Telcoin (TEL) is a cryptocurrency project that is gaining a lot of ground at the moment. Prices have almost doubled in the weeks, making it one of the best performing tokens on the market. In addition, this previously unknown crypto project has surpassed the top 100 altcoins by market cap. However, we understand that you may not yet know what Telcoin is, how it works and where you can buy the Telcoin token.
In this article we explain everything about Telcoin. After reading this article you will know exactly how this project works and what it is all about. This makes it easy for you to determine for yourself whether you think this is a good project to invest in.
- 1 What is Telcoin?
- 2 Suppliers and customers
- 3 Ethereum blockchain
- 4 The team
- 5 How can you buy Telcoin (TEL)?
- 6 How do you store TEL tokens?
- 7 Is it smart to invest in Telcoin?
- 8 Telcoin’s roadmap
- 9 The price of Telcoin
- 10 What makes Telcoin unique?
- 11 How does Telcoin differ from other cryptocurrencies?
- 12 Conclusion
What is Telcoin?
Telcoin is an Ethereum – based cryptocurrency that was launched in 2017. The idea behind Telcoin is that it allows major telecommunications companies including Verizon and AT& ;T, so they can work together and help process international payments.
While this sounds like a telecom-related blockchain project, Telcoin is actually aimed at sending money abroad. Also known as wire transfers, millions of people around the world send money through Western Union companies. However, there are billions of people in third world countries who currently do not have access to a bank account.
However, many of these unbanked people still have a phone. According to Telcoin, there are five times as many mobile phones as active bank accounts. Therefore, it makes sense to tackle the money transfer market not with bank accounts, but with mobile phones and e-wallets as an alternative.
Telcoin users would have full access to their money via their phone and can send money anywhere in the world without needing a traditional bank account. Telecommunications operators who are partners of the Telcoin network can donate TEL tokens. The more TEL tokens an operator has, the more it will invest in the Telcoin network.
Suppliers and customers
Telcoin meets the requirements of telecom operators because its platform complies with international telecom regulations. It will also be distributed by GSMA mobile network operators.
The world’s largest mobile network providers have partnered with Telcoin to democratize and provide this service. As a result, it can offer it to a few billion mobile users.
The platform is built on a foundation of the Ethereum blockchain . The Ethereum technology is a market that represents a real gold mine now and in the future.
The platform enables international transfers, online payments, mobile top-ups and transfers. What is also interesting about this project is that it allows its customers to use the cryptocurrency even without having a bank account.
In 2017, Paul Neuner and Claude Eguienta co-founded Telcoin to help users transfer money worldwide in seconds. Paul Neuner (President of Telcoin) has over 12 years of experience in the telecommunications field before venturing into the world of blockchain.
His earliest involvement as a tech entrepreneur in the telecom space begins with Mobius, a startup that provides fraud management services for mobile networks. In 2012, he founded Pangea KK, a mobile application development software company based in Tokyo, Japan.
Before founding Telcoin, he started Ikou in March 2017. This is a mobile app for creating and organizing events. In 2018, he started Sedona, a next-gen telecom fraud management service focused on securing sovereign mobile financial services.
Claude Eguienta is the CEO of Telcoin and leads the project. He has a Master of Science in computer science where he focused on distributed systems. For over ten years, Claude has worked for startups and major tech companies focused on providing the best financial services to customers.
How can you buy Telcoin (TEL)?
Do you want to buy Telcoin’s crypto coin, TEL? You can do that on various exchanges. We recommend that you do this on a major crypto exchange such as Binance or Bitvavo . These exchanges have a high liquidity, so you can always buy TEL there. In addition, these are also very safe crypto exchanges. The chance of things going wrong on these platforms is very small.
It is also possible to buy TEL from decentralized exchanges (DEXs), although it is a lot more difficult to make a purchase here. For example, if something goes wrong on Uniswap or Sushiswap , you cannot go to a help desk or service desk. And the chance of things going wrong is considerable, because you have to go through many more steps. That is why we recommend that you choose Binance or Bitvavo.
How do you store TEL tokens?
TEL is a well-known and widely used cryptocurrency. In addition, it is also an ERC-20 token, which runs on the Ethereum blockchain. That is why you can store TEL in almost any online wallet. Think of the wallet of the crypto exchange you use. In most cases it is also possible to store TEL on a hardware wallet , although this will differ per brand and type of wallet. Therefore, take a good look at the supported coins of the hardware wallet that you use (or want to buy), so that you are sure that you can store TEL on the cold wallet.
If you want to go for secure storage, it is smart to choose a hardware wallet. This separates the crypto coins from the internet, so that the chance of a hack is many times smaller than with an online wallet that is linked to, for example, a crypto exchange. You then have to have faith in the security of the provider of the wallet.
Is it smart to invest in Telcoin?
It is difficult to say whether it is wise to buy Telcoin. That depends on several factors. Are you looking for a long-term investment? Then Telcoin could be a good choice. Telcoin does not experience significant price swings, making it perhaps not the most suitable coin for short term investments. In that case, you would be better off going for another cryptocurrency.
However, you will always have to do your own research before you decide to invest in a token or cryptocurrency. You can do this by means of a technical analysis , where you look at the price. You can extract patterns from the history of the price, and then recognize them in the current price. This way you can make a prediction on what the price may do in the future, and whether it is a smart time to get in.
It is also possible to do this through fundamental analysis. You will mainly research the functioning of the project, the team and the market in which Telcoin is located. Do you think this is all very good? Then you can determine for yourself whether the value of TEL-coin is undervalued. That is the best time to buy the coin. The moment the coin is overvalued, you can sell the coin. This is how you get the biggest profits with crypto trading . Always base your conclusions on your own research, and not on what someone else thinks or says.
In the future, the team behind Telcoin wants to expand the payment and receiving markets even further. It must be possible for everyone in the world to receive and send money with Telcoin by telephone. The transaction speed must also be increased, so that users can perform their transactions even faster. That’s a big advantage over competitors like Western Union.
All this should ensure that Telcoin can serve the wishes of the users even better. After all, that’s what it’s all about for the team behind Telcoin. These are not the only plans Telcoin’s team has. You can find more information about the Telcoin roadmap on the Telcoin website.
The price of Telcoin
Telcoin has been a pretty obscure cryptocurrency for the past few years. Prices have generally fluctuated around $0.0005 for a very long time, with almost no price movement during that time. It’s only recently that prices have started to spike. Currently, TEL tokens are trading at $0.04 USD, a price increase of about 80 times in the past three months.
While this is certainly one of the best performing altcoins on the market, one wonders how long this wave will last. We suspect that Telcoin could see a fairly strong correction in the coming weeks as traders enjoy their gains. Once that starts, prices will drop sharply, but I suspect TEL will remain above $0.01 for the rest of 2021.
What makes Telcoin unique?
Telcoin’s main focus is on transferring money. Even though there are nearly five mobile phones for a bank account, people still queue to send money through expensive money transfer agents, the largest of which is Western Union.
Telcoin harnesses the power of blockchain and offers people in the developing world a faster and cheaper alternative to money transfer services. To achieve this, Telcoin partners with mobile operators and e-wallets worldwide, enabling them to reach a broad base of users with a contactless service.
Like any other decentralized digital asset, Telcoin gives its user full access to their money through their phone. Users can send and receive money from anywhere in the world whenever and however they want. The project also focuses on the user and keeps the platform as user-friendly and familiar as possible.
Telecom operators joining the Telcoin network can issue TEL tokens right away. The network provides incentives; the more TEL token traffic an operator has, the more incentives he gets from the network.
Telcoin’s incentive model offers extremely low-fee services that are attractive to end users, yet profitable for networks.
How does Telcoin differ from other cryptocurrencies?
- Mobile Friendly . Telcoin is designed so that you don’t have to change your mobile spending habits at all. Instead, it offers you a new platform for international transfers, mobile top-ups and much more.
- wallet . In addition to the official Telcoin wallet, the company also helps other telecom operators build their own Telcoin wallet and another third-party wallet.
- Flexible API (Application Programming Interface). The Telco API is quite developer friendly and allows easy interaction with prepaid and postpaid billing platforms. You can also access your mobile accounts via REST APIs and SMS.
- Stimulates a greater number of token holders . Once an operator joins Telcoin, they are immediately eligible to issue TEL tokens. The more TEL tokens that are exchanged, the greater their incentive will be.
When you want to transfer money abroad, this is not always that easy. This is because not everyone has a bank account number, for example. Or because the bank account number is not suitable for foreign transactions. That, combined with the fact that there are 5 mobile phones for every bank account, gave the team behind Telcoin a brilliant idea.
Telcoin makes it possible to send money to others without a bank account number. All you need is a mobile phone. You can then send and receive money with this phone and Telcoin. This ensures that you no longer experience problems with sending and receiving money.
Are you already thinking about buying Telcoin and adding it to your wallet? Then it is wise to choose one of the crypto exchanges we recommend. However, only do this after you have properly researched the coin. By doing research you lower the chance of making losses. It is not wise to just buy a crypto currency like Telcoin because others tell you so. Others can also be wrong, so that you will lose a lot of money. You do research by means of a fundamental or technical analysis, which we have already discussed earlier in this article.
Thanh Lanh Tran(1989) is Chief Editor from BitcoinUSD.com