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!

In today's digital age, social media platforms have become an integral part of our lives. They offer immense opportunities for networking and staying connected. However, it is crucial to exercise caution when engaging with others on social media, especially regarding financial matters. 

In this article, we will delve into the topic of identifying fake Tap accounts on social media and discuss the importance of exercising caution to protect your financial well-being.

The rise of fake accounts

With the increasing popularity of online banking and fintech services, it is not surprising that scammers are now gravitating towards social media platforms. Fake accounts and impersonating legitimate financial institutions are on the rise. 

These malicious actors intend to deceive unsuspecting individuals for their personal gain, whether it's stealing personal information, obtaining access to your financial accounts, or luring you into fraudulent schemes.

How to spot a fake Tap account

Here are four key steps to take if you suspect something fishy. 

1. Scrutinize the profile

Look out for inconsistencies in names, logos, or usernames. Authentic Tap accounts will feature the actual Tap logo and a yellow verified checkmark on Twitter. Fake accounts often use slight variations or misspellings to deceive users.

2. Verify the URL

Legitimate Tap accounts will have a clear and distinct URL associated with their official website. Before engaging with any links, downloading the app, or providing personal information, ensure that the URL matches the official Tap website. Be cautious of URLs that contain additional words or numbers, as they may indicate a fake account. 

3. Review activity

Fake Tap accounts typically have minimal activity, few followers, and a limited history of posts. Legitimate accounts, on the other hand, are likely to have a significant number of followers and regularly post relevant content.

4. Check for verified badges

Most social media platforms offer verified badges to authenticate official accounts. These badges signify that the account is genuine and can be trusted. Look out for such badges when dealing with financial institutions online.

Fake account red flags

• Tap will never ask you for sensitive information (wallet addresses, card details, personal information, etc.)
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• While Tap runs promotions, these will never entail you needing to send funds. Also note that Tap does not offer airdrops. 
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• Communication is prioritized through the app, be cautious of any communication outside of this avenue. 
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• Any communication initiated from social media accounts must be reported, the Tap team will never message you first. 
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• Tap will never contact you informing you that you need to replace your card or to make any type of investment. 

Tap’s official accounts

To stay on the safe side, below are Tap’s official accounts across the various social media platforms. 

Website: https://www.withtap.com/  

Twitter: https://twitter.com/Tap_Fintech  

Instagram: https://www.instagram.com/tap.global/ 

LinkedIn: https://www.linkedin.com/company/tapglobal/

Telegram: https://t.me/officialtapngo 

App: here is the official link to download the app on IOS & on Android.

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The importance of exercising caution online

Below we’ve outlined why it’s imperative that you remain vigilant online, not just in terms of Tap, but for all your accounts. 

Protect your personal information

Sharing personal or financial details with fake accounts can lead to identity theft, financial fraud, or unauthorized access to your accounts. Always remember that genuine financial institutions would never ask for sensitive information via social media or email. 

Prevent financial loss

Engaging with fake accounts can lead to financial loss through scams and fraudulent activities. By being vigilant and cautious, you can protect your hard-earned money from falling into the wrong hands.

Safeguard your financial future

Exercising caution on social media not only protects your current financial well-being but also ensures a secure future. By avoiding scams and fraudulent schemes, you can maintain control over your finances and make informed decisions.

Preserve your online reputation

Interacting with fake accounts can put your online reputation at risk. Scammers often trick individuals into participating in illegal activities unknowingly, which can damage your personal and professional image.

Conclusion

In the ever-evolving digital landscape, it is crucial to be aware of the presence of fake Tap accounts on social media. By familiarizing yourself with the telltale signs of fake accounts and practicing caution, you can protect yourself from falling victim to financial scams. 

Always verify the authenticity of any Tap account before sharing personal information or engaging in financial transactions. Remember, your financial safety is in your hands, and exercising caution is pivotal in safeguarding your financial well-being.

In the chronicles of cryptocurrency folklore, few events are as groundbreaking or as heartily celebrated as Bitcoin Pizza Day. This annual commemoration observed on the 22nd of May, looks back to one of the earliest real-world transactions involving Bitcoin. It's a momentous occasion that serves as a delicious reminder of the humble origins and astonishing growth of Bitcoin and the broader cryptocurrency ecosystem.

On May 18, 2010, a Florida-based programmer named Laszlo Hanyecz made a legendary post on the BitcoinTalk forum. In this post, he stated that he wanted to buy two large pizzas in exchange for 10,000 Bitcoins. He laid out his preferences for the pizza toppings and expressed his desire to have the pizzas delivered to his house, hoping to make the transaction as simple as possible​.

In a surprising turn of events, just four days later, a fellow Bitcoin enthusiast named Jeremy Sturdivant, aka "jercos," stepped up to the plate and accepted Laszlo's tasty offer. The deal was sealed, and before long, two piping-hot pizzas arrived at Laszlo's doorstep. 

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This marked the first-ever recorded real-world transaction using Bitcoin as a currency, setting a precedent for future use cases​.

Now, you might be wondering, "What's the big deal? It was just $25 worth of pizza, right?" Well, my friend, hold onto your appetites. At the time, those 10,000 Bitcoins were valued at a mere $41. But fast forward to today, and they would be worth millions! That's right, Laszlo's pizza purchase turned out to be one of the most valuable slices of all time.

The Bitcoin community cherishes this moment, not just for its historical importance, but for the staggering financial implications of the transaction. And so, every year, Bitcoin enthusiasts and crypto communities around the world come together to celebrate Bitcoin Pizza Day.

It's a time to reflect on Bitcoin's humble origins and its remarkable growth into a globally recognized asset class. We raise our forks and cheer for Laszlo, who unwittingly set in motion a revolution in the world of finance and beyond.

But Bitcoin Pizza Day isn't just about looking back; it's about looking forward too. The blockchain technology that underpins Bitcoin has evolved and found its way into various industries, from finance to supply chain management and even healthcare. 

Cryptocurrencies themselves have diversified, with thousands now available, each with its unique features and use cases. While Bitcoin was the first cryptocurrency and remains the most widely recognized and valued, the crypto landscape has blossomed since Laszlo's pizza adventure.

Laszlo Hanyecz's simple act of buying two pizzas has grown into a grand annual tradition. The power of his story lies in its illustration of Bitcoin's potential and the limitless possibilities of cryptocurrency. This tale is often shared with newcomers to the crypto space, serving as a poignant reminder of Bitcoin's transformative journey and its potential for future growth.

Bitcoin Pizza Day serves as a reminder of how far we've come and a celebration of the potential yet to be realized. It's a testament to the power of a community and the revolutionary potential of a good idea. As we chow down on our own slices this Bitcoin Pizza Day, let's raise a slice to Hanyecz, to Bitcoin, and to the incredible journey of cryptocurrencies.

To learn more about the history of Bitcoin, you can explore the original Bitcoin whitepaper published by Satoshi Nakamoto in 2008. If you're new to the crypto space and want to understand more about blockchain technology, this comprehensive guide is a great place to start.

Happy Bitcoin Pizza Day to all! 🍕 May your celebrations be filled with joy, laughter, and, of course, lots of tasty slices. Cheers to many more slices of history yet to be made!