Convert TEL to SGD

Telcoin (TEL) is a pioneering cryptocurrency project designed to bridge the gap between the telecom and decentralised finance (DeFi) sectors, aiming to provide fast, low-cost financial services to mobile users globally.

Key takeaways

• Telcoin (TEL) is a utility token powering a platform that integrates mobile telecom networks with decentralised financial services.
• It operates primarily on the Polygon network, leveraging its speed and low transaction costs for efficient remittances and payments.
• The project's unique value lies in its partnerships with telecom operators, using their infrastructure for user verification and onboarding.
• TEL is used for paying transaction fees, governance, staking for rewards, and accessing various financial products within the Telcoin ecosystem.
• You can trade TEL on major exchanges like BTCC via the TEL/USDT spot or perpetual TEL/USDT contract markets.

What is Telcoin? Key Specifications & Tokenomics

Telcoin is a blockchain-based platform that aims to make sending money as easy as sending a text message by partnering directly with mobile network operators.

Who created Telcoin (TEL)?

Telcoin was founded in 2017 by a team led by Paul Neuner, who serves as the CEO. Neuner, a veteran in the telecom industry, envisioned leveraging blockchain technology to disrupt the traditional remittance market. The project's core thesis is that telecom operators, with their vast existing user bases and regulatory relationships, are ideally positioned to drive cryptocurrency adoption for everyday financial services. The development team comprises experts from both the telecommunications and blockchain sectors, focusing on building compliant and user-friendly financial products that integrate seamlessly with mobile services.

How does Telcoin (TEL) work?

The Telcoin platform operates by creating a direct link between mobile wallets and decentralised finance protocols. Its architecture is built on the Polygon network, chosen for its low fees and high transaction throughput, which are critical for remittance use cases.

• Telecom Integration: A key differentiator is its use of a Proof-of-Authority (PoA) sidechain or validator set involving partnered telecom operators. These nodes can perform secure, compliant Know-Your-Customer (KYC) checks using existing mobile subscriber data, drastically simplifying user onboarding.
• The TEL Token: The native TEL token acts as the fuel for the ecosystem. It is used to pay for transaction fees, participate in governance votes, and stake to earn rewards.
• Telcoin App: The user-facing product is the Telcoin application, which allows users to buy, send, receive, and convert cryptocurrencies, as well as access savings and lending products, all linked to their mobile number.

What makes Telcoin (TEL) unique and valuable?

Telcoin's primary innovation is its strategic focus on partnering with mobile network operators (MNOs) rather than competing with them.

• Regulatory Compliance & Reach: By working with licensed telecoms, Telcoin can navigate complex financial regulations more effectively and instantly tap into their massive, global customer base—many of whom are unbanked or underbanked.
• Simplified User Experience: It allows users to access DeFi services using just their phone number, removing typical crypto hurdles like managing private keys or complex wallet addresses for basic transactions.
• Competitive Remittances: The platform is designed to offer international money transfers that are significantly faster and cheaper than traditional services like Western Union or bank wires, directly targeting a multi-billion dollar market.

What is Telcoin (TEL) used for?

The TEL token has several core utilities within its growing ecosystem:

• Transaction Fees: Users pay fees for services like remittances and swaps within the Telcoin app using TEL.
• Governance: TEL holders can participate in community governance, voting on proposals that shape the platform's future development and treasury management.
• Staking & Rewards: Users can stake their TEL tokens to earn a share of the platform's revenue, providing a yield-generating opportunity.
• Access to Services: Holding or using TEL may provide access to enhanced features, better rates, or exclusive financial products within the Telcoin application.

How Is the Telcoin (TEL) Ecosystem Developing?

The Telcoin ecosystem is centred on the continuous development of its mobile application and expansion of its telecom partnerships.

• Product Suite: The app has evolved from simple send/receive functions to include a self-custody wallet, fiat on-ramps, cryptocurrency swaps, and integrated DeFi products like the "Telcoin Earn" savings feature.
• Global Expansion: The team actively pursues partnerships with telecom operators in key remittance corridors, particularly in Southeast Asia, Africa, and North America, to increase its service coverage.
• DeFi Integrations: By building on Polygon, the ecosystem can seamlessly connect with other DeFi protocols, allowing for future composability and more advanced financial services for end-users.

How to mine Telcoin (TEL)?

Telcoin (TEL) is not a mineable cryptocurrency. It was initially distributed through a public sale and subsequent ecosystem allocations. Since it operates as an ERC-20 token on the Polygon network, which uses a Proof-of-Stake consensus mechanism, new TEL tokens are not created through computational mining. The total supply is fixed at 100 billion tokens. The primary ways to acquire TEL are through participating in its ecosystem (e.g., providing liquidity) or purchasing it on supported cryptocurrency exchanges like BTCC.

How to keep your TEL Coin safe?

As an ERC-20 token on Polygon, storing TEL securely requires managing your private keys effectively.

• Hardware Wallets (Most Secure): For long-term storage of significant amounts, use a hardware wallet like Ledger or Trezor. These devices keep your private keys offline, providing robust protection against online threats.
• Software Wallets: For more active use, consider reputable non-custodial wallets that support the Polygon network, such as MetaMask or Trust Wallet. Always ensure you are downloading the official app from legitimate sources.
• Exchange Wallets: While convenient for trading, leaving large holdings on any exchange, including BTCC, is not recommended for long-term security. Use exchange wallets primarily for active trading purposes.

How to buy TEL Coin?

TEL is a listed cryptocurrency available on several exchanges. However, it is recommended to trade on a major platform like BTCC exchange for higher liquidity and better customer support.

1. Register a BTCC Account: Sign up using your email or mobile number and complete the KYC verification to unlock more features and benefits of the platform.
2. Deposit Funds: Deposit fiat currency (via bank transfer, card, or third-party payment) or transfer USDT from an external wallet into your BTCC account. You can follow this guide.
3. Start Trading: Go to the trading page and search for the spot trading pair TEL/USDT or the perpetual contract TEL/USDT.
4. Place an Order: Enter the amount of TEL you wish to purchase and submit the order. For contract trading, you can also choose to go short (sell) and adjust the leverage multiplier according to your strategy and risk tolerance.
5. Confirm Your Purchase: For spot purchases, check your personal account to see if the coins have arrived. For contract trades, check the trading page to see if your order was filled successfully.