How To Buy Tap (XTP)?

A common question you often see on social media from crypto beginners is “Where can I buy Tap?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. 

Step 1: Create an account on an exchange that supports Tap (XTP)

First, you will need to open an account on a cryptocurrency exchange that supports Tap (XTP).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Tap (XTP) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Tap (XTP)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Tap (XTP) or Tap (XTP) trading pairs. Look for the section that will allow you to buy Tap (XTP), and enter the amount of the cryptocurrency that you want to spend for Tap (XTP) or the amount of fiat currency that you want to spend towards buying Tap (XTP). The exchange will then calculate the equivalent amount of Tap (XTP) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Tap (XTP) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

XTP is the native token of the Tap Global platform, an ERC-20 standard token created on the Ethereum blockchain. Issued by Tap n Go Ltd Gibraltar, XTP has a maximum total supply of 10 billion tokens and is divisible up to 8 decimal places. The Tap token serves two primary functions within the platform:

The Tap platform allows users to pay transaction and exchange fees using either cryptocurrencies or the XTP token. By choosing to pay fees with XTP, users can enjoy a 25% discount. As a supported cryptocurrency on the app, XTP can be stored in the dedicated wallet under Crypto assets.

Users can stake their XTP tokens to access higher card levels and improved user terms. While the Tap card is available to all users, the Tap Black account requires a 100,000 Tap token stake for six months, and the Tap Titanium account requires a 500,000 Tap token stake for the same period. Staking these amounts grants users various benefits, including reduced exchange fees, increased ATM withdrawal limits, and free fiat forex exchanges.

Additionally, the Tap platform conducts monthly token burns to reduce the total XTP supply and increase its value. Similar to Binance’s BNB burning process, Tap uses 10% of its monthly profits to burn Tap tokens.

In summary, the XTP token is an integral component of the Tap Global platform, providing users with the opportunity to reduce transaction fees and unlock enhanced benefits by staking tokens. By integrating the XTP token, Tap further cements its position as a revolutionary multi-asset platform bridging the worlds of cryptocurrency and fiat currencies.

Tap development updates in 2023

In 2023, Tap (XTP) has seen significant developments, particularly with its expansion into the U.S. market and the launch of new features:

• U.S. Market Expansion: Tap announced a partnership with Zero Hash, a crypto infrastructure platform, to facilitate its launch in the U.S. This expansion is significant because the U.S. accounts for a large portion of the global cryptocurrency market. The partnership with Zero Hash will enable Tap to offer a sophisticated and flexible crypto on-and-off-ramp experience to its U.S. customers, including access to 24 digital assets like BTC, ETH, XRP, and USDC​​​​.

• Fiat-to-Crypto On-and-Off-Ramp: As part of its U.S. market entry, Tap plans to introduce a fiat-to-crypto on-and-off-ramp later in 2023. This feature will allow customers to buy and sell crypto via ACH bank transfers, significantly enhancing the accessibility and convenience of using the Tap platform​​.

• Tap Cards and Rewards Program: Tap aims to offer Tap cards, which can be used in stores, ATMs, or for online shopping without an annual fee or delivery charges. The platform also allows users to enjoy free transfers between Tap account holders and offers an interest program where users can earn up to 8 percent weekly on trading. Moreover, users can earn rewards like Bitcoin for referring friends who complete registration​​.

• Utility of XTP Token: XTP, the utility token on the Tap project, operates on ERC-20 token standards. Users can utilize XTP to pay for transaction/exchange fees within the project and receive discounts. Additionally, staking XTP allows users to earn higher card levels for better user terms​​.

• Token Supply Management: The project has implemented a mechanism where 10 percent of the profit tokens are removed from the circulating supply each month, permanently reducing the total supply. This approach is designed to manage the token’s value over time​​.

These developments indicate Tap’s continued growth and innovation in the cryptocurrency space, particularly in bridging traditional finance with blockchain technology. The U.S. expansion and new features mark significant milestones for Tap, reflecting its commitment to increasing accessibility and utility for its users.

Official website: https://www.tap.global/gb-en

Best cryptocurrency wallet for Tap (XTP)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Tap (XTP)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).