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TAP: The new-age crypto payment card

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TAP: The new-age crypto payment card
Source: TAP

TAP is a suite of services in application: users can access a secure wallet, trade, and transact. While TAP offers a lot of convenience by offering an umbrella of services in one platform, its greatest utility is the provision of a payment system for cryptocurrency holders.

TAP’s ability to facilitate real-world payments are done through an intuitive protocol. While the concept is simple, the technology providing the service is complex. TAP provides users with a wallet; whenever users want to transact their holding, the highest bid on the largest cryptocurrency exchanges is filled to instantly access fiat for the merchant. While TAP is not the first card provider to the crypto-community, it is providing the most advanced and community-centric service.

TAP vs Crypterium

Crypterium began its ICO over a year ago and raised over $50 million to develop a cryptocurrency bank. However, the major portion of its development has, so far, been on the provision of a digital payment card. While Cryptereium’s digital payment card has seen considerable adoption, TAP’s offering is easily the next generation payment card for cryptocurrency holders.

Cards: Despite launching its ICO over a year ago, Crypterium’s card offering remains digital. The project still has no clear deadlines on the roll-out of its physical payment cards. Thus, Crypterium users can only transact crypto at locations that accept payment Apple, Android, or Samsung Pay.

On the other hand, TAP will be launching with its physical cards ready-to-go. This allows TAP users to be able to transact at far more locations as point-of-sale systems that can support payment cards greatly outnumber those that support digital payment services like Apple, Android, or Samsung Pay. Thus, TAP users will be able to spend their cryptocurrency at not only all the places Crypterium’s users can, but also at hundreds of thousands of other merchants that can only support physical payment cards.

Conversion: Both TAP and Crypterium promise to access the best price when converting crypto to fiat to fulfill the transaction. However, Crypterium does not disclose which services it uses to convert the crypto; the company expects the community to trust that Cryptereium will access the best prices.

On the other hand, TAP clearly discloses its exchange partners. TAP has partnered with the largest and most liquid crypto exchanges in the world – Binance, Kraken, BitMax, and Bitfinex – to access the best possible bids in the crypto trading space at the time of a user’s purchase. Thus, TAP users can rest assured that when they make a purchase, their crypto gets sold at the best bid on the major exchanges they are well-aware of.

Fees: Both TAP and Crypterium charge fees to fuel the conversion and payment. However, Crypterium utilizes its tokens only as a means to accepting the 0.5% transaction payment. TAP has a much more community-centric approach.

Anyone who holds TAP tokens can stake them to access various tiers of benefits. At the highest tier, 50,000 TAP tokens can be staked to unlock absolutely free usage of the card. Thus, TAP gives its greatest supporters the opportunity to completely dodge all fees. For users who intend to actively transact large amounts, TAP is offering a great benefit.

Wrap-Up: While TAP is not the first payment provision to instantly pay fiat while holding crypto, it is the most superior offering in the market. TAP’s physical cards will be usable at almost all merchants across the globe, will convert crypto to fiat at the best rates at well-known exchanges, and would be accessible free of fees for users who want to stake tokens to get the Titanium card.

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  1. Avatar

    Adhiana

    December 7, 2018 at 7:47 PM

    Where to buy TAP tokens?

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Press Release

Ampleforth [AMPL] To Conduct First IEO on BitFinex and Ethfinex’s Blockchain Project Launch Platform, Tokinex, in June

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Ampleforth [AMPL] To Conduct First IEO on BitFinex and Ethfinex’s Blockchain Project Launch Platform, Tokinex, in June
Source: Pixabay

Ampleforth expected ticker symbol AMPL, announced today it will be the first initial exchange offering to be conducted on Bitfinex&Ethfinex’s token project launch platform, Tokinex.

Ampleforth’s whitepaper, co-authored by Manuel Ricon Cruz, a researcher at the Hoover Institute, introduces the Ampleforth protocol. Further context for understanding the implications of AMPL as a new type of synthetic commodity and economic theory is provided in the accompanying Red Book.

The appeal of digital assets like Bitcoin is that they are uncorrelated with traditional asset groups. But, among large-cap digital assets, there is a high degree of non-diversifiable risk and the price volatility of most cryptocurrencies mimic that of Bitcoin.

Evan Kuo, CEO, and founder of Ampleforth said, 

“We see Amples as having a near-term utility that naturally dovetails into a much bigger vision, and I can’t wait to see it unfold. The Bitfinex and Ethfinex user communities are among the best in the industry, and we are excited to work alongside the Tokinex team for Amples’ exchange debut.”

Ampleforth’s protocol receives exchange-rate information from trusted oracles and propagates that to holders of Amples by proportionally increasing or decreasing the number of tokens each individual holds according to the magnitude of the exchange rate fluctuations over the previous 24 hrs.

For traders, these changes in the exchange rate and quantity translate into changes in Ample’s market capitalization. Ultimately, unique trader behavior in response to the protocol’s incentives is expected to produce an asset price with lower correlation to Bitcoin than other digital assets.

Jean-Louis van der Velde, CEO at Bitfinex, stated 

“The Ampleforth project is fascinating to us with its refreshing vision to become a unique digital asset and serve as a potential future reserve currency. We believe it can provide a unique volatility profile, uncorrelated to other digital and traditional assets. This uncharted territory makes Ampleforth, and the team behind it, the perfect first project to list on Tokinex and we are excited to provide an opportunity for the community to be a part of it.”

Paul Veradittakit of Pantera Capital said,

“Ampleforth is interesting because there’s not another asset like it, so it will likely not be correlated with other large-cap cryptocurrencies. With more traders and enthusiasts entering the ecosystem since the last rise, there needs to be an option like AMPLs, which could reduce the risk for the entire space, and potentially attract more institutional interest.”

About Ampleforth

Ampleforth is a digital asset protocol for smart commodity-money funded by Brian Armstrong, True Ventures, Pantera Capital, and Slow Ventures. For more information, please visit our website.

About Tokinex

Launched in May 2019, Tokinex is the IEO platform of Bitfinex and Ethfinex that brings fair opportunity to participate in curated token projects. It gives qualified participants the chance to contribute to pre-vetted token sales directly from their personal wallet through common crypto assets, and with no personal data or funds held by the exchange.

Tokinex uniquely does not require tokens to pay an upfront fee for listing and following a successful capital raise are subsequently listed on the two exchanges as permitted by applicable law.

For further information please contact.

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