Learning the friendly way

We are delighted to announce the listing and support of Axie Infinity (AXS) on Tap!

AXS is now available for trading on the Tap mobile app. You can now Buy, Sell, Trade or hold AXS 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 AXS 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.

Built on the Ethereum blockchain platform, Axie Infinity is a video game that uses NFTs to represent unique creatures, abilities, land plots and other in-game assets. Through the game, users can earn Axie Infinity Shards (AXS) and Smooth Love Potions (SLP, formerly Small Love Potions).

AXS are non-fungible tokens based on the ERC-721 Ethereum-based token standard. While used in the game for payments, these tokens also serve as governance tokens, allowing holders to have a say in the development of the project. These digital currencies can also be traded on external exchanges.

Get to know more about Axie Infinity (AXS) in our dedicated article here.

When faced with something new or unfamiliar, especially when dealing with money, people often tend to automatically put it into a box. Unfortunately, Bitcoin is no exception. Since its rise in value since its initial launch in 2009, many have been skeptical of how and why it could do so. In this informative article, we explore the common misconception that Bitcoin is a Ponzi Scheme. 

What Is A Ponzi Scheme?

First, let's take a look at what a Ponzi Scheme actually is. Ponzi Schemes are fraudulent investment scams which promise high rates of return with minimal risk. This is orchestrated by a "portfolio manager" taking an investment (payment) from a new recruit and using those funds to pay off earlier investors, taking a portion of the funds for themselves. 

The new recruit will only be paid once they have recruited more new people, whose funds will be used to pay off their investment. As long as new people are entering the system, the earlier investors are seemingly making profits. This all falls apart when the pool of potential investors becomes saturated and no new investors are entering the system. 

The business concept was first mentioned in literature in the 1800s but was officially coined in the 1920s after a person by the name of Charles Ponzi. Ponzi schemes pose as financial services and are illegal in the UK and most other countries and are punishable in the same light as anti-money laundering.

Why Bitcoin Is Not A Ponzi Scheme

As Bitcoin is an entirely decentralised asset and operates using the transparency of blockchain technology, Bitcoin cannot be a Ponzi Scheme. Due to the nature of blockchain, anyone at any time can verify all transactions made on the Bitcoin network, dissimilar to a Ponzi Scheme where "investments" are shrouded in secrecy. 

Ponzi Schemes need to obfuscate transactions from both investors and regulators in order for the scam to work, which is the exact opposite of how blockchain functions. These issues alone prove that Bitcoin cannot be a Ponzi Scheme.

Instead, Bitcoin is open to anyone and following one purchase the investor can own and hold the original cryptocurrency. As a digital currency, Bitcoin is stored in digital wallets which are accessible to anyone, without the need for lengthy paperwork. Most exchanges offer users access to a Bitcoin wallet, which can easily be accessed directly on the platform.  

Bitcoin Volatility Confirms It Is Not A Ponzi Scheme

Not often seen in a positive light, Bitcoin's market volatility puts the final nail in the coffin when considering whether Bitcoin is a Ponzi Scheme. See, in Ponzi Schemes investors receive suspiciously consistent returns, which is just not plausible when it comes to trading Bitcoin.

Day traders have been known to witness high price swings over short periods of time, sometimes losing or accumulating a large amount in mere hours. This is entirely unrealistic when it comes to the functioning of a Ponzi Scheme. 

Instead, Bitcoin's price history has shown that substantial growth is generally witnessed in four year periods. This is in line with the Bitcoin halving event, an automated change to the miner's rewards which manages the number of new coins entering circulation. After every 210,000 blocks are added to the network's blockchain, the halving event is initiated, and the rewards are automatically halved. History has shown that roughly 12 - 18 months later Bitcoin has seen substantial gains. The next halving to take place will be in 2024. 

How To Avoid Ponzi Schemes In The Crypto Realm

While Bitcoin and other cryptocurrencies are not Ponzi Schemes themselves, that doesn't mean that Ponzi Schemes cannot use Bitcoin to lure in potential investors. Beware of any investment "firms" looking to invest in crypto for you, particularly if they're claiming to provide inflated rates of returns. 

Instead, invest in crypto yourself through a reputable platform like Tap and take matters into your own hands. Buying cryptocurrency is simple, you can do so with a credit card or bank transfer, and then the funds are stored in the digital wallets allocated to you specifically. From the mobile app you have full control over your funds, able to sell or buy at a moment's notice. The platform also utilises integrated technology which scans multiple exchanges and order books around the world to find you the best price in real time. 

Stay clear of Ponzi Schemes and other investment scams, and utilise the financially-inclusive world of crypto investments yourself.

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ISO/IEC 27001

TAP manages confidential information on a daily basis and recognizes the importance of protecting this information from the risk of data leakage, loss or theft. Thus, it has adequately implemented the leading international and certifiable Standard for information security managementISO/IEC 27001 (IT Information Management System).

ISO/IEC 27001, sets out the requirements for defining, implementing, monitoring and improving an information security management system (ISMS) and it involves people, processes and IT systems implementing a risk management process. It offers a systematic and well-structured approach that protects the confidentiality of TAP’s stored information, ensures the integrity of the company data, and improves the availability of its IT systems.  

Tap’s ISO/IEC 270001 certificate of implementation has international readability and validity and ensures the verification of compliance with relevant laws and regulations.

At European level, the GDPR (the General Data Protection Regulation 2016/679 on data protection and privacy in the European Union and the European Economic Area), encourages the use of certification systems such as ISO/IEC 27001, as this standard describes the requirements that an organization must meet in order to manage its information security comprehensively and effectively. By adopting ISO/IEC 27001, Tap can demonstrate that actively manages its data security in accordance with international best practices.

100m insurance Bitgo

Tap’s partnership with BitGo, a top qualified digital assets custodian, ensures the highest-level of security for Tap’s customers.

Tap’s first line of defense against theft, loss or damage of private keys includes software, hardware, physical security measures and top quality Know Your Customer (KYC) and Anti-Money Laundering (AML) policies and procedures. By carrying a $100 million coverage insurance as an additional layer of protection from Bit Go, Tap integrates a significant hedge against loss.

Licensed & Regulated

Tap is a legitimate Distributed Ledger Technology (DLT) provider as it is fully authorized by the Gibraltar Financial Services Commission (GFSC), with license number 25532.

This authorization ensures that Tap meets all the required standards to provide efficiently and securely its services and has proper regard to the DLT associated risks in order to protect its customers.

In general, Tap is fully complied with all applicable regulatory, legal and contractual rules and the company’s policies and procedures are frequently reviewed and updated in order to align with the regulative framework. Tap checks on a daily for compliance breaches, ensures that its staff is properly familiar with the KYC and AML/CTF global standards and guarantees the effectiveness and adequacy of its procedures, internal controls and systems.

(In addition, TAP’s provided prepaid card is issued by Transact Payments Limited, which is regulated by the Financial Services Commission Gibraltar, under the Financial Services (Banking)Act 1992.)

In the honest words of Benjamin Franklin: “By failing to plan, you are preparing to fail." Don't let your finances go to ruin over Christmas - take the time now to build a budget and arm yourself with a plan to take into the holiday season.

Christmas is a time for giving, but it's also a time when many people overspend and end up using their credit card to buy gifts during Christmas time. To avoid this and stay within your budget, it's important to plan ahead and set a total budget for your holiday spending. This will give you plenty of time to save up for gifts, travel, and other expenses, and it will help you avoid overspending.
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Build a budget in 4 simple steps

Much like a monthly budget, your Christmas budget is going to focus on the month ahead, balancing your income with expenses, with a little extra gift-giving thrown in. This is the toughest step - and best believe the most important one.

One way to save money and stay within your budget is to set aside a portion of each paycheck in a dedicated Christmas savings account. This will make it easier to save up for the holiday season and avoid using your credit card to buy gifts. You can also use gift guides and other resources to find affordable gift ideas, and start shopping early to take advantage of sales and discounts.

1. Determine your income

When creating a Christmas budget, it's important to include all sources of income you expect to receive this month. This includes your regular take-home pay, as well as any additional income from a side hustle, bonus, tax rebate, or other sources. 

By including the amount of each income stream in your budget, you'll have a clear picture of how much money you have available to spend on Christmas gifts, travel, and other holiday expenses.

If you're expecting any extra money this month, such as a bonus at work or extra income from a side hustle, be sure to include this in your budget as well. This can help you save more money for Christmas and avoid overspending. 

TIP: Consider buying only one gift for each person on your list, rather than buying multiple gifts. And remember, only spend money that you actually have on Christmas gifts and expenses, rather than using credit or going into debt.

2. Write down all your expenses

From household expenses to utilities to car expenses to debt payoffs and money allocated to your savings funds. Also, be sure to include entertainment and transport, and don't forget the important things like insurance, child care and medical aid.

3. Create a special Christmas column

Added to your regular expenses, map out a budget for gifts, decor, and any food and drink-related expenses you will encounter. To make the task less daunting, start with which friends and family members you need to buy presents for and a rough estimate of what these might cost.

Also, consider things like stocking stuffers, the Christmas tree, decorations, and wrapping paper. Don't put too much pressure on yourself here, go for affordable over perfect and on credit, or better yet shop for a deal in the months before. 

The point of this budget is to reduce credit card debt, so use the time to come up with some great ideas before you go shopping. 

4. Minus your expenses from your income

With the expenses (including the Christmas expenses) and income column side by side, review your expenditure and ensure that the total amount in your income column can cover this.

• if your expenditure is higher than your income make tweaks to bring it down. Consider buying a smaller gift for someone, or reducing your entertainment budget.
• if your income is higher than your expenditure, great job. Now consider allocating those funds somewhere to avoid frivolous spending. Perhaps put more money in one of your savings accounts, or consider gifting some to a charity. Bear in mind that allocating these funds now before you're tempted to spend them will be preferable.
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Manage your spending as you go

Check in every now and then to ensure that you're still in line with your spending and fund allocation. You don't need to become an accountant tracing every cent, just check in weekly for an overview of your expenditure and whether you need to make any adjustments.

Sticking to your Christmas season budget will be the second hardest part - but not impossible! Print it out, put it on your fridge and be diligent about sticking to your budget. Your January wallet (and budget and bank repayments) will thank you.

TIP: Finding the perfect gift for your loved ones can be challenging, especially if you're on a tight budget. One way to save money on gifts is to shop sales and use coupons. Many stores offer special discounts and deals during the holiday season, so be sure to keep an eye out for these and take advantage of them. 

You can also use a seperate fund to save extra cash throughout the year for Christmas gifts, which can help you avoid going into debt when it comes time to do your holiday shopping.

Another way to save money during the gift-buying season is to give DIY gifts. These can be personal and heartfelt, and often cost less than store-bought items. Consider making yourself festive Christmas dinner, baked goods, hot cocoa, crafting a handmade gift, or giving an experience gift, such as tickets to a concert or a voucher for a spa day. 

These gifts can be thoughtful and unique, and they can help you save money on your holiday spending.
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Getting prepared for next year

While you're doing most of the groundwork, why not duplicate this information now and implement it into next year's Christmas budget already (meaning more expendable income for you in December)?

Establish your Christmas expenses

When creating your Christmas expenditure list, take into account any changes or new additions to your family or holiday plans. Start by making a list of all the Christmas presents you plan to buy, as well as any expected extra Christmas spending in your budget.

Don't forget to include Christmas presents for your kids and other family members. Also, consider in your holiday budget expenses such as travel, holiday meals, decorations (everyone loves some shiny Christmas lights) , and entertainment. Add up the total cost of all these items to determine your total Christmas budget amount.

If you're using last year's budget as a starting point, be sure to make any necessary adjustments. The whole point of creating a budget is to ensure that you have enough money to cover all your expenses and avoid overspending during the holiday season. This will make your Christmas shopping experience stress-free and enjoyable. 

Work out monthly savings

Divide your Christmas expenses by 12 months and establish what you'll need to put aside each month to meet this goal. Consider creating a separate savings account (better yet one that has interest rewards) so that you have a safe space to put these funds out of reach.

Imagine the feeling of knowing all your festive season expenses are already saved. That might just be sweeter than Aunt Ruth's cranberry jelly.

Get prepared and enjoy this most wonderful time of the year

The festive season doesn’t need to be stressful, with a plan in place and a budget you’re ready to take on by the horns, your Christmas could be a lot cheerier, freeing up more time to enjoy the moments spent with the people you love. By following these steps, you can create a budget for Christmas that will help you save money and avoid overspending. And remember, it's not just about buying gifts - the holiday season is about spending time with loved ones and creating memories, not about going into debt. So, make a plan and stick to it, you won't feel guilty and you'll be well on your way to a happy, debt-free Christmas!

Ankr is playing an integral role in the adoption of Web3, providing growth and development opportunities for network stakers, app developers, and other participants in the DeFi space. 

Ankr is leading the way in making it easier for users to interact with multiple blockchains. Streamlined and simple, Ankr simplifies complex tasks so that you can access multi-blockchain technologies quickly and securely.

What is Ankr (ANKR)?

Ankr is a decentralized Web3 infrastructure provider that facilitates the swift and effortless connection between developers, dapps, stakers, and blockchains. With Ankr's APIs & RPCs you can quickly build blockchain-based applications with confidence, stake on Ankr Earn as well as access custom solutions for any blockchain enterprise needs.

Ankr simplifies the process of setting up and participating in Proof of Stake (PoS) blockchains. It provides various tools and services to help users deploy nodes, stake their PoS tokens, and access decentralized finance (DeFi) applications. The Ankr platform was first launched as a Distributed Cloud Computing Network that leverages idle computing resources. This allowed users to access cloud computing services without relying on a single provider's infrastructure.

Ankr provides a variety of features and tools, such as node hosting, staking pools, analytics, and automated notifications. These services work together to make participating in Web3 easier by providing simple solutions. 

The node creation process is supported across multiple blockchains and in return for the services provided, node operators pay a monthly fee to Ankr. 

ANKR is Ankr's native cryptocurrency fueling the platform and is used as a payment method within the ecosystem. 

Who created the Ankr platform?

Ankr was founded in 2017 by Chandler Song, Ryan Fang and Stanley Wu and officially launched in 2019. Song and Fang were former college roommates while Song worked under Wu, a computer engineer at Amazon Web services, while interning. Together the three founders created Ankr, with a mission to build the most decentralized and scalable Web3 infrastructure possible. Song is currently serving as CEO, Fang as COO, and Wu as CTO.

Following several successful rounds of funding, the team has amassed tens of millions of dollars from big blockchain investors such as Pantera Capital and NEO Global Capital (NGC) as well as several funding rounds. The first token presale raised $15.9 million followed by another token sale which raised $18.7 million in just six days. Once opened to the general public, the platform raised a further $2.75 million. 

How does the Ankr Protocol work?

It is important to note that Ankr is not a blockchain. Instead, it provides specialized tools which are beneficial for builders, stakers, and businesses alike. Its main features can be broken down into these four categories below:

Node infrastructure services

With Ankr's decentralized infrastructure, DeFi platforms, NFT projects, blockchain games and dapps of all kind can receive faster access to blockchains at a more scalable and cost-efficient rate. Hosted by numerous high-performing nodes across the world simultaneously serving requests, these applications are guaranteed optimal performance.

However, setting up a blockchain node requires technical know-how, time, and effort, skills not everyone possesses. Ankr provides a service where it can launch one which can be accessed remotely. This provides the opportunity for users of all skill levels to participate in the validation process on a Proof of Stake blockchain. Additionally, the platform overlooks the performance of the node to ensure that users' funds staked are not punished due to any downtime or dishonesty.

Instant API and RCP access for developers

Developers who are launching smart contracts​ and ​dapps to a blockchain are required to use designated APIs (Application Programming Interfaces). This process typically involves running a node alongside these and spending time synchronizing it to the data on the blockchain. 

To solve this issue, Ankr provides instant API services and RPC (Remote Procedure Call) access to developers. This allows for uninterrupted access to blockchains without having to worry about vying traffic. It also provides access to the whole chain's data, supplying the dapp with all the information it might require and an overall better user experience. 

Custom Blockchain Enterprise Tools

For enterprises in need of custom-made, streamlined solutions for handling multiple blockchain networks, Ankr provides a Web3 Infrastructure-as-a-Service model. Accessible through an easy-to-use monitoring platform, businesses can utilize the platform's API and RPC services making their operations more efficient and cost-effective.

Liquid staking

Ankr provides staking capabilities across multiple chains, offering reward-earning tokens to represent these staked funds. The tokens can then be used to trade or for various DeFi activities such as lending, yield farming, liquidity mining, etc. This allows users to maximize their earning potential while still engaging in staking activities. 

For example, instead of staking the minimum required amount of 32 ETH on Ethereum 2.0, users can stake 0.5 ETH through the Ankr protocol, with these funds automatically being routed to the pools with the highest yield. In return, users will receive aETHb or aETHc tokens, which provide a liquid way in which users can access their staked tokens. 

What is the ANKR token

ANKR is an ERC-20 and BEP-20 token that operates across both the Ethereum and BNB Smart Chain networks. The utility token has a number of functions, as outlined below, and a maximum supply of 10,000,000,000. 

ANKR is primarily a form of payment on the platform but also offers staking functionalities and governance rights. 

How can I buy the Ankr token?

Tap's mobile app makes it effortless for users to acquire ANKR and store it in the integrated wallet with assurance. Not only can you benefit from a convenient place to acquire and store your ANKR token, but also withdraw coins immediately for use on the linked DeFi platform. Tap provides you with not just an easy way to trade digital assets, but also a reliable space where your assets holdings can remain securely stored over extended periods of time.

Unlock the potential of a range of verified cryptocurrencies and fiat wallets by downloading the Tap mobile app.

This leading top 5 cryptocurrency has made waves throughout the crypto industry and remains the top favorite stablecoin on the market. With often times the biggest trading volume in a day, Tether has established itself as an integral part of the crypto industry. Let's unpack more about the digital currency, Tether.  

Since the advent of digital internet money, there has been a wide growth in usage as well as outcry over the dangers of using this form of currency. While more traditional investors scorn the volatility associated with cryptocurrency markets, many other communities around the world have for the first time been able to access financial services, only needing an internet connection instead of lengthy bank account applications.

When it comes to the underlying security and transparency that digital currencies can provide, it directly tackles an infringing problem that the traditional currency markets regularly deal with. While many claim Bitcoin, and digital currencies in general, to be "risky" and a bubble, the truth is that the new age payment services have brought a multitude of results to an outdated system.

What Is Tether (USDT)?

Tether (USDT) is a cryptocurrency pegged to the US dollar, otherwise known as a stablecoin. Stablecoins hold the value of the fiat currency or commodity they are pegged to on a one-to-one ratio. Tether is the world's first stablecoin, originally launched for trade in 2014 under the name Realcoin.

While Tether was initially launched on the Omni Layer on the Bitcoin blockchain, it has since become compatible with a number of other blockchains, including Ethereum, TRON, EOS, Algorand, Solana, and the OMG Network.

A stablecoin requires the circulatory supply to be matched by funds stored in a reserve account. Tether uses a combination of commercial paper, deposits, cash, reserve repo notes, and treasury bills to maintain the circulating value. In the past there has been some speculation regarding Tether's backing, however, this has not affected the stablecoin's increasing popularity and buying power.

The core concept of Tether is to provide a digital asset with a stable market price that can harness the power of blockchain technology and the benefits of cryptocurrencies without incurring any of the volatility associated. You can visit the Tether site to gain a more thorough understanding of the intricacies of the coin.

What's The Value Of Tether?

While most cryptocurrencies have a value attached to their specific supply and demand, stablecoins are pegged to a fiat currency or commodity. This means that the value will remain consistent with the value of the fiat currency or commodity it is pegged to, generally this is on a 1:1 ratio.

For the case of Tether, the value will always reflect that of 1 US dollar. While the value remains the same, it is necessary to report that the stablecoin has managed to become one of the most widely traded cryptocurrencies on the market.

Who Created Tether?

As mentioned above Tether was initially called Realcoin when it was launched in 2014 and was created by Bitcoin investor Brock Pierce, entrepreneur Reeve Collins and software developer, Craig Sellars. It later changed its name to USTether, eventually settling on USDT.  

All three co-founders have profound experience within the crypto industry, each co-founding and actively involved in several cryptocurrency and blockchain projects.

The business has also created a number of other stablecoins solving the volatility problem across numerous markets, notably a Euro-pegged Tether coin (EURT), a Chinese Yuan-pegged Tether coin (CNHT), and a gold-pegged Tether coin (XAUT).  

How Does Tether Work?

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Tether does not have a blockchain of its own on which it operates. Instead, it operates as a second-layer token on top of other already establish blockchains, such as Bitcoin, Ethereum, EOS, Tron, Algorand, Bitcoin Cash and OMG.  

Tether still functions like any other cryptocurrency, being stored and maintained through wallets specific to the blockchain it is built on. Note that you cannot send USDT built on the Ethereum blockchain to a Tron-based wallet, it must remain on the relevant, same blockchains. The result of this would be lost coins.

The circulating supply of Tether is required to always be backed by the same amount of US dollars held in a reserve account. These reserves can also be made up of other real-world cash equivalents, assets, and receivables from loans.

Providing a stable digital currency in an otherwise relatively volatile market, Tether allows users to make USD trades, both internationally and locally, without any concerns over price movements. It also provides a valuable hedge against markets experiencing sudden or dramatic price dips.  

What Is USDT?

USDT is a stablecoin pegged to the US dollar on a 1:1 ratio. Created under the Tether brand, USDT is the most widely used stablecoin on the market today. There is an infinite supply of USDT available, with roughly 72.5 billion in circulation at the time of writing.  

USDT provides a safe haven for investors when markets go through major downward price trends, offering a stable price to move the value to without having to liquidate the digital assets to cash.  

How Can I Buy USDT?

If you would like to incorporate Tether (USDT) into your crypto portfolio you can do so easily through the Tap mobile trading app. After completing a simple KYC verification, users can gain access to a number of crypto markets and can store the digital assets in our unique, integrated crypto wallets.

The potential for blockchain and cryptocurrencies is vast. With the help of the Tap mobile app, you can manage your crypto portfolio and fiat on-the go while also utilising real world use cases like Tap prepaid card that offers payment access to over 40M+ merchants worldwide.