At the moment when I try and explain cryptocurrency to friends, family and colleagues they all seem dumbfounded at first with the overload of information I give them. I really believe in blockchain technology and cryptocurrency sometimes this strong belief means I can get carried away with my explanations. I forget that people might not be able to understand how decentralization works and how this would benefit everyone in society through its transparency and efficiency. Another aspect that confuses them is how to get involved in cryptocurrency.
Starting out in cryptocurrency is a difficult task, there are so many different options and there are so many different opinions on how a beginner should begin their journey. I tend to use Coinbase as the best example of how to enter the crypto markets, currently, it is the most recognized company in the industry and it is the most popular way of buying and selling crypto through fiat.
We need a change there are a lot of problems with the Coinbase model and due to the lack of competition, they operate a monopoly on the fiat-to-crypto market. Problems include a lack of communication, and due to the sheer size of their business, there are many regulation and compliance problems. If you visit Coinbase's twitter page you will see that many of their tweets are met with complaints or negative feedback due to their lack of focus on user experience.
The cryptocurrency community need more options and I believe that TAP can offer a different solution that will solve a lot of problems for investors and traders.
TAP's idea includes two main features, the TAP card and the TAP app. The TAP card will allow users to easily convert cryptocurrency to fiat to fund purchases on everyday items and services. Users will be able to convert popular cryptocurrencies like Ethereum, Bitcoin and Litecoin directly to USD, GBP and EUR. For example, if you needed to pay to get your train for your daily commute but were low on fiat and had some Ethereum in your online TAP wallet you could instantly convert your ETH to the fiat currency of your choice and cover the cost of your travel via chip & pin or contactless.
I know the term 'revolution' is thrown around quite a lot when talking about the subject of cryptocurrency and blockchain ICOs, but in this scenario, I really think we could be looking at the next big idea. There are other companies trying to implement the crypto credit/debit card that I mentioned in the paragraph above such as MonaCoin and Change, but they do not offer the same level of flexibility as TAP. You do not need to use TAP coin to convert to fiat, eventually, you will be able to use any coin supported by the platform to fund purchases which improves the selection currently available to cryptocurrency traders, investors and supporters.
The TAP card will be connected to the TAP app which is another feature the TAP team are working on, this app will be used by TAP traders to buy and sell cryptocurrency tokens on multiple exchanges using one account. TAP will have hot wallets on the most popular cryptocurrency exchanges (Binance, OKex, Huobi, etc.) which allows traders to use their TAP account to purchase cryptocurrencies at the best available prices without needing to set up multiple accounts and submit KYC for different registrations. You will only ever need to submit the documents required for KYC once, TAP will store this securely (along with your crypto assets) to make sure the system is easy to use for beginner and experienced traders.
To learn more about the TAP project, check out the following links: