Where to Buy Telcoin (TEL)? How to Buy Telcoin (TEL)?
Telcoin (TEL) is among a few other players in the crypto space that is advancing mobile finance on a global scale. It will be enabling easy conversion between telecom mobile money, prepaid credit, and postpaid billing platforms. Statistically, there are five times as many mobile phones as there are active bank accounts in the world. By partnering with telecommunication operators around the world, Telcoin will be impacting how we live the current world. Wonder where to buy Telcoin (TEL) and how to buy Telcoin (TEL) for long-term profits? Read on to find out.
What is Telcoin (TEL)?
Telcoin Pte Ltd is an existing Singapore private limited company. The Telcoin Foundation is a planned non-profit entity that will be established in a yet to be determined jurisdiction.
The majority of Telcoin team members are operating from Japan as it has a large pool of skilled engineers, less competition for top talent, a high quality of life, and a flexible immigration policy compared to places like Silicon Valley or western Europe.
Telcoin is a newly developed cryptocurrency, based on the Ethereum’s blockchain which mobile network operators will be at the center of their strategy. Telcoin’s mission is to make conversions between telecom mobile money, prepaid credit, and postpaid billing platforms easier and borderless.
By leveraging existing customer bases in emerging markets, the company is able to provide millions of unbanked and underbanked access to affordable financial systems that are not dependent on banking systems or subject to international remittance hurdles.
Telcoin seeks to reach the estimated two (2) billion people in the world who do not yet have a bank account. To do this, the company focused on creating a new version of virtual currency that will be available through telecommunication companies. This concept will allow it to actively compete with the big banking networks and traditional currencies.
Their unique selling proposition is a feature that shows great promise and makes the company a natural market leader catering to those who most need cryptocurrency to solve real-world problems.
How Telcoin (TEL) Work?
Telcoin issued a total of 100 billion Telcoin (TEL) and it will be distributed to telcos at a rate of 5% annually for a period of 10 years following the ICO. That simply means they will offer TEL coin to their telecom partners as a part of the mobile money ecosystem, enabling easy cheap remittances and improving access to the global digital economy.
This strategy will build a win-win relationship with the telecom partners who will benefit from Telcoin as a market differentiator and contributor to increased mobile money adoption.
For any given mobile operator, the amount of free Telcoin it will receive each year will be based primarily on their Telcoin transaction volume. The more Telcoin that a network exchange with its subscribers, the more Telcoin issuance it will receive.
Once telecoms have been allowed to offer mobile money, and once cryptocurrency has been accepted as a taxable asset in the country, telecoms will be permitted to allow exchange with Telcoin.
What’s Telcoin (TEL) Potential?
According to World Economic Forum, the number of people worldwide that do not have access to bank accounts amounts to over two (2) billion. This number represents around 35% of our rapidly increasing population. What are the drawbacks of not having a bank account and what Telcoin is trying to solve?
- No international payments;
- Have to carry a large amount of cash on you;
- If you are robbed, everything can be stolen (financially);
- Ease of transactions is reduced; and
- Narrow investment avenues
Telcoin can see this problem, especially in the economically developing countries and they aim to use blockchain technology to solve this problem.
The payment processing industry is huge, with payment processors moving over $3.6 trillion per year. The largest processors are companies like VISA, Mastercard, Alipay and Wechat who each process billions each day. The problem with current payment companies is they operate in a centralized database model, they don’t communicate with each other.
A company owns a private database, which is a library of data, stocked on a computer or on many computers called servers. There are three problems with the traditional centralized database model:-
- Privacy; and
Hence, Telcoin has the potential to reach some two billion unbanked people. Using cryptocurrency, mobile phone subscribers in emerging and developing markets who do not have bank accounts can have better access to mobile money for transactions, such as remittances. The remittances market is ripe for disruption by the entry of telecom cryptocurrency.
Where to Buy Telcoin (TEL)?
At the time of writing, TEL is available at Kucoin, IDEX, and EtherDelta
How to Buy Telcoin (TEL)?
It is not possible to buy most cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, and Litecoin can be purchased with U.S. dollars using Coinbase. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Kucoin or Changelly to purchase other cryptocurrencies, including TEL.