Is Tapswap a Scam? This Nigerian Crypto Analyst Shares His Observations

Bittime - On Wednesday, June 5, 2024, Nigerian crypto analyst, Israel Usulor, sparked an important discussion by questioning the legitimacy of the Tapswap coin mining app. The viral video posted by the analyst has raised eyebrows within the crypto community, leading to debate over whether Tapswap is a scam or a legitimate venture.

Key Observations on Tapswap

Usulor, who frequently analyzes crypto trends, highlighted several changes in the Tapswap app that he found concerning. According to his observations, the app no ​​longer claims to be powered by the Solana blockchain, a detail that has caught the attention of many users.

In his TikTok video, Usulor shows new tasks in the Tapswap application that seem suspicious. When he clicked on the tasks, they took him to unrelated Telegram channels—one posting sports news and another sharing news about Nigeria. These link redirects raise questions about the authenticity and purpose of the app.

Tapswap Blockchain Claim Changes

Another significant change noted by Usulor was the removal of the “powered by Solana” claim from Tapswap. Initially, the app prominently featured its association with the Solana blockchain, but this has now been replaced with “community supported.” Usulor suggested that this shift could indicate a potential attempt by the app's promoters to mislead users.

Expert Opinion on Tapswap

To provide a balanced perspective, another crypto analyst, Ekeson Egwuonwu, offered his observations to Legit.ng. Egwuonwu acknowledged the changes in Tapswap but argued that these modifications do not necessarily indicate fraud. He explained that Tapswap may be shifting to a community-driven model to involve its user base more directly in the coin mining process.

Solana Moves Away from Tapswap?

Egwuonwu also mentioned that there have been reports about Solana distancing itself from Tapswap, but he has not verified those claims. He emphasized that the change from “powered by Solana” to “supported by the community” could be a strategic move to highlight the role of users in supporting and maintaining the platform.

Sponsorship and Sources of Income

Responding to new tasks in Tapswap that redirect to different Telegram channels, Egwuonwu suggested that these may be sponsored content. He explained that Tapswap can leverage its user base to attract sponsors who want to reach a wider audience. This approach, according to Egwuonwu, is common practice and does not necessarily imply fraudulent intent.

Conclusion

The debate surrounding Tapswap's legitimacy continues, with strong arguments on both sides. While Israel Usulor's observations raise valid concerns about the app's transparency and sudden changes, Ekeson Egwuonwu's perspective provides a possible explanation for these modifications, suggesting that they could be part of a broader strategy to engage the community and attract sponsorship.

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