TAP - All Crypto Exchanges under one app
TAP wallet, an app which allows you to trade with many major exchanges with just single sign-on and using single trade window. In short, Combines All Crypto Exchanges into One. I was looking for such option since long time, I am fed up with login into multiple exchange app or sites and watching multiple windows for trading. Even if I have 2,3 or even 4 monitors to watch multiple exchange account then also it’s not easy to trade. People who are new to crypto might be thinking why we need multiple exchange accounts. The answer is not all tokens are listed at one exchange, there is not even a single exchange till now which is offering trading with all tokens. The reasons are different, there are some exchange which support only specific type of tokens, some exchanges change very high fees, some exchanges ask for higher volume before listing token. And some exchange targeting service to specific locations only. Now you know why we need to open account with multiple exchanges and you can imagine how difficult it will be for not only trader but for investors as well to use multiple exchanges. Moving funds from one exchange to other is another pain as it takes long time and as trader you may miss the opportunity to buy tokens at specific rate.
TAP wallet app will have single window from where we will have access to multiple coins and tokens. Buy or sell tokens at any exchange that too at best rate. TAP app will have feature which will scan all connected exchanges for better rates and will show us best rate available at that time. We need to go through KYC process at one time only when you open account/register with TAP. No need to repeat the KYC process even for new exchange connected to TAP. With TAP, after a simple registration and KYC process, a new investor can fund their account with a bank transfer or debit card payment for free. For bank transfer user will get a sort code, account number, IBAN and reference. Once funds get added to the TAP account user can buy any supported crypto currency at spot rate for a maximum fee of 1.5% through the app at a touch of a button and once you bought the token, these crypto will be added to the TAP wallet. I checked the approx. cost/fees at other top exchanges and its around 4%. TAP not only offering best exchange features but also charging less fees. All your crypto assets will be kept in one safe place that you can view, buy or sell anytime.
How fast your trade will get completed at TAP platform? Just 3 seconds, TAP claiming that their platform will be so fast that we can complete and fulfill any trade in under 3 seconds not only crypto but FIAT trades as well. Right now, a crypto to crypto trade across exchanges can take up to 60 minutes to fulfil. How TAP can complete the trade within 3 seconds when then are offering services connected to multiple exchanges? The TAP project will keep a liquidity pool at each exchange and in several FIAT currencies. When you place a trade through the app, the TAP middleware will execute this trade through the hot wallets held at the exchanges instantly. The middleware then updates your account with the funds that you can use right away.
On 20th October TAP announced that they have released new Alpha version of their app. This app is not available for public testing, but once the internal testing of this app is completed they will release the app for public testing and I got the information from TAP telegram team that bets release will be in November. When I come to know that TAP have released New Alpha Version of their App, I thought their ICO is completed or at lease reached softcap. But to my surprise they have not even started the ICO. All projects take different approach, they launch ICO first, collects money and then starts development. But TAP decided to development platform first so that investors don’t have to worry about development or product release. I liked this approach from TAP, I have seen many projects taking years to develop product after receiving money and that makes investors uncomfortable and many times it resulted in dumping of tokens.
I am keeping watch on the progress of this project and continuously visiting their telegram channel for recent updates, if you wish to do the same then here are the social media links for TAP
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