Investing In Telcoin (TEL) – Everything You Need to Know
Telcoin is an upcoming cryptocurrency based on Nxt that is a blockchain based project that is a cloud service platform for all coin traders. The project was first announced on September 19, 2016 by the director of Nxt, Jelena Stavnich, who is also the CEO of Telcoin.
Telcoin is a new cryptocurrency that is being created to facilitate payments anywhere in the world without the need of a bank or other financial institution. Telcoin is the first cryptocurrency that puts the power of the economy in the hands of the people.
Lately, all the hype around cryptocurrencies has reached a fever pitch, and it is all because of the meteoric rise of one cryptocurrency in particular: Telcoin. And for good reason. Telcoin is a cryptocurrency that is designed to benefit people who live in Africa.
Telcoin (TEL) operates as a decentralized crypto-currency and money transfer payment system. It is designed to streamline global money transfers by integrating blockchain and the telecommunications industry. The platform aims to become the main currency used by telecom operators to offer money transfer services to their customers.
The potential of this strategy is easy to understand when you consider that there are five times as many mobile phones in the world as active bank accounts. In many parts of the world, the mobile infrastructure exists but lacks the financial infrastructure to provide traditional banking services. For remote locations, Telcoin could be a breakthrough.
What problems is Telcoin (TEL) trying to solve?
Blockchain integration continues to grow in the CIT industry. For many countries in the world, remittances are a financial lifeline. It can represent a significant proportion of a country’s GDP. In Somalia, for example, remittances represent 35.3% of the country’s GDP. For these countries, offering a reliable form of money transfer is not only a matter of cost savings, but also of national security.
Telcoin – Twitter
These countries have started to use blockchain technology in a new way. El Salvador, for example, recently became the first sovereign country to adopt bitcoin as legal tender. This decision was driven by a number of factors, including rising inflation and increasing reliance on remittances. A report by Trading Economics shows that remittances to El Salvador reached $684.94 million in May, up from $644.52 million in April 2021.
Unfortunately, the money transfer industry is currently dominated by large centralized providers. These companies continue to increase their rates by passing on the costs charged by the many external service providers needed to process international remittances. Telcoin is leveraging its existing mobile payment infrastructure to provide the market with lower rates and a more efficient user experience.
Benefits of Telcoin (TEL)
Telcoin users enjoy many benefits. First: The platform operates in a decentralized manner. The use of blockchain technology provides greater transparency and flexibility. Moreover, the developers have worked hard to remove technical barriers. Telcoin can be downloaded for free on Apple and Google devices. The installation takes a few seconds. Then cash in, enter the recipient’s country, phone number and amount, and send.
Thanks to the use of blockchain technology, Telcoin can transfer money around the world almost instantaneously. To accomplish this task, the platform integrates existing mobile money infrastructure. By comparison, sending money worldwide via Western Union can take more than 24 hours.
By excluding many third parties from the transfer process, the total amount of fees to be paid by users is reduced. Telcoin users must pay a 2% fee. For most providers, including MoneyGram and Western Union, this rate is at a global average of 7%. More importantly, the Telcoin network can offer services to users with low fees and still remain profitable for service providers.
Telcoin uses the full security of the Ethereum blockchain. Advanced security features, such as multi-signature and API protocols, are built into the platform. The network communicates directly with operators’ billing and mobile money platforms via REST APIs, SMS and USSD.
The use of the API makes it easy to integrate Telcoin into mobile networks. The supplier shall not make any changes to the equipment. Integrating Telcoin is similar to adding a new provider to your platform. In this way, the network acts as a valuable stepping stone to decentralized markets.
How Telcoin (TEL) Works
The Telcoin network combines existing mobile money platforms with a decentralized financial system using proprietary technology. The platform was designed from the outset to integrate with existing commission models and provide a more efficient alternative to the market.
Telcoin (TEL) – Home Page
The Telcoin wallet allows users to communicate with all network functions. You can easily send and receive TELs worldwide from your portfolio dashboard. You can also access important data such as transaction history and current account balance. The wallet is designed to be secure and simple. Anyone can participate in the decentralized economy with a Telcoin wallet.
Telcoin (TEL) relies on the Ethereum blockchain for reliability and the execution of smart contracts. Ethereum currently uses the proof-of-work consensus mechanism. It is currently the second largest PoW network in the world. That’s why it’s incredibly safe.
Ethereum will move to a proof-of-stake (PoS) network in the coming months. This upgrade will increase the scalability and functionality of the network. This additional scalability will allow Telcoin to achieve higher performance and transaction speeds per second (tps).
TEL is the main token of the Telcoin network. Users must have a TEL to interact with network services. In particular, telecom operators receive TELs based on transaction volume and integration maturity. This approach ensures the most efficient delivery of an affordable money transfer service to its subscribers.
TEL is a standard ERC-20 token. So you can trade this token on popular DEX like Uniswap and Sushiswap. TEL users have access to the entire Ethereum ecosystem. TEL is also currently available on several centralized exchanges, including Kucoin.
History of Telcoin (TEL)
Telcoin was founded in Singapore in July 2017. Since its launch, the platform has gained popularity. The network has managed to attract many strategic partners including GSMA, Telin, paga, Gcash, unipagos, VIMO, etc. The platform recently completed a V2 update that added money transfer features to the network.
Telcoin – a smart solution to a growingproblem
Telcoin (TEL) is a credible alternative to the status quo. Through the network, users can transfer money around the world in seconds, at a fraction of the cost they would normally pay. For countries that depend on these payments, this could mean billions of dollars in additional revenue for their citizens. For these reasons, Telcoin takes a reasonable position.Telcoin (TEL) is a new cryptocurrency that was released in October 2017. It is an open source, decentralized digital currency that is designed to offer a low cost, fast, and scalable payment system. The Telcoin network is built on top of the Ethereum Virtual Machine and blockchain technology. It is compatible with the Bitcoin protocol, and also allows for the creation of custom Smart Contracts.. Read more about how to buy tel on kucoin and let us know what you think.
Frequently Asked Questions
Is Telcoin a good investment?
Telcoin is currently trading at 0.0085 USD. Telcoin is ranked in the top 50 of all cryptocurrencies. Telcoin can be a good investment.
Is Telcoin a good investment 2021?
Telcoin is a good investment in 2021. Telcoin’s price is forecasted to increase by 6.78% in one year. This means it’s a good time to buy Telcoin now. Will Telcoin price fall/drop? Telcoin might decline in price. If you are considering to buy Telcoin, monitor Telcoin’s price closely to avoid any losses. What is the probability of Telcoin price drop in 2020? Telcoin’s price is in a good
Does Telcoin have a future?
Telcoin has a future because it is a blockchain-based cryptocurrency. What is the difference between Telcoin and Bitcoin? Telcoin is a blockchain-based cryptocurrency. Bitcoin is a blockchain-based cryptocurrency. What is the difference between Telcoin and Ethereum? Ethereum is a blockchain-based cryptocurrency. Telcoin is a blockchain-based cryptocurrency.
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