What is Telcoin?
Telcoin (TEL) is a native asset used on Telcoin, an app that users can download and use to transfer money from their bank balance to mobile money platforms worldwide. For instance, account holders in the US can transfer money from their bank balance to Bangladesh via bKash or Indonesia via GoPay.
The mobile remittance network was initiated by Claude Eguienta and Paul Neumer. Paul serves as the CEO, and he is an experienced entrepreneur who had previously ventured into the space by providing fraud management services for telecoms in a previous startup.
In addition to domestic payments and international remittances, the app facilitates the storage of cryptos on its Polygon wallet.
Users can similarly access TELX, a liquidity engine provided through the network, and use it to provide liquidity into protocols such as Quickswap and Balancer. The network also consists of the Rivendell settlement network (an Ethereum sidechain run by telecom operators)
TEL is used across the platform in various ways:
- Liquidity bridge in TELX;
- As an account unit, medium of exchange, and reserve in the app;
- Staking and gas fees to power Rivendell.
TEL draws its value proposition by offering a low remittance cost. Users can send money at only 2% or less in total fees.
Sending and receiving crypto tokens only attracts a fee of 0.1% or less. Getting started with the app is also quick and super intuitive.
What to Do After Buying Telcoin
After purchasing Telcoin from a cryptocurrency exchange, users can utilize it in many ways:
Users can open a live trading account with cryptocurrency exchanges, make a crypto deposit, and trade against other crypto assets after they buy Tel coin;
Holding and selling at profit
Investors may hold Telcoin in their wallet and sell it later at a profit when the price increases beyond the initial purchase price.
Contributing to TELX liquidity pools
Users can provide liquidity on various exchanges such as QuickSwap.
Can You Buy Telcoin in the US?
Yes. US residents can buy TEL from regulated exchanges, brokers, and ATMs.
Wondering how to buy Telcoin in the US? Changelly partners with some of the leading Fiat to crypto providers, including Moonpay, which has secured money transmitter licenses across the US.
Buy Telcoin USA by choosing the preferred currency for the transaction (USD) and crypto asset (TEL) from the buy tab.
Why buy Telcoin?
Telcoin has undertaken an audacious mission of disrupting the mobile payments market. The Telcoin team has made certain strides to achieve that goal, including making it possible for account users in the US and Canada to make transfers across the world to mobile networks, mainly in emerging economies.
The app similarly tries to solve the problem of acquiring crypto assets securely and conveniently at low fees.
Is Telcoin a good investment?
Many investors wonder if it’s a good idea to buy Telcoin crypto. Well, the project has demonstrated relative stability as it has operated reliably since 2017.
Telcoin's price is yet to reach $1 as of July 2022. The highest all-time price was $0.06, attained in May 2021. Since then, the price has decreased, with the same trend reflected across other cryptocurrencies and tokens.
Still, the project may have a promising future if more users start using the platform and as it expands to add more sovereign mobile financial services around the globe.
Is Telcoin reliable?
The platform is fully decentralized, and its V3 now runs on the polygon network, offering the Send Money Smarter (SMS) network and TELxchange.
V1 was initially launched on the Ethereum blockchain. But the high gas fees occasioned by factors such as network congestion forced the team to consider other alternatives.
Polygon now has a thriving ecosystem with other blue-chip projects such as Quickswap and Aave.
Where to store your Telcoin?
Investors can take advantage of the following crypto wallets to store Telcoin:
- Hardware wallet: Trezor Model T, Ledger Nano X, & Trezor One;
- Official Telcoin App;
- Third-party software for mobile phones: COINS, MyEtherWallet, Atomic;
- Web wallets: Guarda, AlphaWallet.
*Choose a wallet that provides full control of the private keys. And if you’re asking "where I can buy Telcoin crypto", choose Changelly for access to reputable on-ramp sellers with the best quotes.
Can I buy Telcoin with a credit card?
Investors can easily purchase TEL using their credit cards on Changelly. We partner with highly reliable and trusted platforms that follow KYC/AML guidelines.
The only way a transaction may fail is if the card provider declined to authorize the charge on their end. But the situation can be easily resolved with a call to the issuer’s support team.
Can I buy Telcoin with a debit card?
Questioning where to buy Telcoin crypto with a debit card? Purchases may be completed using various debit cards, including virtual and prepaid. There might be slight conversion losses when paying with local currencies. As a recommendation, consider using USD or Euro bank cards.
Do I need a bank account to buy Telcoin?
No, it's not absolutely necessary to have one to acquire Telcoin. So, how do I buy Telcoin without one? As a workaround, consider using a prepaid or virtual debit card. Retail stores sell prepaid cards, but it's also possible to order them online.
Can I buy Telcoin with a bank transfer?
Changelly partners with fiat to crypto platforms that make it possible for customers to buy Telcoin crypto with bank payments. For instance, UK customers can take advantage of UK Faster Payments, while EU customers can use SEPA and SEPA Instant transfers.
Can I buy Telcoin with the app?
Take advantage of the Changelly mobile app to purchase Telcoin. The app is available for both iOS and Android devices. It's free to download and displays the best rate from our partnered fiat-to-crypto platforms.
Can I purchase Telcoin (TEL) with Paypal on crypto exchanges?
Wondering how to buy Telcoin with PayPal? It's a little bit difficult to use this payment method as very few exchanges and brokerages support it. The only alternative is to find a seller on peer-to-peer exchanges, but it's critical to watch out for high fees, non-trustworthy sellers, and custodial wallets.
How quickly will I receive TEL after purchase?
On average, it takes 5 to 30 minutes for customers to receive tokens in their wallets after making a purchase through Changelly. TEL purchases have become quite fast after the network migrated to Polygon.
Can I sell Telcoin for USD on crypto exchanges?
Yes, it's possible to sell Telcoin for Fiat money. However, it will be first necessary to convert it to a very popular crypto asset such as ETH that is easily redeemable.
Get started by exchanging TEL on Changelly to BTC, ETH, etc. Use our sell feature to cash out the cryptos (e.g., sell Bitcoins) to fiat currency.
Can you get Telcoin for free?
Telcoin runs regular promotions to incentivize users to use their app. For instance, in June 2022, new users could claim up to 5,000Tel by simply downloading the app. There were more rewards for completing other simple tasks.
So, follow the crypto project on social media and keep an eye out for updates.
Several free crypto faucet websites offer free TEL to users for completing tasks. But only work with reputable websites with a proven history of paying out rewards to customers.