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What is XTP

What is XTP

Tap into the unlimitless potential of blockchain tokenization as we introduce you to the  token fueling the Tap network: XTP. We’ll be covering everything you need to know about the digital asset native to the revolutionary platform, and give you insight into how and why to get started with XTP.

What Is Tap?

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 - you choose. 

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.

How To Buy XTP

Buying XTP can easily be conducted through the Tap app. Users will need to load one of their Tap wallets with funds (be it Bitcoin, Ethereum, Litecoin, Euros, British Pounds or US Dollars) in order to execute the purchase. The XTP tokens will then be sent directly to your XTP wallet. 

Step Into The Future Of Altbanking

Now that we’ve not only covered what is XTP but also what the Tap platform offers the world, you should have a solid understanding of the future of alt banking. Users can take a giant leap into the future by downloading the Tap app for iOS or Android today, and join us as we make history. 

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