Telcoin (TEL)

Discover the basics of Telcoin and find links to beginner-friendly guides that show you the best way to invest in it.
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Updated: Nov 22, 2022
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About Telcoin

What is Telcoin?

Telcoin is a money transfer platform that works on mobile devices and e-wallets. TEL is the cryptocurrency that is used on the network. Telcoin uses blockchain technology to make international mobile money transfers cheaper and faster than ever. The decentralised financial service provider partners with telecommunication companies and e-wallet platforms, allowing users all over the world to instantly transfer funds from their mobile phones via SMS or an app, or direct to other wallets.

How does Telcoin work?

Telcoin records all transactions on a blockchain. It has been built on the Ethereum blockchain and is an ERC20 token. This means other users on the network validate all transactions. Using the Telcoin platform is fairly simple. Users can download its app and make international payments easily by following the on-screen instructions. The Telcoin app has many features and lets users trade, deposit, send, and receive money.

How is the Telcoin network secured?

It’s secured by the blockchain it runs on. TEL is an ERC20 token, which means it runs on the Ethereum blockchain. Other users on the network verify and secure all transactions. Known as validator nodes, they receive tokens for securing the network.

Telcoin also has other features that enhance its security. It uses a multiple-signature model, allowing users to up their security. Transactions on the Telcoin network require two private keys to work; however, the multi-signature model lets users increase this requirement, thus enhancing security.

What is Telcoin used for?

It’s used to transfer money globally using a mobile device or e-wallet. Traditional methods of international transfers are not only expensive but can take a matter of days to clear. Through blockchain technology, Telcoin has reduced transaction times to a matter of seconds and lower costs. The platform has already partnered with several telecommunication companies, works with many e-wallet providers, and has licenses and regulations across numerous countries.

Why does TEL have value?

Telcoin has value for many reasons. Its service is not only much faster than traditional methods but considerably cheaper. The average fee for sending international remittance payments is around 7%, while on Telcoin it’s just 2%. The platform also incentivises new network providers to join its service by offering TEL tokens as a reward, meaning the ecosystem can grow faster. Users can also hold their coins in any ERC20 wallet, so they’re not tied to the Telcoin network.

Who created Telcoin?

Telcoin was founded in 2017 by telecommunications and cybersecurity entrepreneur Paul Neuner and its CEO, Claude Eguientta. Neuner had previously co-founded Mobius, a fraud management service for mobile network operators, before starting Telcoin. The company is based in Singapore and operates globally.

Where can I buy Telcoin?

You can buy Telcoin on a crypto exchange. An exchange is a marketplace that allows you to sign up, deposit your money, and buy some crypto, just as you would with a stock platform.

Most cryptocurrency brokers allow you to keep the coins you buy in your account. However, you may want to sign up for a dedicated crypto wallet for some extra security.

You can deposit money into a broker or exchange account by a bank transfer or card payment. However, if you prefer to use a different payment method, like PayPal, then your options may be more limited.

Are there any other ways to invest in Telcoin?

The simplest way to invest in Telcoin is to buy it outright. However, another option is to simply open a crypto account. Crypto accounts are like regular bank accounts and allow you to store a variety of currencies, send and receive payments, earn interest on savings, and spend freely with a credit card.

More about the TEL price

What is the Telcoin price today?

The TEL price is currently $0.001628 as of November 2022. The price of Telcoin is down 85% in 2022. You can use the live Telcoin chart to track the TEL/USD price in real time above, or compare the Telcoin value today to its past performance using the Telcoin price history tab at the top of this page.

What is the price prediction for Telcoin?

The average Telcoin price prediction values the coin at $0.025 by the end of 2025. Things like the economic climate, its ability to grow it network, and the crypto market as a whole can all have an impact on the price.

It’s best to take predictions with a grain of salt but you can use expert estimates to help you understand the weight of opinion about a coin.

What is the total supply of TEL?

The circulating supply is 65,000,000,000 TEL, out of a total maximum supply of 100,000,000,000 TEL.

Are there any Telcoin alternatives?

Telcoin is a decentralised finance service with many projects operating in the same space. Telcoin focuses on mobile money transfers and has a few competing cryptocurrencies offering a similar service. Here’s a selection of the best Telcoin alternatives.

  • Ripple. Ripple is a cryptocurrency used to transfer money across the globe.
  • Stellar. Stellar lets you move money worldwide.
  • Nano. Nano is a money transfer platform that is economically friendly.

More crypto guides

FAQs

Is Telcoin safe?
Has Telcoin been hacked?

Latest Telcoin news


Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Prash Raval
Financial Writer
When not researching stocks or trading, Prash can be found either on the golf course, walking his dog or teaching his son how to kick a… read more.