The Tap App is revolutionary – even in an ever-crowded cryptocurrency landscape. Through the app, you can store a variety of digital assets in the built-in, cold storage wallet, and trade them on major exchanges with only one KYC process. The Tap app scans exchanges all over the internet, to bring you the best price on the coin of your choice. You conduct a trade with the press of a button and Tap provides instant liquidity. Now, let’s take a look at how Tap’s liquidity pool actually works.
How the liquidity pool works
Want to know how Tap’s liquidity pool actually works? Tap holds balances with various exchanges around the world, and uses their electronic money issuer, Transact Payments, to facilitate instant transaction fulfilment. This enables Tap’s supremely advanced middleware to execute any trade, with any of the supported coins, without having to wait for the funds to be moved. So, any trade can be completed within a matter of 3 seconds, and card purchases are easily conductible with converted digital assets.
Furthermore, Tap keeps all of its customers assets in cold storage, behind a multi-signature wallet of the utmost security. This gives its customers total peace of mind, as they know that their assets are completely secure. Transactions are run through hot wallets – Tap’s liquidity pool – providing instant liquidity. The user’s funds are then adjusted in cold storage, and returned back to the liquidity pool in due time. Tap is partnered with BitGo, and their cold storage is insured for up to $100 million. Even in the event of a (very unlikely) crypto hack, your assets are totally safe and covered by the insurance.
More about Tap’s products
Aside from the wallet and exchange function, Tap also offers users a free Prepaid Card, which can be used anywhere around the world. That means that you can spend your crypto on the high street, which is taken straight from your account on the app, once converted into the fiat of your choice. There are three tiers to the card, the first of which is free with the app.
- Tap Free (comes free with the app)
- Contactless Tap Prepaid Card
- £1000 free fiat FX exchange per month (0.5% after)
- £500 free ATM withdrawals per month (2% after)
- 0.5-1.5% crypto exchange fees (25% discount if fees paid with Tap)
- Tap Black Account
- Contactless Tap Prepaid Card
- £3000 free fiat FX exchange per month (0.5% after)
- £1000 free ATM withdrawals per month (2% after)
- 25% discount on crypto exchange fees (increasing to 50% if fees paid with Tap)
- Tap Titanium
- Contactless Tap Prepaid Card
- Unlimited free fiat FX exchange
- Unlimited free withdrawals at ATMs
- Cost price crypto exchange fees
One (t)app for everything
Tap really is bringing something totally revolutionary to the crypto-space. Now that you know how Tap’s liquidity pool actually works, it’s pretty clear that they’re doing something incredible. From a built-in crypto wallet, to a trading service with multiple exchanges and only one KYC, and a crypto card, Tap is really an all-rounder – and they’re blowing things up in the crypto world.
.svg)
.png)
