It is not every day you see a crypto project that really solves a critical problem, most of the current crypto startup are only using blockchain to solve a problem that already have a non blockchain-based solution. Like most people I believe the cryptocurrency is still facing many problems, I really feel these problems are hindering the mass adoption of cryptocurrency and blockchain at large.
TAP I believe is an effort to solve a very pressing issue facing cryptocurrency, am not going to write about the project here am only going to give reasons why I think TAP is that solution cryptocurrency needs. feel free to visit their website if you want to know more about them.
Here goes my reasons. enjoy the ride.
- TAP guarantees a seamless interconnectedness with modern banking facilities and major crypto exchanges platform. The middleware app comes with an ATM card linked to users TAP account. With it users can use any crypto asset in TAP account to fund any card purchase.
- TAP’s app does all the heavy lifting for the users. Constantly checking the prices of crypto trading pairs across major exchanges as well as crypto to FIAT pairs, it will get the best price with any pair. The app can do this across major exchanges and supported currencies this implies that as TAP’s user base increases, inefficiencies in the market will be eliminated.
- With TAP card users can use any asset to pay for anything, be it a coffee or a holiday. TAP aims to eliminate any financial borders and allow user to send any FIAT or crypto asset to anyone anywhere in the world for free, and to ensure availability of that asset.
- TAP guarantees a simple registration and KYC process, new investor can fund their TAP account with either a bank transfer or debit card payment for free. Once funded they can purchase any crypto currency on TAP platform and at spot rate for a maximum fee of 1.5% through the app. And all this can be done within 3 seconds.
- Even when this trade is performed across exchanges! Any supported currency (FIAT or crypto) can be used to purchase any other supported currency at a spot rate and fulfilment is instant. The investor can continue his day without closely managing trades. There is currently no exchange that offers instant ALT to ALT fulfilment combined with cross exchange/currency arbitrage to ensure the best possible price.
- Transactions are run through the hot wallets / liquidity pool, with funds adjusted in the customer’s cold storage account to return funds to the liquidity pool.
- TAP have connections with exchanges and with card providers to facilitate instant transaction. This allows the app to execute any trades instantly without having to wait for funds to be moved. Trade can be completed in less than 3 seconds and card acquisition are possible with crypto.
- With the card users can make transaction anywhere a debit card is accepted and withdraw cash from ATM machines. All crypto assets will be kept in offline/cold multi signature wallet with high grade security. This is in line with market-leading security. Additionally whichever card provider we partner with results in our customers benefiting from market leading anti-fraud detection. Location based fraud protection. If the location of user card is different from the location of user phone, the card can be deactivated. Deactivation of the card can be done in the app so that if users lose their card or are not using it for a while it can be stopped to prevent fraud. And instantly change PIN should incase the card has been compromised
More information about TAP project is available at below sites –
Website: http://www.tapngo.io
Telegram: http://t.me/tapngoofficial
Medium: https://medium.com/@tapngo.social
Reddit: https://www.reddit.com/r/TAP_Official/
Twitter: https://twitter.com/tapofficial1