Learning the friendly way

We are delighted to announce the listing and support of ApeCoin (APE) on Tap!

APE is now available for trading on the Tap mobile app. You can now Buy, Sell, Trade or hold APE for any of the other asset supported on the platform without any pair boundaries. Tap is pair agnostic, meaning you can trade any asset for any other asset without having to worries if a "trading pair" is available.

We believe supporting APE will provide value to our users. We are looking forward to continue supporting new crypto projects with the aim of providing access to financial power and freedom for all.

ApeCoin is an ERC-20 utility and governance token used within the APE ecosystem. The founding roots of ApeCoin lie in the NFT series Bored Ape Yacht Club (BAYC), a creation by Web3 company Yuga Labs.

ApeCoin, the fungible token, and a number of products and services make up the ApeCoin ecosystem. The coin is governed by the ApeCoin DAO, of which all token holders are eligible to become members. The ApeCoin DAO makes decisions on matters such as governance rules, partnerships, projects, Ecosystem Fund allocations, and more.

ApeCoin grants holders access to exclusive games and services within the Ape Ecosystem and can be used for transaction purposes on the Otherside metaverse. It also acts as a tool in which third-party developers can tap into the Ape Ecosystem by incorporating APE into their own projects, games, and services.

Get to know more about ApeCoin (APE) in our dedicated article here.

We might all view success differently, but at the end of the day, we want to have enough money to allow us to live debt-free, stress-free, and with a positive retirement ahead of us. While we’re not advocating that being a millionaire is the be-all and end-all, we are looking to them to see what small changes we can implement into our lives to better steer our own financial paths. 
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A few basic principles of self-made millionaires

Below we explore 5 habits that the average millionaire does, according to a plethora of data collected by Tom Corley. Over five years he asked 233 millionaires 20 broad questions (and 144 sub-questions) concerning their daily activities. These were the results. 
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1. They never stop learning

U.S. President Harry Truman is known for saying, "Not all readers are leaders, but all leaders are readers." Self-made millionaires prioritize learning and self-improvement, with 49% saying that they spent a few minutes every day learning new words. 61% said that they spent at least two hours a day practicing new skills.
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Reading plays a vital role in this process, with 71% often reading self-help books while 63% said listened to audiobooks during periods of commute. It was noted that most of the case studies admitted to reading biographies of successful people, typically wealthy people who had built something from the ground up.
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Health was another top priority. 
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2. They are aware of their weaknesses, and delegate accordingly

86% of the millionaires interviewed worked an average a minimum of fifty hours a week. While the hours are impressive, these millionaires committed time to build and surround themselves with great teams. They focused on their strengths and outsourced their weaknesses. 
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No one is a jack of all trades, and these successful individuals honed in on identifying and accepting their weaknesses. Most millionaires noted that if they didn't possess a particular skill, they delegated the task to someone that did, freeing up time and energy. 
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3. They're not afraid to dream big

Millionaires are not confined to small-space things and actively work on setting and implementing their dream lives. While financial moves are calculated, and rarely based on instant gratification, they also allow space to think outside the box and pursue dreams that others might try to deter them from.
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With a solid mindset and the right determination, most of these millionaires were able to achieve their dream goals. According to Corley's data, many of the participants in the study used the "Dream-Setting" strategy where they sit down and write out what they want their day-to-day life to look like in 10 years' time. The results didn't arrive overnight, but for many, it did materialize in the years to follow.
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This strategy is used by coaches around the world to assist their clients with building wealth and ultimately reaching a million dollar net worth. While people tend to associate rich people with lavish lifestyles, the reality is that a lot of them can be found living in a modest neighborhood wearing inexpensive clothes and driving modest cars. It's the money habits that matter.
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4. They listen more than they talk

Over the course of the study, several strategies kept appearing. One of them was the "5:1 listening rule". This involves listening for five minutes for every one minute that you talk. This strategy is known to provide a variety of perspectives and strengthen work relationships. 
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In fact, 81% of the participants said they make a daily habit of actively seeking feedback from others within and outside of the workplace. 
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5. Millionaires create their own opportunities

The Roman philosopher Seneca is attributed with saying, "luck is what happens when preparation meets opportunity." While 94% of the participants firmly stated they would never gamble, most of them had the skill to see what others couldn't, and act on it. Whether it be through innovative routes to success or creative solutions, these millionaires were able to build their own "luck". 
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Eventually, with consistent effort comes immense opportunity. If you keep pursuing your goals and never give up on your dreams, luck will eventually find its way to you.
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The habits of wealthy people

If your goal is to build wealth, whether to retire comfortably or impact future generations, consider these habits that self-made millionaires have adopted and consider incorporating some or all of them into your daily living. While wealthy people might not be the greatest role models, self-made millionaires certainly know a thing or two.

A common misconception for people outside of the crypto community is that cryptocurrencies are used for illicit and fraudulent activities. While a decade ago, cryptocurrencies were largely associated with the dark web and drug trafficking, these days the modern crypto landscape is much more regulated.

In fact, most countries these days have integrated rules and regulations pertaining to the use of cryptocurrencies, from conducting business with crypto to outlining the tax requirements.

The industry is also required to complete stringent KYC (Know Your Customer), AML (anti-money laundering), and anti-fraud procedures when working with crypto, leaving little to no room for criminal activity or criminal networks involved.

Understanding the intricate world of crypto compliance: avoiding serious and organized crime

Staying compliant with cryptocurrency regulations is vital for all companies in the industry, as failure to do so can result in hefty fines and loss of business. Established businesses take KYC/KYB/AML processes very seriously in order to protect their reputation and minimize risk.

Leading market players are not the only ones that must adhere to these tight regulations. Every platform that enables crypto transactions in most crypto-friendly nations is required to follow such protocols. These entail thorough KYC/AML procedures and establishing the identity of its clients.

The company is required to comply with local requirements if it wants to operate legally. Another reason why using a regulated platform to manage your cryptocurrency is always the best option.

At the same time, B2B clients have entirely different expectations. KYB serves to evaluate every potential partner thoroughly, working out many details and investigating the company's directors.

A few compliance tips for businesses:

• Ensure your staff and partners have a basic understanding of crypto security measures.
• Make sure your policies are always up to date and submitted on time.
• Ensure monitoring procedures are up to date and operating optimally.
• Review your past progress and adapt your plans as needed. 

Crypto vs fiat currency: law enforcement investigations

According to a study, less than 1% of illicit funds used in financial crimes in 2019 were carried out using digital assets (even less in 2020). Considering how cryptocurrency operates, this number may surprise you. What's more surprising is that most of these crimes were related to scams; less than money laundering, drug trafficking, terrorist financing, and any other major major criminal use of cryptocurrency.

Money laundering statistics currently attribute $1.6 billion worth of cryptocurrencies being involved in financial crimes, compared to the estimated $1.6 trillion laundered through cash annually.

Responsible crypto enterprises and crypto financial institutions are frequently eager to cooperate with authorities and aid in the fight against financial crimes and criminal activity. Tether's chief technological officer was quick to respond when a token swap platform was hacked, immediately taking action on a $33 million USDT transaction related to the incident. A few weeks later, the assets' owners were reimbursed.

Blockchain surveillance firms, such as Chainalysis and Elliptic, employ specialized software for the following purposes. They collaborate with it to gather blockchain data and examine it for possible illegal behavior. This plays a vital role in helping law enforcement trace digital currency transactions related to the Dark Web and stop illicit funds flowing straight into the wrong hands.

Does crypto hinder law enforcement investigations?

Contrary to popular belief, cryptocurrency transactions are not anonymous. In fact, many cybercriminals have been caught because their identities were eventually traced. For example, the Justice Department was able to track down 63.7 BTC paid by Colonial Pipeline Company to hackers after its computer systems were disabled and caused fuel shortages and a gas price surge across the East Coast. This criminal use of cryptocurrency was quickly investigated and prosecuted.

As blockchain technology uses cryptography to secure its transactions, there is another misconception, and that is that crypto transactions are anonymous, when in reality they are pseudonymous. This means that all transactions on the blockchain are visible, however, they are not tied to identities. So, should you know someone's wallet address you can see their transaction history. This provides law enforcement access to transaction history and the chance to conduct on-chain forensics.

The good news is that law enforcement is getting better at tracking down illicit funds each year. And the cryptocurrency sector is only eager to assist.

Final Thoughts

The recent rapid growth of global regulations has helped foster the growth of the cryptocurrency industry. Digital currencies are actually traceable and don't account for a large majority of financial crimes, despite what many people believe.

Responsible crypto platforms take measures to prevent illegal activities, protect users from fraud and other risks, and encourage them to stay financially responsible. This includes cooperating with law enforcement, as well as offering training and rewards to users.

While cryptocurrencies have played a small role in being used to fund illicit activities, it pales in comparison to the large number of fiat currencies used annually in fraudulent and illegal activities. That's not to say you should stop using fiat currencies, and the same applies for crypto.

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We are delighted to announce the listing and support of Gnosis (GNO) on Tap!

GNO is now available for trading on the Tap mobile app. You can now Buy, Sell, Trade or hold GNO for any of the other asset supported on the platform without any pair boundaries. Tap is pair agnostic, meaning you can trade any asset for any other asset without having to worries if a "trading pair" is available.

We believe supporting GNO will provide value to our users. We are looking forward to continue supporting new crypto projects with the aim of providing access to financial power and freedom for all.

Gnosis is a prediction market platform built on the Ethereum blockchain. The platform allows users to trade crypto assets representing event outcomes from around the world, from sports matches to elections. As the results unfold, Gnosis tokens either increase or decrease in value depending on what was predicted by the user.

Gnosis' native cryptocurrency is GNO, an Ethereum-based token (ERC-20) was sold during the Gnosis ICO. GNO tokens have a maximum supply of 3 million tokens.  The main use case of GNO tokens is for creating OWL tokens via staking to earn rewards. Users can lock GNO tokens in the Gnosis chain to generate OWL tokens through staking, which is dependent on the length of the staking period. The max time is one year.

Get to know more about Gnosis (GNO) in our dedicated article here.

Bear markets are riddled with panic selling, the act of exiting the market at a low price based on fear. While FOMO tends to apply more to buying when the markets are on the incline, panic selling is more closely associated with bear markets. The Fear and Greed index differentiates between the two using a scale based on market sentiment, allowing anyone to observe the market sentiment before making a trade.

Panic selling is not exclusive to the crypto markets, in fact, it can be found across stock markets and financial markets too. People have an ingrained characteristic that allows fear to override logic, often resulting in poor choices, particularly in the investment sector. 

Fear is often instigated by the news, particularly in the U.S, China and UK, where FUD spreads like wildfire and share prices can drop in an instant. Take Elon Musk's tweets about Bitcoin and Dogecoin and the media hype surrounding this as a prime example.

To avoid this, traders should create an investment plan that they can adhere to and refer back to when emotions get the better of them. To avoid any pain when it comes to investing in crypto, we suggest you pay close attention to the following pointers.

How To Avoid Panic Selling

If you've found yourself tempted to take unprofitable action, consider the following tips on how to avoid panic selling entirely.

Always Come Back To The Basics

When it comes to making any decisions in the crypto trading space, always come back to the primary objective: cryptocurrency's value proposition. While there weren't too many early investors, many since then have entered the market to tap into the incredible gains that crypto has presented over the recent years. 

When in doubt, don't get sucked into price activity and instead return to crypto's value proposition. If you've invested in a cryptocurrency with impressive fundamentals that you believe in, there should be nothing to worry about in the long run. Similar to buying a property in a good area of a city, as long as the suburb remains that way your investment is a solid one. 

Consider reading a research paper or two on a cryptocurrency to become familiar with its use case, and use case potential, in order to weed out the more risky assets.

Start By Investing Capital That You Don't Need

You've heard the saying "never invest more than you're willing to lose" but consider this: if you invest $100 that you rely on each month if the market dips you'll want to pull the money out as soon as possible to cut your losses as you need that money to survive. 

On the other hand, if you invest money that you don't need that month or in the months to follow, small price changes will carry less emotional weight and have more chance of achieving long term benefits. 

Focus On Long Term Results

Anyone invested in the crypto market knows that in a matter of ten years the price of Bitcoin went from a couple of cents to $67,000. While these returns are almost unbelievable, bear in mind that they took a decade to achieve. 

Although the markets have since fallen, the long term returns are still impressive and certainly worth tapping into. Every savvy investor will always keep their eye on the long term perspective. As adoption increases with countries around the world incorporating Bitcoin into their financial systems (some even allow citizens to pay their tax in crypto), there is plenty more way to go.

There's no denying that we have all become accustomed to instant gratification, but take a look at the following average annual prices of Bitcoin and observe the value in focussing on the long term: 

2015: $500

2016: $900

2017: $15,000

2018: $8,000

2019: $10,000

2020: $9,000

2021: $40,000

Prepare For Pullbacks And Accept The Risks

The crypto market is notorious for being volatile, the best way to tackle this is to accept it. The markets have been known to lose thousands of dollars in a couple of hours. If you want to invest in the best performing asset in history, you need to be prepared for that. 

While the Bitcoin price has lost over 85% of its value several times in its existence, it has reclaimed that value every single time. Even the individuals that bought BTC at $20,000 in 2017 regained their value and then some in the bull run of December 2020. 

Be prepared to sit through some market dips, but know that it will recover. If you're focused on the long term perspective and have used capital that you don't rely on, pullbacks and market dips should not be damaging factors. 

Use A Dollar Cost Averaging Strategy

The DCA strategy involves buying Bitcoin at a certain time of the month as opposed to based on market activity. Buying Bitcoin, or any other cryptocurrency, on certain days of the month will mean that you pay varied prices for the coin. 

Say you decide to invest $100 a month in BTC. One month you might get 0.002 BTC while the next month you get 0.003 BTC. Dollar cost averaging levels out the entry price when accumulating the coin and allows you to become less emotionally attached to the market's movements and therefore less likely to panic sell. 

In Conclusion

The best crypto investors are able to commit to some degree of emotional detachment, have a strong investment strategy focused on long term gains, and only invest in highly vetted, functional coins. Building a portfolio of coins from strong projects will help to alleviate any market-related uncertainty and allow you to ride out the dips more confidently. If ever you feel tempted to panic sell, revisit this list of factors and resist the urge! 

You can also read our article on Emotion Management In Trading for extra insight on how to keep your emotions under control while trading.
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If you have stayed around the cryptocurrency market long enough, then you will be familiar with the term “crypto whale”. This term usually refers to big players in the crypto space that are known to hodl and move around large amounts of any given coin, often affecting the price while they’re at it. We’ll discuss how whales are affecting the cryptocurrency market by considering the following:

Who is a Whale

In the cryptocurrency market place, the term whale is used to describe any individual or group that controls a large amount of Bitcoin or cryptocurrencies. Just like the size of the whale distinguishes it in the ocean, portfolio size of these individuals or groups sets them apart in the crypto industry.

It is estimated that roughly 40% of all the Bitcoins in existence are held by only about 1,000 people. That is some huge volume to deal with, no matter the ratio among them. Some of these whales are well known individuals and groups. Roger Ver, the Winklevoss Twins and Charlie Shrem are some of the well known individuals that control large volumes of Bitcoin. While Fortress Investment Group and Pantera Bitcoin Fund are examples of group whales.

The majority of today's whales consist of early adopters who allocated substantial funds to acquire Bitcoin and cryptocurrencies during periods of lower prices. The Winklevoss twins, for instance, directed $11 million into this venture, a fraction of their payout from a Facebook intellectual theft lawsuit involving Mark Zuckerberg. This endeavor granted them ownership of 100,000 Bitcoins, which are now valued at over $1.1 billion.

Do Whales Manipulate the Market?

Most whales are hodlers, therefore are expected to retain their holdings over an extended period of time, especially as Bitcoin seems to retain so much upside potential. However, from time to time, since the blockchain network is open and everyone can view the transactions that go on, we see huge volumes being traded. Apart from that, whether in the buying or selling direction, the trades of these whales always have an impact on the market.

Smaller traders most often seek to ride the trend on which whales are trading. Therefore, when these trades happen, the market seems to follow the whales. This is one major way how whales are affecting the cryptocurrency market. They determine the direction.

This kind of behaviour has caused some suspicion within the industry with people accusing the whales of manipulating the market. Although this behaviour is frowned upon, it isn’t technically breaking any laws. A typical scenario illustrating this is when whales initiate a massive sell-off of Bitcoin or any other crypto. Smaller traders will follow suit after the price has dropped. Afterwards, the whales buy back their crypto at a much cheaper rate, making a lot of money in the process.

However, it is also fair to realise that most of these whales are long term investors who are astute hodlers of Bitcoin and cryptocurrencies. Therefore, we cannot always accuse them of manipulating the market, even though they have the capacity to do so.

How Can You Trade Like a Whale?

What we should be concerned about is if there will come a time that these whales will want to recover their capital. Would there be a massive sell-off of Bitcoin and cryptos, and how will it impact the market? Well, the Bitcoin and cryptocurrency market is still young, and we expect the system to last for a very long time before any such thing can be anticipated.

Whether there are whales in the market is not a question. Also, whether their actions have any impact on the market has also been established. What traders like to know is the heartbeat of these major stakeholders in the industry. This could serve as a fundamental factor in determining what to expect from the markets. Real time prices and market capitalization with respect to volume are areas where we can determine which way the whales are moving.
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Emulating the trading strategies of prominent crypto whales involves understanding some of their key practices. These influential traders often possess significant resources, enabling them to execute substantial trades. To gain insights from their approach, consider the following principles:

1. Informed Decision-making: Stay well-informed about the cryptocurrency ecosystem by keeping up with reputable news sources and reliable platforms. Understanding market trends, new projects, and potential events can contribute to better decision-making.
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2. Analytical Approach: Utilize a blend of technical and fundamental analysis. Technical analysis involves studying historical price data and chart patterns, while fundamental analysis focuses on evaluating the intrinsic value and growth potential of a cryptocurrency.
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3. Risk Management: Prioritize risk management to safeguard your capital. While crypto whales can tolerate losses, individual traders should be cautious. Implement risk management techniques like setting stop-loss orders and diversifying your portfolio.
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4. Adaptability: Remain adaptable to changing market conditions. What works in a bullish market might not be effective during a bearish phase. Being open to adjusting your strategies can be beneficial.
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5. Patience and Discipline: Practice patience and discipline in your trading approach. Crypto whales often wait for favorable opportunities, and exercising restraint can prevent impulsive decisions.
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6. Network and Insights: While crypto whales might have access to insider information, you can still benefit from networking within the crypto community. Engage with knowledgeable traders and participate in discussions to gain insights.
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7. Learning from Mistakes: Mistakes are inevitable, even for crypto whales. Use your experiences as learning opportunities, and continuously improve your trading strategies.

Remember, while understanding the strategies of crypto whales can offer valuable insights, individual trading outcomes vary. The crypto market carries inherent risks, and any trading decisions should be based on careful consideration and personal risk tolerance.