This might ring some bells but here is my experience. When I began trading I used to have several tabs opened on different exchanges I am signed up with. I used to keep balances is some to make it easier to sell or buy when a decent price suffices. Be it all time low or sell when it is an all-time high. Of course, this method only worked or is valid for as long as you have the balance. Having to move the balances around was quite slow. By the time you move to a decent deal, it is likely you end up losing something just moving your funds around.

Fast forward Blockfolio launched its app and it became easier to track the prices in different exchanges. It was a real step forward. With Blockfolio I track my prices and just log in to the exchange I need however this did not solve the main problem. Speed and convenience of selling in different exchanges.

I looked around long and I even attempted to automate my trade by creating a trading bot; but that did not work well, it only worked when I moved my balance to the target exchange so the problem still remained.

I tried looking around for possible solutions but to my knowledge, none existed until one day I stumbled upon Tap. In Layamon terms tap connects to different exchanges and performs a sell or buy on the best rate on those exchanges and in 3 seconds. I will let that sink in for a second. Yep, you read it right.





Just like you, I wondered how is that achieved. The way Tap does it is, is through it holding enough liquid pools across different exchanges. When I say enough liquid pools I mean that it will hold fiat and tokens of different projects starting with the prominent ones. When you initiate a buy order for example Tap uses its balance to complete the order hence the 3-minute mark. Behind the scenes that balance is recovered from your account to Tap's in the given exchange.

Notice that I mentioned crypto and fiat? Tap supports both and for the fiat, it is starting with three major currencies and the conversion between them is free up to 1000 Euros. Which begets another feature Tap is offering and is the TAP card. The Tap card is what I like to call the prepaid ATM Card of the crypto world. It is planned to start in Europe with three levels, the first being the £1000 the second being £3000 and the third being the unlimited currency transfers.

You might wonder how does Tap makes its profits? they actually make it from different channels, one is crypto/fiat exchanges, another from crypto purchases. There is also the Crypto transactions which are charged 0.5–1.5% based on the popularity of the crypto pair. The fee can be paid in Tap tokens which will enable the user a 25% discount. Also, Tap makes returns from Fiat to Fiat exchanges if they exceed the set limit. If we are talking about the basic card level then anything above £1000 is charged a 0.5% fee. If the user decides to pay the fee in Tap token; s/he will be entitled to a 25% discount. One other revenue stream for Tap is from Vendors which are charged 0.2$ of the total transaction.

This is all great but would you feel safe keeping your assets with Tap? Well, that was the other question that I had to dig; Apparently and according to their whitepaper Tap stores all customer holdings in cold storage wallets along with the necessary encryption. Currently, Tap has successfully tested four exchanges the prominent being Kraken and Binance. The app is currently in the works and we should expect to see something in a months time or so.

As always this was my personal take on this project and if you find it interesting I will be adding links to resources below which will be handy in knowing more about the project.





Resources



Website: http://www.tap.global/

Telegram: http://t.me/tapngoofficial

Medium: https://medium.com/@tapngo.social

Reddit: https://www.reddit.com/r/TAP_Official/

Twitter: https://twitter.com/tapofficial1

