XTP

Overview of Tap (XTP)

Tap (XTP) is a project aiming to simplify managing both crypto and traditional currencies. Launched by Tap Global, it offers an all-in-one app for users to trade, store, send and receive crypto and fiat currencies. XTP, the project's ERC-20 token, fuels the Tap ecosystem. While not as prominent as DeFi or NFTs, Tap focuses on financial management, offering features like interest programs and referral rewards.

Pros and Cons

Tap (XTP) app

The Tap (XTP) app goes beyond just a crypto wallet. It aspires to be a one-stop shop for your finances, combining traditional and digital finance. You can manage multiple currencies, send and receive money internationally, and even pay bills directly within the app.

For travelers, the Tap app integrates a Mastercard that allows you to spend your crypto holdings like cash and withdraw money from ATMs. This focus on real-world usability through debit cards is a key differentiator from many cryptocurrencies.

What Makes Tap (XTP) Unique？

Tap (XTP) focuses on innovation in financial inclusion. Unlike many cryptocurrencies targeting specific niches within the crypto world, Tap (XTP) aims to bridge the gap between traditional finance and crypto by offering a “money super-app”. This app allows users, particularly those unbanked or underserved by traditional finance, to manage their money, invest, and potentially earn interest on their holdings, all within a single platform.

How Does Tap (XTP) Work？

Tap (XTP) functions as a two-pronged system: a mobile app and its native cryptocurrency, XTP. The user-friendly app acts as a one-stop shop for crypto and fiat management. Users can buy, sell, and trade various cryptocurrencies alongside fiat currencies.

More importantly, the Tap app integrates a prepaid Mastercard that converts crypto holdings to fiat for everyday purchases and ATM withdrawals. This focus on real-world usability through the Tap card sets it apart from many cryptocurrencies geared solely towards investment or digital transactions.

Exchanges to Buy Tap (XTP)

While there aren't currently more than 4 exchanges that support buying Tap (XTP), here's a breakdown of the major ones you'll find:

1.Bitfinex: The most popular exchange for XTP by trading volume. It offers trading pairs for XTP with both USD (US Dollar) and USDT (Tether), a stablecoin pegged to the US dollar.

See this link for details on how to buy Tap (XTP): https://www.kucoin.com/how-to-buy/tap

There are several ways to buy Tap (XTP). Here are some of the most popular options you can choose from: Centralized Exchanges (CEXs), Crypto Wallets, and Decentralized Exchanges (DEXs).

Centralized Exchanges (CEXs) are the simplest and most common way to buy Tap (XTP). Here's how you can buy Tap (XTP) via a centralized exchange:

Choose a reliable CEX that supports Tap (XTP) purchases. Consider factors like ease of use, fee structure, and supported payment methods.

Create an account and enable 2FA for security purposes. Then, verify your identity to gain access to more features.

Add a payment method, such as a credit/debit card or bank account.

You can then buy Tap (XTP) using fiat currency or crypto-to-crypto exchange.

Crypto Wallets allow you to buy and store Tap (XTP). Here's how to buy Tap (XTP) via a crypto wallet:

Select a reputable crypto wallet that supports Tap (XTP). Download and install the wallet app.

Create a new wallet address or import an existing one.

You can then buy Tap (XTP) using a supported payment method, though fees may be higher than those charged by exchanges. Alternatively, you can swap a different cryptocurrency for Tap (XTP).

Decentralized Exchanges (DEXs) allow you to buy Tap (XTP) directly from sellers without a middleman. Here's how to buy Tap (XTP) on a DEX:

Choose a DEX that supports Tap (XTP) and connect your wallet to the DEX. Ensure your wallet is compatible with the network.

Buy base currency to swap for Tap (XTP), as DEXs currently only support crypto-to-crypto exchanges. You can purchase base currency from a centralized exchange.

Send the base currency to your wallet and then swap it for Tap (XTP). Be sure to have enough blockchain native tokens to pay for transaction fees.

2. ProBit Global: Another option for buying XTP. Here, you can find a trading pair for XTP with USDT.

3. Uniswap (v2): A popular DEX where you can swap XTP for WETH (Wrapped Ether), a tokenized version of Ethereum on the Uniswap platform.

4. KuCoin (While not currently supporting XTP purchases directly, keep an eye out for potential future listings): A popular exchange known for a wide variety of cryptocurrencies. May offer XTP trading pairs like XTP/USDT or XTP/BTC (Tap against Bitcoin) in the future.

How to Store Tap (XTP)？

There are two main types of wallets you can use to store Tap (XTP):

Hot wallets: These offer convenience and easy access but come with slightly lower security as they are connected to the internet. Here are some popular hot wallet options for XTP:

Trust Wallet: A mobile wallet known for its user-friendliness and support for various cryptocurrencies.

MetaMask: Another popular mobile wallet option that integrates with many decentralized applications (dApps).

Atomic Wallet: A multi-currency wallet that allows you to buy, exchange, and store cryptocurrencies, including XTP. It even offers the benefit of earning cashback on crypto purchases.

Exchange wallets: Certain crypto exchanges that support XTP may offer integrated wallets for storing your holdings. This can be convenient, but remember that you don't necessarily have full control over your private keys with exchange wallets.

Cold wallets: These prioritize security by storing your crypto offline, making them a good option for larger amounts of XTP.

A popular cold wallet choice for XTP is the Ledger Nano S. This hardware wallet stores your private keys on a physical device, significantly reducing the risk of hacking.

Is It Safe？

The safety of Tap (XTP) depends on several factors:

Inherent volatility of cryptocurrency: The cryptocurrency market is inherently volatile, meaning prices can fluctuate significantly. This means that the value of your XTP holdings could go up or down drastically.

Security of the Tap (XTP) platform: While Tap claims to be a secure platform, any digital platform is susceptible to hacking attempts. It's important to be mindful of potential security breaches and follow best practices like strong passwords and two-factor authentication (2FA).

Security of your chosen wallet: The type of wallet you use to store your XTP plays a major role in its safety. Hot wallets, while convenient, are generally considered less secure than cold wallets due to their internet connection. Cold wallets offer superior security but can be less convenient for frequent trading.

How to Earn Tap (XTP)？

Here's an analysis of ways to earn Tap (XTP) and some objective advice for those considering buying, based on analysis of the information available and current trends in crypto space

Earning Tap (XTP):

Staking (Indirect): While Tap itself doesn't currently offer native staking, platforms like DappRadar allow staking other cryptos to earn rewards that can be converted to XTP. This can be a decent option for earning passive income, but it involves additional complexity and potential risks associated with DeFi platforms.

Tap Premium Plans: Upgrading to a premium plan on the Tap app offers benefits like fee reductions and increased spending power. However, cost-effectiveness depends on how heavily you'll utilize these features.

Before You Buy Tap (XTP):

Consider your goals: Are you looking for short-term trade or a long-term investment？ XTP's focus on financial inclusion might appeal for long-term adoption, but its current price and limited trading options suggest higher volatility compared to established cryptocurrencies.

Research the Tap ecosystem: Understand the app's functionalities and target audience. Does it align with your needs and vision for the future of finance？

Look beyond the Tap app: The success of XTP hinges on the broader adoption of the Tap app and its services. Research the team behind Tap, their roadmap, and any partnerships they're forging.

Beware of Airdrop claims: There's no confirmation of a recent Tap airdrop. Be cautious of scams that might use airdrop promotions to lure you in.