Tecloin (TEL) is a cryptocurrency and blockchain network that wants to offer smart, instant and low-cost money transfers powered by distributed ledger technology. This project has been growing over the last months and it is now one of the top 200 in the cryptocurrency market.
Telcoin relies on the TEL native currency that works as a medium of exchange on this blockchain network. Moreover, it can also be used as a speculative asset (traders can use it to speculate with its price) or as a protocol token to engage in different initiatives promoted by the Telcoin ecosystem.
In the next sections, we are going to tell you how this cryptocurrency project works, what it offers to the community and why it is one of the most promising eco-systems in the cryptocurrency market. Finally, we will also share with you how to buy Telcoin and which exchanges are currently supporting this digital asset.
What is Telcoin?
Let’s start from the beginning: what is Telcoin? Telcoin or the Telcoin Platform is a decentralized financial ecosystem through which Telcoin users can have access to different financial solutions using their smartphones.
Smartphone usage expanded all over the world, not only in developed countries but also in regions with large disadvantages and social differences. This expansion of mobile networks is enabling people that didn’t have access to financial services, to get the latest and most innovative financial solutions just by using their smartphones.
Despite the expansion of telephone networks and cell phones, traditional financial solutions remain very expensive and unaffordable for most individuals in these regions. This is why Telcoin is pushing for a new way in which users can have access to new financial products that would be better than the solutions offered by traditional banking services.
With this in mind, Telcoin is working in order to provide financial access to smartphone users all around the world. The flagship product of this project is Telcoin Remittances. This is a low-cost and fast money transfer platform that lets users send and receive money using e-wallets. Thanks to engaging with a wide range of money transfer platforms and telecom companies, they are able to make payments convenient, affordable and secure.
One of the positive things about this project is that they are regulated in Singapore. The Monetary Authority of Singapore (MAS) considers Telcoin to be a Major Payment Institution. Furthermore, this project is also regulated in other countries, including Canada and Australia.
Instant and Cheap Transfers
The project lets users send and receive fast and cheap transactions. When using banks and other traditional financial solutions, payments can take several days to be processed. This is mostly true if the transfers have to cross borders (for example, workers that have to send remittances back to their home countries).
By using blockchain technology and the existing mobile infrastructure, Telcoin is able to provide fast and easy money transfers all over the world and in seconds. Moreover, everything is processed for a fraction of the fees of traditional financial solutions.
The company explains that if we include fees and FX margin, the global average cost of sending a remittance is over 7%. By using Telcoin, this cost is reduced to less than 2%. This shows how important it could be for people without access to financial services to use Telcoin and the TEL virtual currency.
Another important thing that is worth taking into consideration about Telcoin is how convenient it is to use it in different jurisdictions. Thanks to a large network of mobile operators and e-wallets, Telcoin is able to share and offer solutions to a broad base of users with a contactless service.
It doesn’t matter where they are as long as there is an internet network and a mobile connection. This is mostly possible thanks to cheap mobile plans that can be purchased by people anywhere around the world. This makes it possible for users not only to be communicated with but also to get financially connected to the rest of the world.
Furthermore, thanks to this mobile interoperability, Telcoin is able to provide financial solutions where before they did not exist. Hence, Telcoin is playing a very important role in making it possible for users to get access to financial services at very affordable rates.
Telcoin works on top of the Ethereum (ETH) blockchain network, one of the largest in the world (the largest after Bitcoin). This immutable blockchain network has been offering solutions to a wide range of projects over the last few years. Nowadays, it is the main blockchain to run smart contracts and for developers to launch their solutions.
At the same time, Telcoin combines the strength of a decentralized network with multi-signature crypto security. In this way, users can be sure that their information and funds are protected at all times.
Thanks to the expansion of this blockchain network over the last few months, we have seen several investors requesting information about Telcoin and its price. According to data shared by CoinMarketCap, Tecloin has experienced a very positive 2021 after several years in which the network was stagnant.
To understand Telcoin price and how it expanded over the last year, we need to make a summary of its performance since it was released to the market in 2018. Telcoin was released at a very difficult time for the cryptocurrency market. Indeed, TEL was launched in January 2018, when the bull market experienced by cryptocurrencies reached an end.
Let’s not forget that January 2018 was the month in which most altcoins peaked after Bitcoin’s all-time high at $20,000 in December 2017. Due to this reason, we saw TEL being launched at a relatively high price close to $0.01 per coin. This situation was not favourable to the ecosystem.
The coin entered a bear market that lasted until 2021. Indeed, this virtual currency reached an all-time low of $0.000065 per coin in march 2020, when the COVID-19 market crash affected not only traditional financial markets but also the cryptocurrency industry.
As we can see, there have been many investors that considered this project a dead initiative. Volume was also very low throughout 2018, 2019 and 2020. We see a different price-performance just in 2021 when the price of this virtual currency skyrocketed to unprecedented levels.
When 2021 started, we were all focused on Bitcoin and how it was possible for the largest cryptocurrency in the world not to push other digital assets to new all-time highs. Indeed, it was a Bitcoin rally, not a crypto rally. However, when Bitcoin hit the top in May 2021, things changed.
TEL was able to move from below $0.0008 to $0.06 in May 2021. This was a massive price increase that was mostly pushed by speculation. Indeed, most altcoins reached a top during the same period.
Since that moment, things have changed. The virtual currency entered a bear market that pushed the price of this coin to $0.01 in July. At that time, Bitcoin was also traded close to $35,000 from a peak of over $60,000. Now, TEL seems to be in an accumulation period being traded between $0.015 and $0.025.
How High Can Telcoin go?
It is now time to understand how high TEL can go. This TEL price prediction should not be considered investment advice. Indeed, it could reach new highs or simply go to $0 and disappear. This is for educational purposes only.
Telcoin could hit a new all-time high if Bitcoin moves towards $100,000 in the next few months. However, this would be highly unlikely as 2021 is ending and Bitcoin seems now controlled by bears.
It is also possible to think about Telcoin not being able to move as an independent project. The price action of this virtual currency was highly correlated to market movements rather than its own community or developments. Hence, Telcoin is expected to continue the path of the whole cryptocurrency market. If you are searching for uncorrelated virtual currencies, TEL might not be the ideal coin.
How to buy Telcoin?
There are some steps that you can follow if you want to buy Telcoin. This is a standard process that you can follow in most cryptocurrency exchanges. Take into consideration that some of these steps can change depending on the platform that you use.
Step 1 – Search for a Cryptocurrency Exchange
The first thing you should do if you want to buy Telcoin is to select a cryptocurrency exchange. These platforms are currently available worldwide and give you access to most virtual currencies in the market.
Depending on your region, you might find some cryptocurrency exchanges that are not available in other countries. You should also create an account on this platform. Usually, you will be requested an email account, a password and ID information to be compliant with KYC checks.
Step 2 – Fund your Account
As soon as you create your account, you will be able to deposit funds. In some exchanges, you will be able to deposit local fiat currency. Most of the exchanges in the market let you pay using a bank transfer or through debit and credit cards.
It is up to you to decide which payment method you use to fund your account. You will find that TEL might not be traded against your local fiat currency, this is why you should buy USDT or any other cryptocurrency that would let you buy TEL.
Step 3 – Buy Telcoin
Now it is time to buy TEL. Most cryptocurrency exchanges offer you two main ways to purchase this virtual currency. The easiest one is by placing a market order. You simply say how many TEL coins you want to buy and you execute the order.
The second way is by using a limit order. You select the price at which you want to purchase TEL. This order would get executed as soon as the price reaches your desired level. Take into consideration that this could take several days or your order might not get filled.
Where to buy Telcoin?
So where to buy Telcoin? There are several exchanges that are currently letting you buy TEL. The platform that you select would highly depend on your needs and the services that it offers. The most popular cryptocurrency exchanges offering support to TEL include HitBTC, Hotbit, Bitbns, Bitrue, Bybit and KuCoin.
If you have an account at any of these exchanges, you will be able to get access to Telcoin. KuCoin is by far the best exchange to buy Telcoin right now. Why? Because it has the highest volume. CoinMarketCap shows that KuCoin alone handles 75% of the total trading volume for this virtual currency.
At the moment KuCoin offers three different trading pairs for this digital asset: TEL/USDT, TEL/BTC and TEL/ETH. Most of the trading volume is concentrated in TEL/USDT. TEL/BTC and TEL/ETH on the KuCoin exchange represent 11% of the total trading volume of this virtual currency around the world.
Trading on recognized exchanges is very important as you are likely to avoid hackers and scammers. Moreover, there will be higher liquidity if you want to buy or sell large amounts of your coins.
Bybit is the second-largest cryptocurrency exchange letting you buy and sell TEL in a centralized way. This exchange handles 1.13% of the total trading volume of this digital asset. However, this platform is not as recognized as KuCoin or other exchanges.
Despite the fact that HitBTC is a popular cryptocurrency exchange, it only handles 0.08% of the total trading volume for this virtual currency, which is not something very positive for traders that speculate with the price of this virtual currency.
Nowadays, there are other types of cryptocurrency exchanges called decentralized exchanges (DEX). These DEXs do not have an order book and handle liquidity through different incentivization systems. However, these are not the best platforms to use if you are new to the cryptocurrency market or you do not know how these DEX work.
The best thing you can do is use traditional cryptocurrency exchanges. They would guide you throughout the whole buying process and would let you deposit fiat currencies. Decentralized exchanges are usually for investors and users that engage on different blockchain protocols and that search for new experiences in the crypto industry.
KuCoin and ByBit might be the best options right now if you want to buy Telcoin and other virtual currencies and make sure that everything works properly since you deposit funds until you withdraw your TEL to your crypto wallet.