Crypto-currencies such as Telcoin (TEL) demonstrate the extent to which Bitcoin, Ethereum and all the other altcoins, as well as the associated technologies, are having a major impact on the global economic fabric. Above all, the financial sector is one of those undergoing major change. The system deployed by the creators of the Telcoin crypto, for example, specifically targets the money transfer sub-sector. What is Telcoin’s (TEL) contribution to this market? How does this crypto -which also interacts with telecommunications- work? We wrote this Telcoin review to analyzing for you all the particularities of this crypto. We also answer an essential question: should you invest in Telcoin?
What is Telcoin (TEL)?
Like many other utility crypto-currencies, Telcoin (TEL) powers a system offering a variety of services. In the case of TEL, these services relate to money transfers between individuals, and are based on the development of a chain of interactions between the blockchain, crypto-currencies (read article) and the telecommunications sector.
The Telcoin project aims to solve the difficulties encountered by people wishing to transfer funds. To achieve this, the team behind the TEL crypto is leveraging existing telecoms network facilities. Partnerships with various players in the telecoms industry (AT&T, Verizon) then enabled the development of a system linking Blockchain and mobile payments technology, to bring competition to Western Union and the big money transfer companies. With a view to bringing a rapidly usable and efficient offering to market, with as few missteps as possible, the creators of Telcoin (TEL) chose to deploy their project on an existing Blockchain. The Telcoin crypto is thus based on the Ethereum Blockchain, meeting ERC-20 standards. By leveraging the various technological sectors its services draw on, the Telcoin crypto intends to provide the framework for executing fast, secure and low-cost fund transfers.
The history of Telcoin (TEL)
The Telcoin (TEL) crypto was created in 2017. This creation date may seem surprising. Because several other cryptos, launched well afterwards, have seen their popularity soar far beyond that of TEL. Examples include the Solana crypto (SOL), Shiba Inu (SHIB) and Polkadot (DOT). This is because Telcoin (TEL) owes its existence to the quality of its partnerships. Without them, any attempt to become popular would be mere speculation. Paul Neuner and Claude Eguienta clearly wanted to create a utility token.
The creators of Telcoin
Telcoin’s founder is Paul Neuner, an entrepreneur in the digital sector, with a wide range of businesses to his credit (an event planning application, an application development company, a mobile network fraud management start-up, etc.). Claude Eguienta is a computer scientist specializing in distributed systems. He worked for many years in financial services companies.
Telcoin’s first steps on the market
Combining their experience, they developed the Telcoin concept and built a project with a long-term vision. The project idea, and the way the TEL crypto was to operate, quickly won over investors. As part of the initial coin offer, the public sale of TEL tokens raised US$25 million. This strong start enabled the team behind the project to multiply the number of partnerships over time: Etisalat (United Arab Emirates), Gcash (Ghana), Globe (Philippines), etc. Obtaining more and more authorizations, Telcoin quickly established itself in countries such as Canada, Singapore and elsewhere.
The project continues to grow
In 2021, Telcoin officially made its own money transfer platform available to the public. This was a major realization of Paul Neuner and Claude Eguienta’s vision: to speed up money transfers and reduce their costs. Following this important step, Telcoin continues to develop as the project team succeeds in signing new partnerships.
Why was Telcoin (TEL) blockchain created?
Around the world, there’s a growing need to be able to send money quickly and easily. This need for speed is often felt by expatriate workers, particularly those in developed countries, who wish to transfer funds to their loved ones back home. Unfortunately, traditional methods of sending money generally seem cumbersome. In addition to being carried out via non-linear procedures, they are slow and costly. All these elements combine to create a major problem that the Telcoin (TEL) project aims to solve.
Data published by the World Bank gives a clearer picture of the scale of the problem. In 2018, 689 billion US dollars were transferred worldwide, 529 billion of which went to developing countries. Telcoin relies on the gigantic existing telecommunications market (5 billion people use mobile operator services), to resolve the constraints observed and correct under-banking (1.2 billion bank accounts, almost 5 times less than the number of mobile subscribers). The project then uses Blockchain, and smart contracts, to reduce intermediaries, and therefore costs and lead times.
In 2021, the figures measured prove the relevance of Telcoin’s idea and indicate that the need remains. In press release no. 2022/060/SPJ, the bank estimates that 605 billion euros will be transferred in 2021. The press release also points out that the average cost of sending 200 US dollars was 12 dollars, which is too high. These statistics show that the Telcoin project has solved a real problem, and that it should be extended to enable fast, secure and inexpensive money transfers, thanks to crypto TEL.
How does Telcoin (TEL) work?
Telcoin crypto involves three components of the global economic fabric: blockchain technology, telecom operators and money transfer companies. Crypto TEL is purchased via crypto exchanges, or through Telcoin’s partner mobile operators. Thanks to TELs, large sums of money can be transferred at low cost.
Acquiring Telcoin tokens for money transfers
TEL tokens are issued on the Ethereum Blockchain and on the Polygon Blockchain. Shipments made via the Telcoin crypto then benefit from the traceability and security offered by the use of smart contracts. To send TEL tokens, users simply download the Telcoin app onto their iOS or Android smartphone. This electronic wallet for managing TEL assets also acts as a platform for sending funds.
Thanks to partnerships with telecoms operators, users can use their phone number as an identifier. These same partnerships enable users to convert their Telcoin tokens into fiat currency. Telcoin collaborates with operators offering a mobile wallet service (commonly known as mobile money). For an X amount transferred via the TEL network, the recipient can convert it into their local currency, and receive the corresponding amount in their mobile wallet.
Telecom services as access points to the Telcoin system
In addition, there is a protocol via which Telcoin partner operators can generate Telcoin tokens. Their subscribers can then receive these tokens, exchanging them for fiat currency. What’s in it for the operators? Depending on the services they provide (volume + quality), they receive remuneration.
The components of Telcoin
Overall, the Telcoin crypto system is based on :
the native Telcoin crypto itself, through its TEL ;
the Telcoin application;
the TELx liquidity system, which connects several DeFI (decentralized finance) markets, for the automatic execution of financial services.
Eventually, the project also aims to launch its own Rivendell blockchain. Smart contracts can then be resolved using Telcoin’s own protocols, in addition to those of Ethereum and Polygon.
Where can I buy Telcoin (TEL)?
In addition to being a utility token, the TEL crypto has become a genuine investment asset. So, of course, acquiring Telcoin tokens isn’t just about sending money. As a cryptophile, you may want to buy Telcoin, because the project seems credible and endowed with a certain potential. To do so, simply turn to exchanges offering the Telcoin crypto for direct purchase or exchange, or to AMMs (automated market makers).
The KuCoin platform certainly represents one of the leading crypto-currency exchange platforms, on which you can buy Telcoin. Having officially started operations in 2017, it was launched by a large team of developers and entrepreneurs, led by Michael Gan and Eric Don. According to KuCoin’s creators, their exchange aims to make digital assets accessible to all traffic.
Thanks to the many services offered by the platform, it has won over millions of users worldwide. To date, over 20 million people in 200 countries use KuCoin services (read review). The exchange lets you buy TEL, but also Ripple (XRP), DOGE (DOGE), Uniswap (UNI) and over 600 other cryptos. In addition to buying crypto, you can also benefit from margin trading, futures trading and more. You can trade TEL / USDT, TEL / BTC, etc.
The Bybit platform also represents an interesting option for purchasing Telcoin. This CEX (centralized exchange) is praised mainly for the variety of services and financial products to which its users have access. Headquartered in Singapore, the Bybit exchange has built a solid reputation for its crypto derivatives services. In addition to being able to buy crypto TEL on Bybit via the Spot service, Bybit users can trade options, inverse perps and more. They can also trade metaverse NFTs. When trading Telcoin on Bybit, you’ll benefit from leverage of up to x100!
Bitrue is a unique crypto exchange. Launched by professionals with extensive experience in crypto-currencies and finance, it initially focused on XRP. This platform, which today enables you to buy Telcoin crypto, then deployed up to 48 crypto trading pairs.
Today, you can buy Telcoin and trade TEL on Bitrue, in a secure and ergonomic environment hosting over 1 billion US dollars worth of transactions per day.
Of these 3 platforms, we recommend you opt for KuCoin. In addition to its popularity, this platform has a proven track record of reliability, thanks in particular to the authorizations it has received in various countries. Its ease of use is also a key argument.
Telcoin Fear and Greed Index
Updated:: 22 February 2024
Now: 74 Greed
Now: 74 Greed
Yesterday: 69 Greed
Last Week: 79 Extreme Greed
Is buying Telcoin (TEL) a good investment in 2024 ?
What is Telcoin’s value this year? There are several indications that buying TEL by the end of 2023 or beginning of 2024 could be an attractive investment. To begin with, the project that the Telcoin crypto powers is undeniably useful. In this sense, nothing should shake it to the point of collapse. As Telcoin’s offerings diversify and expand, market confidence in TEL tokens should strengthen. But beyond Telcoin’s own offerings, its collaboration with renowned companies certainly inspires confidence. Of course, utility alone is not enough to answer all the questions raised by a crypto. Telcoin’s price also indicates that this crypto could be suitable for investment.
Telcoin staking and chart
In January 2018, the TEL price in USD started at $0.0061. After an initial dip, it gradually climbs back up over the years. The fine crypto-currency season then also benefits it: TEL tokens reach their all-time high of $0.054 in May 2021. Despite further correction cycles thereafter, the crypto cannot escape a negative spiral. By April 2023, Telcoin to USD was around $0.002, 3 times lower than its initial value. With such a low current value, now seems a good time to invest. Will Telcoin recover? In the next 2 or 3 years, the TEL stock price could return to the $0.05 level. But don’t jump in blindly!
Pros and cons
A credible project with great potential.
Strategic partnerships with major multinationals.
Ambitious team, constantly improving the Telcoin project offering.
Over-dependence on partner contributions.
Telcoin’s flagship service (money transfer) could become obsolete, as players like Western Union already manage to offer direct transfers to a mobile wallet.
Our Final Opinion on Telcoin (TEL)
What about Telcoin’s forecast for the future? Will Telcoin go up? With Telcoin crypto, as with all cryptocurrencies, it’s essential to be vigilant when investing. Watch the market yourself, taking into account your investment history and financial situation. While it’s true that crypto TEL ticks many of the boxes that make it a reliable asset, there’s never a shortage of uncertainty in the financial markets.
Nevertheless, it’s worth highlighting the project’s thoughtful, transparent approach. Services and communication are progressing in line with agreements reached. Finally, what is Telcoin’s prediction? This crypto therefore fulfils the conditions to benefit from the confidence of crypto investors, but this hardly excludes the importance of adopting cautious investment behavior.
FAQ - Frequently asked questions about Telcoin
What is Telcoin?
This is a crypto-currency associated with a platform offering fast, inexpensive and secure fund transfers.
Is Telcoin (TEL) worth $1?
No. So far, in its history, Telcoin has never reached a value of $1. And there’s no certainty as to when the TEL token will reach such a value.
What are TEL tokens used for?
As well as being assets you can invest in, TEL tokens power a money transfer system.
Do I have to go through the Telcoin platform to buy TEL?
If you don’t want to use Telcoin’s money-sending services, there’s absolutely no need to use the dedicated Telcoin platform.
Where can I buy Telcoin (TEL)?
Buy your TELs on exchanges like KuCoin, Bybit or Bitrue. You can also exchange other cryptos for Telcoin on the same platforms, via WMAs like Uniswap.
When should I buy Telcoin (TEL)?
There’s no perfect time. Carry out your analysis and choose the right moment to buy, with a view to profiting when the price rises again.