5 Reasons Why Tapswap Might Be a Scam

Tapswap has quickly become a significant player in the Nigerian cryptocurrency market, following a highly successful airdrop campaign by Notcoin. As a result, millions of Nigerians are now participating in the tap-to-earn activities that Tapswap offers, engaging in mining, and earning crucial points through the platform. 

As of now, Tapswap stands out as the leading Telegram-based crypto project in Nigeria, surpassing others like Blum and Hamster Kombat in terms of participant numbers.

Despite its growing popularity, Tapswap has recently been the subject of intense scrutiny within the Nigerian crypto community. 

The initial enthusiasm sparked by the airdrop campaign has been overshadowed by increasing doubts about the project’s legitimacy. 

Some crypto enthusiasts, led by influential voices have pointed out several red flags that could make the crypto project a scam. Here are five critical red flags about Tapswap and its operations that are causing concern among investors and casting doubt on the integrity of the entire project.

Consistent technical glitches

Tapswap users frequently encounter technical issues, which is alarming for a Web 3.0 project of its scale. Problems range from difficulties accessing the Tapswap Telegram interface to issues connecting wallets. 

Such persistent glitches significantly degrade user experience, contrasting sharply with smoother operations seen in other major crypto projects. Despite Tapswap’s recent announcement of maintenance to address these issues, the continuous technical problems raise serious concerns about the platform’s capability to provide a reliable and efficient service.

Blockchain launch is uncertainty

Initially, Tapswap was linked with the Solana blockchain, known for its high speed and efficiency. However, a sudden announcement on May 27 revealed plans to discontinue this association due to scalability issues, yet no alternative blockchain has been confirmed. 

This leaves Tapswap’s vast user base of 28 million in limbo, uncertain about the platform’s technological foundation and future. The lack of a stable and transparent blockchain alignment undermines the trust and credibility of Tapswap among its users.

Boost the visibility of Web 2.0 outlets

In early June, Tapswap introduced a task requiring users to subscribe to two Nigerian news channels, promising a reward of 400,000 points. 

This move sparked speculation that Tapswap might be exploiting its user traffic to boost the visibility of these Web 2.0 news outlets, possibly indicating a hidden agenda. 

Integrating such traditional media platforms into a Web 3.0 project not only seems out of place but has also led to criticism about the project’s seriousness and intent.

No community space

Despite its significant user base, Tapswap has not established a community space, a critical feature for most credible Web 3.0 projects. Community spaces allow users to exchange ideas, offer feedback, and foster a sense of involvement and transparency. 

Tapswap’s lack of such a platform is a glaring omission that impedes user engagement and transparency, casting doubt on the platform’s commitment to its users’ interests.

One Ton to double points scheme

Tapswap’s shift from a free engagement model to requiring payment for point doubling has been controversial. 

The introduction of a fee to double earned points, particularly in a scheme initially advertised as free, has been perceived as a betrayal by the community. 

This pay-to-earn shift not only contradicts the original ethos of the platform but also disadvantages dedicated users who have invested time and effort, suggesting a pivot towards profit over user benefit.