The crypto mining space has experienced the emergence of mining operations on social media platforms like Telegram. One of which is TapSwap, which offers users a unique way to mine cryptocurrency using the capabilities of Telegram and withdraw it to their wallets. So, if you want to know about TapSwap and why it generates much buzz, this article is for you. So let’s get started.
What Is TapSwap?
TapSwap is a Telegram mini-app that enables you to earn its native token, “TAPS,” when you engage in various in-game activities. This Telegram crypto game has over 60 million players and 4 million YouTube subscribers as of early July 2024. Its popularity can be attributed to its simple tap-to-earn mechanics, which allows smartphone users to mine the TAPS coin.
Notably, TapSwap’s inspiration stemmed from other successful Telegram-based games like Hamster Kombat (HMSTR) and Notcoin (NOT). These are play-to-earn (P2E) games that also use Telegram’s social features to offer engaging experiences.
There is a maximum quantity of 1 billion TAPS tokens as it is priced at $0.00808 when writing this article. You can use these tokens within the TapSwap platform for transactions and governance.
History And Development Of TapSwap
TapSwap was initially launched on the Solana network in late 2023 to make digital currency more accessible. The intention of the developer is also to address some drawbacks associated with former crypto models, such as the energy-intensive proof-of-work (PoW) mechanism of cryptocurrencies like Bitcoin.
However, the developers have since moved this Telegram crypto game to The Open Network (TON) blockchain. The coin launch, initially scheduled for July 1, 2024, has reportedly been postponed indefinitely. This delay is due to the discovery of bots compromising the integrity of the token distribution process.
How TapSwap Works
TapSwap operates on a blockchain like many other crypto projects. But, it uses a unique algorithm that facilitates transaction security and speed. The following are the features that define the project:
- Tap-to-earn: You earn TAPS coins by tapping on an icon in the Telegram interface. You increase the amount of coins with every tap, making the process direct and engaging.
- Bonuses: This Telegram crypto game offers daily bonuses to keep players engaged. Bonuses such as “Tapping Guru” and “Full Tank” offer additional incentives for regular participation and increase your total TAPS earnings.
- Tasks: You can increase earnings by completing tasks and participating in many in-game activities. Some tasks include subscribing to the game’s social media channels, inviting friends to join the game, engaging with its latest YouTube videos, etc.
- Referral: TapSwap provides an extensive referral system that enables you to earn additional rewards by inviting friends to join the game. Every referral you make increases your TAPS balance and boosts your ranks faster.
- Leagues: This game rewards players for moving ranks and increasing their share stash by introducing a league system. It means that you earn bonus shares as you move up through the ranks.
- Boosters: TapSwap has boosters features to increase your coin earnings.
Overall, you can withdraw your TAPS tokens into your crypto wallet after you have mined them. After that, you can trade the tokens on exchanges or hold them for a possible price increase in the future. This gives you flexibility in managing your crypto assets.
How To Start Playing TapSwap
Step 1: Create A Telegram Account
Download the Telegram app from the Google Play Store or Apple Store. Set up your profile and verify your phone number.
Step 2: Access The TapSwap Bot
Use the Telegram’s search function to find the TapSwap bot. You can type “TapSwap” and choose the official bot from the search result.
Step 3: Start The Bot
Tap the bot and click “Start” to begin engaging with it. Follow the on-screen prompts to link to your account and start playing.
Step 4: Mine TAPS Coins
Start earning the TAPS coins by tapping the screen of your mobile device. Every tap increases your earnings. But, it is important to note that there is a limit to how many coins you can earn in a session. You can also use the coins to upgrade various in-game assets, as well as participate in daily tasks and missions.
Benefits Of TapSwap
1. Accessibility
TapSwap reduces the restriction to start crypto mining such that anyone can start mining through the Telegram bot to earn rewards. These are rewards similar to the ones you earn from Bitcoin mining, which you can trade at exchanges.
2. Mobile-Friendly Design
The platform has a clean mobile design that makes it easy and convenient for users to play and mine coins on the go. This means users can play this tap-to-earn game from their mobile devices without hassle.
Challenges Of TapSwap
1. Phishing Attacks
Security is a serious issue with this Telegram crypto game, as it is with blockchain-based games, as scammers can trick you into providing your private keys or vital information through fake sites that imitate the official TapSwap platform.
2. Smart Contract Vulnerability
Smart contracts governing the game may contain bugs or vulnerabilities that malicious entities could exploit if not properly audited.
3. Market Manipulation
The TAPS tokens may be subjected to market manipulation as you trade them on exchanges. This can affect the value and overall economy of the tap-to-earn game.
Frequently Asked Questions (FAQs) About TapSwap
Is TapSwap Secure?
The Telegram crypto game integrates various security measures, including blockchain technology for secure transactions. But there are inherent risks like every other blockchain-based game.
Can I Withdraw From TapSwap?
You can withdraw your TAPS token into a trusted Solana wallet.
How Much Is TapSwap Coin in Naira?
At the time of writing this article, the price of TapSwap coin in Naira is N2.50.
Is TapSwap Legit?
While it is too early to definitively label this Telegram crypto game as a scam, the long-term viability and token value remain uncertain. Therefore, it is important to exercise caution on the platform.
Conclusion
The TapSwap coin is an advancement in the crypto space. Its speed and user accessibility make it attractive for people of all experience levels to play and earn. But as with other crypto assets, it is important to research and understand the risks associated with the Telegram crypto game before delving into it.
