How Modern Banking Met Crypto Trading

Payment solutions is one of the key areas that is being disrupted by Bitcoin and altcoins. Cryptocurrencies, in general, have arrived with a lot of promises towards addressing the existing deficiencies in the banking sector.
Promotional Content
ash pr images

Despite the growth and expansion that has been seen in the cryptocurrency industry, in order to achieve its full potential, the technology must find ways of adapting with existing systems.

Card payments and electronic banking have become the most common avenues by which payments are settled. This has become the definition of modern banking, however, there still remains a lot of room for improvement within these systems.

Where Does Payment Settlements Take Place?

Beyond the parties that are directly involved in transactions, what happens at the backend is always of utmost importance. That is where the payment gateways introduce specific technologies and technicalities to ensure that transactions are properly settled.

Considering the various benefits of cryptocurrencies, implementation as a convenient payment system in retail transaction has not been very successful. A number of factors that are responsible for this situation include the absence of liquidity, varying exchange prices and the volatility of the cryptocurrency market.

To solve these problems, Gibraltar-based Tap N Go Limited has introduced an app and a card system that enhances a seamless trade between traditional currencies and cryptocurrencies. The platform uses its backend processes to ensure that users are able to convert their crypto assets for spending instantly using their tap cards.

What Issues Are Addressed By tap?

This is a new development that addresses the issue of delays in transactions which is making it difficult to use most cryptocurrencies, especially Bitcoin, for retail transactions. The platform, which is connected to all exchanges selects the best price for users during transactions and completes payment instantly on the user’s behalf while final settlements are handled at the backend, with the lowest fees.

The tap platform is robust and flexible with a variety of services for the crypto community. Users can easily top up their crypto portfolios using fiat through either bank transfers or with the use of debit cards.

This system introduces the missing link between cryptocurrencies and the mainstream by providing a user interface devoid of the often-confusing technicalities for regular fund users. Indeed, cryptocurrency is making inroads into the mainstream, and tap has taken a strategic standpoint to ensure that this happens without any form of stress.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.