Telcoin (TEL) is an ERC-20 token built for use on the Ethereum blockchain. It’s designed to function as a mobile payment option. Using blockchain in this context helps enable a decentralized and borderless transfer method, which can be quicker than most conventional transfer services. It also aims to be easier to reach than traditional banking systems in certain regions, since many places may have more active smartphones than bank accounts. Rather than trying to replace existing payment providers, the project positions itself as a complementary solution. Through collaboration with telecom operators, Telcoin is intended to become a recognized part of the global financial ecosystem. 

The project came to life in 2017, and its legal entity (Telcoin Pte. Ltd) was formed in Singapore, though the company is now headquartered in Japan. It was founded by Paul Neuner and Claude Eguienta. Since then, Telcoin has partnered with multiple telecommunication companies and is now part of GSMA. The business approach was set early: to work with telecom operators worldwide to enable sending money via mobile devices. A large portion of the Telcoin platform depends on the Telcoin smartphone app (available on both Google Play and App Store), which serves as a cryptocurrency wallet and supports efficient money transfers. The app receives ongoing updates, with new features added regularly. TEL is also compatible with any ERC-20 compatible wallet.

What are TEL’s key features and how does it work?

While most cryptocurrencies try to replace traditional banking, Telcoin concentrates on fast mobile payments that users can send to each other-similar in concept to services such as Venmo and Western Union. By using a blockchain-based approach, the solution can deliver quicker processing and reduced transaction fees, both of which matter for this kind of use case. The Telcoin platform doesn’t aim to displace payment providers; instead, it works as a connection point between fiat and blockchain. 

TEL transfers can be made straight between two accounts through private keys to help secure transactions. A multi-signature setup is available, though configuring it is left to users. The system doesn’t rely on validators in the usual sense, using a proof-of-concept approach for each transaction. That said, telecom providers with Telcoin integration can operate like validators. For these services, providers receive TEL token rewards. The more advanced the integration, the larger the rewards, and the incentive also scales with transaction volume. This is intended to encourage provider and service adoption while allowing operators to earn through integration without raising fees. 

Other noteworthy features of the cryptocurrency:

·  Being mobile-friendly.

·  Security. 

·  API integration (very useful for adding TEL to the list of the currencies supported by providers)

·  Wide support of wallets: apart from the original app, the TEL is supported by any ERC-20-compatible wallet.

Where can you buy TEL?

Telcoin (TEL) tokens can be purchased on a range of platforms. The list includes: KuCoin, Quickswap, Balancer, Uniswap, and 1inch Exchange. They can be traded for stablecoins (USDT), for cryptocurrencies such as BTC, ETH, TRX, and at times for fiat. 

How can you store TEL?

Telcoin provides its namesake mobile app for both Android and iOS. The application primarily functions as a wallet. TEL can be stored in any ERC-20 compatible wallet. This flexibility helps make the asset easier to use and may support wider adoption.  

Transactions

Because Telcoin uses the Ethereum blockchain, Ethereum’s throughput largely influences transaction speed. Some users report that average transaction times are on the order of a few minutes, which can be faster than many mobile payment solutions. 

Mining

TEL tokens are not minable. However, liquidity mining is available, letting users earn fees by staking their crypto assets.