What is Telcoin? Is it worth it?

Telcoin is a financial tech platform that works as a bridge between the telecom industry and blockchain technology. It is a ERC20 token based on Ethereum blockchain. It is...

Telcoin is a financial tech platform that works as a bridge between the telecom industry and blockchain technology. It is a ERC20 token based on Ethereum blockchain. It is one of the best ways to send money instantly as cryptocurrencies. 

The Telcoin project is headed by Claude Eguienta, who is also the CEO of the company. Since its launch in 2017, it has gained a lot of traction.

What are the benefits of Telcoin?

Telcoin has huge potential in the remittance market which is currently dominated by Western Union. With the partnership of Telcoin with mobile operators, it has access to a huge group of potential clients. The partnership also means low transfer fees compared to money transfer companies like Western Union and others. So, if you live abroad, you no longer have to worry about the fees every time you want to send money home.

How to buy and store Telcoin?

As of now, there is no provision for buying TEL tokens against fiat currencies. You can buy it against cryptocurrencies like Bitcoin and Ethereum. There are several marketplaces that allow you to make the transaction and purchase Telcoin against Ethereum and Bitcoin. 

For detailed suggestions on how to store Telcoin, you can check out Meta Mask or Coinomi multi-asset wallet for Android or iPhone. It is advisable to back up your wallet file or seed purchase for safe keeping. In case your device gets lost or stolen, you can recover them easily from your backup.

Here is the process of getting yourself some TEL coins:

  1. Visit the official website of any of the exchanges as mentioned.
  2. Buy Bitcoin or Ethereum coins according to your convenience.
  3. Buy TEL coins using the purchased Bitcoins or Ethereum coins.

Where to store TEL coins?

Wallets that support Ethereum, support TEL token storage as well. Here are some wallets that can be used to store your tokens with safety:

  • MyEtherWallet
  • Coinomi
  • MetaMask
  • Trezor
  • Ledger Nano S

How is it different from other cryptocurrencies?

There are various features of the cryptocurrency that makes it unique. Here are some of the prominent features that make it different from other cryptocurrencies.

Mobile friendly

Telcoin is designed for easy and convenient international remittances, mobile credit top-ups and more.

Flexible API

The Telco API is developer-friendly. It interacts with prepaid and postpaid billing platforms easily. You can also access your mobile accounts through REST APIs and SMS.

Incentivised adoption

The partnership of Telcoin with mobile operators makes it eligible for issuing TEL tokens. The more the TEL token exchange traffic, the more incentive they will receive.

It is risky to invest in TELcoin?

TEL coin is more like a remittance platform than an investment platform. It is primarily used for transactions via cryptocurrencies. 

If you are an investor planning to invest in TEL, please keep in mind that the supply of this asset is huge. This coin is meant for quick and easy remittance. Hence, the price appreciation can be negatively affected.

However, that doesn’t mean that you can’t make money with TELcoin. All you have to do is be realistic with your pricing goals and you will be fine. Do not expect this token to reach the price level of Ethereum.

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CryptoBusiness & Finance
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