In a recent interview with Weekend Trust, Uche Ikechukwu, a crypto expert and content creator, shed light on the tapping trend sweeping through the Nigerian crypto space. Ikechukwu discussed the origins of the tapping phenomenon, its evolution, and why he believes it’s not a sustainable or reliable way for individuals to make money. While some early adopters found success, Ikechukwu emphasizes the importance of understanding the broader crypto landscape to make informed financial decisions.
Origins of Tapping and Notcoin’s Rise
According to Ikechukwu, the tapping trend began with Notcoin, a Telegram mini app that allowed users to earn tokens by simply tapping on their devices. Notcoin’s success was unexpected, as it quickly garnered millions of users. “Nobody knew what was going to be the outcome,” Ikechukwu shared, explaining that people initially had no idea whether the platform would succeed or fail. However, as more users tapped, the company began distributing tokens, allowing many to earn significant sums.
Ikechukwu himself made around $1,000 with minimal effort, but he acknowledges that not everyone was as fortunate. “Others made 20 dollars, some 50,” he said, highlighting the varied outcomes among the 30 million subscribers. Notcoin’s success sparked a wave of similar projects, such as Tapswap and Hamster Kombat, which attempted to replicate the platform’s model.
Challenges Faced by New Tapping Platforms
While other projects like Hamster Kombat experienced initial success, Ikechukwu points out that the overwhelming number of users made it difficult to maintain the same level of profitability. “Hamstar Kombat, at the end of the day, had about 300 million users,” he noted, explaining that this large user base made it impossible to distribute meaningful earnings to each participant. Ikechukwu predicted that the platform would struggle to maintain its success due to its inability to allocate sufficient tokens to its users.
“They said they gave the airdrop to 150 million people or so,” he said, reflecting on the company’s token distribution model. Ikechukwu believes that if more tokens had been allocated, the platform could have performed better. However, the sheer scale of users meant that even a modest payout would require an astronomical amount of money—something that wasn’t feasible for Hamster Kombat.
The Reality of Crypto Tapping: No Long-Term Job Security
When asked if tapping could be considered a reliable source of income, Ikechukwu was unequivocal. “I am not sure it can be regarded as such,” he said, expressing doubt about the long-term viability of tapping. He warned that as more platforms fail to deliver meaningful returns, interest in the trend could fade. “Within the next few months, if we have a lot of them that are not doing well, the trend may die off.”
For Ikechukwu, the focus should shift away from tapping and toward building skills that allow individuals to succeed in the broader crypto industry. “I would implore people to focus on the skills around that will enable them to make money in crypto than just focusing on tapping,” he advised, emphasizing that tapping is just “0.1 way of making money in crypto.”
The Need for Regulation in the Crypto Space
Ikechukwu also touched on the lack of regulation surrounding the tapping trend, pointing out that some platforms have exploited users by taking their money without delivering on promises. “Some founders are now capitalising on this trend to create fake platforms where they can take people’s money,” he warned, calling for government oversight to prevent such scams.
With no formal regulations in place, users are left vulnerable to fraudulent schemes, and Ikechukwu believes that the introduction of clear guidelines could help protect them from financial losses.
Final Thoughts: Diversifying Crypto Income
For those still interested in tapping, Ikechukwu offers cautious advice. While it may offer a small chance to make money, he urges people to explore other avenues within the crypto world. “If you make money from tapping, good, but start thinking of other ways and start implementing it,” he concluded, urging Nigerians to view tapping as just one of many opportunities in the ever-evolving crypto landscape.
