Investing.com UK - Financial Markets Worldwide
🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

What is Telcoin and Why Did it Increase 43,000% in 2021?

ByBeInCrypto
AuthorFernando Fierro
Published 21/06/2021, 07:54
T
-
VZ
-
WU
-
ETH/USD
-
TEL/USD
-

Today's video is dedicated to Telcoin - a crypto that hasn't managed to break into the top of the crypto charts but it did get a lot of attention on social media and seems to have a large and growing following.

Telcoin is an Ethereum-based crypto established in July 2017 in Singapore to become the connecting point between crypto, blockchain, and the telecom industry.

The project aims to partner with leading names in the telecom industry in the US and globally and scale through their reach. Names like Verizon (NYSE:VZ) and AT&T (NYSE:T) have been mentioned as platforms through which the hassle that exists between billing platforms and mobile money can be removed.

The primary focus are remittance markets. While there are almost five mobile phones to a bank account in existence, people still queue up to send money from high-cost remittance agents, with Western Union (NYSE:WU) being the largest.

Leveraging the power of blockchain, Telcoin is bringing people in the developing world a faster, low-cost alternative to remittance services.

Telecom operators that connect to the Telcoin network are immediately able to issue TEL tokens. The network gives incentives; the more the TEL token traffic an operator has, the more incentives he gets from the network.

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.