There are many gaps between the traditional financial markets and the cryptocurrency market. One of the most prominent gaps is the lack of exchange aggregators.
The equity and debt markets are studded with competitive e-brokers. These companies make it possible for a person to trade almost any stock or bond that is listed across a vast number of exchanges through a single dashboard. This convenience, coupled with the ease of access to financial data, has made it possible for the average Joe to easily participate in the financial markets. The lack of an exchange aggregation service makes crypto a challenging place for the average Joe.
Finding the best prices often means a person would have to carefully scout prices across multiple exchanges and then transfer capital to that exchange. Moreover, many coins and tokens are listed on specific exchanges. It is often necessary to hop from exchange to another to acquire a diversified portfolio; this means a person has to go through several KYC processes, needs to monitor account security across multiple platforms, and must transfer funds back-and-forth whenever a portfolio adjustment is needed.
This exhaustive work makes participation in the crypto market unfriendly to the masses.
While dedicated day traders have adjusted to the demands of crypto trading, the masses have other commitments that limit the ability to adjust to crypto trading; thus, there needs to be a way to adjust access to crypto the needs of the masses.
While none of the established e-brokers have plans to provide services in the crypto community, a new development, TAP, can provide convenient means to trade in this market.
One Account, Many Exchanges
Similar to the services of an e-broker, TAP makes it possible for its users to tap into the orderbooks of multiple exchanges.
TAP has multiple functionalities as it can provides a payment card that can allow users to pay for daily transactions through their crypto holding. TAP achieves this by selling just enough crypto from the user’s wallet so that the payment can be made; the crypto is sold to the highest bid available across many exchanges.
While TAP will certainly pave a means to use crypto in daily life, it can be a powerful tool for the masses that are curious about cryptocurrencies. Thanks to mass media constantly highlighting the price action in this market, a vast portion of the world is aware of cryptocurrencies. However, this curiosity isn’t converted to participation as crypto is inconvenient. To carry this market to a wider audience TAP provides the means to conveniently trade across many exchanges.
TAP users have to set up one account and deposit capital to just that single account.
TAP will aggregate access to some of the largest exchanges in the world, including BitMax, Binance, Kraken, and Bitfinex. This list is set to increase as the application extends its business development approaches.
Given the existing network of exchanges covers both fiat deposits and access to a wide menu of tokens, TAP can enable a convenient means to turn fiat into tokens and coins at the most competitive prices with just a few taps on a phone screen. TAP could be the key to carrying crypto to the masses and bringing increased liquidity into this market. The application’s user interface is similar to that of any mass-consumption and thus will provide the familiarity people seek. However, the application does not sacrifice functionality for the sake of convenience, a common trap some developers fall into. Thus, TAP weds convenience and functionality to provide a unique trading experience that has been missing in the crypto market for far too long.
For more information, follow TAP on:
Ampleforth [AMPL] To Conduct First IEO on BitFinex and Ethfinex’s Blockchain Project Launch Platform, Tokinex, in June
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.”
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.
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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