The Telcoin platform and price explained
Telcoin is a blockchain-based, user-owned financial platform that aims to provide all mobile users with access to high-quality but affordable, user-owned financial products. Its primary focus is, however, on the remittance industry.
The platform's components include the TEL token, Telcoin App, TELx, and Rivendell - an Ethereum side chain validated by the Mobile Network Operators, a GSMA member.
The TEL token
The TEL token is the native token of the platform, and it plays various functions in the Telcoin ecosystem. It is a protocol token that can also be used as a medium of exchange and a reserve asset. Its holders can use it to access different financial products supported by the platform.
It's an ERC-20 token with a max supply cap of 100,000,000,000 TEL coins. Currently, there are 61,728,700,558 coins in public circulation.
According to Coinmarketcap, as of writing, each coin goes for the price of $0.001824. The tokens are ranked the 252nd largest cryptocurrencies in the world by market cap.
The TEL tokens are available on several crypto exchanges, including KuCoin, Uniswap, Phemex, and Balancer. The tokens can, however, not be purchased directly with fiat currency.
You'll first have to buy other crypto coins like BTC, or ETH, then go to an exchange that lists TEL tokens and use your ETH or BTC to purchase them.
The Telcoin App provides users with access to all of Telcoin's products. The app features a fast, affordable remittance portal and a digital wallet on the Polygon Network.
Users can use the app to send, receive, withdraw, and trade various supported digital assets at an affordable fee. Those who wish to send money to friends and family anywhere on the globe can do so through the app at a friendly fee of 2% or less.
The app currently supports fiat remittance from Canada and the USA to 16 countries, including Bangladesh, Ethiopia, Salvador, Indonesia, Kenya, and Pakistan. It is available for download on Google Play and the App Store.
TELx is the decentralized liquidity engine of the Telcoin platform. It's designed to power all services provided on the Telcom platform, including cross-border money transfer and digital asset exchange, without relying on intermediaries.
The decentralized liquidity network is a new addition to the platform. It launched with two user-owned decentralized products, The SMS network and TELxchange.
The SMS (Send Money Smarter Network) is a user-owned global remittance network, while the TELxchange is a user-owned decentralized digital asset exchange.
Rivendell is still in development. The Network, an Ethereum side chain, is run, validated, and secured by Mobile Network Operators. Once in operation, it will provide fast, secure, credible neutral transaction settlement for the Telcoin ecosystem.
Is Telcoin a good investment?
Launched in 2017, Telcoin has been around for a while. So far, the team behind the project has managed to meet all the deadlines set on the project's roadmap.
Since its launch, it has made several strategic partnerships with Telcom operators that have enabled it to solve three major issues facing many crypto projects trust, reach, and Know-Your-Customer (KYC) compliance. The project is here to stay.
Its native token (TEL) continues to perform averagely well in the crypto market. However, the token is not listed on most prominent cryptocurrency exchanges, their trading pairs are limited, and they can't be bought directly with fiat money, which inconveniences many investors.
The Telcoin platform is an excellent addition to the crypto space considering its features and services. The current Telcoin price provides a good entry point into the crypto space for anyone who doesn't wish to spend or risk a lot in the highly volatile market.
Author: Jay Jackson
Jay Jackson is a crypto trader, researcher and freelance writer. He works closely with people and businesses in the crypto sphere, writing blog posts, guides, press releases, reviews and ebooks.