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.
Alternative ways to buy Tap (XTP)
Because the project is very new, it is only offered directly on a select number of exchanges. If you’re not comfortable connecting your bank account to any of these smaller exchanges, or if you cannot connect your bank account to them for geographical reasons. Then you can instead create an account on any of the major exchanges and simply transfer the funds from there.
Out of the major exchanges we recommend the following based on functionality, reputation, security, support and fees:
Fees (Maker/Taker) 0.075%*-0.1%*
Available for Trade 500+
10% reduced trading fees*
Europe, Asia, Oceania, Africa
Fees (Maker/Taker) 1.49%*-3.99%*
Available for Trade 75+
$10 sign-up bonus*
North America, South America, Europe, Asia, Oceania, Africa
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.
What Is Tap (XTP)?
Before we dive into the details of the token, let’s cover what the Tap platform is and what it aims to provide. Tap is a multi asset platform that is currently removing the financial boundaries by connecting the crypto world to the fiat world. By providing a platform on which users can buy, sell, store and send both crypto and fiat currencies, Tap is truly revolutionising crypto integration into the financial landscape.
The app supports several top cryptocurrencies, namely Bitcoin, Ethereum and Litecoin, and allows users to use them as they would their fiat currencies. Through several features, the Tap app aims to seamlessly allow users to take the reins of their finances right from the mobile app in their pockets.
A brief overview of some of Tap’s features:
Buy And Sell Crypto Using Smart Trade Technology
Users can tap into the crypto markets knowing that they are always getting the best price available. Integrated into the app’s trading process is our unique smart trade technology that scans hundreds of order books and top exchanges to find the best possible price in real time. We also keep accounts on all the top exchanges to ensure that your trades are instantly executed. Not only can you get the most competitive price, you can also complete your trade in just 3 seconds.
Store Your Fiat And Crypto In One Place
The Tap wallet allows you to store both support cryptocurrencies as well as fiat currencies under the same account. All balances can be seen from the homepage of the app, with one swift overview of each of your portfolios. Users can see under their Assets section of the homepage the three balance options: Crypto, Cash and Card and can instantly see how much funds are in each portfolio. Funds kept in your Tap wallets are stored in a cold storage wallet solution, while we keep a smaller amount in a hot wallet designed to instantly provide liquidity when executing trades.
Spend Your Crypto On The High Street
Through the use of our Tap prepaid crypto card, users can tap into their crypto balances and spend it anywhere in the world. The card has direct access to your funds stored in your Tap wallets on the app and with a tap of the finger can instantly execute any trade, any where. Accepted by merchants around the world, card holders can also withdraw local fiat using their card at any ATM. The card is in partnership and facilitated by Mastercard, accepted globally.
Send Your Funds Anywhere
Whether you’re looking to send BTC to a friend, or pay your bills, you can do so directly from your Tap app. Leaders in the alt banking scene, we allow users to directly pay friends, family, and accounts right from the app, using whichever currency – both fiat and crypto.
What Is XTP?
XTP is the ticker for the Tap token native to the Tap Global platform. The token is an ERC-20 standard created on the Ethereum blockchain and issued by Tap n Go Ltd Gibraltar, with a maximum total supply of 10 billion XTP and divisible up to 8 decimal places.
The Tap token serves two main purposes on the platform:
Reduced Transaction Fees
Users have the option to pay transaction / exchange fees using their cryptocurrencies or the XTP token. Users who opt to use the native XTP token can enjoy a 25% discount. XTP is a supported cryptocurrency on the app and can be stored in the eponymous wallet under Crypto assets.
Better User Terms
Users can also opt to stake their XTP tokens in order to earn higher card levels and better user terms. While the Tap card is available to anyone, the Tap Black account requires users to stake 100,000 Tap tokens for 6 months while the Tap Titanium account requires users to stake 500,000 Tap tokens for 6 months. The Black and Titanium accounts allow users to enjoy varying benefits, from reduced exchange fees to increased ATM withdrawals to free fiat forex exchanges.
The Tap token also undergoes monthly burns in order to reduce the total supply of the tokens and thereby increase the token value. Similar to how Binance conducts their BNB burning, each month 10% of the profits made by Tap will go into the burning of the Tap tokens.
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.
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).