly selling unregistered securities to users.
Then, in April 2022, following pressure from regulators, Celsius also stopped providing interest-bearing accounts to non-accredited investors. While against the nature of DeFi, the company was left with little choice.
Things then hit the fan in May of this year. The collapse of LUNA and UST caused significant damage to investor confidence across the entire cryptocurrency market. This is believed to have accelerated the start of a "crypto winter" and led to an industry-wide sell-off that produced a bank-run-style series of withdrawals by Celsius users. In bankruptcy documents, Celsius attributes its liquidity problems to the "domino effect" of LUNA's failure.
According to the company, Celsius had 1.7 million users and $11.7 billion worth of assets under management (AUM) and had made over $8 billion in loans alongside its very high APY (annual percentage yields) of 17%.
These loans, however, came to a grinding halt when the platform froze all its clients' assets and announced a company-wide freeze on withdrawals in early June.
Celsius released a statement stating: “Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts. We are taking this necessary action for the benefit of our entire community to stabilize liquidity and operations while we take steps to preserve and protect assets.”
Two weeks later the platform hired restructuring expert Alvarez & Marsal to assist with alleviating the damage caused by June’s uncertainty and the mounting liquidity issues.
As of mid-July, after paying off several loans, Celsius filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York.
Final Thoughts
The biggest takeaway from these examples above it to always do your own research when it comes to investing in cryptocurrency or cryptocurrency platforms. Never chase “get-rich-quick” schemes, instead do your due diligence and read the fine print. If a platform is offering 20% APY, be sure to get to the bottom of how they intend to provide this. If there’s no transparency, there should be no investment.
The cryptocurrency market has been faced with copious amounts of stressors in recent months, from the demise of these networks mentioned above (alongside others like Voyager and Three Anchor Capital) to a market-wide liquidity crunch, to the recent inflation rate increases around the globe. Not to mention the fearful anticipation of regulatory changes.
If there’s one thing we know about cryptocurrencies it’s that the market as a whole is incredibly resilient. In recent weeks, prices of top cryptocurrencies like Bitcoin and Ethereum have slowly started to increase, causing speculation that we might finally be making our way out of the crypto winter. While this won’t be an overnight endeavour, the sentiment in the market remains hopeful.
Unveiling the future of money: Explore the game-changing Central Bank Digital Currencies and their potential impact on finance.
Since the debut of Bitcoin in 2009, central banks have been living in fear of the disruptive technology that is cryptocurrency. Distributed ledger technology has revolutionized the digital world and has continued to challenge the corruption of central bank morals.
Financial institutions can’t beat or control cryptocurrency, so they are joining them in creating digital currencies. Governments have now been embracing digital currencies in the form of CBDCs, otherwise known as central bank digital currencies.
Central bank digital currencies are digital tokens, similar to cryptocurrency, issued by a central bank. They are pegged to the value of that country's fiat currency, acting as a digital currency version of the national currency. CBDCs are created and regulated by a country's central bank and monetary authorities.
A central bank digital currency is generally created for a sense of financial inclusion and to improve the application of monetary and fiscal policy. Central banks adopting currency in digital form presents great benefits for the federal reserve system as well as citizens, but there are some cons lurking behind the central bank digital currency facade.
Types of central bank digital currencies
While the concept of a central bank digital currency is quite easy to understand, there are layers to central bank money in its digital form. Before we take a deep dive into the possibilities presented by the central banks and their digital money, we will break down the different types of central bank digital currencies.
Wholesale CBDCs
Wholesale central bank digital currencies are targeted at financial institutions, whereby reserve balances are held within a central bank. This integration assists the financial system and institutions in improving payment systems and security payment efficiency.
This is much simpler than rolling out a central bank digital currency to the whole country but provides support for large businesses when they want to transfer money. These digital payments would also act as a digital ledger and aid in the avoidance of money laundering.
Retail CBDCs
A retail central bank digital currency refers to government-backed digital assets used between businesses and customers. This type of central bank digital currency is aimed at traditional currency, acting as a digital version of physical currency. These digital assets would allow retail payment systems, direct P2P CBDC transactions, as well as international settlements among businesses. It would be similar to having a bank account, where you could digitally transfer money through commercial banks, except the currency would be in the form of a digital yuan or euro, rather than the federal reserve of currency held by central banks.
Pros and cons of a central bank digital currency (CBDC)
Central banks are looking for ways to keep their money in the country, as opposed to it being spent on buying cryptocurrencies, thus losing it to a global market. As digital currencies become more popular, each central bank must decide whether they want to fight it or profit from the potential. Regardless of adoption, central banks creating their own digital currencies comes with benefits and disadvantages to users that you need to know.
Pros of central bank digital currency (CBDC)
- Cross border payments
- Track money laundering activity
- Secure international monetary fund
- Reduces risk of commercial bank collapse
- Cheaper
- More secure
- Promotes financial inclusion
Cons of central bank digital currency (CDBC)
- Central banks have complete control
- No anonymity of digital currency transfers
- Cybersecurity issues
- Price reliant on fiat currency equivalent
- Physical money may be eliminated
- Ban of distributed ledger technology and cryptocurrency
Central bank digital currency conclusion
Central bank money in an electronic form has been a big debate in the blockchain technology space, with so many countries considering the possibility. The European Central Bank, as well as other central banks, have been considering the possibility of central bank digital currencies as a means of improving the financial system. The Chinese government is in the midst of testing out their e-CNY, which some are calling the digital yuan. They have seen great success so far, but only after completely banning Bitcoin trading.
There is a lot of good that can come from CBDCs, but the benefits are mostly for the federal reserve system and central banks. Bank-account holders and citizens may have their privacy compromised and their investment options limited if the world adopts CBDCs.
It's important to remember that central bank digital currencies are not cryptocurrencies. They do not compete with cryptocurrencies and the benefits of blockchain technology. Their limited use cases can only be applied when reinforced by a financial system authority. Only time will tell if CBDCs will succeed, but right now you can appreciate the advantages brought to you by crypto.

You might have heard of the "Travel Rule" before, but do you know what it actually mean? Let us dive into it for you.
What is the "Travel Rule"?
You might have heard of the "Travel Rule" before, but do you know what it actually mean? Well, let me break it down for you. The Travel Rule, also known as FATF Recommendation 16, is a set of measures aimed at combating money laundering and terrorism financing through financial transactions.
So, why is it called the Travel Rule? It's because the personal data of the transacting parties "travels" with the transfers, making it easier for authorities to monitor and regulate these transactions. See, now it all makes sense!
The Travel Rule applies to financial institutions engaged in virtual asset transfers and crypto companies, collectively referred to as virtual asset service providers (VASPs). These VASPs have to obtain and share "required and accurate originator information and required beneficiary information" with counterparty VASPs or financial institutions during or before the transaction.
To make things more practical, the FATF recommends that countries adopt a de minimis threshold of 1,000 USD/EUR for virtual asset transfers. This means that transactions below this threshold would have fewer requirements compared to those exceeding it.
For transfers of Virtual Assets falling below the de minimis threshold, Virtual Asset Service Providers (VASPs) are required to gather:
- The identities of the sender (originator) and receiver (beneficiary).
- Either the wallet address associated with each transaction involving Virtual Assets (VAs) or a unique reference number assigned to the transaction.
- Verification of this gathered data is not obligatory, unless any suspicious circumstances concerning money laundering or terrorism financing arise. In such instances, it becomes essential to verify customer information.
Conversely, for transfers surpassing the de minimis threshold, VASPs are obligated to collect more extensive particulars, encompassing:
- Full name of the sender (originator).
- The account number employed by the sender (originator) for processing the transaction, such as a wallet address.
- The physical (geographical) address of the sender (originator), national identity number, a customer identification number that uniquely distinguishes the sender to the ordering institution, or details like date and place of birth.
- Name of the receiver (beneficiary).
- Account number of the receiver (beneficiary) utilized for transaction processing, similar to a wallet address.
By following these guidelines, virtual asset service providers can contribute to a safer and more transparent virtual asset ecosystem while complying with international regulations on anti-money laundering and countering the financing of terrorism. It's all about ensuring the integrity of financial transactions and safeguarding against illicit activities.
Implementation of the Travel Rule in the United Kingdom
A notable shift is anticipated in the United Kingdom's oversight of the virtual asset sector, commencing September 1, 2023.
This seminal development comes in the form of the Travel Rule, which falls under Part 7A of the Money Laundering Regulations 2017. Designed to combat money laundering and terrorist financing within the virtual asset industry, this new regulation expands the information-sharing requirements for wire transfers to encompass virtual asset transfers.
The HM Treasury of the UK has meticulously customized the provisions of the revised Wire Transfer Regulations to cater to the unique demands of the virtual asset sector. This underscores the government's unwavering commitment to fostering a secure and transparent financial ecosystem. Concurrently, it signals their resolve to enable the virtual asset industry to flourish.
The Travel Rule itself originates from the updated version of the Financial Action Task Force's recommendation on information-sharing requirements for wire transfers. By extending these recommendations to cover virtual asset transfers, the UK aspires to significantly mitigate the risk of illicit activities within the sector.
Undoubtedly, the Travel Rule heralds a landmark stride forward in regulating the virtual asset industry in the UK. By extending the ambit of information-sharing requirements and fortifying oversight over virtual asset firms
Implementation of the Travel Rule in the European Union
Prepare yourself, as a new regulation called the Travel Rule is set to be introduced in the world of virtual assets within the European Union. Effective from December 30, 2024, this rule will take effect precisely 18 months after the initial enforcement of the Transfer of Funds Regulation.
Let's delve into the details of the Travel Rule. When it comes to information requirements, there will be no distinction made between cross-border transfers and transfers within the EU. The revised Transfer of Funds regulation recognizes all virtual asset transfers as cross-border, acknowledging the borderless nature and global reach of such transactions and services.
Now, let's discuss compliance obligations. To ensure adherence to these regulations, European Crypto Asset Service Providers (CASPs) must comply with certain measures. For transactions exceeding 1,000 EUR with self-hosted wallets, CASPs are obligated to collect crucial originator and beneficiary information. Additionally, CASPs are required to fulfill additional wallet verification obligations.
The implementation of these measures within the European Union aims to enhance transparency and mitigate potential risks associated with virtual asset transfers. For individuals involved in this domain, it is of utmost importance to stay informed and adhere to these new guidelines in order to ensure compliance.
What does the travel rules means to me as user?
As a user in the virtual asset industry, the implementation of the Travel Rule brings some significant changes that are designed to enhance the security and transparency of financial transactions. This means that when you engage in virtual asset transfers, certain personal information will now be shared between the involved parties. While this might sound intrusive at first, it plays a crucial role in combating fraud, money laundering, and terrorist financing.
The Travel Rule aims to create a safer environment for individuals like you by reducing the risks associated with illicit activities. This means that you can have greater confidence in the legitimacy of the virtual asset transactions you engage in. The regulation aims to weed out illicit activities and promote a level playing field for legitimate users. This fosters trust and confidence among users, attracting more participants and further driving the growth and development of the industry.
However, it's important to note that complying with this rule may require you to provide additional information to virtual asset service providers. Your privacy and the protection of your personal data remain paramount, and service providers are bound by strict regulations to ensure the security of your information.
In summary, the Travel Rule is a positive development for digital asset users like yourself, as it contributes to a more secure and trustworthy virtual asset industry.
Unlocking Compliance and Seamless Experiences: Tap's Proactive Approach to Upcoming Regulations
Tap is fully committed to upholding regulatory compliance, while also prioritizing a seamless and enjoyable customer experience. In order to achieve this delicate balance, Tap has proactively sought out partnerships with trusted solution providers and is actively engaged in industry working groups. By collaborating with experts in the field, Tap ensures it remains on the cutting edge of best practices and innovative solutions.
These efforts not only demonstrate Tap's dedication to compliance, but also contribute to creating a secure and transparent environment for its users. By staying ahead of the curve, Tap can foster trust and confidence in the cryptocurrency ecosystem, reassuring customers that their financial transactions are safe and protected.
But Tap's commitment to compliance doesn't mean sacrificing user experience. On the contrary, Tap understands the importance of providing a seamless journey for its customers. This means that while regulatory requirements may be changing, Tap is working diligently to ensure that users can continue to enjoy a smooth and hassle-free experience.
By combining a proactive approach to compliance with a determination to maintain user satisfaction, Tap is setting itself apart as a trusted leader in the financial technology industry. So rest assured, as Tap evolves in response to new regulations, your experience as a customer will remain top-notch and worry-free.
LATEST ARTICLE

Yield farming is a method to generate more crypto with your crypto holdings. The process involves you lending your digital assets to others by means of the power of computer programs known as smart contracts.
Cryptocurrency holders have the option of leaving their assets idle in a wallet or binding them into a smart contract to assist with liquidity. Yield farming allows you to benefit and gain rewards from your cryptocurrency without spending any more of it. Sounds quite easy, right?
Well, hold on because it isn't that straightforward and we are just getting started.
Yield farmers employ highly advanced tactics in order to improve returns.
They constantly move their cryptocurrencies among a variety of lending markets in order to optimize their returns. After a quick Google search, you would wonder why there isn't more content surrounding strategies and why these yield farmers are so tight-lipped about the greatest yield farming procedures.
Well, the answer is quite simple: the more people are informed about a strategy, the less effective it becomes. Yield farming is the lawless territory of Decentralized Finance (DeFi), where farmers compete for the opportunity to grow the highest-yield crops.
As of November 2021, there is $269 billion in crypto assets locked in DeFi, gaining an impressive almost 27% in value compared to the previous month of October.
The DeFi yield farming rise shows that the excitement in the crypto market has extended far beyond community- and culture-based meme tokens and planted itself in the centre of the hype. What exactly does it take to be a yield farmer?
What kinds of yields can you anticipate? Where do you start If you're considering becoming a yield farmer? Here, we'll guide you through everything you need to know.
What is Yield Farming?
Also referred to as liquidity farming, yield farming is a method for generating profits using your cryptocurrency holdings instead of leaving them idle in an account on a crypto website. In a nutshell, it involves bidding cryptocurrency assets into platforms that offer lending and borrowing services and earning a reward for it.
Yield farming is similar to bank loans or bonds in that you must pay back the money with interest when the loan is due. Yield farming works the same way, but this time, the banks are replaced in this scenario by crypto holders like yourself in a decentralized environment. Yield farming is a form of cryptocurrency investment in which "idle cryptocurrencies" that would have otherwise been held on an exchange or hot wallet are utilized to provide liquidity in DeFi protocols in exchange for a return.
Yield farming is not possible without liquidity pools or liquidity farming. But, what is a liquidity pool? It's basically a smart contract that contains funds. Liquidity pools are working with users called liquidity providers (LP) that add funds to liquidity pools. Find more information about liquidity pools, liquidity providers, and the automated market maker model below.
How Does Yield Farming Work?
Liquidity pools (smart contracts filled with cash) are used by yield farming platforms to offer trustless methods for crypto investors to make passive revenue by loaning out their funds or crypto using smart contracts.
Similar to how people create bonds to pay off a house and then pay the bank interest for the loan, users can tap into a decentralized loan pool to pay for the bonds.
Yield farming is a type of investment that involves the use of a liquidity provider and a liquidity pool in order to run a DeFi market.
- A liquidity provider is a person or company who puts money into a smart contract.
- The liquidity pool is a smart contract filled with cash.
Liquidity providers (LPs), also known as market makers, are in charge of staking funds in liquidity pools enabling sellers and purchasers to transact conveniently by executing a buyer-seller agreement utilizing smart contracts. LPs earn a reward for providing liquidity to the pool. Yield farming is based on liquidity providers and liquidity pools, which are the foundations of yield farming. These work by staking or lending crypto assets on DeFi protocols to earn incentives, interest or additional cryptocurrency. It's similar to how venture capital firms invest in high-yield equities, which is the practice of investing in equities that offer better long term results.
Yield farmers will frequently shuffle their money between diverse protocols in search of high yields. For this reason, DeFi platforms may also use other economic incentives to entice more capital onto their platform as higher liquidity tends to attract more liquidity. The method of distribution of the rewards will be determined by the specific implementation of the protocol. By yield farming law, the liquidity providers get compensated for the amount of liquidity they contribute to the pool.
How Are Yield Farming Returns Calculated?
Estimated yield returns are calculated on an annualized model. This estimates the returns that you could expect throughout a year. The primary difference between them is that annual percentage rates (APR) don't consider compound interest, while annual percentage yield (APY) does. Compounding is the process of reinvesting current profits to achieve greater results (i.e. returns). Most calculation models are simply estimates. It is difficult to accurately calculate returns on yield farming because it is a dynamic market and the rewards can fluctuate rapidly leading to a drop in profitability. The market is quite volatile and risky for both borrowers and lenders.
Before Getting Started, Understand The Risks Of Yield Farming
Despite the obvious potential benefits, yield farming has its challenges. Yield farming isn't easy. The most successful yield farming techniques are quite complex, recommended only to advanced users or experts who have done their research.
Here are the different risks:
Smart contract
Smart contracts are computerized agreements that automatically implement the terms of the agreement between parties and predefined rules. Smart contracts remove intermediaries, are less expensive to operate and are a safer way to conduct transactions. However, they are vulnerable to attack vectors and bugs in the code.
Liquidation risks
DeFi platforms, like traditional finance platforms, use customer deposits to create liquidity in their markets. However, if the collateral's value falls below the loan's price, you would be liquidated. Collateral is subject to volatility, and debt positions are vulnerable to under-collateralization in market fluctuations.
If you borrow XX collateralized by YY a rise in the value of XX would force the loan to be liquidated since the collateral YY value would be inferior to the value of the XX loan.
DeFi Rug Pulls
In most cases, rug pulls are obvious exit scams that are intended to entice investors with a well-manufactured promising project in order to attract investors.
A crypto rug pull happens when developers create a token paired with a valuable cryptocurrency. When funds flow into the project and the price rises, developers then seize as much liquidity they can get their hands on resulting in losses for the investors left in.
Impermanent loss
Impermanent loss happens when a liquidity provider deposits their crypto into a liquidity pool and the price changes within a few days. The amount of money lost as a result of that change is what is called an impermanent loss. This situation is counter-intuitive yet crucial for liquidity providers to comprehend.
Exercise Caution When Getting Into Yield Farming
If you have no prior knowledge of the cryptocurrency world, entering into the yield farming production may be a hazardous endeavour. You might lose everything you've put into the project. Yield farming is a fast-paced and volatile industry. If you want to venture into yield farming, make sure you don't put more money in than you can afford, there's a reason why the United Kingdom has recently implemented serious crypto regulations.
What The Future Holds For Yield Farming
We hope that after reading this article you will have a much deeper understanding of yield farming and that it answered some of your burning questions.
In summary, yield farming uses investors' funds to create liquidity in the market in exchange for returns. It has significant potential for growth, but it's not without its faults.
What else might the decentralized financial revolution have in store for us? It's difficult to anticipate what future applications may emerge based on these present components. However, trustless liquidity protocols and other DeFi technologies are driving finance, cryptoeconomics, and computer science forward.
Certainly, DeFi money markets have the ability to contribute to the development of a more open and inclusive financial system that is accessible to everyone with an Internet connection.

As the Internet of Things becomes an increasingly popular topic of conversation, we are here to lay the foundations of what the concept of IoT really is. As people become familiar with blockchain and cryptocurrencies, it is only a matter of time before the IoT becomes deeply ingrained in our day to day living.
What is the internet of things?
The Internet of Things refers to millions of physical devices that connect to the internet and collect and share data. These systems of interrelated computing devices can be as small as a pill or as large as an aeroplane and are able to communicate real-time data. This marks a prominent milestone in the evolution of the Computer Age.
This shift is possible due to a number of factors that have come into play in the last few decades, such as the decreased cost of connecting to the internet and broadband internet becoming more accessible. There is also the added advantage of more devices being built with sensors and WiFi capabilities and how these devices have reduced in cost becoming more accessible to everybody. These factors contributed to making the perfect storm for IoT to ignite.
While the term was coined in 1999 by Kevin Ashton, the IoT era is believed to have only truly begun in 2008 when the world officially had more devices connected to the internet than people.
An example of IoT devices
An IoT device is any natural or man-made object that can be assigned an Internet Protocol (IP) address and transfer data over a network. It can range from smart speakers like Amazon's Alexa and Google Next to a lightbulb, security camera or thermostat that are controlled by apps, from heart rate monitors to sprinklers, and everything in between.
How does IoT work?
IoT technology is made up of physical devices that consist of networks of sensors, processors and communication hardware. These internetworking components are able to collect, send and act on the data they receive.
The data is then analysed in the cloud through an IoT gateway or other edge device, or communicated to other related devices from where action can be executed. These processes are all automated, however, human invention can occur when setting them up, accessing data or giving the devices instructions. This technology essentially enables the remote monitoring, programming and control of specific data with minimal human intervention.
Artificial intelligence (AI) and machine learning can also be implemented to assist in making data collecting processes easier and more dynamic.
In a practical example, an IoT device such as a thermometer will collect the data (temperature), this will then be collated and transferred through an IoT gateway or IoT hub from where the back-end system or user interface (e.g. app on a smartphone) will analyse the data and take action.
IoT in domestic settings
Already seeing a huge advancement in home and office devices, the IoT movement on a domestic level is big and getting bigger. Home automation is fast becoming a very lucrative endeavour, with the market valued at $44.68 billion in 2020 alone. This ranges from lights to air conditioners to security systems, anything in the home that can be controlled by an app, including smart hubs connecting these devices, like TVs and refrigerators.
IoT devices have also proven their worth among elders and people with disabilities, as they are able to provide assistive technology for sight, hearing or mobility limitations.
IoT in industrial settings
While the smart home industry is booming, the industrial use cases are not far behind. IoT in business allows companies to automate processes and can help to monitor the performance of systems and machines in real-time, from supply chain management to logistic operations.
The market has already seen devices used to track environmental conditions (humidity, air pressure, temperature), prevalent in the designs of smart cities. They also prove their worth in the agricultural sector where farmers can use these devices to monitor the water levels of livestock or automatically order new products when the supply is about to run out.
The future of IoT
Already over a decade into the movement, IoT is only going to get bigger. With a range of use cases that span almost every sector, it's no surprise that the projected value for the industry in 2028 is over $97 billion. Forecasts also predict that industrial and automotive equipment will present the largest opportunity for growth in the future, while smart home and wearable devices will dominate in the coming years.
However, if the implementation of these devices is not done well this could present a new challenge to the industry. For example, if you have several smart home devices running in your home and need to log into several different apps to use them, this will hinder the growth of that sector.
In conclusion: The IoT is the future of things
Any device falls into the category of IoT as long as it collects and shares data enabling smarter working with more control. If implemented correctly, IoT devices may well be a permanent fixture in our lives in the next decade, with analysts predicting that adoption and spending will grow exponentially in the next few years.

Level up your crypto trading with the right tools. Whether you’re brand new to the industry or a seasoned trader, you can never know enough about the industry, the crypto market or what to expect. Crypto trading is a unique and exciting endeavour, and we’re here to make sure you always have your best foot forward.
It’s not always easy to know where to start
Being a beginner at anything in life is hard, and the crypto industry is no exception. It’s common for newbies to be inundated with content and it’s not easy to know what’s worth your attention and time and what isn’t. On top of that, there is also a lot of misinformation out there, with publications or platforms selling services through content directed to that purpose.
Through our Crypto Basics platform, you can learn the fundamentals of the crypto industry. We’ve curated the topics to ensure that you get a broad understanding while still covering topics that are relevant to your learning curve. Entering the crypto market should be fun and stimulating, so we’ve geared our Crypto Basics platform as well as all our content toward that.
Start Learning Right From Our Crypto Basics Learning Portal
Tap crypto basics 101
In our online learning portal, you will have access to plenty of blogs to assist you in gathering all the knowledge you need to know. We’ll start you off with an introduction to the three top cryptocurrencies, explaining what they are, how they came about, and what functions they offer. After the crash course on Bitcoin, Ethereum and Litecoin you’ll have a good idea of what cryptocurrencies are and how they differentiate themselves. You’ll then be introduced to altcoins, a common term used to refer to any cryptocurrency that isn’t Bitcoin.
From there you can gain an understanding of how cryptocurrency transactions work and what goes on behind the scenes to facilitate these digital transactions. We’ll also give you an introduction to how mining works, a term used to describe the process of new coins entering the system (also used to verify and process transactions).
How Do Bitcoin And Altcoin Transactions Work?
What is Bitcoin Mining and How Does it Work?
How Long Will It Take To Mine All The Bitcoins?
In the explanation on Ethereum or across the industry in general, you will likely come across terms like “smart contracts”, “dapps” and “DeFi”. We’ve got you covered with simple explanations on each of these, delivering a comprehensive overview to help you navigate news pieces or forum discussions with confidence.
From there you can explore industry terms like “what is KYC?” as well as take a look at things like market caps and bull versus bear markets. These terms you will hear a lot of in the industry, and these blogs provide you with the terminology to breeze through.
What is A Bull Or Bear Market?
Tap into your own potential
This is a good introduction to our Learning Portal, however, there is so much more on offer. As we constantly update the portal be sure to check in when you’re ready for your next dose of crypto knowledge, or better yet bookmark the link so that you constantly are in the know. We regularly update the section with new and insightful material, so be sure to check-in. You’re never too experienced to upgrade your crypto knowledge, so use Tap as your tool kit to further expand your crypto knowledge and navigate the markets with ease.

With the recent rise in meme tokens and dog-themed coins, any coins with a Shiba Inu (a Japanese breed of dog) mascot seem to attract all the right kinds of attention. With the real Shiba Inu (SHIB) token winning "investment vehicle" of the year in 2021 after posting unbelievable gains, many are still wondering whether Shiba Inu is still a good token?
Where Did It All Begin?
A golden rule of getting in crypto is to understand exactly what you're buying in before taking the plunge. Before we explore Shiba Inu's history, we must start at the beginning with Dogecoin. Dogecoin was the original meme token and entered the crypto scene in 2013. The coin was designed to provide a "light-hearted" alternative to Bitcoin, poking fun at the seriousness of the crypto community at the time with its Shiba Inu logo.
As it turned out, Dogecoin built a strong and loyal following that has stuck by the coin ever since. It wasn't until 2020 when Tesla CEO Elon Musk became vocal on Twitter about the cryptocurrency that DOGE truly went viral.
What is Shiba Inu Coin?
Musk's interest in Dogecoin aligned nicely with the launch of Shiba Inu, which officially went live in August 2020. It wasn't long before SHIB climbed the ranks and became the biggest meme token on the market based on market capitalization, albeit for a brief moment. While it was dubbed in comparison as the "Doge Killer", Dogecoin still held the most value. It's worth noting that each time Musk mentioned Dogecoin in writing, Shiba Inu enjoyed some of that success and popularity as displayed by its growth.
Shiba Inu is an ERC-20 token built on the Ethereum platform that powers the Shiba Inu network. The platform features a range of products, from an exchange to an art incubator, and is compatible with a wide range of apps due to its Ethereum based nature. Trading for a fraction of a US cent, Shiba Inu offers a cost-effective way to enter the crypto market. Several businesses have also started accepting the cryptocurrency, allowing customers to pay for sales with SHIB.
How Is Shiba Inu Different From Dogecoin?
A great place to start when trying to understand SHIB is to determine the differences between these two biggest meme tokens. Starting with Dogecoin, the network provides a fast and cheap peer-to-peer payment system that is commonly used for tipping on social media platforms.
Shiba Inu on the other hand is a little bit more complex. The platform provides a decentralized exchange (DEX) known as ShibaSwap which allows users to earn interest, as well as two other tokens, BONE and LEASH. The project describes itself as an experiment in decentralization.
Shiba Inu is built on top of the Ethereum protocol, with the tokens created using various token standards, SHIB being an ERC-20 token. This makes it highly compatible with ETH wallets and most DeFi apps, while DOGE requires a specific wallet. These are all reasons as to why investors are calling it the Doge Killer.
Does Shiba Inu (SHIB) Have a Future?
In 2021, Shiba Inu saw gains of 53,241,775%. Investors that bought $2 worth of SHIB on 1 January would have been sitting on millions of dollars worth of returns at the height of the bull run. That's enough to make any digital currency enthusiast look twice.
So far in 2022, the markets have been predominately down, with Bitcoin and Ethereum falling roughly 35% from their highs in November. Shiba Inu on the other hand has lost around 70% of its value since its all-time high in October 2021. Despite this, it has seen upward swings since, gaining a large amount of value in early February.
The surge is believed to be contributed to by an Italian fast-food chain called Welly's. Welly's is also Shiba Inu-themed and accepts the cryptocurrency as a form of payment. Two other believed catalysts are the upcoming Shibarium (Shiba Inu's latest blockchain project) designed to reduce transaction fees and the project's vocalized intentions of entering the metaverse.
Can Shiba Inu Coin Reach $1?
A popular question among crypto afficionados is whether Shiba Inu can reach $1. While there is certainly speculation in the market that this is possible over a substantial period of time, as with any cryptocurrency there is no guarantee on how much money it will be worth in the future. With the price affected by supply and demand economics, there will need to be a considerable amount of hype and demand for the cryptocurrency in order to it to reach that value.
While Shiba Inu could be a promising token should it skyrocket again, it is still considered to be a risky token. The cryptocurrency certainly has an attractive price point and a number of use cases, however, it is also in its early stages as a crypto and is currently less widely accepted when compared to other cryptocurrencies.
As the world waits on authority news regarding the regulatory framework surrounding cryptocurrencies, there are definitive hurdles that need to be reached before the Shiba Inu coin reaches $1, should it do so. There are currently over 545 trillion SHIB in circulation. For your protection, ensure that you never put more funds than you're willing to lose.
How Can I Buy Shiba Inu In The UK?
In love with SHIB or Shiba inus in general? Should you wish to purchase some Shiba Inu (SHIB) with your British pounds (GBP), you can do so easily and securely through the Tap mobile app, from where you can also store the tokens. Tap accepts GBP and supports faster payments for lightning-fast top-ups while allowing users to buy, sell, and engage in a number of cryptocurrency markets and services.
How Can I Buy Shiba Inu In Europe?
In love with SHIB in europe? We got you covered. Should you wish to purchase some Shiba Inu ( SHIB ) with Euros, you can do so with ease and securely through the Tap mobile app, from where you can also store the tokens. Tap accepts Euro and supports SEPA transfers to enable all EU & EEA traders and investors to buy, sell, and engage in a number of cryptocurrency markets and services.

Cryptocurrencies derive their value from supply and demand, with the buyers and sellers playing an enormous role in the market's liquidity, and ultimately, success. This rings true for stocks, commodities and forex markets too, essentially any asset markets with trading volumes.
Anyone participating in these markets will have been a maker or a taker at some stage, most likely, both. In this article, we're breaking down the concept of makers vs takers, exploring their vital role in the market and large quantities of these result in stronger exchanges.
Liquidity Explained
Before we dive in, let's first cover an important concept: liquidity. Assets can sometimes be described as liquid or illiquid, this simply refers to how easily the asset can sell. Gold is a prime example of a liquid asset as anyone could easily trade it for cash without any hassle, while a glass statue of your neighbour's cat would be an illiquid asset as the chances of anyone wanting to own it are slim (except for the neighbour, maybe).
Building on this, market liquidity indicates how liquid a market is. A liquid market means that the asset is in high demand, traders are actively looking to acquire the asset, while also having a high supply, meaning that traders are actively looking to offload the asset. An illiquid market then means that there is low supply and demand, making it difficult to buy or sell the asset for a fair price.
In a liquid market where there are many traders looking to buy and sell an asset, the sell order (ask price) tends to be in the same region as the buy order (buy price). Typically, the lowest sell order will be the same as the highest buy order, creating a tight buy-ask spread.
Now that we've covered liquidity, it's time for makers vs takers.
What Is The Difference Between Market Makers And Market Takers?
As mentioned above, any successful exchange requires a fair amount of makers and takers. Let's explore the difference between the two below.
Market Makers
Exchanges typically use an order book to conduct trades. The order book will store offers to buy and sell as they come in, and execute the trades when the criteria are met, i.e. someone could create an offer that says when Bitcoin reaches $40,000, buy 4. When the BTC price reaches $40,000, the order book with automatically execute this trade.
In this case, the person creating this buy order is known as a maker. They are essentially "making" the market by announcing their intentions ahead of time via the order book. While many retail investors are makers, the field is typically made up of big traders and high-frequency trading institutions.
A market maker is a liquidity provider.
Market Takers
Market takers are then liquidity "takers", removing liquidity from the market. Takers create market orders that indicate to the exchange that the trader wants to buy or sell at the current market price. The exchange will then automatically execute the trade using a maker's offer.
A taker is a trader filling someone else's order. Market makers create offers for the order book, making it easier for users to buy and sell, while market takers exercise this liquidity by buying the asset.
What Are Maker-Taker Fees?
You might have heard of maker-taker fees before, this makes up a considerable amount of how exchanges generate an income (after all, exchanges are businesses that need to make money). When an exchange matches a maker and a taker, they will take a small fee for the efforts on their part. This fee will differ from exchange to exchange, and will also be dependent on how big of a trade it is.
As makers are providing liquidity to the exchange (an enticing attribute for any trading platform) they will pay lower fees compared to a trader taking away from the platform's liquidity. Always be sure to check the fee structure and pricing on a platform before engaging in any trading activity, these will be outlined in the platform's trading policy.
How Do Trading Companies Make Money?
Cryptocurrency and blockchain technology was designed to provide a decentralized financial system that bypasses government control. However, to alleviate regulatory concerns, exchanges were established to provide a reliable and convenient means of operating within the crypto markets. These exchanges provide a secure way in which users can buy, sell and trade cryptocurrencies, and in return make money through the activities of its customers as it is a business after all.
While maker and taker fees make up a large portion of how a platform generates an income, the business also generates income through deposit and withdrawal fees, commissions made on trades and listing fees. These typically make up the cost of production and running the business.
In Conclusion
Market makers contribute to the market's liquidity by creating orders looking to be filled, while market takers fill these orders. Makers are typically rewarded for bringing liquidity to a platform with low maker fees, while takers pay higher fees when they make use of this liquidity, easily buying and selling the asset.

In this article, we’re guiding you through the intricacies of the e-money licence: what it means, who needs one and of course, how it affects you, the consumer. This new wave of regulation has been put into place to not only safeguard the consumer but also to put measures in place to identify and stop fraudulent activity.
What Is Electronic Money (E-money)?
Before we dive into the licencing requirements, let us first take a look at what electronic money is defined as. Essentially, e-money is a digital version of cash. It maintains a monetary value that can be used to make payments and various transactions, typically over the internet, or through a phone or card.
E-money products are either software-based or hardware-based and are responsible for electronically storing the monetary value. Software-based products are used on computers and tablets and require an internet connection (like PayPal for example) while hardware-based products encompass cards that have a chip card and do not require an online connection (for example, Square).
What Is An E-money Licence?
The e-money licence is a regulatory licence that authorises an electronic money institution (EMI) to conduct business. EMIs represent the digitisation of financial services and are authorized to issue money as well as provide payment cards, e-wallets, and IBAN accounts. While banks may provide a similar service, they require an alternative licence as they are able to provide a greater range of services.
In a nutshell, an EMI is considered as such if it engages in the issuing and redeeming of electronic money (e-money), cash withdrawal, deposit and payment services, remittance services, debit or credit transfers, payment initiation and execution services, and account information services. They may conduct these services only if they have the proper licensing.
How Does It Protect The Consumer?
While regulation and consumer protection are the driving force behind e-money licences, there are also several other reasons as to why the regulatory framework has been put into place. The licence is designed to provide businesses with the opportunity to gain access to the e-money market, to facilitate innovation in secure e-money services, and to build healthy competition in a secure market.
E-money licences are obtained to safeguard a consumer’s funds should the EMI become insolvent. This operates in an entirely different manner to a banking licence. Under the proper regulation, EMI’s can choose to do either of the following options to safeguard consumer funds (funds provided by customers in exchange for the issuance of e-money):
- deposit the funds into a segregated client’s funds account with an authorised credit institution, or
- acquire insurance that will cover the risks associated with the client’s funds.
This ensures that the consumer is always protected against loss of funds, and will be compensated accordingly should the situation present itself. It is imperative that consumers only choose EMIs with the correct e-money licences.
How Much Money Is Protected With The E-Money Licence?
According to the FCA regulations, the EMI is responsible for establishing the appropriate organisational arrangements to ensure that the safeguarded funds are at all times protected.
As mentioned above, this can be done by either storing the deposited customer funds in a separate account (different from the institution’s working capital and other funds) or by ensuring that they are covered by an appropriate insurance policy or comparable guarantee.
While licenced banks work in conjunction with the Financial Services Compensation Scheme (FSCS) and only insure users up to £85,000, EMIs are required to protect 100% of the consumers’ funds.
According to the licence, EMIs are required to safeguard all funds deposited on the platform and not just a portion as per the licence required by the banks.
While EMIs take several other precautions to protect consumer funds, the e-money licence ensures that the most fundamental legal requirements are met, granting the company the right to legally operate.
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