Learning the friendly way

Tap experienced a significant growth in our user base during Q1 2023. While this was a cause for celebration, it also attracted the unwanted attention of fraudsters. Lured by our platform's quick onboarding and seamless fiat and crypto transactions, these fraudsters exploited remote access tools like Teamviewer and Anydesk to abuse vulnerable individuals . In response, we felt compelled to implement a robust and necessary Anti-Scam Protection Feature.

This feature, while stringent and non-negotiable, is not designed to control our users' app preferences. Instead, it is a forceful, yet crucial measure to ensure their safety and protect the integrity of our platform.

Regulatory Responsibility: As a regulated financial entity, we're duty-bound to shield our users from potential threats and foster safe digital practices. Our Anti-Scam Protection Feature stands as testament to this commitment. It doesn't merely warn users about potentially risky apps; it mandates their removal to ensure the secure use of our services.

Proactive Measures: Scams utilizing remote access tools can be highly sophisticated and often slip past even the most vigilant defenses. Our feature is a stringent proactive measure, akin to a car's seatbelt, designed to preemptively avert such situations.

User Autonomy: At Tap, we deeply value our users' autonomy and their ability to manage their digital safety. However, we also acknowledge that scammers' tactics can be complex and deceptive. The Anti-Scam Protection Feature is our firm stand against such threats, ensuring all users can safely navigate the digital banking landscape.

At Tap, we go beyond secure transactions. Our vision is to create a 'super app' that caters to everyone's needs. We prioritize the protection and well-being of all our customers, including our beloved pops and nans. Understanding the older generation's vulnerability to scams, we are committed to making digital banking accessible and safe for people of all ages. This feature is a significant step towards that vision.

Now, it's crucial to understand an often-overlooked concept outside the payments industry – the "fraud threshold." This measure ensures that financial platforms don't profit from fraudulent transactions. While a high fraud rate may inflate revenues temporarily, it risks losing critical payment services like GBP - Faster Payments and Euro SEPA transfers over time.

Weighing the pros and cons of our Anti-Scam Protection Feature provides a clearer perspective:

CONS:

• Potential displeasure amongst users of apps like Teamviewer, Anydesk, and others.
• Possible loss of a few users.
  

PROS:

• Protection of user life savings.
• Deterrence of scammers.
• Preservation of crucial payment relationships.
• Ensuring availability of payment rails for all our users.
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The Anti-Scam Protection Feature is an assertive measure, and we understand it may cause some inconvenience. But it's an essential step in our commitment to providing a safe, secure, and accessible digital banking environment for everyone.

Crypto ATMs have been around since 2013 and while their initial integration was slow, just 7 years later there are over 30,500 Bitcoin ATMs around the world. Providing a convenient means of buying and selling the world’s biggest digital currency, here we explore how crypto ATMs can propel crypto adoption.  

Cryptocurrencies have come a long way since the advent of Bitcoin in 2009, and with each passing year more firmly establish themselves in the traditional financial landscape. Bitcoin ATMs are here to support this drive and further establish the digital currency in everyday lives, around the world. And not just Bitcoin ATMs, there are also a number of other cryptocurrencies supported which we’ll cover in more detail below.

History of Bitcoin ATMs

The first Bitcoin ATM launched in October 2013 in a coffee shop in Vancouver, Canada. The coffee shop was one of roughly 20 in the area that accepted the digital currency at the time. Created by an American company Robocoin (which later closed in 2015) and a Vancouver-based company called Bitcoiniacs, the ATM used palm scans to authenticate users and allow for a maximum trade of $3,000 worth of Bitcoin a day.  

A month and a half later, another Bitcoin was installed in Bratislava, Slovakia, becoming Europe’s first Bitcoin ATM. A few months after that, Bitcoin ATMs started popping up in the United States, and adoption steadily increased. By 2015, there were a total of 329 crypto ATMs around the world, 500 in 2016, which doubled to 1,000 by 2017.  

The number of crypto ATMs continued to double each year, reaching a total of 6,400 in early 2020. At the start of 2021, there were just under 14,000 of these machines around the world, increasing quickly to over 30,000 by the end of the year. It’s safe to conclude that the power of crypto ATMs has been recognised, and continues to grow as adoption heads in the same direction.  

Crypto ATMs vs traditional ATMs

The most significant differences between the two are that the traditional ATMs are operated by a bank while crypto ATMs are connected to the relevant blockchain via the operator, these two can both accept and dispense cash.  

From a regulatory standpoint, crypto ATMs need to follow the AML/KYC (anti-money laundering and know your customer) regulations outlined by the jurisdiction they are operating in. This will also affect the limits of both deposits and withdrawals allowed by the machine, and in some regions, the ATM will also require a money transmitter licence.  

The downside to crypto ATMs is the fees. Fees can range from 7% - 25% depending on the operator, the location and the trade. While they allow for quick and easy purchase or sale of various cryptocurrencies with fewer KYC verifications necessary than on a traditional exchange, this does come at a price. However, the crypto ATMs also allow users to tap into the relevant network who might not otherwise have access to an online exchange or bank account.  

Of the over 30,500 crypto ATMs around the world, the following cryptocurrencies are currently supported:

• Bitcoin (BTC)
• Lightning BTC (LBTC)
• Bitcoin Cash (BCH)
• Ethereum (ETH)
• Dash (DASH)
• Litecoin (LTC)
• Zcash (ZEC)
• Monero (XMR)
• Dogecoin (DOGE)
• Tether (USDT)
• Ripple (XRP)
  

How crypto ATMs are fueling adoption

These decentralized crypto ATMs have seen a huge growth in popularity over the last 5 years, allowing users to easily exchange one fiat currency for a digital one. Providing an easy means of transaction in over 75 countries, crypto ATMs are facilitating a seamless means in which to travel - instead of exchanging one fiat for another, simply withdrawal the fiat at a crypto ATM on arrival.

While crypto ATMs and adoption go hand in hand, it might lend closer to a chicken/egg conversation (which came first) as both operations are fueled by the other. With more crypto ATMs, more people can gain access to the peer-to-peer based payment system thus increasing adoption, while growing adoption creates more of a demand for crypto ATMs.  

In the coming years, we will more than likely see the continued growth of crypto ATMs around the world, alongside a similar growth in crypto adoption as the digital currencies become more integrated into the financial sector and our daily lives.

Onyxcoin (XCN), tidigare känt som Chain (CHN), representerar ett stort steg framåt inom blockchaininfrastruktur. Sedan omprofileringen i mars 2022 har projektet blivit ett ledande alternativ för företag som vill bygga finansiella tjänster på privata blockchain-nätverk. Men vad är det som gör XCN så intressant? Låt oss dyka in.

Vad är XCN?

XCN är kryptovalutan bakom Onyx Protocol – ett flexibelt blockchainnätverk som är utvecklat för att förbättra finansiella avvecklingar. Det används både som nyckel för att få tillgång till tjänster och som styrningsverktyg inom det decentraliserade ekosystemet.

Onyx Protocol möjliggör att separata nätverk kommunicerar smidigt genom gemensamma standarder. Det är både säkert och flexibelt tack vare ett system där tillgångskontroll separeras från registersynkronisering. Nätverket förlitar sig på ett utvalt antal ”block signers” för att säkerställa integritet och en enda ”block generator” för effektiv blockskapande.

Allt detta styrs via Onyx DAO på Ethereum, där XCN används för styrning, premiumtjänster och uppgraderingar av nätverket.

Projektet startades 2014 och har stöttats av investerare som Nasdaq och Citigroup. Det har sedan dess utvecklats till en avancerad och självständig blockchainlösning.

Viktiga egenskaper:

• Molnbaserad blockchain-infrastruktur för företag
• Anpassningsbara verktyg för tillgångsskapande
• Smart contracts via "control programs"
• DAO-styrning för användarinflytande
• Tjänstnivåer: standard och premium

Marknadsanalys: Tekniskt och fundamentalt

Tokenomics

Det finns totalt 48,47 miljarder XCN, varav cirka 65 % redan är i cirkulation. Av detta är 15 miljarder reserverade för stiftelsen och 10 miljarder för DAO:n, med en månadsvis tilldelning om 200 miljoner XCN för att hålla utbudet under kontroll.

Teknisk arkitektur

• Parallella blockchain-nätverk
• Strikt åtkomstkontroll för tillgångar
• Validering via betrodda noder
• Effektiv blockproduktion

Volym, volatilitet och marknadssentiment

Handelsvolym

XCN:s handelsvolymer kan säga mycket om marknadsintresset. Höga eller stabila volymer tyder ofta på stark aktivitet, medan hastiga upp- eller nedgångar kan spegla spekulation eller nyheter.

Prisvolatilitet

XCN:s pris har växlat mellan stabilitet och snabba rörelser. Volatilitet lockar vissa investerare men kan avskräcka andra. Rörelserna påverkas ofta av makroekonomiska faktorer och branschens övergripande humör.

Sentiment

Via sociala medier, forum och nyhetsrapportering kan man få en bild av marknadens attityd. Positiva nyheter om projektets utveckling har genererat optimistiskt sentiment, medan osäkerhet kan trycka ner stämningen.

Korttidsprognoser (1–3 år)

Möjligt positivt scenario

Drivkrafter:

• Företagsanpassning (partnerskap, adoption)
• Teknologiska förbättringar (transaktionstider, avgifter)
• Ökat institutionellt intresse

Prognos: $0.005 – $0.015 beroende på utveckling och marknadens respons

Möjligt negativt scenario

Risker:

• Regulatorisk osäkerhet
• Konkurrens från liknande projekt

Prognos: $0.001 – $0.0017

Långsiktsprognoser (3–5 år)

Möjligt positivt scenario

Drivkrafter:

• Utbredd användning av Onyx-teknik
• Ekosystemets tillväxt
• Kryptomarknadens generella expansion

Prognos: $0.02 – $0.08 beroende på tillväxt och innovation

Möjligt negativt scenario

Risker:

• Lång nedgång i kryptomarknaden
• Överlägsen konkurrens

Prognos: $0.0005 – $0.0015

Slutsats

Onyxcoin (XCN) har potential att växa genom ökad användning och teknisk utveckling, men står också inför utmaningar som kan påverka dess framtid. Prognoserna varierar kraftigt beroende på marknadens riktning, teknologins framsteg och investerarnas förtroende.

Som alltid när det gäller digitala tillgångar, är det klokt att läsa på ordentligt, följa utvecklingen nära och reflektera över sin egen risktolerans. Håll koll på XCN direkt i Tap-appen för senaste uppdateringar och prisrörelser.

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No matter your travel budget, navigating ATM fees is worth your time when travelling around Europe. In this article, we’re giving you a run-through of the common charges you may face, from withdrawal and balance inquiry fees to currency conversion costs, and how to easily navigate them. 

Why do ATMs charge fees?

Wondering why ATMs charge those pesky fees? The truth is, there's a cost involved for the banks behind those convenient cash machines. They have to stock the cash, maintain the equipment, and liaise with your home bank to reconcile the transactions. Those ATM fees you see? That's how banks recoup those operational expenses, with a little profit margin added in for good measure.

Common ATM fees in Europe

When using ATMs in Europe, you'll likely encounter several common fees that can mount up fast. While less common in the UK, in countries like Germany, ATM fees can quickly add up to €4. Let’s take a look at what kinds of fees one might encounter. 

Bear in mind that the amount you'll have to pay at a European ATM depends on two main factors:

• Your home bank's fees: they may charge a withdrawal fee, typically a few euros to several dollars, every time you use an ATM abroad.
• The ATM's own fees: the bank that owns the ATM you're using may also levy its own withdrawal fee, on top of what your home bank charges.

These charges will vary depending on your bank, so be sure to check before leaving. While most banks list their ATM use charges in their terms, with some offering limited free withdrawals, others charge a flat fee per transaction, especially for out-of-network or international ATM use, so be mindful of potential fees when accessing your money abroad.

In addition to withdrawal fees, you may also encounter balance inquiry fees just for checking your account balance, as well as conversion or foreign transaction fees when using a card issued outside of the Eurozone.

Factors affecting ATM fees

The fees you'll encounter at European ATMs can vary quite a bit depending on several key factors. First, the location of the ATM makes a big difference - if it's part of your home bank's network, you'll likely pay lower (or even no) withdrawal fees. But use an out-of-network machine, and those charges can start to add up quickly.

The type of card you're using also plays a role. Debit cards generally incur fewer fees than credit cards when used for ATM withdrawals. And your home bank's specific policies on international ATM use can further impact the costs you face.

Keeping these variables in mind as you access cash abroad will help you sidestep unnecessary fees and make your travel budget stretch further.

Tips for minimising ATM fees in Europe

When navigating the ATM landscape in Europe, there are a few savvy strategies you can employ to steer clear of those ATM fees:

• Seek out a bank account that offers fee-free withdrawals - some digital-only banks provide a certain number of complimentary ATM transactions each month.
• Stick to ATMs owned and operated by banks, rather than independent machines often found in convenience stores, as those are more likely to come with added charges.
• Be strategic with your cash withdrawals - if your account allows for free branch ATM use, plan ahead and make larger, less frequent withdrawals to minimise fees. Conversely, if you have a limited number of free monthly transactions, opt for larger sums to get more mileage from those.
• Finally, minimise cash usage altogether by relying on your debit card for payments wherever possible, reserving cash for small, cash-only establishments like markets.

By employing these tactics, you can keep more of your hard-earned money in your pocket while exploring Europe.

The Tap Solution

Tap provides users within the European zone with a free prepaid crypto and fiat card that can be used anywhere in the world. Powered by Mastercard, the card links directly to the funds in the holder’s Tap app, allowing them to easily manage their money and constantly be in the know. 

With all options providing free card deposits and free in store purchases, the premium options offer impressive fees when it comes to exchanging and trading funds. When it comes to monthly ATM withdrawals, the Essential account allows free withdrawals up to €500, higher tiers offer up to €1,000, while the Prestige level provides unlimited free withdrawals before incurring charges.

Get more information about the available options when it comes to your Tap card here. 

Conclusion

In summary, being aware of European ATM fees - including withdrawal charges, balance inquiries, and currency conversion costs - is key to managing your travel budget. Research your bank's policies, locate in-network ATMs, and strategise cash withdrawals before your trip. With some smart planning, you can sidestep unnecessary fees and make the most of your time exploring Europe.

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Let's be honest, entering the world of crypto can feel like trying to surf a tsunami while blindfolded. Especially during a bull market, when excitement is running high and everyone seems to be making money, it's easy to get swept up in the madness. We’ve all be there. But here's the deal: smart surfing is about strategy, not just catching the biggest wave.

What you need to know about bull markets

A bull market is crypto's version of spring - everything's blooming, prices are rising, and optimism is in the air. But just like spring can bring unexpected storms, the crypto market has its own unpredictable weather.

Do your homework (just do it)

Forget following random influencers promising overnight riches. The crypto world moves fast, and information is your best life jacket. Here's what to focus on:

• Research is your superpower: Dive deep into projects. What problem are they solving? Who's behind the team? What makes them unique?
• Understand the narratives: The crypto market loves stories. Right now, everyone's talking about AI tokens, decentralised infrastructure, and meme coins. Know what's trending, but don't just jump in blindly.

Build your crypto survival kit

Think of your crypto journey like preparing for an adventure:

1. Diversification is your friendsome text
   • Don't put all your eggs in one digital basket
   • Mix different types of cryptocurrencies
   • Consider a blend of established coins and promising new projects
2. Emotional discipline is your mentorsome text
   • FOMO (Fear Of Missing Out) is the crypto trader's worst enemy
   • Set clear goals and stick to them
   • Have a plan for both buying and selling

Spot the red flags and warning signs

Spotting the red flags

• Promises of guaranteed returns? 🚩 Red flag
• Projects with zero transparency? 🚩 Run away
• Everyone's talking about a coin, and you feel pressured? Take a breath

Risk management implementation

• Only invest what you can afford to lose
• Consider using strategies like Dollar Cost Averaging (buying small amounts regularly)
• Set up stop-loss mechanisms to protect your investment

The learning never stops

There’s nothing wrong with a long-term hodl plan. But if you’re looking to shake things up: stay curious, stay learning:

• Follow reputable crypto news sources
• Join community discussions
• Watch educational content from experienced traders

Always look beyond the hype

Look beyond price. Understanding blockchain technology, market trends, and the real-world applications of cryptocurrencies will make you a smarter investor.

Mindset matters

Remember, this isn't a get-rich-quick scheme. It's a journey of learning, strategy, and calculated risks. Some days you'll feel like a crypto wizard, other days like you're playing financial Jenga.

Pro tips from the crypto trenches

• Keep emotions in check
• Don't chase every shiny new token
• Learn from both your wins and losses
• Stay humble and curious

The bottom line

Crypto trading during a bull market is thrilling, but it's not a lottery. It's about informed decisions, continuous learning, and maintaining a level head.

Disclaimer: This guide is for educational purposes only. The crypto market is volatile, and past performance doesn't guarantee future results. Always do your own research and consider consulting with a qualified financial advisor before making investment decisions.

Stay smart, stay safe, and enjoy the ride! 

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The holiday season, with all its glitter, cheer and tradition, can sometimes feel like a whirlwind of emotions and expenses. Between those persuasive commercials and the relentless social media ads and influencers, it can feel like an added pressure on your finances that you just don’t have the energy to fight off at the end of the year.

But fret not, taming holiday spending isn't as tricky as wrapping a bowling ball, even if your loved ones are living it up in the holiday splurge zone while you're in the "I'm on a budget" Santa hat.

We’re here to help you sleigh the festive season without sending your bank account into winter hibernation. Here are five realistic financial boundaries to implement with friends and family this festive season. 

Create a budget

Who could have predicted this? Well, it's not exactly breaking news, but a well-crafted budget is your trusty reindeer reins. And no, it's not here to rain on your festive parade, it's the voice of reason when things get a little too merry.

Planning a holiday budget may not sound like a barrel of laughs, but trust us, it's the key to unlocking financial serenity this season. Here's your step-by-step guide to make it a tad more enjoyable:

Step one: Snuggle up with your favourite holiday treat and get comfy. Plot out your budget, factoring in gifts, decorations, travel, and entertainment.

Step two: Be brutally honest with yourself about your spending limits and keep expectations in check. Keep it realistic, and don’t ignore your January Voice of Reason.

Step three: Now, manage and follow your budget as if your life depended on it. It's your financial GPS, steering you away from the treacherous cliffs of overspending. Be in the business of staying disciplined, and both your wallet and future self will be singing your praises.

Be picky with your social calendar

Finding the right balance during the holiday season can be a bit tricky, especially if you're the life of the party who never turns down a chance to celebrate. While holiday gatherings are undeniably fun, they can also put a strain on your wallet, what with buying gifts or splurging on new outfits for every Friendsgiving or seasonal bash on your invite list.

So, what's the secret sauce? Simple, really: set a cap on how many events you'll attend, and fill your calendar with wallet-friendly or no-cost activities. 

Think about hosting a cosy Christmas cocktail night at home instead of hitting up pricy holiday pop-up bars, enjoying potluck dinners at friends instead of eating out, or even just swapping holiday-themed books with your pals. These options let you savour the holiday spirit without breaking the bank.

Propose a gift swap instead of playing Santa to all

The fastest way to empty your pockets during the festive season? Showering gifts on everyone you adore. It's undeniably heartwarming, as the holidays are all about giving, but if your mission is to rescue your finances, it's crucial to stick to that budget.

Here's the savvy play: suggest a group gift exchange like Secret Santa or White Elephant, where each person is responsible for a single present. This gem of an idea works wonders, especially if you're accustomed to playing Santa for your entire office or friend gang, at the cost of any good times in January.

Now, we get it. Your love language might be gift-giving and holding back your desire to gift everyone can be challenging. However, it'll save you a ton of money in the long run. Bonus? You might discover that you can give a more heartfelt gift when you're not fretting over multiple purchases or chasing down the perfect presents for everyone. Happier you, happier everyone.

Embrace the cash or debit approach

Taming the holiday spending frenzy calls for some clever tactics. Swap that tempting credit card for cash or a trusty debit card when you head off on your festive shopping adventures. With this approach, you'll stick to spending only what's safely nestled in your bank account.

It's like Santa himself keeping a watchful eye on your wallet, ensuring you don't venture into the land of overspending. When you physically see those bills leave your hand or the numbers dip in your account, it becomes a tangible reminder to stay within your budget. 

So, this holiday season, let your cash or debit card be your financial guardian and keep the festivities merry without the budget hangover.

Master the art of responsible online shopping

Last but not least, yes, online shopping is still spending. The allure of online deals and discounts can be irresistible, leading to overspending in the blink of an eye. To conquer this digital shopping realm, establish a strict limit on your online purchases and banish impulsive buying tendencies.

But there's more: declutter your inbox by unsubscribing from those tempting promotional emails. It's like building a fortress around your financial willpower. With fewer temptations, you're less likely to get lured into spontaneous shopping sprees.

Final thoughts

Navigating the holiday whirlwind without emptying your pockets is doable. Craft a budget, stick to it, and then lean into the festivities around you. Sticking to these boundaries will not only protect your mental health but also ensure a festive season filled with cheer, not financial stress. Because, after all, aren’t Aunt Linda’s questions about what you’re doing with your life stressful enough?

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