In this article, we’ll examine Telcoin’s technology, study what makes it special, find out what price forecasters expect for the native cryptocurrency TEL, and consider whether you should put your money into it. But first, let’s define what Telcoin is.
What is Telcoin?
Telcoin is a decentralized financial platform which is based on the Ethereum blockchain. Founded in 2017 in Singapore by entrepreneur Paul Neuner and blockchain expert Claude Eguienta, Telcoin had a goal to “To provide every mobile phone user in the world with access to high quality, user-owned financial products”. Telcoin’s native cryptocurrency TEL is used in Telcoin’s ecosystem for making payments. So what exactly does Telcoin have to offer?
Telcoin’s goal might somewhat resemble Stellar’s or Ripple’s, though in their cases the focus is on traditional banking and financial systems, and Telcoin focuses on making a difference in the telecom industry. Moreover, if Stellar or Ripple’s goals can be seen as somewhat revolutionary, Telcoin, in its turn, wants to improve the existing business.
Telcoin operates as a remittance payment system, and it aims to make digital remittances (global money transfers to e-wallets) as cheap and affordable as possible. Traditional remittance companies, represented by such big names like Western Union or MoneyGram, take a lot of time and, more importantly, a lot of money for their services. By making money transfers as swift and cheap as possible, Telcoin plans to become a link between the world of crypto and the world of fiat money by partnering with telecom companies and mobile money platforms, and establishing remittance channels. You are not even required to have a bank account since all you need is your smartphone.
Currently, Telcoin App allows sending money from the USA and Canada to 16 countries with the help of mobile money platforms operating in those countries. Telcoin’s cryptocurrency TEL can be stored in pretty much every known wallet that allows storing ERC-20 tokens, such as TrustWallet, MyEtherWallet, Metamask, etc.
The app operates on Polygon Network, and the low fees is their prime accomplishment – only 2% or even less for sending and receiving fiat money, and 0.1% for sending and receiving cryptocurrencies. When comparing Telcoin’s fees to those of other remittance companies’, it is easy to see who has an advantage.
How does Telcoin work?
Telcoin platform is an official GSMA member of Mobile Network Operators (MNOs), and Mobile Money Service Providers (MMSPs). It uses Proof-of-Concept (PoC) approach, meaning that before validating any transaction, the blockchain verifies if a transaction has some real-world feasibility and also verifies if it will function as envisioned. Telcoin partners, in their turn, serve as validators on the network.
Telcoin platform utilizes the above mentioned cryptocurrency TEL as its native utility token and, according to Telcoin company, it “functions as the native medium of exchange, reserve, and protocol asset of the platform, with both productive and consumptive utilities for market participants across each layer”.
As for Telcoin’s app itself, it uses decentralized TELx liquidity pools to send and receive digital assets and also uses a multi-signature cryptography consisting of three keys: the one that goes to Telcoin, another one goes to the operator, and the third one goes to the user. This multi-signature security has its own advantage: since it requires at least two encrypted keys to send and sign a transaction, in case one of the keys is lost or stolen, the funds in the wallet remain safe. Thus, Telcoin’s security system protects its users’ money even if their phone is compromised.
After signing in to the Telcoin app, users can send money to other people by choosing their preferred wallet, entering the recipient’s name and mobile number, and then confirming the transaction.
It is worth noting that apart from remittances, the Telcoin app also has a built-in TELxchange, a decentralized digital asset exchange that uses TEL as the reserve asset and medium of exchange, and it runs on the Quickswap DeFi protocol.
Telcoin TEL price forecast 2022-2025
At the time of writing (07.07.22), TEL’s price is equal to $0.0014 per coin.
According to Coin Price Forecast, the price of TEL will be $0.0027 by the end of 2022. By the middle of 2023, TEL might reach $0.0032 per coin, and by the second half of the year, we might witness it reaching a $0.0033 level.
By the end of 2024 and 2025, the growth is expected to continue, and TEL may cost $0.0036 by the end of 2024, and $0.0042 by the end of 2025. By far, this is one of the most bullish forecasts for TEL among experts.
Wallet Investor, in their turn, are less bullish on TEL’s future price. The average price of TEL is expected to be $0.00023 by the end of 2022. After that it is expected that TEL will slowly lose its position, and by mid-2023, TEL might reach a $0.00018 level, and then fluctuate until the end of 2023, and by the end of the year it is expected to return to the price of $0.00018 per token.
Wallet Investor’s experts believe that in 2024, TEL will continue to lose its strength and by mid 2024 it is expected that its average price will be $0.00011 per token, and continue to fluctuate throughout the year. By the end of 2024, TEL might grow up a bit and cost around $0.00017.
The first half of 2025 will not be different from the whole year of 2024, however by the mid year, TEL might grow in price and cost around $0.00025 per token. Further in the year, TEL will experience some minor ups and downs, and by the end of 2025 it will strengthen its position up to $0.00036 per token.
Digital Coin Price, just like Coin Price Forecast, is also optimistic regarding TEL’s future price. In 2022, we can expect TEL to cost around $0,0019. In 2023, TEL’s price might hit a $0.0021 level. The next year TEL’s price might not gain or lose much, and its average price is expected to remain at the level of $0.0021. However, in 2025 we might see TEL’s price reach $0.00284 per token.
The overall trend for TEL in the following years will still remain bullish, up until 2031, according to the Digital Coin Price forecast.
Telcoin TEL price forecast 2030
It is always hard to make such a long-term prediction, especially when we are talking about such volatile assets like crypto. Still, some of the experts go that far and still try to predict the TEL price for such a long term.
For instance, Coin Price Forecasts predicts TEL’s price to be $0.0063 by mid 2030 and $0.0066 by the end of the year.
According to the forecast from Price Prediction, Telcoin TEL will start 2030 with a price of 0.036 per token. Throughout the year, TEL is expected to grow in price, and by mid 2030 it might reach a $0.043 level. By the end of the year, TEL will cost $0.051.
The forecast provided by Tech News Leader is probably the most bullish one. By the beginning of 2030, TEL is expected to cost $0.043 per token. By the middle of 2030, the price of TEL may increase and could reach $0.051. Until the end of 2030, TEL is expected to continue to strengthen its position and cost $0.062 by December 2030. In case we’ll see a bull run in 2030, TEL’s price may even cross a $0.071 level.
Should you invest in Telcoin TEL?
Some of the experts believe that Telcoin’s future is yet to come, and it hasn’t gained as much attention as it should. For instance, crypto analyst Mikhail Karkhalev believes that mobile money transfers “are very promising, especially for the blockchain industry, where there are very few telecom-focused projects.” However, Telcoin might face several drawbacks in their attempt to make the remittance market more accessible and better functioning.
Karkhalev thinks that one of the major drawbacks might appear when Telcoin partners with major telecom operators, since then the TEL platform and TEL token might become centralized, and that can bring along changes in pricing as well as customer service policies.
Another issue that Telcoin might face is that the telecom industry is usually close with the government and particularly with defense industries. That means, even with blockchain technology, the platform and its apps might face tight regulations.
Still, Telcoin offers a real-life use case, something truly unique and something that might interest people. It might be a good idea for investors to keep an eye on TEL and its token since the telecom market is expected to grow and expand in the future.
Moreover, it is probably safe to say that Telcoin hasn’t reached its full potential yet, and we can expect it to gain wider adoption by mobile network operators in the future. All that means that adding a TEL token into your portfolio might be a wise decision.
Trade Telcoin with TradeSanta robots
If you want to start trading Telcoin but are still considering your options, try TradeSanta! Our cutting-edge automated trading tool will help you to dive deep into crypto trading smoothly and easily.
TradeSanta already offers a number of features that can assist both novices and experienced traders in their trading routines, including risk management tools, TradingView signals, grid and DCA bots, demo trading for testing strategies, a copy trade marketplace, and more to come in the near future.
If you don’t know which settings to use when setting up your bot, you can always follow experienced traders and copy their bots based on performance on our free marketplace.
TradeSanta also has a trading terminal that can be used in case you wish to place manual orders. This feature can be especially helpful if you simultaneously run trades on several exchanges and you want to place all orders in one place instead of opening each exchange separately.
All you need to do is to connect your exchange account via API and then choose a trading pair and set up a strategy. After a crypto trading bot is connected to your exchange, it starts to monitor the market and open and close deals according to the parameters of the strategy you set when the market conditions meet the requirements, and all that means that the bot trades on your behalf!
What is Telcoin?
Telcoin is a decentralized financial platform which is based on the Ethereum blockchain. Telcoin operates as a remittance payment system, and it aims to make digital remittances (global money transfers to e-wallets) as cheap and affordable as possible.
What kind of security does Telcoin app use?
Telcoin app uses a multi-signature cryptosecurity consisting of three keys: the one that goes to Telcoin, another one goes to the operator and the third one goes to the user. This multi-signature security has its own advantage – since it requires at least two encrypted keys to send and sign a transaction, in case one of the keys is lost or stolen, the funds in the wallet remain safe. Thus, Telcoin’s security system protects its users’ money even if their phone is compromised.
Is Telcoin a good investment?
Some of the experts believe that Telcoin’s future is yet to come, and it hasn’t gained as much attention as it should. For instance, crypto analyst Mikhail Karkhalev believes that mobile money transfers “are very promising especially for the blockchain industry, where there are very few telecom-focused projects”.