Learning the friendly way

Cryptocurrencies have gained a reputation for being largely volatile investments. While stock too can have their moments (what with Peloton stocks dropping 20% every other day) the crypto market carries the brunt of it. 

Thankfully, stablecoins have come to the rescue. While still functioning as digital currencies powered by blockchain technology, stablecoins are pegged to external assets such as fiat currencies or gold, thereby eradicating (most of) their volatility. 

A Short History Of Stablecoins

After the advent of Bitcoin in 2009, it was only a few years later that a stable digital asset entered the market. Stablecoins came into existence in 2014 when a Hong-Kong based company named Tether Limited released a coin of the same name. The Tether coins' value was pegged to the US dollar, meaning that 1 USDT would always be worth $1. 

In order to guarantee this value, the company held the dollar equivalent in bank accounts. Skip past the controversy surrounding their reserves and lack of financial analysis, and there are now plenty of other stablecoin options on the market. 

Seeing the infinite benefits of digital currency transactions and blockchain technology, like speed, transparency and low fees, many companies around the world have created their own version of the stablecoin, mostly improving on the previous release. These coins have proven to be invaluable with businesses and retail merchants around the world.

Today, the two biggest stablecoins on the market are Tether (USDT) and USD Coin (USDC). One can argue whether these are "safe haven" assets, but one cannot deny that these tokens hold most of the advantages that digital currencies hold while considerably diminishing the unpredictable market swings. 

In our attempt to better understand the concept, let's take a look at the two biggest stablecoins.

Tether (USDT) vs USD Coin (USDC)

Below we explore the two multi-billion-dollar market cap stablecoins, while they both provide the same service in terms of a digital currency, the companies behind them operate quite differently.

What Is Tether (USDT)?

As mentioned above, Tether is the first stablecoin to enter the market. Launched in 2014, the network was initially built on the Ethereum blockchain but is now compatible with a number of other networks. 

Note that the Ethereum-based USDT cannot be traded as a TRON-based token, coins need to stick to their respective blockchain networks as this is how the transactions are processed. 

It wasn't long before USDT was listed on the top exchanges, and included in dozens of trading pairs. 

Tether Limited have since released a Euro-based stablecoin as well as Tether crypto coin pegged to the price of gold. The downside to Tether falls on the company's reputation surrounding transparency and reserve funds. 

There have been several court cases where individuals and regulatory bodies have called for transparency surrounding the funds held in reserves. Tether has since provided access to this information but is yet to go through a third party audit. Regardless, Tether holds the third biggest market cap (at the time of writing). 

What Is USD Coin?

USD Coin is a stablecoin created by the Centre Consortium, an organisation made up of crypto trading platform Coinbase and Circle, a peer to peer payment platform. It launched in 2018 as an ERC-20 token and has since climbed the ranks to be in the top 5 biggest cryptocurrencies based on market cap. USD Coin is available on the Ethereum blockchain, as well as Solana, Polygon, Algorand and Binance Smart Chain networks. 

The significant bonus that USDC holds over its biggest competitor, USDT, is that the coin is regularly audited by a third-party institution. These audits are made public, allowing any user to verify the authenticity of their USDC value each month. Since launching USDC, Coinbase has removed USDT from its platform. 

Which Is Better: USDT vs USDC?

Due to the fact that these respective companies are holding the dollar-equivalent value in reserves, these two digital currencies are considered to be centralized, while the rest of the cryptocurrency market holds a decentralized nature. As the demand for digital currencies increases, it is likely that these two stablecoins will only continue to grow.

When looking for a stablecoin, these are two mos recognised options. When deciding which are the better of the two, consider what you will be using these for, and which networks you would ideally like to trade through.

Users can both buy and sell USDT and USDC directly through the Tap app. Simply create your account, complete the KYC process and deposit funds into your digital wallet. Manage your entire crypto (and fiat) portfolio from one convenient, secure location.

Before you invest in any crypto projects or assets, the golden rule is to always do your own research (DYOR). Hearing about a new coin from your neighbor or cousin's friend on Facebook is great, but it still requires a sizable chunk of your own research. Before you part ways with your money in the crypto space ensure that you've weighed up both the risks and the potential, the responsibility lies with you.

Crypto investing has a track record of being volatile, so the more clued up you are on the crypto assets you invest in, the better. While market data and fundamental analysis are important, be sure to understand the basics of a project and the project's potential.

What is DYOR (do your own research) in the crypto space?

The holy grail of investing in crypto projects, DYOR has become a common abbreviation for do your own research. The phrase is used to remind crypto investors that they should conduct their own research on a crypto project thoroughly before investing any money in it.

Whether you're looking to buy crypto assets, tokens, NFTs, or in any way get involved with a crypto project, be sure to thoroughly investigate the following factors mentioned below when doing your own research. Don't be lured in by a project's fundamental analysis, ensure that you understand everything there is to know about the project. Crypto investing can have devastating consequences for uninformed investors.

The 4 dimensions of how to DYOR on a crypto project

Below we will outline the four main dimensions of conducting your own research on a new cryptocurrency. These four pillars will give crypto traders a solid understanding of what the project represents, how it's been received, and what might happen in the future. Be sure to do this before looking at any technical analysis.

Remember, doing your own research requires reading multiple sources and verifying that the information is correct. When conducting your own research you mind find some disputing information, continue looking until you have the accurate answer.

Team

First and foremost, who is the team running this project? This information is typically presented on the platform's website or in its whitepaper (it's imperative that a project has both of these).

Take a look at the size of the project team, a small team might fall apart if one of the three members leaves while an excessively large team might be a red flag if it is still in its early days.

Check the experience of the leaders on the team. Ideally, you want leaders and executives to have experience in blockchain, Web3, finance, business, computer science, or any other related fields. Also, consider whether their current titles match their experience.

Are the team entirely anonymous? This is considered a red flag as the potential for them to execute an exit run is high. Consider the leaders of the project carefully and decide whether they have the means to steer this ship in the right direction.

Tokenomics

Tokenomics refers to the factors related to the supply and demand of a coin or token. The term merges "token" and "economics" and provides a key area of study for potential investors when establishing a coin's long-term viability. Below are the main aspects of tokenomics:

• Token supply: what is the maximum supply of coins or tokens?
• Token utility: what is the purpose of the coin (does it have governance rights, does it serve a specific function)?
• Market cap: How does the coin's market cap compare to that of its competitors?
• Issuance tactics: does the project intend on conducting token burns or any related activities?
• Minting, allocation, and distribution: how are the coins minted (all at once, gradually), when launched how are the tokens distributed, do a small number of members hold a large amount, are any coins locked up that will be released to the market on a specific date?
• Trading volumes and liquidity: what kind of volumes does this coin trade and how much liquidity does it have?

Innovation

For this pillar of the project, you want to look at what problem this project is solving, and what edge it has over its competitors. It's also worth taking a look at the project's road map and whether it is delivering on its self-set milestones. No roadmap is a red flag, well-managed projects are transparent and eager to release their milestone accomplishments.

Ideally, you want to establish what solution this project is bringing to the greater industry and what competitive advantage this project holds over similar projects. Consider its weaknesses.

If you want to take things one step further, consider what the team might not be telling you, and what elements could work against the growth and success of the project.

Social

This might not seem essential, but social media platforms can offer significant insights into the project's community, achievements, and current state within the crypto space.

When conducting your crypto research check whether the project has active official social media channels, and how often these are updated.

Secondly, how big is their community both in terms of followers and engagement? Are people engaging with the platform or talking about it on their own channels? Community members can shed a big light on how the project has been received.

Lastly, what kind of discussions are being had within the community of these groups? Are people friendly and inviting, or are they blindly promoting the project and pushing "lambo" sentiments? Ideally, you want to have a space where open and honest discussions can be had and constructive criticism accepted.

Toxic communities along with shillers and abandoned channels are all red flags.

The bottom line for DYOR and crypto projects

Establishing these four dimensions of a project is important prior to investing any money. Not only does it give you the opportunity to learn about a new project, but also to become better acquainted with what is happening in the crypto space.

Through the process of conducting your own research, you might discover a viable gem or even gain access to exclusive airdrops as an early supporter. Bear markets are a great time for diving into DYOR explorations.

While we’re super excited to move into our new era of financial inclusion, it seems a few are getting caught up in the nostalgia of the old Tap. We get it, Tap Global still sounds iconic, but as we embark on our new chapter, we’ve dropped the Global and are rolling as just Tap. Rest assured, while we embrace this new identity, we remain dedicated to the core values and exceptional services that have made Tap a trusted name in the industry.

As we forge ahead into the future, combining innovation with a touch of familiarity that we know you'll love, we invite you to join us. We’ve noticed, however, that some people are still using the old lingo in their Google searches, so in the spirit of leaving no man or woman behind, here are our answers to your burning questions. 

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Is Tap legit?

Yes, Tap is a legitimate company in the fintech industry. It is a well-known and reputable organization that provides services for buying, selling, spending, and storing crypto and fiat currencies. 

Through our user-friendly mobile app and commitment to enhancing security measures, we provide an all-rounded financial service that is not only licensed and regulated by the Gibraltar Financial Services Commission but also audited by PKF. 

Check out our website, app, and if you want to understand just “how legit” we are.  

Is Tap safe?

If there’s one thing to be sure of it’s that we take security measures very, very seriously. 

We employ industry-leading security practices and technologies to protect user data and transactions and have designed our mobile app with a particular focus on security, utilizing encryption and other security protocols to safeguard sensitive information.

However, it is important to note that no system is completely immune to risks and for that, we have implemented safeguards too. We not only encourage users to exercise caution and follow best practices such as setting strong passwords, enabling two-factor authentication, and regularly updating their devices and software, but we also have insurance policies in place should any of our multi-layered security barriers become compromised.

Is Tap available in USA?

Is Tap available in the US?

We appreciate your interest in Tap. Currently, our app's availability varies globally due to a myriad of factors that go into each market entry. While we strive to cater to as wide a user base as possible, it's important to us that we adhere to all regulatory and compliance measures, ensuring a secure and dependable platform for all our users.

As for your query regarding the United States, we don't have a definitive answer at the moment. Our focus is on delivering the best possible experience for our current users while exploring potential avenues for growth.

We always encourage our users to stay updated with our platform for any announcements.

While waiting for our launch in the land of the free, we are offering users an opportunity to join the Tap waiting list program and earn up to $100 in referral rewards for each friend you invite.

Is Tap a bank?

Technically referred to as a Fintech, Tap is a financial technology company that provides services related to crypto and fiat currencies. Through the licensed and regulated platform, users are able to buy, sell, spend, and store a wide range of crypto and fiat currencies.

Your Tap account also comes with a complimentary Tap prepaid Mastercard which allows you to spend any of your stored currencies at merchants and ATMs around the world. 

In short, Tap is a Fintech and does not offer traditional banking services like loans. 

Is Tap a good investment?

As a reputable fintech platform, we will never provide financial advice or make specific investment recommendations. The decision to consider Tap or any other investment opportunity should be based on your own thorough research, careful consideration of your financial goals and risk tolerance, and consultation with a qualified financial advisor if accessible. 

What we can offer is a guideline to use when evaluating an investment. It is essential to assess various factors, including the company's track record, market conditions, its leadership, and the potential risks and rewards associated with the investment. It is also important to consider that investments in cryptocurrencies can be volatile and subject to market fluctuations.

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Bonus question: will Tap be called "faucet" in the USA?

While not exactly a Google search, a fair question from Dave in the comments section: will Tap be called "faucet" in the USA? Despite the American version of the same device being referred to as a faucet, that answer is a definite no. Tap will remain true to its roots and still be called Tap when launching in the USA. 😉

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We want to inform you that XTP trading will be temporarily paused starting today on the Tap app. We’ll be temporarily pausing XTP trading on the Tap app. This short pause will give us the time we need to complete the integration of ProBit, an exchange that continues to support XTP trading.

We sincerely apologise for any inconvenience caused by the Bitfinex delisting. XTP was removed alongside several other major tokens, and the short notice left limited time to implement an alternative solution. We moved quickly, and the integration with ProBit an exchange that supports XTP is already in progress.

Here’s what you need to know:

• XTP trading will be paused for a few days
• We’re integrating ProBit into our trading engine
• Once that’s done, XTP trading will resume as usual in the app
• We’re also in active talks with several other exchanges to expand access to XTP

We know how important XTP is to many of you, and it’s at the heart of the Tap ecosystem. Thank you for your patience and continued trust. We’ll keep you updated and let you know the moment trading goes live again.

The Tap Team

Dear Tap Community,

We want to share an important update regarding the XTP token and Bitfinex. As part of a broader internal review, Bitfinex has decided to delist several tokens, including XTP along with other notable projects like The Graph (GRT), Notcoin (NOT), and seven others as part of their platform review. This appears to be a broader shift in Bitfinex's listing strategy rather than something specific to XTP.

What’s Next for XTP

The good news? XTP remains at the heart of everything we do! 💙 Our token continues to power all the awesome features you love - our tier structure, rewards, and the entire Tap ecosystem. This change doesn't affect our exciting roadmap or our vision for the future.

Here’s what we’re doing to keep things moving forward:

ProBit Integration in Progress:
Our dev team is already working on integrating ProBit (where XTP currently trades) into our Trading Engine. This will create a seamless trading experience right within our platform!

New Exchange Adventures:
We're in exciting talks with several exchanges to give XTP even more trading homes! While we need to keep the details under wraps for now (those NDAs, am I right?), know that we're pushing hard to create more options for our community.

Community First:
Remember to withdraw your tokens from Bitfinex before July 15, 2025, if you haven't already. We're here to help if you need guidance on this!

The Road Ahead 🛣️

Even in challenging markets, we see incredible opportunities for growth! Here's what's cooking:

• More XTP Utility: We're whipping up new ways for XTP to shine in our ecosystem
• Cool New Features: Q2 is going to bring some exciting platform upgrades
• Let's Talk More: We'll be sharing updates more frequently so you're always in the loop

We're so grateful for this amazing community! 🙏 Together, we've weathered challenges before, and we'll come out stronger this time too. The crypto landscape is always evolving, and we're evolving with it.

We’re deeply invested in the future of XTP - and we’re just getting started. 👏

The Tap Team

Hey Tap community
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If you’ve been wondering why things have seemed a little quiet lately, it’s because we’ve been hard at work behind the scenes, and today, We are excited to finally share the full story and what’s coming next.

Laying the groundwork for the next wave of features

Over the past five years, Tap’s fast-paced, lean approach helped us grow quickly. But growth brought challenges.
Our infrastructure, built for a much smaller platform, was starting to hold us back, especially during big launches or promotions. It wasn’t scaling the way you, our community, deserved.

Rather than continue patching and stretching it, we made the bold decision to rebuild Tap’s core systems from the ground up, upgrading to a modern, flexible architecture built for real growth.

 It wasn’t easy. It meant months of intense work, rewriting large parts of our platform. That’s why new features slowed down, because we were laying a much stronger foundation for the future.

Now, we're Ready to start the rollout

After months of development and testing, we’re kicking off Phase 1 of the migration to our new infrastructure.

📅 Maintenance Window

• Starts: Wednesday, May 7, 2025 at 21:30 UTC
• Ends: Thursday, May 8, 2025 at 07:30 UTC
• Impact: Tap services will be temporarily unavailable for about 10 hours

This maintenance allows us to move our internal Tap team to the new system, a critical step before we start migrating you, our users.
We've scheduled it overnight to minimise disruption, and our team will be working around the clock to ensure everything runs smoothly.

What happens after this?

Once internal testing is complete, we'll begin carefully moving users over in phases:

• Phase 2: Migrate select groups of users, monitor closely, fine-tune.
• Phase 3: Roll out to all users, officially retiring the old system.

Each phase brings us closer to a faster, more reliable Tap, one that’s ready to scale with our growing community and deliver new features faster than ever.

The future starts now

This upgrade unlocks a future where downtime, failed sign-ups, and app slowdowns are things of the past. Thank you for sticking with us through this transition.

Your patience means everything. We can't wait to show you what’s coming next. The quiet period is ending, and Tap’s next chapter is just beginning.

Stay tuned,
The Tap Team.

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