Learning the friendly way

Online banking scams are becoming more prevalent these days, and it's crucial for you to be aware and stay vigilant.

At Tap, we take security seriously and work tirelessly to provide you with a safe experience. However, we also believe in educating our community about the various types of scams they might come across.

By learning how to identify online scammers, you can protect yourself and your hard-earned money effectively. So, let's explore some tips on recognizing these scams and ensuring your financial safety.

Stay Alert: Spotting the red flags for financial scams

If you happen to stumble upon any of these telltale signs while scrolling through your social media feed, chances are high that you're dealing with a scam:

- Mentions of "free money".

- The mention of “Airdrop”.

- Images flaunting large sums of cash or luxurious items.

- References to Tap "support" or "representative".

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Tap will never ask over the phone, chat, email, text, or social media for you to provide:

- Seed phrase / private key of your wallet.
- Personal Information. (name, credentials, email address/ phone number).
- Asking you to send in additional funds in order to release funds you hold on deposit.
- Advise you that in order for your transaction to be processed on chain, you need to send in additional funds.

Types of scams to look out for:

Phishing‍

Be on guard against phishing attacks! Scammers employ deceptive links, messages, or emails (often boasting a sense of urgency) to deceive you into divulging your passwords or private keys. Stay vigilant and never fall for their tricks! Protect your sensitive information and avoid replying to any message or email that was not solicited in the first place.

Impersonation

Watch out for impersonation scams. Scammers pretend to be someone they're not, like celebrities or trading experts, with the aim of convincing you to invest based on their reputation.
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Pump and Dump

Watch out for the infamous "Pump and Dump" hustle! These scammers go to great lengths to create a buzz around a completely worthless cryptocurrency. They manipulate unsuspecting investors into driving up the price ("pump") before the scammer makes a swift exit by selling off their own stash ("dumps"). Don't fall for their tricks and be sure to steer clear of these deceptive tactics!

Cash or money flipping 

Beware of "cash flipping" schemes on social media platforms like Instagram, Facebook, and Twitter. Look out for posts with images of cash or luxury items, and flooded with hashtags like #fastcash, #cashflip or #moneyflip.

These scammers claim to possess a "secret" investment strategy where if you send them money, they'll multiply it tenfold. Remember, these are too good to be true!

Fake Tap support websites and social media profiles 

Beware of fake Tap support websites and social media profiles. These cunning scammers go to great lengths, setting up deceptive "Tap Support" websites and social media accounts. Their ultimate aim is to trick unsuspecting members into revealing their login credentials and sensitive account information.

Remember, authentic Tap social media accounts are listed on the footer of our official website, www.withtap.com. To be absolutely certain you're engaging with genuine Tap channels, visit our homepage and click on the social media icons located at the bottom of the page (see the picture below). Additionally, please be aware that our team will never initiate contact with you first on social media. Stay vigilant!

‍Malware

Stay one step ahead of malware! Crafty scammers use malicious viruses or trojans to invade your computer or mobile device, snatching away your passwords or private keys and draining your hard-earned cryptocurrency from your wallet.

Tips for ensuring your safety and preventing scams

Scammers are incredibly resourceful and constantly come up with new and inventive ways to deceive unsuspecting individuals. While we have covered several popular scam techniques earlier, it is important to understand that this list is not exhaustive.

Given the vast array of scams out there, it is crucial to maintain a vigilant attitude. We want to emphasize that Tap will never initiate contact with you via phone, email, or text message to request personal information or passwords.

To further enhance your security, here are a few additional tips:

• Refrain from sharing personal details such as your account number, username, password, Social Security number, birthdate, or address with strangers or on unsecured websites.
  
  
• Enable push notifications in the Tap app so that you receive immediate alerts regarding suspicious activities.
  
  
• Avoid writing any identifying information, especially your PIN, directly on your debit card.
  
  
• Whenever you don't plan on using your card, you can safeguard yourself by blocking all debit card transactions through a quick swipe in the app. It freezes your card temporarily.
  
  
• If you suspect that your account has been compromised, it is imperative to change your password immediately. Additionally, if you believe you have fallen victim to a scam, please immediately reach out to Tap support and report the incident to the police without delay.

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By following these precautions, you can significantly reduce the risk of falling prey to scams and ensure your personal information remains secure.

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Tap’s approach to addressing scams and protecting users

At Tap, we are continuously working to combat the presence of fake accounts and take swift action to shut them down. However, despite our efforts, new fraudulent accounts may still surface.

Your personal information security is of paramount importance to us, and we strongly urge you to exercise caution in safeguarding it. If you come across any suspicious activity or encounter a scam, we appreciate your proactive assistance in bringing it to our attention as soon as possible.

To report a scam or share information regarding fraudulent incidents, you can reach out to us via our support live chat in the app, our support email (All the ways to contact us are available here : https://www.withtap.com/contact-us). Your input plays a crucial role in helping us combat scams effectively.

Rest assured we are committed to maintaining a secure environment for all Tap users, and your cooperation in reporting scams is greatly appreciated. Together, we can work towards a safer community and protect one another from fraudulent activities.

The performance of the money markets in 2022 was far from impressive. With inflation on the rise and real estate facing significant speculation, various markets experienced substantial setbacks. This includes the S&P 500, a typically used gauge of economic well-being, which saw a decline of 20%.

Among the fear and uncertainty, it's important to remember that markets ebb and flow and will recover, the only unknown is when this will happen.

While the golden rule is to remain level-headed and not make trades based on emotion (primarily fear), we understand that that's sometimes easier said than done. Remain a successful investor despite the market dip by conquering the emotional aspect of trading and getting a better grip on your investment portfolio.

You've assessed your risk tolerance, researched historical market volatility, and built an investing strategy, now tackle the winds of the bear market head-on with these three valuable tricks to avoid making costly mistakes. 

3 tips on avoiding costly mistakes during market downturn

Investing in the stock market, or any emerging markets is like riding a rollercoaster, when the markets are down the only ones that get hurt are the ones that jump off. It is often more valuable to hold your investment and wait for the markets to recover (and yes, this may take years) than to liquidate a trade and make a permanent loss. 

Consider how long the stock market has been operating and how many bear and bull markets it has experienced. The past performance of market history shows us that it will always correct itself.

1. Don’t abandon your investments

When your retirement account drops in value, it can be tempting to "protect" the remaining funds by selling off high-risk mutual funds or equity securities and moving them into something that is perceived as a "safe option" until the stock market steadies.

However, when investors try to exit the market this way, more often than not they end up losing more money than they would have had they ridden out the rollercoaster. 

Remember, investing is a long-term game and requires a certain level of discipline, consistency, and patience. Financial journeys rarely turn to millionaire status overnight and should be centered around building long-term wealth as opposed to overnight success.

Instead of focusing on day-to-day or month-to-month performances, focus on the bigger picture. When the markets rebound and your balances start to reflect this, you will be grateful you left your diversified portfolio intact.

2. Take advantage of the "discount" prices and keep growing your investment portfolio

According to a study by Allianz Life, 54% of Americans have cut back or altogether stopped savings for retirement due to concerns about inflation. While we know investing involves risk, this can be a very costly mistake in the long run. 

Consider periods of a market downturn as "sales" that offer shares on the stock market at discounted prices. When the markets are down, the same stocks that were previously being traded for high amounts are suddenly going for much less. "Buy the dip" is a popular investment phrase that encourages investors to buy when prices are down. 

If investing when the markets are down makes you nervous, consider the data: historically, stock markets always recover. It might take years or months, but stock prices will return to previous levels, and more than likely exceed these. As will your investment portfolio's balance. 

3. Consider talking to a professional financial advisor

While the main aim is to stick to the straight and narrow of fact-based trading as opposed to emotion-based, there is never a bad time to seek professional help when you think you might need it. A professional financial advisor can advise on questions or ideas you might have for managing your portfolio and might offer some peace of mind during dark times. 

There's never a wrong time to ask for help, and never feel like you need to brave the markets solo. 

Keep your investments on track (stock market and otherwise)

Investing isn't for the faint-hearted, especially when the markets are going through a dip. Consider the 2007 financial crisis for example, it took five years for the markets to recover from rock bottom, and a few more months to reach highs achieved right before the dip.

The markets will always recover, it's how you handle the dips that will determine the success of your investments. If you're ever uncertain, consider talking to a financial advisor who can guide you in the right direction.

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As we approach the 2024 U.S. presidential election, a new force is emerging in the political landscape: the crypto generation. Young voters, particularly Gen Zs and Millennials, are not only becoming a significant voting force but are also bringing with them a strong interest in cryptocurrency and blockchain technology. This intersection of youth, technology, and politics could potentially reshape the outcome of the upcoming election.

The rising power of young voters

The political influence of young Americans has been growing steadily over the past few election cycles. In the 2020 election, voter turnout among those under 30 reached 55%, a significant increase from 44% in 2016. 

What's more, the sheer size of this voting bloc is impossible to ignore. Gen Z and Millennial voters now make up 40% of all eligible voters and are projected to become the majority of the electorate by 2028. This demographic shift is introducing new priorities and viewpoints into political discussions.

The crypto connection

One of the most interesting parts of this surge in young voters is their strong interest in cryptocurrency and blockchain technology. Recent data shows that 34% of people who own crypto are between 18 and 34 years old. This isn't just about investment trends - it reflects a broader dissatisfaction with the current financial system and a desire for change.

Consider these statistics:

• Only 7% of young Americans report that the current financial system works well for them.
• 38% of young voters believe crypto and blockchain can increase economic opportunities in ways traditional finance can't.
• 51% of young voters are likely to support crypto-friendly candidates in 2024.

These numbers suggest that crypto policy could become a key issue in the upcoming election, especially in battleground states where the margins are often very close.

A look at battleground states: where crypto could tip the scales

In key swing states, the combination of high youth turnout and growing crypto enthusiasm could be a game-changer. 

Take Georgia as an example, where supporters of the Stand with Crypto movement now outnumber the vote difference that decided the 2020 election there, by three times. And in Arizona, nearly 90% of crypto owners under 44 believe the financial system needs change, with over a quarter wanting a complete overhaul. 

Meanwhile, in Michigan, youth voter turnout jumped from 42% in 2016 to 54% in 2020, indicating that the crypto vote could be crucial.

Beyond party lines: crypto as a bipartisan issue

Interestingly, crypto enthusiasm crosses traditional party lines. Among previous or current crypto owners under 35 in swing states, 41% identify as Democrats, 39% as Republicans, and 20% as independent or other. 

This suggests that crypto policy could be a unique issue capable of attracting voters from across the political spectrum.

A call for financial innovation

The rise of the crypto generation in politics reflects more than just an interest in digital assets. It signifies a broader desire for financial innovation and economic opportunity. 

Young voters, facing challenges such as rising living costs and student debt, are looking to blockchain technology as a potential solution to systemic economic issues. 

This aligns perfectly with the original vision behind Bitcoin's creation: a decentralised financial system designed to address the shortcomings of traditional banking and monetary policy.

Conclusion

The 2024 election is quickly approaching, and it's clear that candidates at all levels will need to address the concerns of the "crypto generation." Whether it’s clarifying regulations for digital assets or exploring blockchain for government services, politicians who can connect with these topics could have a significant edge. 

It’s not just crypto investments that this generation is after; they’re investing in a vision for a more accessible, efficient, and innovative financial future. As more of them head to the polls, this vision could become a defining aspect of American politics for years to come.‍

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_{Note: This article is based on data and trends as of August 2024. As with all political and technological trends, the landscape may shift rapidly. Readers are encouraged to stay informed about the latest developments in both the political and crypto spheres.}

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Generally when one mentions investing, one thinks of stocks. Forming the foundation of more investment journeys, stocks or equities provide a tried and tested option for using capital to gain profits. In this article, we’re guiding you through the most important concepts you need to know when it comes to investing in the stock market, from what stocks are exactly to how to stock market basics. 

What are stocks? 

Also referred to as equity or shares, individual stocks are securities that provide fractional ownership in a company. Units of stock are called shares and entitle holders to "own" a small part of the issuing corporation. This can also entitle the owner to receive dividends from any profits the company might earn.

Other terms one might hear are exchange-traded funds (ETFs) which are stocks based on pooled investments that mimic the price of the underlying asset allocation while mutual funds are professionally managed investment funds. An investment portfolio can be made up of a collection of the above, or individual stocks, depending on your financial goals.

Stock market vs stock exchange

Stocks are traded on stock exchanges around the world and their price is driven by supply and demand. The term stock market refers to the entire industry while the term stock exchange refers to the platforms on which stocks are traded. 

What is a stock exchange?

A stock exchange is an exchange platform where publicly-traded stocks can be purchased and sold through buyers and sellers, like the New York Stock Exchange for example. Initial Public Offerings (IPO's) are the primary mechanism of raising capital, where organizations sell shares to the general public in exchange for capital. This process allows the business to expand without incurring debt. 

In exchange for being allowed to offer shares to the public, companies are obliged by law to publish financial information about the company's performance and grant shareholders a voice in how the business operates.

Advantages of investing in stocks 

Before engaging in any stock market investing it is important to determine your risk tolerance. This pairs your current financial situation with the amount of risk you are willing to endure, anywhere from low risk to high risk. It's best to consult a financial planner should you be unsure. 

Once this has been determined, you can build a strategy for your stock investments and partake in the many advantages that the stock market has on offer. 

Profits

Should a company's share price increase, investors can make considerable profits by selling the shares at the right time. 

Ownership

Shares provide investors with ownership in the company relative to the number of shares they own. As a shareholder, you gain access to a portion of the profits and may also receive voting rights within the business. 

Dividends

Investors can earn passive income by receiving dividends from a company they have invested in when they pay out the profits made over a certain time period. Some companies offer quarterly dividends while others are annual. 

Income and growth

Stocks deliver an ideal investment opportunity that can provide both income and growth. Investors looking for a more risk-averse investment and stronger financial stability will benefit from engaging in the stock market. 

Experts can leverage your earnings

Skilled fund managers understand mutual funds inside and out, gaining skills that allow them to optimize investments to capitalize on market fluctuations. Constantly monitoring equity funds for opportunities to better position clients' portfolios, these experts continually revise their strategies as needed.

Disadvantages of investing in stocks

Requires time

If you are new to the industry and intend to invest on your own, you will need to undergo a considerable amount of research on each company before investing in it. You will also need to learn how to read financial statements and annual reports and keep an eye on the news when determining whether a company might be profitable in the near future. 

No guarantees

While considered one of the "safer" investment options, individual stocks can still be high risk as there is no guarantee of what might happen to a company on a year-to-year basis or that you won't lose money. Always determine your risk tolerance before investing in the stock market.

Fluctuating prices

All markets are subject to volatility and the stock market is no exception. Be sure not to fall into the trap of making trading decisions based on emotion and stick to the golden rule: buy low, sell high. 

How to invest in the stock market

Ready to start investing in the stock market? The process is probably simpler than you thought it would be. 

1. Find a brokerage account most suitable for your investment goals
   Consider your short and long-term goals and determine which account is best suited to you, from college savings accounts to an individual retirement account to everything in between. 
2. Find a brokerage company
   Next, you'll want to find a brokerage company. Consider their available investment options, reputation, and fees when looking for the right fit. If you're looking to invest in stock mutual funds, individual stocks, or index funds, be sure that the brokerage account (or brokerage firm) provides the relevant services.
3. Deposit funds
   Once you've opened your account you will need to deposit money to get started. This is generally in the form of a lump sum, however, monthly recurring payments can also be set up.  
4. Determine which investments you want to open
   After opening an account you can begin to purchase and sell stocks, as well as bonds, stock mutual funds or general mutual funds, index funds, and ETFs that are composed of hundreds of securities. Whether investing in various individual stocks or the investment options listed above, consider using a diversified, risk-friendly approach whereby you don't put all your eggs in one basket. 
5. Confirm your investments by purchasing them
   Once you've decided what to purchase, simply enter the ticker symbol in the buy field and specify how many shares you would like to acquire. And that's how you enter the stock market world.

Final thoughts

By their very nature, stock market investing can be volatile with numerous internal and external factors outside of the control of retail investors affecting stock prices. While exchange-traded funds and mutual funds might diversify this risk, it's best to assume that you are still susceptible to it.

During times of extreme price fluctuations within the stock market don't make emotional decisions and instead maintain patience. Consider writing down your goals beforehand and referring to this in times of market turbulence. Having a diversified portfolio of individual stocks will help mitigate risk. 

It's critical to understand your risk tolerance before investing in the stock market and make sure you get investment advice from an expert so that you can determine the best course of action for yourself. By analyzing your personal financial situation, they are able to advise you on the best route for your financial goals, from whether it's best to invest in individual stocks or index funds before you start investing.

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Never underestimate the power of emotions and trading. While this might sound redundant, emotions play a much larger role in decision making than most might like to admit, and crypto trading is no exception. In order to make successful decisions, traders need to avoid the emotional rollercoaster and learn to look at the markets objectively. 

Here we will show you how to master the emotional pitfalls of decision making when it comes to trading, a skill every successful trader has acquired at some point in their journey. Outlined below are several points one can incorporate into their trading practices, whether trading daily or once a month. 

Outline Your Trading Goals

Before you implement any of these strategies into your trading practices, first establish what your trading goals are. Are you looking to make small returns on short term trades, or are you looking to make smart decisions over a long period of time? When it comes to mastering emotional management in trading you will need to ensure that every decision is in the best interests of your ultimate goal.

Black And White

Learn to remove the grey areas when it comes to decision making and view crypto trading in black and white, i.e. trade like a robot. By incorporating a systematic and rule-based approach to trading you can automatically alleviate the grey areas, this might include algorithms and computer-executed trading strategies. 

Red Light, Green Light

Colours play a huge role in our psyche and can often trigger an emotional response. For instance, if you see a big red candle this will likely stir feelings attached to danger, stopping and signs of warning. Don’t fall into the trap of allowing this to trigger you, and the same goes for seeing green candles. Don’t allow these colours to trigger your emotions and make decisions that deviate from your end goal. 

Axiomatic Framework

Solidify a set of rules for your trading practices that provide unquestionable pathways through which you can trade. For example, set up entries, exits, risk limits and stop orders. Also look at establishing rules in advance around when to exit a trade if it moves favourably or unfavourably, and what your risk parameters are. 

If a trade does not entirely meet all the predetermined criteria you established, do not enter a trade. 

Take A Break

If you’re on a bad streak, consider taking a break from trading activities to re-centre. This practice is used by risk managers on trading floors and is referred to as cut-offs. If a trader is experiencing a poor performance streak they will be moved to a demo trading model until they start to perform better, this also might include taking a break completely. 

Self Reflect On Behavioural Shortcomings

Dig deep to find what reactions you make when faced with emotions such as greed or fear. Attempt to learn as much as possible about your behavioural patterns when trading so that once triggered you can learn to recognise these patterns so as not to fall victim to your own emotional responses. 

Balance

Don’t underestimate the power of balance as it plays an imperative role when it comes to clear judgement, reason and logic. When it comes to being a strong athlete, it’s imperative that the athlete needs to be in a good mental space too. The same runs true for being a strong trader, mental (and even physical) strength plays a strong role in overall balance and your ability to function optimally. These positive changes reverberate across all aspects of your life and can certainly have an effect on your trading endeavours.

Master Emotional Management In Trading

Ultimately the most disciplined version of yourself will yield the best results when it comes to trading. Consider improving on all aspects of your life and then implement several strategies listed above and you should be well on your way to an incredibly successful trading path. 
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To learn more about this topic, consider reading “Trading in the Zone” by Mark Douglas and “The Psychology of Trading” by Brett N. Steenbarger.

Let's talk about cryptocurrency payments in plain and simple English: think of crypto as digital money that works over the internet. With more than 420 million people already using it worldwide, and big companies like Microsoft and Starbucks now accepting it as payment - crypto has officially landed in the mainstream. 

Why people love using crypto for payments

It's cheaper to use

Remember the last time you sent money abroad? Those fees probably weren't fun. Crypto usually costs much less to send, whether you're paying someone across the street or across the world.

It's super fast

With regular bank transfers, you might wait days for your money to arrive. With crypto, payments usually go through in minutes. It's like sending an email instead of waiting for a letter in the mail.

It's really safe

Crypto uses a special technology called blockchain that makes it very hard for anyone to cheat or steal. Think of it like a digital safe that keeps getting stronger every time someone uses it.

It works everywhere

Crypto doesn't care about country borders. You can pay anyone, anywhere, anytime. No need to worry about different currencies or bank holidays.

The numbers that matter

More businesses are jumping on board every day. In 2021, people used crypto for over $754 million worth of payments, with this number growing by roughly 17% each year. As more businesses incorporate crypto into their payment systems, they have found more customers making larger checkouts. 

How to pay with crypto (it's easier than you think)

1. Pick crypto at checkout: Just like choosing credit card or PayPal
2. Scan or copy: Use your phone to scan a QR code or copy a payment address
3. Send your payment: Click to send from your digital wallet
4. Wait a minute: Your payment gets confirmed quickly
5. You're done: The store gets their payment, and you get your stuff

Advantages of using crypto

For shoppers:

• Your personal information stays private
• No one can steal your card details
• Payments go through quickly
• Works the same way everywhere in the world

For businesses:

• Get paid faster
• Spend less money on processing fees
• Reach customers everywhere
• No worries about fake payments

Is it hard to start using crypto?

Not at all! If you can use a smartphone app, you can use crypto. Here's what you need:

1. Get a digital wallet (it's like having a banking app)
2. Buy some crypto, Bitcoin is often a good place to start
3. Start paying at places that accept it

Looking to the future

More and more stores and websites are starting to accept crypto every day. It's becoming as normal as using a credit card or mobile payment. Sure, it's new and different, but so was paying with a card instead of cash when that first started. 

Simple tips for using crypto

• Start small until you're comfortable
• Double-check addresses before sending
• Keep your wallet information safe
• Use well-known services and stores

Why this matters

Whether you're a shopper who wants more ways to pay or a business owner looking to reach more customers, crypto payments are worth checking out. They're:

• Fast
• Safe
• Work everywhere
• Usually cheaper than regular payment methods

The bottom line

Cryptocurrency isn't just for tech experts anymore. It's becoming a normal way to pay for things, just like credit cards and digital wallets. While it might seem new and different at first, it's actually pretty simple to use once you try it.

Remember: You don't need to understand all the complex technology behind crypto to use it, just like you don't need to know how a credit card machine works to swipe your card at the store.

Ready to try?

If you're curious about using crypto for payments, start small. Simply download the Tap app from your Tap store (we encourage you to read the reviews and information before engaging in any crypto app - we’re confident you’ll still choose Tap) and create an account. 

You will then need to complete a quick identity verification step (NB no matter which crypto platform you might go with) and once you’re verified you can buy any cryptocurrency you like. If you’re looking to pay with crypto, it is worth noting that Bitcoin is the most widely accepted. 

Then try buying something inexpensive from a well-known store that accepts crypto using the steps above. The process should be as smooth as if you were using your digital card. If you run into any difficulties, we have 24/7 customer support in the app that will gladly help you through. 

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