Learning the friendly way

Public Announcement from the Tap Team

Regarding Bittrex Global's Upcoming Closure

We are aware of the recent announcement from Bittrex Global that the exchange will be shutting down its operations. This news undoubtedly has an impact on XTP (Tap Token) holders, as Bittrex Global has been the primary listing venue for the token. We want to assure our community that we are working hard on a solution to minimise any disruption to XTP trading and liquidity.

We were equally taken aback by the announcement, just as much as our community.
‍

Our Immediate Actions

We are meticulously evaluating multiple options to offer XTP a new primary listing marketplace. We are determined to provide our users with an uninterrupted trading experience. In the meantime, please be reassured that XTP will continue trading on Bittrex Global until the exchange's closure.

Our Commitment to Transparency and Communication

We understand that this news may cause some uncertainty among our users. We are committed to keeping you informed of any major developments during this process. Our dedicated support team is readily available to offer professional assistance and provide comprehensive information to users who intend to transfer their XTP to their Tap wallet.
Please don't hesitate to get in touch with our support team, and we will ensure a seamless and guided transition for all our users.

Thank you for your continued support.

We appreciate your understanding and patience as we work through this situation. We are confident that we will find a solution that will be in the best interests of our community.

Athens, 09 April 2024

TAP'S ODYSSEY IN GLOBAL EXPANSION: ATHENS, GREECE OFFICES BEGIN OPERATIONS

Taking a significant step that embodies its global expansion goals and steadfast dedication to transforming the financial services industry, Tap is delighted to reveal the launch of its new offices in the historic city of Athens, Greece.

This move serves as a testament to the company's commitment to integrating the wisdom of ancient financial principles with the ingenuity of modern technology. Nestled in the city that birthed democracy, the new office is not just a physical space but a symbol of Tap's resolve to harmonise ancient financial wisdom with the innovations of today's fintech landscape.

This strategic expansion underscores Tap's commitment to democratise and innovate financial solutions across the globe, intertwining with the cultural and economic tapestry of Athens while still remaining true to the core principles that define Tap.

This expansion seamlessly aligns with Tap's global strategy, dedicated to reaching new markets and offering modern financial services to a diverse array of communities. This venture not only propels Tap's international presence but also actively contributes to Athens' economic progression, nurturing local talent, and enriching the city’s financial landscape.

This initiative represents far more than mere expansion; it marks the start of an exciting new chapter for Tap. As Tap embarks on this exciting new chapter, the company remains committed to its core values of innovation, transparency, and customer-centricity. With its presence in Athens, Tap is poised to make a lasting impact on the financial services landscape, empowering individuals and businesses with the tools they need to thrive in an increasingly digital world.
‍

About Tap Global

Tap is a leading fintech company dedicated to making money management and cryptocurrency more accessible and user-friendly across the globe. With a focus on security, compliance, and user-friendliness, Tap offers a wide range of digital assets and innovative features to empower cryptocurrency enthusiasts. For more information, visit www.withtap.com.

In today's interconnected global economy, the ability to manage finances across multiple currencies and cryptocurrencies is becoming increasingly important. New financial technologies are emerging to address this need, offering tools that simplify cross-border transactions and bridge the gap between traditional and digital currencies.

Streamlined Euro Payments

The Single Euro Payments Area (SEPA) system has revolutionised euro transactions across Europe. This standardised framework allows for efficient and cost-effective transfers between participating countries. Tap leverages this system to provide users with an exceptionally easy and affordable way to send EUR. With Tap, transferring euros becomes as simple as a few taps on your smartphone, making cross-border transactions more accessible than ever.

GBP Transactions with Faster Payments Service 

In the UK, the Faster Payments Service (FPS) has transformed the speed of domestic transactions. Tap integrates this system to offer users a remarkably simple, fast, and cheap method for sending GBP. Whether you're splitting a bill with friends or paying a supplier, Tap's FPS integration ensures your pounds are transferred almost instantly, 24/7, with minimal associated costs.

The Power of Stablecoins for International Transfers

Stablecoins have emerged as a crucial bridge between traditional currencies and the volatile world of cryptocurrencies. Tap offers the convenient option of converting Fiat or cryptocurrencies to stablecoins, providing a cost-effective and lightning-fast alternative to traditional SWIFT transfers for international payments. This feature is particularly valuable for those looking to avoid the delays and high fees often associated with cross-border bank transfers.

John, a London-based entrepreneur, shares her experience: “For urgent payments to my international suppliers, Tap's stablecoin transfer feature is an absolute godsend. I can swiftly convert my pounds to USDT and send payments anytime, with the assurance that they'll be processed almost instantly. It's made dealing with international payments an absolute doddle. Brilliant stuff, really.”

Exploring Cryptocurrency Options

For users who are comfortable with cryptocurrencies, Tap offers another layer of flexibility. The platform supports a wide range of cryptocurrencies, allowing users to send and receive various digital assets if that's their preferred method of transaction. This feature caters to crypto enthusiasts and those looking to leverage the unique benefits of blockchain-based transfers.

Integrating Traditional and Digital Finance

As the lines between traditional and digital finance continue to blur, Tap stands out by seamlessly handling both. This integrated solution offers several advantages:

1. Simplified management of diverse assets in one place

2. Easier conversion between traditional currencies and cryptocurrencies

3. Potential for reduced fees through the use of blockchain technology

4. Enhanced financial flexibility for global transactions

The Tap Network: Free Transactions Within the Ecosystem

One of Tap's most compelling features is its in-app Tap2Tap Network. This innovative system allows users to send both cryptocurrencies and fiat currencies to other Tap users in the app completely free of charge. By facilitating fee-free transactions within its ecosystem, Tap not only saves users money but also encourages a more interconnected financial community.

Whether you're sending euros across Europe, pounds within the UK, stablecoins for international transfers, or cryptocurrencies to fellow enthusiasts, Tap provides a comprehensive solution that combines speed, simplicity, and cost-effectiveness. The platform's integration of traditional banking systems, stablecoin functionality, and cryptocurrency support, all united under the fee-free Tap2Tap Network, represents a significant step forward in accessible, flexible global finance.

To experience the benefits of integrated currency and cryptocurrency management firsthand, consider exploring Tap. This innovative financial app combines support for SEPA and FPS transactions with a wide range of cryptocurrency options, including stablecoins and popular tokens. Visit www.withtap.com to learn more about how you can optimise your financial transactions across borders and digital assets, and start enjoying fee-free transfers within the Tap2Tap Network today.
‍

As 2024 winds down, Bitcoin is riding an increasingly bullish wave, capturing attention and sparking widespread speculation with each passing day. As prices continue to climb, market observers are buzzing about what might come next for the leading cryptocurrency. 

Michael Saylor, founder of MicroStrategy and a vocal Bitcoin advocate, weighed in with his usual bold optimism, offering his own Bitcoin price prediction along the lines of: "I would be surprised if we don’t surpass $100,000 before the end of 2024." 

His insights, along with those of other market experts, offer a glimpse into the potential paths Bitcoin might take as this bull run continues. Let’s explore what could be on the horizon.

This exploration offers a speculative view of potential pathways and should not be interpreted as financial advice.

Political and regulatory winds

There is no denying that the political landscape is shifting, hinting to a new phase for crypto. As more effort is put into legal frameworks and emerging legislative proposals, like the Bitcoin Strategic Reserve bill* for instance, crypto enthusiasts are becoming increasingly hopeful that soon digital assets will outgrow their speculative reputation and become a solidified part of institutional systems.

*If this bill is passed, the U.S. government would aim to collect one million Bitcoins over five years, which would make up about 5% of the total supply.

At the same time, regulations are becoming clearer and more supportive as more policymakers seem to understand that a well-structured approach can help protect investors while also encouraging financial innovation. As this continues to develop, more political leaders have become open to talking seriously about the role of cryptocurrencies in the economy. 

This growing acceptance indicates that digital assets are moving into the spotlight, and becoming an important part of discussions about the future of finance.

Institutional momentum

This week, Bitcoin hit a new milestone as BlackRock’s iShares Bitcoin Trust ETF (IBIT) options launched, generating nearly $2 billion in trading on day one. The surge pushed Bitcoin to a record $94,000.

The debut highlights the increasingly growing role of institutional investors in the market, as more companies develop strategies involving cryptocurrencies, and financial institutions refine their approach to managing digital assets. All this further accelerates cryptocurrency's move into the mainstream.

Technological and market dynamics

As the greater crypto ecosystem is constantly evolving with new tech developments, more people around the world are understanding more and becoming more aware of cryptocurrency and blockchain technology. Even if this comes through market entries such as Hamster Kombat. 

It’s important to remember that technological innovation and market perception work together, shaping how Bitcoin and similar assets are viewed, valued, and used, which in turn affects their market behavior.

Potential scenarios

While it is impossible to make definitive predictions, several potential pathways are being discussed by market observers. Institutions may continue to explore the role of Bitcoin within diversified portfolios, and there is potential for greater integration of digital assets into mainstream finance. 

However, it’s also worth noting that Bitcoin’s strong bullish momentum, seen in both its price and oscillators, comes with the risk of a correction. While corrections are a normal part of market cycles and can support long-term growth, they can also create short-term instability and losses among traders. 

Unexpected events or broader market downturns could make these corrections more significant, affecting Bitcoin’s value and adoption.

Critical considerations

With all this in mind, it’s important to remember that cryptocurrency is known for its market volatility, and global economic conditions play a key role in shaping its future. Additionally, ongoing technological advancements are continually influencing both how people perceive digital assets and how they’re used in the real world. 

Whether you're engaging in trading or investing, mastering risk management is crucial for your financial journey. It's about ensuring your hard-earned money is protected and your decisions are well-informed. In this article, we'll delve into the importance of risk management and discuss five essential strategies to consider.

What is effective risk management and why is it important?

Effective risk management is a vital process that assists individuals involved in investment and trading in recognizing, evaluating, and addressing potential risks associated with their activities.

Essentially, it enables investors and traders to make well-informed decisions, optimize outcomes, and pursue sustained financial well-being despite fluctuations in the market. It's crucial because it safeguards your assets and enhances decision-making. By proactively identifying risks, you can implement measures to protect your resources and mitigate potential setbacks. Employing these risk management approaches equips you with an efficient set of tools to minimize risk within your investment portfolio.

The 4 pillars of a risk management strategy

Any established risk management process encompasses these four primary methods:

Accepting risks

This means being aware of and willingly taking on the risks associated with an investment without pouring extra resources into avoiding them. It's a smart move when the potential loss isn't too significant.

Transferring risks

This method entail shifting the burden of risk to a third party, typically for a fee, thus reducing direct responsibility.

Risk avoidance

After doing a risk assessment, opting not to invest in assets with potential risk altogether eliminates the chance of facing potential losses.

Risk reduction

Diversifying your portfolio across different assets or industries helps minimize the financial impact of risky investments, providing a more balanced and protected risk strategy approach.

The four pillars of risk management - acceptance, transferring risks, risk avoidance, and diversification - are crucial components of a robust risk management strategy, vital for safeguarding investments.

5 risk management strategies to implement

Below we will explore five essential risk assessment strategies that will empower you to make informed decisions and protect your investments. They also provide the answer to the burning question: why is having a reliable risk management strategy important?

1. Set both stop-loss and take-profit points

A stop-loss order sets a predetermined price for an asset at which the position will close. The stop price is set below the current price and, when triggered, helps protect against further losses. A take-profit order works the opposite way, setting a price at which you want to close your position and lock in a certain profit.

 To better explain this risk strategy let's assume you purchased a stock at $100 per share.

Stop loss: You set a stop-loss order at $90 per share. If the stock's price drops to $90 or below, the stop-loss order will trigger, and your position will automatically be closed, helping to limit your potential losses.

Take profit: You set a take-profit order at $120 per share. If the stock's price rises to $120 or above, the take-profit order will trigger, and your position will automatically be closed, locking in your desired profit.

Stop-loss and take-profit orders help you manage your financial risk in two ways. First, they can be set up in advance and will be executed automatically. There's no need to be available 24/7, and your pre-set orders will be triggered if prices are particularly volatile. This also allows you to set realistic limits for the losses and profits you can take. 

It’s better to set these limits in advance rather than in the heat of the moment. While it can be strange to think of take-profit orders as part of a risk management strategy, you shouldn't forget that the longer you wait to take profit, the higher the risk the market could fall again while waiting for an additional upside.

2. Have an exit strategy in place

An exit strategy is a predefined plan for investors and traders to exit their positions and leave their investments or trades. It's vital as it safeguards capital and reduces potential losses. 

With a clear exit strategy, decisions are objective, avoiding emotional biases and market fluctuations. It also ensures timely profit-taking, preventing missed opportunities and significant losses from holding onto investments too long. 

Using exit strategies like limit orders helps maintain discipline and rationality, avoiding impulsive decisions driven by emotions such as greed or hype. By implementing an exit strategy, traders can navigate the markets with a level-headed approach.

3. Diversification implementation

Diversification is a crucial investment strategy that involves spreading your investments across different assets to manage risk effectively. By diversifying, you can reduce the impact of market volatility on your overall portfolio. 

Investing in various asset classes, such as stocks, bonds, real estate, and commodities, ensures that your portfolio isn't overly dependent on a single asset's performance. This minimizes the risk of significant losses during market downturns. 

To create a well-diversified investment portfolio, consider factors like risk tolerance, financial goals, and time horizon. Allocate your investments strategically to achieve a balanced and resilient portfolio that can weather various market conditions.

4. Use the 1% rule

The 1% rule is a risk management strategy where you limit the amount you risk on an investment to just 1% of your total capital. For instance, if you have $10,000 to invest, you'd avoid risking more than $100 on a single trade. 

To implement this rule, you can purchase $10,000 worth of a stock or cryptocurrency and set a stop-loss order at $9,900, limiting potential losses to 1% of your total investment. Alternatively, you could invest $100 in a stock without a stop-loss order, ensuring a maximum loss of 1% if the asset's price drops to zero. 

This rule is applicable across all investment types, however, it is more important in volatile markets as it prevents excessive risks and potential heavy losses due to greed or high expectations.

5. Position sizing and risk-reward ratio

Position sizing and risk-reward ratio are fundamental concepts in effective risk management for investors and traders. Position sizing refers to determining the appropriate amount of capital to allocate to each trade, considering the risk tolerance and total portfolio size. By sizing positions correctly, investors can minimize the impact of potential losses on their overall portfolio.

Calculating the risk-reward ratio involves assessing the potential profit against the potential loss for each trade. A favorable risk-reward ratio ensures that potential gains outweigh potential losses, increasing the probability of overall profitability.

Balancing potential gains and losses through appropriate position sizing and risk-reward ratio is crucial for achieving long-term success in the financial markets. By aligning these factors, traders can optimize their trading strategies and protect their capital while seeking profitable opportunities.

In conclusion

ffectively managing risk is considered crucial for investors and traders aiming for financial success. By incorporating these five diverse risk management strategies, you can potentially navigate the markets and safeguard your investments.

Manage risk by embracing diversification to potentially mitigate the impact of market volatility, set stop-loss and take-profit points to automate risk management, and establish a clear exit strategy to potentially secure profits and minimize losses. Adhering to certain principles, such as the 1% rule, may be considered to potentially avoid excessive risks, and understanding position sizing and risk-reward ratios may be beneficial to potentially optimize trades.

It's worth noting that each individual's financial situation is unique, and it may be advisable to consult with a licensed financial advisor to receive personalized guidance and recommendations tailored to your specific needs and goals. With these tools at your disposal, coupled with conducting thorough risk assessments and vigilant risk monitoring, you will better prepared to navigate the ever-evolving landscape of finance.

‍

RFID (radio frequency identification) credit cards are payment cards that use radio frequency technology for contactless payments. While the technology has been around since 1973, these cards have only recently gained increasing popularity, with many major credit card issuers offering RFID-enabled cards as the default option. The rise of RFID credit cards has been driven by consumer demand for faster, more convenient payment experiences.

You can spot RFID credit cards easily by the unique logo on the card, resembling a Wi-Fi symbol. This icon indicates that the card has RFID technology that allows contactless, tap-and-go payments. Seeing this logo, consumers can swiftly identify RFID-enabled cards, distinguishing them from traditional magnetic stripe cards.

How RFID credit cards work

RFID technology in credit cards is designed to allow for quick, convenient contactless payments. So, when buying an item you simply need to tap or wave your RFID-enabled card near a payment terminal, which initiates the card's embedded RFID chip to communicate with the reader using radio frequency signals. 

This wireless communication allows the reader to securely access the necessary payment information, such as the card number and expiration date, without physically swiping or inserting the card. Exchanging this data over a short distance facilitates fast, frictionless transactions for consumers.

Compared to traditional card insertion or swiping techniques, this wireless payment method significantly streamlines the checkout process.

Security features of RFID cards

RFID credit cards offer strong security to prevent fraud and theft. They use advanced encryption protocols to protect payment data, ensuring it stays safe during transactions, so even if the signal is intercepted, the information remains unreadable to unauthorised parties. 

Additionally, many RFID credit cards feature built-in anti-skimming technology to prevent card information from being illegally accessed or cloned. These security measures provide customers with peace of mind when making contactless payments.

RFID credit cards vs traditional magnetic stripe cards

RFID credit cards offer significant advantages over traditional magnetic stripe cards. With contactless payment capabilities, RFID cards provide a more secure and convenient payment experience. The wireless, encrypted communication between the RFID chip and the reader helps prevent fraud, as card data is less exposed compared to magnetic stripe cards that require physical swiping. Additionally, RFID transactions are faster and more seamless, reducing checkout times for consumers.

As RFID technology continues to mature and become more widely adopted, it's expected that RFID credit cards will become the new standard. Consumers are increasingly demanding the speed and convenience of contactless payments, and merchants are rapidly upgrading their infrastructure to accept RFID transactions. The migration towards RFID credit cards is a clear industry trend that is likely to accelerate in the coming years.

RFID credit cards and contactless payment methods

RFID credit cards are just one type of contactless payment method, which also includes mobile wallets and wearable devices. While these all leverage wireless technology for faster, more convenient transactions, RFID credit cards offer a uniquely familiar payment experience for consumers.

Compared to mobile or wearable contactless options, RFID credit cards provide the same familiar feel as traditional cards, with the added benefit of quicker, more secure transactions. However, mobile wallets and wearables offer additional functionality, like the ability to store multiple payment cards digitally. 

Ultimately, both RFID credit cards and other contactless payment methods are driving the shift towards a more seamless, frictionless payment landscape. Consumers now have more choice than ever when it comes to fast, convenient ways to make purchases.

Benefits of using RFID credit cards for payments

Using RFID credit cards offers numerous benefits for both consumers and merchants. The tap-and-go convenience of RFID payments streamlines the checkout process, reducing transaction times compared to traditional swiping or inserting cards. This increased speed and efficiency can be especially advantageous in fast-paced environments like quick-service restaurants or transit systems.

Moreover, the enhanced security features of RFID cards, such as encrypted data transmission and anti-skimming technology, help protect against fraud. Businesses that accept RFID payments report reduced incidences of chargebacks and improved customer trust. 

Overall, the combination of convenience and security makes RFID credit cards an attractive payment option for consumers and merchants alike.

Closing thoughts 

In conclusion, RFID credit cards are revolutionising the payment landscape by offering a more convenient, secure, and streamlined payment experience for both consumers and merchants. As the adoption of this technology continues to grow, RFID credit cards are poised to become the new standard in the credit card industry.

‍