Tap is delighted to unveil its new website design accessible: Here

Tap’s newly designed website has been created with user experience in mind, and designed with functional aesthetics as a focus. Complementing the unique Tap identity this new design boasts distinctive and sophisticated blend of colours, inspired by the reminiscent characteristic of water purity combined with a modern minimalist touch.

Bright and inviting, the site includes handy new features, helping users smoothly and easily navigate the site. The website has been optimised for visitors looking to understand the breadth of Tap’s products and services.
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New features include:

-Simplistic Navigation, boasting simple and intuitive navigation in a click.  

-Enhanced design, creating a sense of comfort and refinement with a dynamic and youthful energy

-Blog Filters, enabling users to focus on his needs and fulfil his curiosity.
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Tap’s new website offers its customers and new visitors an enhanced navigation and learning experience, with a unique, and friendly environment. Binding the crypto and traditional finance elements with yet innovative educational resources. This valuable educational content will be just one click away for useful and pertinent information.

With its new website, Tap seeks to develop the conversation between its intrinsic identity and design and an ambience intended to welcome and engage Tap members, new visitors and referral partners.  

For more information on Tap and to view their new  website, you are invited to please visit www.tap.global

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Introduction

In just over ten years cryptocurrencies have evolved rapidly - from its origin, as a niche essentially theoretical concept, to its popularisation and widespread usage on the ‘dark web’, and in recent years establishing itself as a mainstream household currency held by as many as 30% of people in countries like Nigeria, with over 221 million users globally.

In this time the diversity and value of cryptocurrencies, such as BTC, have also exploded, attracting the attention of investors worldwide, with over 5,098 different cryptocurrencies actively traded on established global exchanges like Coinbase in 2020. Most importantly, the actual usefulness and usage of cryptocurrencies on a day to day basis has developed in ways the original creators could only have dreamed of.

Not just for ordinary people - but for businesses as well.

Why businesses are using a crypto bank accounts

The growth and development of cryptocurrencies mean there are many advantages for businesses of all sizes not just to accept crypto payments, but to actively use them for payments as well as hold them as assets in their crypto business account. In fact the best way to capitalise on the benefits and opportunities of crypto currencies - such as lower transaction fees and easy access to high yield investment assets - is for businesses to have a dedicated crypto business account.

• 40% of companies in the Americas, Africa, and the Middle East intend to use digital currencies for the operational and transactional purposes within the next year, citing benefits such as faster settlement times and lower transaction costs, particularly for cross-border payments.
• B2B cross-border crypto payments are expected to reach almost 1.8 billion by 2025, compared to 122 million in 2020.
• In the US, B2B crypto payments grew by 40 percent growth between 2014-2020, a trend that is expected to continue, with a CAGR of 21% between 2021 and 2030.

1.Crypto growth and popularity‍

While much of the media attention has been focused on the growth in value and investment opportunities associated with crypto, the benefits for businesses have received far less coverage. However, this area of cryptocurrencies is perhaps the most exciting and set to be the most dynamic area of development and growth moving forward.

More businesses are accepting crypto payments than ever before.

• The adoption is driven by consumer demand, with over 221 million people now using crypto currencies and over $1 million is spent in Bitcoin on goods and services every day in the U.S.
• There are now 15,174 businesses worldwide that accept Bitcoin, with around 2,300 of those businesses operating in the US.
• There are now 36,656 crypto ATMs worldwide, making it easier to use crypto payments for everyday purchases.
• 80% of retail, grocery, and luxury goods merchants are open to crypto, as well as 25% of travel, hospitality, and automotive merchants.

2. Crypto and employees

‍As crypto payments become more common, the number of employees interested in being paid directly with crypto has also increased, which has many benefits for both them and their employers.

The future of crypto-salaries

• A recent survey found that over 40% of employees would consider having part or all of their salary paid in crypto.
• The stability of wages paid in crypto is now more possible due to the growth of Stablecoins - which have values linked to traditional currencies like the US Dollar - with total market capitalisation of reaching $187 billion in March 2022, an increase of 15% since the beginning of the year.

The adoption of crypto has been especially rapid in developing markets, such as Nigeria and countries with expensive or unreliable payments infrastructure:

• A report by Statista found that Nigeria has the greatest appetite and adoption of crypto payments per capita, with Chainalysis estimating that African countries collectively received around $105.6 billion worth of cryptocurrency between July 2020 and June 2021.
• Even prior to the recent political restrictions on payments to Russian citizens and companies, almost half of Russians were willing to receive their salary in crypto, with one in 10 expressing they would prefer it to a traditional payment.

3. Crypto and businesses

The rapid development of the blockchain technology that power cryptocurrencies also has many exciting opportunities for businesses, especially those involved in complex, cross border transactions.This is because of the instant, low-cost nature of crypto transactions as well as the potential for highly secure ‘smart contracts’ that help to decrease fraud and legal disputes arising from business contracts.

• The global Smart Contracts market size is projected to reach US$ 1460.3 million by 2028 including  large multinational companies like IBM, Oracle and AWS.
• Businesses that switch to blockchain based payments benefit from reduced costs, with estimated total cost savings expected to rise from $301 million in 2021 to $10 billion in 2030.

Crypto payments are the future for businesses

While the media and online buzz around crypto payments has recently focused on skyrocketing price increases and the growth of investment opportunities for individuals, the real benefits for businesses of crypto payments are often overlooked. As crypto payments become more widely accepted and useful on a day to day basis for ordinary consumers more and more employees are interested in being paid in crypto, which can have significant advantages for both them and their employers.

Similarly, for businesses involved in hiring remote workers in other countries, using crypto payments can reduce the tax and administrative burden of paying their wages while also ensuring more of their pay ends up in their pockets rather than in a bank’s annual profit statement. Finally, the potential for smart contracts to revolutionise cross border trade is only now beginning to be realised, meaning there truly has never been a better time for businesses of all sizes to explore how crypto currencies can help fuel their growth in 2022 and beyond.

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The Bitcoin Mining Rush

Bitcoin has become a household name around the world, for very good reasons. The same way gold became the standard of currency, bitcoin is doing the same. With the rise of gold, we also saw a gold rush, as people flocked to the mines to find every flake of gold they could. Something similar is happening to bitcoin right now as the cryptocurrency mining rush has begun, with the world hiking up their ASIC miners to process as fast as possible. Especially with talk of Elon Musk considering reinstating Bitcoin payments once the carbon emissions and energy consumption associated with bitcoin mining are decreased. But why the sudden rush? it is not just another bubble, it is about global economic sustainability and excelling cryptocurrencies. 

Where Is The Bitcoin Mining Rush Happening?

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

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

What Is Chinas’ Issue With Digital Currency Mining?

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

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

What Is Next For Chinese Miners?

Bitcoin mining is one of the most lucrative major industries in the world, yet many people don't know that Bitcoin mining generates just as much revenue as gold and silver extraction. The old Gold Rush might be waning, but Bitcoin miners are reaping the rewards of a new gold rush. The current generation shows entrepreneurial spirit unlike many before it, especially as the online era continues to expand. They see the market and trend associated with cryptocurrency and are ensuring they are involved in as many ways as possible. From trading on an exchange, accepting bitcoin for services, or using their computer to mine crypto. Blockchain technology is proving to be a leader in so many industries, even emission avoidance, so no issue should or will stop people from accepting and collecting it. 

Renewable Energy Countries 

The solution to China's electricity and energy consumption issues is not to stop cryptocurrency mining altogether, but rather for miners to move to more power conscious countries. This may not be so appealing for China itself, but it is proving to be the best option for miners. Miners may take a lot of energy and computer processing, but they also run very hot. So miners are looking for a country with a cheaper electricity cost to move to, with the added benefit of them being cold for an additional cooling process. Most countries that use renewable energy find their costs a lot lower than those that do not, this was even seen in China. Miners would run to the mountains of Sichuan, where abundant hydroelectric power made electricity services costs exceptionally cheaper per unit. 

Colder climates like Germany, Sweden, and Scotland are becoming increasingly more desirable countries of residency for crypto miners. Sweden is planning to be the world's first fossil fuel free country by the year 2040. Denmark has broken a wind power record, showing 43% of its electricity consumption being covered by wind; they also plan to be fossil fuel free by 2050. Germany is a leader in renewable energy, and in the first half of 2018 they proved that, by producing enough renewable electricity to power every household in the country for a year. Scotland is also joining the ranks of the greatest renewable energy countries. Scotland plans to build the worlds’ largest floating wind turbine farm, as wind power can generate 98% of Scotland’s electricity needs.

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

Risk Of Regulations

While the above-mentioned countries are great candidates for cryptocurrency and bitcoin mining, there are other problems to be wary of. Crypto regulations are just an issue among crypto miners, but also for exchange services. Each country has taken its own approach to enforcing cryptocurrency into its economy, but some may be trickier than others. VISAs are also another thing to take into consideration. Holiday VISAs are easily acquired, but moving your entire mining farm across borders may not be as easy. Would you need a work VISA? A residency VISA? That is up to each miner to find out. Germany has shown positive sentiment to cryptocurrency, considering it as legal tender, and allowing institutional funds to hold up to 20% in cryptocurrency. Denmark and Scotland have also shown interest in cryptocurrencies, considering tax policies to help their native traders and the economy. Miners may be susceptible to taxation, and VISA regulations, but they do not have to worry about being in a country that wants to get rid of cryptocurrency. This alone, in addition to renewable energy, are benefits to any crypto enthusiast. 

Bettering The Blockchain Process

Not only does renewable energy mining save the world and miners money, but it also advances blockchain in general. Projects and people are more likely to accept cryptocurrency and Blockchain when it doesn’t have such a high economic and environmental burden. Using a terawatt of renewable energy is far more efficient and cost-effective than using electricity powered by fossil fuels and coal. With the bitcoin and cryptocurrency mining rush continuing to rally up troops, we in the community need to make conscious decisions for both cryptocurrency and our planet. The process of excelling bitcoin and bitcoin mining starts at finding a computing process that consumes less energy. Whether the miners in China, or around the world, have this intent is not the issue, as long as the rest of the planet pushes them towards more eco-friendly options. It doesn’t start with the miners, they are simply the suppliers, its starts with what we demand, as seen by Mr. Musk. Let us make better choices for Blockchain, earth, and our national economies. 

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

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

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

How Are Cryptocurrencies Traded?

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

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

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

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

Where Can I Buy Altcoins?

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

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

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

Who Can Use Tap?

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

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

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

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It was only a matter of time before the crypto craze took over our lives. Some people use it in business transactions, while others are content with investing for long term growth

Crypto technologies are here to stay. The era where crypto was only for a specific circle of people is over and more companies are taking advantage of this steadily growing market.  More large corporations than ever before are willing to develop and invest in the advantageous market of cryptocurrencies.

The crypto-world is blooming with new developments, and it seems that developers in this field can't stop pumping out innovative updates. Skilled developers and talented specialists in this field are making exchanges more accessible with their innovative work, by turning simple tasks into ease of access for users around the globe.

Crypto banking has been the go-to for many people in need of an alternative to conventional banking. With its lack of certain features, it still provides all that is needed with crypto limitations taken care of and more!  Here's a look at some advantages of using this service over fiat currency.

The first thing you'll notice when comparing bank services side by side is how similar they can be despite being different types altogether; one might not work without another if both suit your needs well enough

Crypto banking is a revolutionary new way of doing banking. It has many advantages and disadvantages when compared with regular fiat banking. Let’s explore in more detail and analyse what are the advantage and disadvantages of crypto- banking.

The advantages:

Independent system   

Cryptocurrency, as a whole, is set to be free of reliance on outdated and archaic centralized economies allowing users to manage every aspect of it while giving them full control over its finance. There are no strings attached to trap you into a quagmire of peculiar circumstances.

Low withdrawal fees

Banks are generally charging a fee whenever you withdraw cash from an ATM or the terminal, while crypto banking enables you to withdraw cash for free up to a certain amount.

Withdrawal fees with crypto banking are one of the best features and a major step towards the future, they charge users as low as 0.01% for their transactions no matter how big the amount you try to withdraw is compared to conventional banks.

Openness

Crypto banking platforms have created opportunities for people who were previously shut out of traditional financial services. If you've credit score is low, it'll be hard to find a loan that's affordable and most banks don't offer good interest rates on their saving accounts either.

Higher returns rate

Crypto platforms offer high-yield savings accounts with rates that far exceed traditional ones, enabling their users to beat the inflationary effects. They also provide secured loans without a credit check and other financial services for people in need who are not considered eligible elsewhere.

Currency exchange

So, you’re exchanging your currency for another one? Well, that could cost as much as 4% - applied to a large amount that could be as high as 40£ for every 1000£ that you are converting! Crypto banking, on the other hand, provides an opportunity for you to exchange between various cryptos with a commission as low as 0.1% and conduct rapid peer-to-peer transfers that can be, depending on your plan, free of charge.

The cons

Online-based   

Crypto banking is based and operated online. It’s all about convenience with a quick and easy app for your smart device to control any of your operations in real-time. However, they might not be the best option for seniors or customers who are challenged with using these online services as they often need more personal attention than what this system offers them.   

Assets volatility

While cryptocurrencies have gained in popularity over the years, they remain volatile assets. Thankfully you can now use fiat currencies and stable coins with many crypto banking providers in order to eliminate this risk.

Conclusion:

In conclusion, crypto banking became an essential part of the global financial transformation happening worldwide. In view of the advancement pace it evolved at, we wouldn’t be surprised to see it prosper in the coming years, and infiltrate every aspect of our everyday life.  

As we explore the world of crypto assets, we take a look at the different types of crypto assets on the market and at the wide range of diversity in the new-age industry. As more people enter the market and start exchanging digital assets, the industry grows and expands to allow new variations.

Below we explore the vast diversity in the industry, from crypto assets used as money to ones that reward users for viewing a website. Each business offers a unique solution, and to navigate this we offer you guidance below.

What Are Crypto Assets?

The terms "crypto asset" and "cryptocurrency" can be used interchangeably. They both refer to a digital asset built using blockchain that can be transferred in a direct peer-to-peer manner. The first crypto asset to launch is Bitcoin, which entered (and created) the scene in 2009. Since then thousands of crypto assets have been created, each one with its own unique use case.

The Different Types Of Crypto Assets

While crypto assets might fall into one or more categories, each has its own set of rules and use cases. 

Payment-Focused

These crypto assets can be used to pay for everyday goods and services or as a store of value (in some cases). These include the likes of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), etc.

Stablecoins

Stablecoins are crypto assets that have their value pegged to a fiat currency or commodity. These crypto assets are designed to bypass the volatility synonymous with the crypto market. These include the likes of Tether (USDT) and USD Coin (USDC).

Privacy Coins

Privacy coins are digital assets that hide details of the transaction, such as the origin, destination and amount. These crypto assets offer untraceable monetary transfers. These include the likes of Monero (XMR) and ZCash (ZEC).

CBDCs

Central Bank Digital Currencies (CBDCs) are crypto assets built and maintained by banks. Used as digital currencies alongside the traditional currency, CBDCs are designed to provide a digital version of the local fiat to which the value is pegged. 

Governance Tokens

Common among decentralized finance (DeFi) protocols, governance tokens provide holders with a say in the platform and in future updates. 

Utility Tokens

Utility tokens will typically provide a service to the holder on the platform on which it was created. Commonly created using the ERC-20 token standard, utility tokens might represent a subscription on a platform or a use case specific to that ecosystem. 

Non-Fungible Tokens

Non-fungible tokens, also known as NFTs, are crypto assets that cannot be used interchangeably and instead hold unique and rare properties. Each NFT represents a singular function that cannot be changed.

How Are Crypto Assets Created And Distributed?

Before crypto assets are created the project's intentions are generally circulated through a white paper. In this white paper, the asset's tokenomics will be outlined which will cover how the asset is created and distributed.

Bitcoin, for example, uses a Proof of Work consensus which means that new coins are entered into circulation through miners solving complex mathematical problems. The network was designed to only ever have 21 million coins created, and new coins are slowly entered into the system each time a miner verifies and adds a new block to the blockchain. 

Ethereum on the other hand has no limit to the number of ETH that can be created. The platform is currently moving from a PoW to a Proof of Stake consensus, which alters the way in which transactions are verified, however, new coins still enter circulation through verifying transactions. 

XRP minted all its coins prelaunch and slowly release them into the system through a central authority while Tether creates USDT on demand. For each $1 sent, 1 USDT is created, which can later be removed from circulation should it be sold. 

The Future Of Crypto Assets

With the ICO Boom in 2017, the DeFi boom in 2020 and the more recent NFT Craze, crypto assets aren't going anywhere. With constant innovation and increasing adoption, crypto assets have become an integral part of the modern day financial landscape.

While mainstream adoption is on the rise, a few wrinkles still need to be ironed out. For one, regulatory bodies around the world are working toward creating legal frameworks in which these crypto assets can exist, while centralized banks are exploring whether CBDCs can co-exist with their physical counterparts. While the world seeks to figure these out, one this is for certain: crypto assets are here, and the industry is becoming bigger by the day. 

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