What is Telcoin (TEL) | What is Telcoin token | What is TEL token
In this article, we’ll discuss information about the Telcoin project and TEL token
What is Telcoin (TEL)?
Telcoin (TEL) is an Ethereum-based decentralized crypto established in July 2017 in Singapore to be the bridge between cryptos, blockchain and the telecommunication industry.
The project aims to partner with leading names in the telecoms industry like Verizon and AT&T to remove the hassle that exists between billing platforms and mobile money.
The main focus of Telcoin is the remittance market, where Western Union is currently the clear leader. Telcoin is partnering with global telecoms and mobile money platforms to provide users with high-speed, low-cost digital remittances to mobile money platforms and e-wallets.
Telcoin (TEL) is an ERC-20 token based on the Ethereum blockchain. TEL is used in the telecoin ecosystem for making payments on e-commerce websites.
Who Are the Founders of Telcoin?
In 2017, Paul Neuner and Claude Eguienta co-founded Telcoin to help users transfer money globally in seconds. Paul Neuner, who serves as the chairman of Telcoin, has amassed over 12 years in the field of telecommunication before venturing into the world of blockchain.
His earliest involvement as a tech entrepreneur in the telecom space starts with Mobius, a startup that provides fraud management services for mobile networks. In 2012, he founded Pangea K.K., a software mobile application development company based in Tokyo, Japan.
Before establishing Telcoin, in March 2017, he started Ikou, a mobile app for creating and organizing events. In 2018, he started Sedona, a next-gen telecom fraud management service that focuses on securing sovereign mobile financial services.
Claude Eguienta serves as the CEO of Telcoin and heads the project. He has an MS in computer science where he focused on distributed systems. For over a decade, Claude has worked for startups and large tech companies focusing on giving customers the best financial services.
What Makes Telcoin Unique?
The main focus of Telcoin is the remittance markets. While there are almost five mobile phones to a bank account in existence, people still queue up to send money from high-cost remittance agents, with Western Union being the largest.
Leveraging the power of blockchain, Telcoin is bringing people in the developing world a faster, low-cost alternative to remittance services. To achieve this, Telcoin works with mobile operators and e-wallets globally, allowing them to reach a broad base of users with a contactless service.
Like every other decentralized digital asset, Telcoin gives its user complete access to their money via their phones. At will, users can send and receive money from anywhere in the world. The project is also centered around the user, keeping the platform as user friendly and as familiar as possible.
Telecom operators that connect to the Telcoin network are immediately able to issue TEL tokens. The network gives incentives; the more the TEL token traffic an operator has, the more incentives he gets from the network.
The incentivized model of Telcoin offers extremely low fee services that are attractive to end-users but still profitable for networks, according to Telcoin.
How Many Telcoin (TEL) Tokens Are There in Circulation?
Telcoin is built on the Ethereum blockchain. At its launch in 2017, 25 percent of the tokens were distributed in crowdsale to investors. Another 15 percent were retained by the Telcoin Team with a 5 percent liquidity fund.
The telecom operators’ incentives described above makes up 50 percent of all the tokens. Community incentives and ongoing developments get on 5 percent of all TEL tokens.
The project launched with a fixed amount of TEL tokens. The max tokens on the network are fixed at 100,000,000,000 TEL. Currently, approximately 50 percent of the tokens (50,270,110,195 TEL) have been issued.
How is Telcoin Secured?
Telcoin runs on an Ethereum-based blockchain. While it benefits from the security in the decentralization of the network, staking is not available on the Telcoin network.
There are also no validators on the network; instead, it uses a proof-of-concept model. The partners of Telcoin, the telecoms that sign up to integrate TEL, are the equivalent of validators on the PoS blockchains. The telecoms get the rewards on the network.
To achieve better security, Telcoin implements multi-signature crypto security or a multisig model. This means that to complete a transaction on the Telcoin network, you would need at least two private keys. Users can set the number of keys required before a transaction is completed.
In addition to the proprietary Telcoin wallet, there is also an option of integrating other existing telecom mobile money wallets.
Remittances Reimagined on Mobile
There are nearly five times more mobile phones than active bank accounts, yet people around the world are still lining up to send money from high-cost remittance agents like Western Union. Why waste time and money when you could be using what’s already in your pocket?
Instant Transfers
By leveraging blockchain technology and mobile money infrastructure, we enable users to transfer money globally in seconds.
Most Affordable
Including fees and FX margin, the global average cost of sending a remittance is over 7%. Telcoin is targeting an average total cost of less than 2%.
Mobile Convenience
Telcoin works with mobile operators and e-wallets globally, allowing us to reach a broad base of users with a contactless service.
Powerful and Secure Network
Built on the Ethereum blockchain, Telcoin combines the strength of a decentralized network with multi-signature crypto security.
A solid model for telecom adoption
Telecom operators are issued TEL based on their transaction volume and integration maturity, ensuring the most efficient delivery of an affordable remittance service to their subscribers.
Incentivized Adoption
Telcoin can easily fit into existing fee models for connecting to carrier billing and mobile money platforms, but any fees applied are then deducted from TEL issuance. The model incentivizes a low fee service that is attractive to end users but still profitable for networks.
Flexible Telecom API
Telcoin’s pricing and exchange API interacts directly with carrier billing and mobile money platforms through REST APIs, SMS, and USSD.
Expanding mobile financial services
Telcoin connects existing mobile money platforms to the decentralized financial system of the future, beginning with a globally marketed remittance service aligned with the telecom industry.
Wallet Agnostic
In addition to our proprietary wallet, Telcoin can integrate with existing telecom mobile money wallets. Offering Telcoin to subscribers is as easy as adding an additional remittance merchant.
How and Where to Buy Telcoin (TEL) ?
TEL token has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT, BNB from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy TEL token.
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Since TEL is an altcoin we need to transfer our coins to an exchange that TEL can be traded. Below is a list of exchanges that offers to trade TEL in various market pairs, head to their websites and register for an account.
Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase … from the exchange.
The top exchange for trading in TEL token is currently KuCoin, HitBTC, Bilaxy, Simex, and 1inch Exchange
Contract ETH: 0x467Bccd9d29f223BcE8043b84E8C8B282827790F
There are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once TEL gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
Find more information TEL
☞ Website ☞ Announcement ☞ Explorer ☞ Explorer 2 ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Social Channel 4 ☞ Message Board ☞ Coinmarketcap
🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.
🔥 If you’re a beginner. I believe the article below will be useful to you
⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐
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