Learning the friendly way

Hey there, Community! ✨

We've got some exciting news to share, and it's all about making your life a little bit easier and a whole lot clearer. We're thrilled to announce our partnership with TapiX – and before you wonder what this is all about, let me break it down into plain English, just for you.

No More Guessing Games 🎲

Ever looked at your transaction history and thought, "Where on earth did I spend that money?" We've all been there, scratching our heads, trying to decipher cryptic names or puzzling out just which coffee shop that was.

Here's where TapiX comes in – and why we're so excited about it. TapiX turns those confusing codes and names into information you can actually understand. We're talking real names of stores, complete with local language and all the details to make it click instantly. Yes, that means no more guessing games!

A Picture Speaks a Thousand Words 📷

But why stop at names? When you look at your transactions, you can now see actual logos and images – making it even easier to spot at a glance where you've been shopping. It's like turning your transaction history into a colourful gallery of your spending habits.
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Pinpoint Shopping Locations📍

Ever got a charge from a store and wondered, "When did I go there?”. Now, you won't just see the name; you'll get the exact location. We're talking street address, city, even zip codes – perfect for those "Aha!" moments.
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Extra Details at Your Fingertips 🫰

And there's more. Want to revisit a store but can't remember the name? You can now access additional details like website links, opening hours, and more for the store and companies that support it. It's like having a little assistant tucked away in your transaction history.

Why This Matters to You 👀

We believe managing your money should be as straightforward as shopping. That's why we partnered with TapiX – to transform your transaction list from a boring spreadsheet into a clear, understandable, and even helpful part of your daily life.

Here's what it boils down to: less time puzzling out your past spends and more time enjoying your present. Whether you're a budgeting pro or just trying to keep track of where your money's going, we think you'll love this new feature.

It's All About You 💙
At Tap, everything we do is aimed at giving you a better experience. We listen, we care, and we act on what you need. This partnership? It's all about making your financial life clearer and simpler.

We're here to help you make sense of your spending, save time, and maybe even discover some new favourite spots along the way. And this is just the beginning – we're always looking for ways to improve your experience.

So go ahead, take a look at your updated transaction history, and see the difference for yourself.

Here's to clearer, simpler, and more enjoyable finances.

Warmly,

The Tap Team.

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Tap, announces a temporary suspension of XTP locking/fees payment for all its users, reflecting a steadfast commitment to regulatory compliance and global collaboration.

In alignment with our regulatory-first vision, Tap announce the temporarily suspending XTP locking and fee payment in XTP. This strategic move reflects our dedication to regulatory compliance in every aspect of our operations.

At Tap, we prioritize responsibility alongside innovation. This temporary suspension underscores our commitment to regulatory compliance and our ability to effectively serve all our users in the United Kingdom, aligning with the new FCA regulations set in place.

In accordance with the Financial Conduct Authority's (FCA) financial promotion rule, we regret to inform our UK residents that the utilization of XTP for locking or payment is temporarily suspended. The FCA has classified the use of digital assets for obtaining discounts as a financial incentive, thus preventing its extension to any UK resident.

The temporary suspension of services in the UK has necessitated a pause in functionality across our entire platform due to its unified nature. Nevertheless, our team remains unwavering in our commitment to restoring Locking/Paying Fees in XTP for our global community. 

While this transition may present temporary challenges, it also represents an opportunity for growth and collective progress.

We extend our heartfelt appreciation to our users for their unwavering support and patience as we navigate through this transition. Rest assured, Tap remains steadfastly committed to delivering an unparalleled digital asset experience that is compliant, secure, seamless, and transformative for users worldwide.

TAP Partners with Notabene to Implement Innovative Solutions Ensuring Adherence to Cryptocurrencies’ Travel Rule

Tap is proud to announce its new partnership with Notabene, in a concerted and strategic response to strengthen its compliance operations, by utilizing the market-leading solutions to ensure ongoing compliance with the Travel Rule for cryptocurrencies. Embracing the ever-evolving regulatory landscape, this partnership underscores TAP's dedication to ensuring consumer trust and guaranteeing pre-transaction regulatory compliance requirements at all times.

Tap has always taken pride in its regulatory-first approach, emphasizing the importance of consumer trust and operational transparency. Tap's decision to partner with Notabene is grounded in a multitude of strategic rationales. Notabene's all-encompassing SafeTransact platform, renowned for its excellence in identifying and mitigating high-risk activity before it occurs, provides compliance teams with the tools to make data-driven choices and enhances operational efficiency by seamlessly integrating the Travel Rule into compliance processes.

Notabene's notable offering includes its SafeGateway solution, which facilitates VASP-to-VASP interaction across protocols. This positions them as strong contenders in the cryptocurrency compliance solutions sector. This underscores why TAP views this partnership as a positive step toward maintaining a competitive edge in the fintech compliance landscape.

Comment from Kriya Patel, CEO of Tap

“I am delighted to be able to announce our strategic partnership with Notabene and I look forward to growing the relationship together whilst navigating through to meeting and maintaining our current and future regulatory requirements in our industry. 

The partnership with Notabene was a natural one. They share the same values as Tap by focusing on  customer-driven product needs, whilst allowing us to maintain a regulated and security-first approach.”

Comment from Pelle Braendgaard, CEO of Notabene

"We are pleased to collaborate with Tap, their commitment to compliance and customer trust aligns seamlessly with our mission. Together, we can advance the industry while ensuring the highest standards of security and transparency."

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Welcome to the delicious world of cookies! But hold on, we're not talking about those sweet treats you munch on during tea time. We're here to unveil the mysterious and oh-so-important cookies that exist on the vast landscape of the internet. 

These cookies aren't tangible, instead, they're small pieces of data that roam around cyberspace, shaping and enhancing your online experience. In this article, we break down what cookies are exactly and how they impact our online interactions. 

What are cookies?

These digital marvels play a vital role in enhancing our online experiences. So, what exactly are cookies and why does your computer store them?

When you're hopping from one website to another, your computer keeps a small file on behalf of each website you visit. This file is the cookie. The name "cookie" actually comes from a programming term called a magic cookie, coined by the programmer, Lou Montulli, and adds flavour to your online adventures.

But why do computers store these little files? Cookies help web servers remember you, ensuring a smooth and personalised browsing experience. Let's say you perform an action on a website, like switching to a dark mode or logging in with your credentials. Your computer takes note of this and saves the information in a cookie.

When you revisit that website in the future, your computer hands back the stored information from the cookie to the website. It's as if your computer is acting as a helpful assistant, reminding the website of your preferences, saved settings, and even items left in your virtual shopping cart.

The bottom line is that cookies are an integrated service that allow for a seamless and tailored browsing experience. 

The different types of cookies

As with its baked goods counterpart, not all cookies are created equal. Each type serves a unique purpose in enhancing your online experience. Here's a breakdown of the most common cookie varieties:

Session cookies

These are temporary cookies that exist only during your browsing session. They hold information about your activities on a website, ensuring smooth navigation. Once you close the browser, session cookies vanish, leaving no trace behind.

Persistent cookies

Unlike their transient cousins, persistent cookies stick around even after you close the browser. They store information like login details or preferences, making your return visits more personalised and convenient.

First-party cookies

These are created by the website you are visiting. They help to remember your preferences and settings, making your browsing experience smoother.

Third-party cookies

These cookies come from external sources, often embedded in the website you're visiting. They track your browsing habits, allowing advertisers to deliver targeted ads based on your interests.

Cookie consent and those pop-up banners

When you visit a website, you may have noticed those cookie consent banners or pop-ups that demand your attention. Turns out they are quite important. Implementing these notifications helps websites comply with data protection regulations and respect your privacy. 

They also play a vital role in helping users understand the importance of giving consent and being aware of how their data is used. So, next time you encounter a cookie consent banner, remember it's there to protect your rights and ensure transparency in the online world.

How cookies track and analyse your behaviour

Cookies have become a powerful tool for tracking and analysing user behaviour on websites. They enable website owners to gather valuable analytics data and gain insights into visitor patterns and preferences. 

By utilising cookies, website administrators can track the number of page views, monitor the time users spend on their site, and gain a deeper understanding of how visitors interact with different elements. This data helps them optimise their websites, improve user experience, and tailor content to suit audience preferences. 

On top of that, cookies also play a crucial role in targeted advertising, allowing marketers to display ads based on users' browsing habits and interests. So, the next time you encounter a personalised ad, you can thank those little, but mighty, cookies for their clever insights.

How you can manage your cookies

Managing and controlling useful cookies gives you more control over your online privacy. Through browser settings, you can choose to accept, reject, or delete cookies. Taking control of your cookie preferences allows you to customise your browsing experience and limit the data collected by websites. 

Additionally, various cookie management tools are available, making it easier to handle cookies across different websites. It's important to understand the implications of accepting or rejecting cookies, as it can affect website functionality, personalised experiences, and even the relevance of advertisements. Find the right balance that suits your privacy preferences and browsing needs.

Conclusion

In the vast realm of the internet, cookies are the unsung heroes that make our online experiences seamless and personalised. These small files, stored by our computers on behalf of websites, play a crucial role in remembering our preferences, settings, and actions. 

So, the next time you encounter a cookie consent banner or notice the personalisation of a website, you'll know it's all thanks to these small but mighty digital gems called cookies. 

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Η αύξηση των εκτιμήσεων δείχνει ότι η παγκόσμια οικονομία ενδέχεται να κατευθύνεται προς ύφεση το 2023. Αυτό συμβαίνει καθώς οι κυβερνήσεις σε όλο τον κόσμο εξακολουθούν να αντιμετωπίζουν αυξανόμενα χρέη και αργή οικονομική ανάπτυξη, παρά τα τεράστια πακέτα δημοσιονομικής στήριξης.

Στο μεταξύ, οι εταιρείες αντιμετωπίζουν εμπόδια από την αλλαγή στις προτιμήσεις των καταναλωτών, την τεχνολογική αναστάτωση και την κλιμάκωση των εμπορικών εντάσεων.

Όλοι αυτοί οι παράγοντες έχουν εντείνει τις ανησυχίες για το αν η τρέχουσα οικονομική επέκταση μπορεί να διατηρηθεί σε βάθος χρόνου. Παρακάτω εξετάζουμε την πιθανότητα μιας επερχόμενης οικονομικής ύφεσης και σας καθοδηγούμε για το πώς να προστατέψετε τις αποταμιεύσεις και τις επενδύσεις σας, αν έρθει μια τέτοια περίοδος.

Προχωράμε προς ύφεση το 2023;

Σύμφωνα με οικονομική έρευνα από την Bloomberg, οι οικονομολόγοι έχουν προβλέψει 70% πιθανότητα ύφεσης το επόμενο έτος, από 30% που ήταν η πρόβλεψη τον Ιούλιο του προηγούμενου έτους. Αν και δεν πρόκειται για τον τεχνικό ορισμό, η ύφεση συνήθως συμβαίνει μετά από δύο συνεχόμενα τρίμηνα αρνητικής οικονομικής ανάπτυξης, κάτι που είδαμε και πέρυσι.

Παρά τα επιτόκια και τον πληθωρισμό, η ζήτηση των καταναλωτών έχει μειωθεί. Μετά από δύο χρόνια ενίσχυσης των προσλήψεων, η δραστηριότητα αναζήτησης εργασίας υποχωρεί. Οι χρηματιστηριακές αγορές σημείωσαν πτώση περίπου 20% το 2022, με εκτιμήσεις που δείχνουν περαιτέρω πτώση το 2023. Παρόλο που αυτά τα στατιστικά ενδέχεται να προκαλούν πανικό, θυμηθείτε ότι οι υφέσεις είναι μέρος του φυσικού οικονομικού κύκλου.

Στην πραγματικότητα, υπήρξαν δεκατρείς υφέσεις από τον Β΄ Παγκόσμιο Πόλεμο, κάθε μία με μέση διάρκεια 10 μήνες, και όλες ανακάμπτουν. Με τις κατάλληλες προετοιμασίες, μια οικονομική ύφεση μπορεί να προκαλέσει ελάχιστη ζημιά στους οικονομικούς σας στόχους.

Πώς να επιβιώσετε από μια ύφεση με ελάχιστη ζημιά (υπόδειξη:ταμείο έκτακτης ανάγκης)

Πρώτον και κύριο, δημιουργήστε το ταμείο έκτακτης ανάγκης πριν η ύφεση γίνει πλήρως αισθητή. Αυτό συνεπάγεται την αποταμίευση χρημάτων για να δημιουργήσετε ποσό που να καλύπτει τρεις έως έξι μήνες εξόδων, το οποίο μπορείτε να χρησιμοποιήσετε για οποιοδήποτε απρόβλεπτο κόστος προκύψει κατά τη διάρκεια οικονομικής επιβράδυνσης. Η δημιουργία ενός ταμείου έκτακτης ανάγκης είναι ο πιο σίγουρος τρόπος για να προστατεύσετε τις επενδύσεις σας και να θωρακίσετε τα οικονομικά σας κατά την ύφεση.

Επιπλέον, οι ειδικοί συνιστούν να αναβάλλετε οποιαδήποτε μεγάλα έξοδα, ειδικά πολυτελή αγαθά, και να δημιουργήσετε (και να τηρήσετε) έναν προϋπολογισμό. Αναζητήστε χρήσιμες συμβουλές εξοικονόμησης χρημάτων και ενσωματώστε τες στην καθημερινή σας ζωή. Αυτές οι συμβουλές μπορεί να σας βοηθήσουν να εξοικονομήσετε χρήματα πέρα από την οικονομική αβεβαιότητα και να αντισταθμίσετε την αύξηση του κόστους ζωής. Σκεφτείτε δημιουργικούς τρόπους για να αντιμετωπίσετε την οικονομία και να μειώσετε τα έξοδα.

Πώς να διαχειριστείτε τα χρέη σε μια οικονομική κρίση

Αν έχετε σταθερή δουλειά, ξεκινήστε σήμερα κιόλας να αυξήσετε τις πληρωμές σας για να εξαλείψετε τα χρέη σας. Μην υποτιμάτε την ελευθερία που προσφέρει η απουσία χρεών, όχι μόνο οικονομικά αλλά και ψυχολογικά. Μόλις τα εξοφλήσετε, θα έχετε περισσότερο χώρο στο ισοζύγιό σας για να ανταπεξέλθετε στην αύξηση των επιτοκίων και του κόστους ζωής που συνήθως συνοδεύουν τις υφέσεις.

Αν χάσετε τη δουλειά σας, προσπαθήστε να ελαχιστοποιήσετε τις πληρωμές χρεών που δεν είναι απολύτως απαραίτητες και επικεντρωθείτε στο να έχετε αρκετά χρήματα για να καλύψετε τις τέσσερις βασικές ανάγκες: φαγητό, λογαριασμούς, στέγη και μεταφορές. Αν σας μείνουν χρήματα, βάλτε τα σε έναν λογαριασμό αποταμίευσης, ειδικά αν δεν έχετε δημιουργήσει ακόμη το ταμείο έκτακτης ανάγκης.

Ό,τι και αν γίνει, μην προσθέσετε περισσότερα χρέη. Τα χρέη με υψηλά επιτόκια θα κάνουν την κακή κατάσταση χειρότερη. Σκεφτείτε να συμβουλευτείτε έναν πιστοποιημένο οικονομικό σύμβουλο αν δεν είστε σίγουροι.

Πώς να θωρακίσετε τις αποταμιεύσεις σας από την ύφεση

Αν έχετε ακόμη τη δουλειά σας, συνεχίστε να αποταμιεύετε χρήματα και να χτίζετε τα διαθέσιμα μετρητά σας. Μην αφήσετε τις οικονομικές ύφεσεις να σας εμποδίσουν να προχωρήσετε προς τους οικονομικούς σας στόχους. Ιδανικά, έχετε δημιουργήσει το ταμείο έκτακτης ανάγκης για να καλύψετε προσωπικές ζημιές και να καλύψετε τα έξοδα διαβίωσής σας.

Αυτό σας επιτρέπει να καταθέτετε το συνηθισμένο ποσό αποταμίευσης σε έναν λογαριασμό που αποδίδει τόκους χωρίς να ανησυχείτε για το "τι θα γίνει αν". Τώρα είναι επίσης μια καλή στιγμή για να αναθεωρήσετε τον προϋπολογισμό σας και να κατανείμετε κάθε ευρώ σε μια σκοπούμενη κατεύθυνση.

Αν υπάρχουν χρήματα που περισσεύουν, βάλτε τα στις αποταμιεύσεις ή στον λογαριασμό συνταξιοδότησης. Αν όχι, αναθεωρήστε τον προϋπολογισμό σας για να δείτε πού μπορείτε να μειώσετε τα έξοδα και να γεμίσετε το "βάζο" της αποταμίευσης.

Πώς να διαχειριστείτε τις επενδύσεις σας στη χρηματιστηριακή αγορά κατά την ύφεση

Ο χρυσός κανόνας για τη διαχείριση των επενδύσεών σας κατά την ύφεση είναι να μην πουλήσετε με ζημιά. Ξανά και ξανά βλέπουμε επενδυτές να κάνουν συναλλαγές υπό τον φόβο, και τελικά να υποστούν μεγάλες ζημιές, ενώ οι συνάδελφοί τους που κράτησαν τα χρήματά τους στις χρηματιστηριακές αγορές βλέπουν εντυπωσιακές αποδόσεις όταν η οικονομία επιστρέψει στην κανονικότητα.

Θυμηθείτε: οι ζημιές γίνονται πραγματικές μόνο όταν αποσύρετε τα χρήματα από τις επενδύσεις σας. Αφήστε τα εκεί, καθώς όπως και κάθε οικονομικός κύκλος στην ιστορία, η κατάσταση θα βελτιωθεί. Και αν έχετε τα χρήματα, σκεφτείτε να επενδύσετε λίγο παραπάνω – οι τιμές της χρηματιστηριακής αγοράς θα είναι σε "εκπτώσεις".

Άλλη πολύτιμη συμβουλή είναι να μην κάνετε απότομες αλλαγές στη στρατηγική των επενδύσεών σας, εξετάστε την επένδυση ως μια μακροπρόθεσμη προσέγγιση. Κάποιοι μακροπρόθεσμοι επενδυτές ενσωματώνουν μετοχές από εταιρείες βασικών καταναλωτικών αγαθών στα χαρτοφυλάκιά τους ως στρατηγική για να ξεπεράσουν τις πτώσεις της αγοράς.

Επενδύοντας σε κεφάλαια όπως το Consumer Staples Select Sector SPDR Fund ή το Vanguard's Consumer Staples ETF, η ελπίδα είναι ότι η επιτυχία αυτών των κεφαλαίων θα αντισταθμίσει τις ζημιές από άλλες μετοχές του χαρτοφυλακίου.

Αποφύγετε τον φόβο και την αβεβαιότητα και προετοιμαστείτε

Ανεξάρτητα από την οικονομική κατάσταση που θα προκύψει, να είστε βέβαιοι ότι θα περάσει. Αν διαβάζετε αυτό το κείμενο, πιθανότατα έχετε περάσει από αρκετές υφέσεις στο παρελθόν και έχετε βγει νικητές. Μην αφήσετε καμία ανησυχία να σας εμποδίσει να προετοιμαστείτε για μια ύφεση – άλλωστε, αυτές οι συμβουλές για το πώς να θωρακίσετε τα οικονομικά σας είναι η καλύτερη ευκαιρία να βγείτε και πάλι στην κορυφή.

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Digital currencies are propelling the banking industry into a period of rapid innovation. As digital currencies continue to immerse themselves in the greater financial landscape, businesses incorporating cryptocurrencies are reaping the benefits from the forefront of this new revolution. This article addresses everything a small to mid-size business needs to know about crypto banking and how to leverage this new-age technology. 
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What is crypto banking?

The term "crypto banking" refers to the management of one's crypto assets by a third-party financial institution. Similar to how traditional banks manage services pertaining to fiat currency, a crypto bank would manage all services relating to cryptocurrencies.
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These crypto banking services typically allow users to hold a balance, make payments with a crypto debit card and earn interest on a supported crypto asset through crypto interest accounts, also known as crypto savings accounts. Some platforms might also offer loan services and crypto interest accounts, also known as crypto savings accounts.
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Due to regulatory restrictions imposed on these fintech companies and the crypto market, it is common for these types of institutions within the financial sector to operate in certain jurisdictions like the United Kingdom or the United States of America. This is not uncommon for traditional banks either.
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A crypto bank is not typically a crypto exchange, instead, it is defined as a fintech platform operating in the crypto banking space. Providing services for both fiat currency and digital assets, crypto banks are revolutionizing the financial institution sector.
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What are the benefits of incorporating crypto into your business?

With over 320 million customers around the world shopping with cryptocurrencies, incorporating digital assets into your payment options allows you to tap into this broad group of consumers.
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Additionally, the advantages of crypto payments outweigh fiat transactions in a number of ways, providing a more secure and faster means to send money across borders (or simply next door). These include:
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• More rapid transactions
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• More cost-effective transactions
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• Accessibility
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• Security
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• No chargebacks (all transactions are final)
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• Reduced fraud
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Data suggests that an increasing number of businesses are starting to explore crypto payments, where employees can earn either their full salary or a part of it in digital assets in remuneration for their job. Some remote workers are even maintaining a career solely relying on crypto payments, hence the rise in crypto banks and crypto banking services.
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Crypto banking, payment gateways, and businesses

Through crypto banking services or payment gateways, businesses are able to receive payments in digital assets and instantly convert them into fiat should they wish to do so. It's important to note that these services go beyond the services of that a normal crypto exchange might offer.
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Some crypto service providers will allow businesses to make crypto payments directly from their account, however, until this becomes normalized business owners often chose to convert their digital assets due to concerns over volatility and cash flow. 
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Below we cover the most pressing questions concerning small to medium-sized businesses incorporating crypto assets into their business models and how to effectively use crypto banking services to streamline this. 
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Crypto Banking Services and Small Businesses 

Can small businesses use cryptocurrency?

Whether you’re conducting a few transactions a week or several hundred a day, cryptocurrencies provide an ideal payment solution. With minimal fees and no foreign exchange rates, accepting crypto payments is a cost-effective solution for small businesses, especially ones operating with a global customer base. 
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By engaging in crypto banking services offered by a reputable crypto bank, businesses can manage cryptocurrency with the same ease as a traditional bank account.
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Why do small businesses use crypto?

Small businesses will typically incorporate cryptocurrencies into their payment methods as a cost-effective solution as well as an opportunity to tap into a broader target market. With minimal transaction fees, short processing times, and heightened security, crypto transactions provide a perfect solution for small businesses. By adding crypto payments to their menu, many businesses are gaining an edge over their competition.
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With the innovation that crypto banks are bringing to the forefront, small businesses can bypass the high fees associated with crypto exchanges and instead tap into crypto banking services at a more realistic price point.
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Crypto as a Business Expense 

Can crypto be a business expense?

For any size business, understanding the tax implications of accepting cryptocurrency payments is crucial. While it's important to understand the tax rules in your area, consulting a tax professional will likely be in your best interest. 
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Businesses can also opt to incorporate crypto tracking software or crypto tax software in their business models to ensure that they are compliant. Please consult your tax professional regarding any questions you might have about being taxed on crypto in your country before engaging in any crypto banking or opening a bank account with a crypto bank.
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Can I buy crypto as a business expense?

As each country’s laws on taxing cryptocurrencies differ, it's best to consult a tax professional in your area who can properly advise. While you don't need a degree in tax to manage a business, gaining an education on the implications of the taxation of cryptocurrencies will do you, as a business owner accepting cryptocurrencies, a world of good. Reach out to your crypto bank or look to crypto companies for recommendations.
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Crypto as Business Investment 

Can businesses invest in crypto?

Yes, it has become increasingly common for businesses of all scales to invest in cryptocurrencies. Due to the high returns that Bitcoin and other cryptocurrencies have presented over the years and its strong ability to store value paired with the increasing adoption of digital currencies as payment methods, many businesses have chosen cryptocurrencies as a viable investment option. 
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With the rising popularity of crypto lending, many businesses are using their digital currency investments to generate wealth. Operating in the same way as traditional savings accounts, businesses can store their digital currency in an interest-generating account that provides returns.
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However, before investing in cryptocurrencies we encourage you to conduct thorough research on the topic and decide if it suits your business’s financial goals and business plan. 
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Can my LLC invest in crypto assets?

Limited Liability Companies (LLCs) provide the best of both worlds: access to the liability shield typically associated with corporations and the tax benefits found in partnerships or sole proprietorships. With this being said, it’s best to check on the cryptocurrency laws and tax implications in your area before engaging in any crypto investments. 

Businesses and Crypto Wallets 

Can a business hold a crypto wallet?

Yes, anyone can open a crypto wallet. When looking to incorporate cryptocurrencies or any crypto financial services in your business opening a wallet is a must. Consider what your business intends to do with the cryptocurrencies (i.e. will you be making daily transactions or storing funds long term) and choose an appropriate wallet. 
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Can I set up a crypto wallet for my business?

Any company can set up a business account and crypto wallet with Tap. Tap provides businesses operating within the digital asset sector with dedicated IBANs allowing for access to international payments, settlement and trading services for both stablecoins and cryptocurrencies. Businesses also gain access to dedicated account managers and support. 
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How do I set up a crypto wallet business account?

To set up a crypto wallet business account with Tap, anyone from the company can fill out this form and a dedicated account manager will get back to you in 1 to 2 working days. 
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Paying Employees with Crypto

Can I pay my employees with crypto?

Yes, cryptocurrencies can be used to pay employees’ salaries in most countries. Before going ahead with the process ensure that you have done adequate research about crypto payments in your area and are familiar with the rules and regulations. I.e. some states require employers to pay the minimum wage in USD and the remainder in cryptocurrencies. 
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Crypto and Business Operations

What is a crypto business account?

A crypto business account is an account from which a business can manage its cryptocurrencies. While crypto business accounts might vary from platform to platform, the basis is that the account will allow a business to buy and sell cryptocurrencies and hold a balance. 

Tap’s business account also provides companies with access to trading facilities, a wide range of crypto wallets, the ability to pay external accounts, passive income generation, and a dedicated account manager. 
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How is crypto taxed for business?

Typically, cryptocurrency income is taxed as regular income tax, however, a business must do adequate research on the matter to determine the tax implications of accepting and investing in cryptocurrencies in your country. We always recommend contacting a tax professional that specializes in cryptocurrencies in your region. 
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How do I report crypto as business income?

You will need to find the relevant tax rules in your area to determine how to report crypto as a business income. Countries will typically require a specialized crypto tax form when declaring crypto income. Remember, it is a criminal offense to not declare the appropriate earnings. 
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Should my business start accepting cryptocurrency?

By embracing cryptocurrency as a payment option, you can lower your transaction fees, safeguard yourself from costly chargebacks and broaden your customer base to better suit their inclinations. This will not only help strengthen the security of your business but is also guaranteed to expand its reach in today's market.

Accepting cryptocurrencies might not be appropriate for every business model, so ensure that the payment option fits into your business model. 

How can a business accept crypto payments?

In order to accept cryptocurrencies you will need to provide your wallet details or QR code in your payment options. Installing crypto payments into your online store is seamless and straightforward, simply find the appropriate plug-in or app compatible with your e-commerce platform. If this option isn't accessible, businesses can add the code from their wallet in HTML.

Can I buy crypto with my LLC?

LLCs are legally allowed to own and trade cryptocurrencies in most countries, however, you will need to confirm with the relevant laws in your area. Businesses can open a crypto wallet in the LLC’s name and purchase the funds directly or transfer the funds from a personal wallet. Alternatively, one can open a business account with Tap and gain access to a wide range of crypto services for your business including a dedicated account manager and support. 

Businesses and Crypto Accounts

How do I buy a crypto account for my business?

Setting up a business crypto account can be done in one simple step. Simply complete the form here and a dedicated account manager will get in touch with you within 1-2 working days and personally guide you through the process. You will be required to provide proof of identity and several business documents. While gaining access to a wide range of crypto services there are no fees associated with opening the account. 

Can you open a crypto bank account for a business?

Yes, absolutely. Setting up a business crypto account with Tap is simple and straightforward. All you need to do is fill out this form and a dedicated account manager will get in touch with you to guide you through the process best suited to your business needs. 
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Can I open a crypto account for my business?

Yes, absolutely. Opening a crypto business account with Tap is very simple. All you need to do is fill out the form and you will be contacted by one of our knowledgeable account managers who will help you find the right solution for your company's needs.