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What is Telcoin (TEL) and how does it work?

by Financial Economy

Telcoin is a decentralized Singapore-based project created in 2017 to bridge the gap between ethereum-based cryptocurrencies and the telecommunications industry. TEL Coin is the native ERC-20 native token of the ecosystem used to make payments. Detailed information about what Telcoin TEL is and how does it work can be found in the continuation of the content. For information about Hedera Hashgraph (HBAR) coin, you can check here.

What is Telcoin (TEL) and how does it work?

Telcoin’s focus is money transfer. There are more than 5 times the number of bank accounts in the world. By using this, Telcoin aims to be a serious alternative to costly and old-school money transfer methods such as Western Union. Telcoin tries to enable its users to transfer money to anywhere in the world within seconds by using mobile money infrastructure and blockchain technology. Telcoin works with mobile operators and e-wallets to reach a wider audience than other crypto currencies.

While the average global cost of sending money is 7%, Telcoin aims to reduce it to 2%. Users can transfer money with Telcoin wallet by simply entering the phone number and country. Total and maximum supply of TEL Coin is 100 billion and its circulating supply is currently around 51 billion units. As of today (12.06.2001), the value of 1 Telcoin (TEL) is around $0.028681.

The question of how Telcoin works is wondered by many investors. The answer to this question is explained as follows: The company follows a model in which it distributes its own coin to mobile networks according to a highly incentivized model. For starters, Telcoin tokens will be distributed to telcoin at a rate of 5% per year for a 10-year period following the ICO. This phase will be treated as the integration period and will allow the currency to enter the mobile market slowly.

How to buy Telcoin (TEL)?

The questions of where and how to buy Telcoin are also among the questions that are curious. Telcoin (TEL) can be purchased on some reliable and well-known crypto currency exchanges.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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