Tuyanto: Tap is an exchange application that will allow you to trade on the major crypto exchanges in the world.

Tap is the one stop shop for anyone involved, or looking to get involved, with Crypto.

Predominantly, Tap is an exchange app which will let you trade on major crypto exchanges within the Tap app. With one KYC (Know Your Customer) process you can trade any supported crypto asset on any major exchange. Complete any trade with a touch of a button and, due to the unique way Tap provides liquidity, your trade is executed and fulfilled instantaneously. Tap provides a seamless link with modern banking facilities and major crypto exchanges. New customers can come on-board for free with fiat or cryptocurrencies.

Vision of the future

Who is Tap for?

With an intuitive user interface and broad access to crypto exchanges, the Tap app will make buying and trading cryptocurrencies far more accessible than previously possible.

The new investor

Anyone who has introduced a friend to crypto knows what an alien process it can be on their first time.

The familiar investor

Even investors who are familiar with the buying process still face frustrations when managing their crypto assets.

The crypto adopter

Anyone who has spent a significant amount of time in crypto is likely to have a large proportion of their disposable assets tied up in cryptocurrencies.

The international traveller

Whether a regular traveler or not, we all suffer from punitive exchange rates and/or bank fees.

Very few vendors accept payments using cryptocurrency.

This is because:

1. There is a cost involved with converting cryptocurrency to fiat,

which they would need to charge unless their suppliers also accepted crypto.

2. The vendor would need additional point of sale equipment,

which is unlikely to justify the cost. Perhaps most importantly, the time it takes for a transaction to be confirmed on blockchain (around 10 mins for BTC) is highly impractical as it would require both vendor and customer to wait in the shop.

3. Cryptocurrency prices are currently very volatile,

making accepting crypto risky for the vendor. In order to use cryptocurrencies for mainstream payments, the world needs to instantly convert any cryptocurrency to fiat and transfer that fiat at the point of sale via a Tap card. Tap provides this service.

How tap works

Any seasoned crypto investor is familiar with the laborious KYC processes when setting up multiple exchange accounts. Soon, that will become a thing of the past as every major crypto exchange can be accessed through a single app. This brings several advantages to the crypto investor:

Tap’s proprietary middleware makes this possible

Tap will hold accounts with every exchange and scan their order books to find the best price. It then delivers the best price through the Tap app. With just one click you’ll be able to exchange any crypto asset from one exchange to any crypto asset on any other exchange, completely eliminating the need to move assets across exchanges.

Tap’s hot wallets and liquidity pool

TAP holds balances with exchanges and with our electronic money issuer Transact Payments to facilitate instant fulfilment. This allows the middleware to execute any trades instantly without having to wait for funds to be moved. Now, any trade can be completed and fulfilled in less than 3 seconds and card purchases are possible with converted crypto assets.

Tap’s cold storage of customer assets

Tap keeps all customer assets in offline/cold storage behind a multisignature wallet with the highest grade security. This gives customers peace of mind that their assets are secure. Transactions are run through the hot wallets/liquidity pool, with funds adjusted in the customer’s cold storage account to return funds to the liquidity pool. With our partnership with BitGo, we have our cold storage insured for up to $100M

Tap features & the app

In TAP’s user-friendly app the user will be able to:

1. See their fiat and crypto balances.

2. Determine which of their currencies they use to make TAP card payments.

3. Instantly buy any supported crypto at the touch of a button for a low commission.

4. Exchange any currency (fiat or crypto) for another currency (fiat or crypto) instantly at the touch of a button.

5. Instantaneously send any crypto (or fiat) to another Tap user for free.

6. Stake their Tap to gain a better card.

7. See their virtual card details and make online purchases.

8. Choose when to lock/unlock their Tap card and view their PIN

9. Access other security features like turning on location security so that their card can only be used in close proximity to their phone, etc.

How tap earns fees

One of the key drivers of user growth will be that fiat banking and card services are free of charge with Tap. Tap generates fees when cryptocurrencies are bought or sold, including when using a crypto asset to fund a fiat card purchase. The fee for any crypto transaction will be between 0.5% and 1.5% depending on the type of transaction, the more popular the exchange pairing the lower the transaction fee. Users can opt to pay the fee in Tap tokens, which as we’ll explain a little later, gives the user a 25% discount on the transaction fee

The tap token

At Tap, we feel it is important that the value of the token is securely anchored to the success of the project.

We believe investors can take confidence from these 4 features:

1. Tap token can be used to pay transaction/exchange fees and receive a 25% discount.

This will encourage users to hold Tap tokens in their wallet, thereby benefiting from the reduced fees. When the value of the Tap token increases, in line with wider adoption and increased usage, the user will see the fiat value of their Tap token holding increase. This may encourage them to increase their holding of Tap tokens. Customers buying, holding and using Tap will bolster the value of the Tap token. As the project expands and gains more customers, it is expected that Tap holdings will increase

2. Stake Tap tokens for higher card level and better user terms.

Staking is when you freeze tokens for a set amount of time. During this time, those tokens can’t be used or withdrawn until the staking period is complete. A user can stake certain amounts of Tap tokens to receive a higher card level and enjoy better user terms. The amount staked for each card can be seen in the following section. Staked tokens encourages upward pressure on the token value.

3. Monthly Tap token burning.

Each month, 10% of the profits created by the Tap project will go into burning Tap tokens. This will permanently reduce the total supply of tokens putting upward pressure on the token value.

4. The Tap token will become more exclusive with each passing month.

This method has been employed by Binance, and their coin (BNB) has seen an increase of value of over 1400% since it was first listed in July 2017

Tap cards & currencies

Tap card – available to everyone

• Contactless prepaid card

• £1000 free fiat FX exchange (0.5% after)

• £500 free ATM withdrawals (2% after)

• 0.5 - 1.5% crypto exchange fees (25% discount if fees are paid with Tap)

Tap Black Account – if the user stakes 100,000 Tap tokens for 6 months

• Contactless prepaid card

• £3000 free fiat FX exchange (0.5% after)

• £1000 free ATM withdrawals (2% after)

• 25% discount on crypto exchange fees of 0.5 - 1.5% (increasing to 50% if fees are paid with Tap)

Titanium TAP Account – if the user stakes 500,000 TAP tokens for 6 months

• TAP plastic contactless prepaid card

• Unlimited FIAT FX exchange

• Unlimited withdrawals at ATMs

• Cost price crypto exchange fees

Supported currencies

On launch, Tap will support three cryptocurrencies (BTC, ETH, LTC) and three fiat currencies (USD, EUR, GBP).

State of the crypto market

The crypto market suffered a large correction in early 2018 which raised questions about the long-term health of the market and whether this will affect Tap. Our team believes the correction was a necessary (and temporary) response to an over-paced expansion in the second half of 2017. It is, however, important to see how Tap would benefit during any market cycle. User trends point to increases in new crypto investors during rising markets. Therefore, our marketing will focus on new investors and existing investors keen to increase their holdings during bull runs. Tap is especially well placed to service these users.

The tap team

FOUNDER & CEO – Arsen Torosian

Chief Operating Officer and MLRO– David Carr

Chief Technology Officer – Mike Anderson

Chief Compliance Officer – Christopher Wawn Chartered Manager, Cert CII, PFS

CMO – Peter de Guingand

CDO – Richard Simpson

Financial Advisor to the board – Lucy Ivison

Tap advisors

Graham Rodford

Liam Robertson CFA, CAIA

Neil Patel