Telcoin is a cryptocurrency that gained popularity in a short time period even though it has been on the market since July 2017. Unfortunately, major exchanges like Binance or Coinbase do not offer it on their trading pairs’ list. Therefore, how and where to buy Telcoin is a pretty reasonable question.
TEL is a cryptocurrency that implements its technology to solve essential problems in the modern payments system.
Consequently, many investors consider it an outstanding project once it gets more established and consumed by clientele.
In this article, I will briefly review Telcoin and some of its important aspects and show you how to buy TEL crypto with minimal hassle.
Without further ado, let’s dive into it.
- 1 What is Telcoin (TEL) and What is it used for?
- 2 How and Where to Buy Telcoin
- 3 How to safely store Telcoin in a hardware wallet
- 4 F.A.Q – Frequently Asked Questions
What is Telcoin (TEL) and What is it used for?
Telcoin is an ERC-20 crypto built on the Ethereum network.
TEL was first established in Singapore and it entered the market in July 2017.
The project’s main target is the remittance market and is aiming towards becoming a leading bridge between blockchain and telecommunications.
No matter how surprising it might sound: There are five times more mobile phones than active bank accounts.
The Telcoin tokens will provide the backbone for the company’s products and services, which are targeted at providing financial services to anyone with a mobile device, for example, cash transfers via SMS or voice calls in emerging markets.
It’s ridiculous that people still have to send money through high-cost remittance companies like Western Union and pay over 7% in fees.
Especially when such transfers usually take a longer time to settle while Telcoin makes it possible for you to complete a transfer within seconds and with less than a 2% fee. No matter the time or place.
Simply said, Tel crypto aims to become the leader of mobile money.
The objective is not to compete with telecom mobile money companies but to cooperatively define the overall mobile money ecosystem.
Therefore, Telcoin is planning to collaborate with some major telecommunications companies like Verizon and AT&T.
By partnering with telecoms, Telcoin strives to solve basic trust, marketing, and compliance challenges that have interfered with cryptocurrency adoption to date.
Besides the mentioned companies, Telcoin affiliates with other reputable Partners, Exchanges, and DEXes:
No matter how good fundamentals this might have, there are a couple of things to consider before buying Telcoin:
Use of Telcoin in real life
According to the GSMA’s latest state of the industry report, there are more than 1 billion active mobile money accounts in 95 countries, capturing $7.3 billion in annual remittance value.
With a total market value of nearly $700 billion, there is massive room for mobile money-focused remittance services’ growth.
Because of TEL’s outstanding features, it easily became the number one way to send remittance money from Canada to Philipines.
Filipinos receive around $2.8 billion in remittances from Canada annually.
Telcoin has recently partnered with GCash, the leading mobile e-wallet in Philipines and 33 million users worldwide, to lower the international transaction fees and make the transfer process much more convenient.
Team behind Telcoin
The company was founded in 2017 by Claude Eguienta, who has international finance and development background.
He has worked for organizations such as World Bank, the UN Development Programme, and Standard Chartered Bank.
The team includes experts in telecom, blockchain, payments, and finance with significant experience working within various countries including the United States of America, Luxembourg, Ghana, and France.
The team also includes highly experienced financial experts with over 20 years of experience in different sectors.
The team members might have various backgrounds but they all have a shared passion for this project.
They are all working towards the same goal and they will do whatever it takes to accomplish it.
You can follow the Telcoin team on Twitter for more frequent updates.
Telcoin market overview
The total supply is 100,000,000,000 TEL.
At the time of writing, only 54.16B TEL is in circulation (54%) and the dominance over the market is as little as 0.06%.
With a market cap of 917M single coin costs $0.017 and its market rank is #83 according to CoinMarketCap.
Telcoin distribution is divided into 5 different sectors:
- 25% – was crowd-sold to the investors once the TEL coin launched.
- 15% – was kept by the Telcoin team.
- 5% – was kept for the liquidity fund.
- 5% – was used for community incentives
- 50% – distributed to Telecom companies to provide Telcoin to their users.
Telcoin price prediction 2021
Keep in mind that Telcoin is as volatile as other cryptos on the market.
Currently, at the end of the day, Bitcoin and Ethereum are the leading coins that the other ones follow.
Therefore, if BTC and ETH begin moving downward highly likely Telcoin will do the same.
That’s why when trying to predict Telcoin’s price always think in a long term and not in one day, week, or month frame.
Most predictions for TEL’s price by the end of 2022 are in a $0.02 – $0.05 range.
From my perspective, such numbers can be precise if the cryptocurrency market continues the bearish pattern.
Telcoin and other cryptocurrencies face 3 serious challenges before becoming more established:
- Perception of being a legitimate asset in the eyes of Regulators and Governments.
- Having global convenient reach in the payment market.
- Having a partnership with major payment bridges and corporations like Apple Pay, Google Pay, Visa, Mastercard, Amazon, and Walmart.
Judging from Telcoin’s team, vision, fundamentals, and real-life practices it will not be hard for TEL to overcome the mentioned obstacles.
Therefore, if the project keeps progressing at the same steady pace by 2022-2023 it’s very possible for Telcoin’s price to be approximately $0.10.
Such a price target would require a 5B total market cap. That is 5 times more than the current TEL’s market cap.
However, considering the serious global problem Telcoin can solve, will make it easy for TEL to move into a bigger players’ league.
Is Telcoin a Good Investment?
As you already know Telcoin’s goal is noble, but it is uncertain whether or not they are going to be able to deliver on their promises.
Telcoin has a complex but achievable business model.
They are utilizing blockchain technology to provide banking and financial services to the unbanked population in emerging markets.
Telcoin will succeed if it can manage to tap into a large market of people who have no access to banking and similar financial services.
TEL can be considered an excellent investment because it has already attracted many international investors and business collaborators who believe in its potential.
How and Where to Buy Telcoin
You already know several important aspects that make TEL a good investment.
Now it is time to learn how to buy Telcoin itself.
Below is a step-by-step listing to help you easily buy Telcoin.
Register and Deposit funds on Kucoin
The first step would obviously be creating an exchange where you can buy Telcoin.
I find Kucoin exchange pretty convenient and easy to navigate through.
If you are not a US citizen you can directly top up your Kucoin balance with a debit or credit card.
However, if you want to buy Telcoin in the US first follow these steps:
- Create an account on Kucoin.
- Buy cryptocurrency on a different exchange like Binance or Crypto.com. Choose cryptos with minimal transaction fees like XLM, XRP or LTC.
- Transfer the crypto you have bought to Kucoin’s suitable cryptocurrency address.
In case you are new to transferring crypto from one wallet to another feel free to read this helpful guide.
Convert the Crypto to Buy Telcoin
For you to trade your crypto for Telcoin, you need to have either BTC, ETH, or USDT.
Therefore, if you do not have any of these coins you need to exchange your crypto into one of the mentioned first.
Click on the “Trade” at the top left corner of Kucoin’s dashboard and select “Spot Trading“
For example, if you want to trade LTC for BTC:
- Click on the BTC/USDT at the top left corner.
- In the search field type “LTC“
- Choose any of the pairs I have highlited below.
After clicking on any of the trading pairs you will see a “Spot” in a small box at the bottom right corner where you can sell/buy your cryptos.
For example, if you want to sell LTC for USDT:
- Click on the “Spot” as shown in the image below.
- Choose “Limit” if you want to buy/sell the coin for a specific price. Choose “Market” if you want to buy/sell the coin for the best market price.
- In the right column enter the amount of LTC you want to sell (If you want to sell the whole amount just click on the “100%“).
- Submit the trade with “Sell LTC” button below.
Now you are all set to buy your first pair of Telcoins.
Just like in Step 2 instead of LTC type in TEL and select a suitable pair.
Then, repeat Step 3.
Indicate the amount of Telcoins you want to buy and press “Buy TEL“
Now that you already know all the steps to how and where to buy Telcoin you can share it with your friends and family members.
How to safely store Telcoin in a hardware wallet
If you have completed the mentioned steps then congratulations on being a Telcoin holder.
But not an official holder… Yet.
As long as your coins are located on an exchange you do not own the coins.
They are on the exchange’s wallet, therefore the crypto you have bought belongs to them.
“Not your keys, not your coins” remember that!
Even though Kucoin is a highly reputable exchange I believe keeping YOUR crypto on YOUR wallet would give you more peace of mind at night.
Therefore, it is highly recommended to move your Telcoin to a hardware wallet for higher security.
You can store your Telcoins on a hardware wallet device like Ledger.
If you are interested in reading more about hardware wallets then check out our detailed article.
F.A.Q – Frequently Asked Questions
Can I buy Telcoin with cash?
No, unfortunately, it is not possible for you to directly buy Telcoin with cash.
However, a peer-to-peer exchange like LocalBitcoins allows you to purchase BTC with cash and then withdraw it to a reputable altcoin exchange.
Localbitcoins is a Bitcoin exchange that allows peer-to-peer transactions between Bitcoin buyers and sellers, without the need for an intermediary such as banks or brokers.
First, you must register to create an account and then deposit funds to use the website. Once these steps are complete, you can search for Bitcoin sellers and buyers in your region. Sellers can set their own prices for buying or selling Bitcoins.
Can I mine Telcoin?
No. According to Telcoin’s issuance model, all coins are mined at the beginning and distributed over time.
What makes Telcoin unique?
- Instant transfers – The mix of blockchain and mobile money technology enables users to make international transfers within seconds.
- Powerful and secure network – Because Telcoin is built on Ethereum blockchain it strengthens the network with multi-signature crypto security.
- Cost-effective – The average fee of remittance transfers is over 7%, while Telcoin targets the fee of 2% or less.
- Mobile-friendly – Telcoin partners with e-wallets and telecom companies globally, giving users the control over their finances without a need for a bank account.