Telecoin: A Worthy Investment Or Risky Gamble?

Telcoin (TEL) is a decentralised cryptocurrency and remittance payment system established in Singapore in July 2017. It aims to streamline global money remittance by integrating blockchain and the telecommunication industry. Telcoin has increased 43,000% since the beginning of 2021 and is garnering a lot of attention on social media. However, it has not broken into the top of the crypto charts. So, is it a good investment?

Telcoin's mission and long-term strategy

Telcoin's mission is to become the primary currency used by telecom providers to offer money transfer services to clients. It aims to streamline global money remittance by integrating blockchain and the telecommunication industry. Telcoin wants to be a useful service that helps people without bank accounts transfer money globally efficiently.

Telcoin was founded in 2017 in Singapore by Paul Neuner and Claude Eguienta. It is an Ethereum-based cryptocurrency striving to become the connecting point between crypto, blockchain, and the telecom industry. The project aims to partner with leading names in the telecom industry and scale through their reach. For instance, it hopes to remove the hassle between mobile money and billing platforms for names like Verizon and AT&T.

Telcoin's long-term strategy is to focus on the remittance market, where Western Union is currently the number one player. That's part of the reason they are partnering with global telecoms and mobile money platforms. They are a natural choice to provide high-speed, low-cost digital remittances to mobile money platforms and e-wallets. Telcoin leverages the existing mobile payments infrastructure to provide lower fees and a more efficient user experience to the market.

Telcoin's goal is to make remittances a whole lot easier and cheaper. It wants to disrupt the remittance market, which is currently dominated by large centralized providers such as Western Union and MoneyGram. Telcoin is working on getting its fees below 2%, compared to the global average of 7% for most providers. With its iPhone and Android app, Telcoin crypto hopes to make it easier for people to send remittances right from their phones.

Telcoin's recent price history

Telcoin's price history has been volatile, with erratic and fluctuating behaviour since its launch in 2017. In its first year, the TEL token started at $0.0003 and gradually increased to $0.004 by the end of 2018. However, by the end of March 2020, the price had dropped to $0.00008. Telcoin then saw a significant recovery, and by May 2021, it had reached its all-time high of $0.059.

Since then, the price has been on a downward trend, falling below $0.0015 in mid-2022. Telcoin has been trading within a range of $0.0012 to $0.0031 since June 2022. The beginning of 2024 saw Telcoin trading under bearish pressure, with a gradual decline over the past few months. As of August 2024, the price of Telcoin is around $0.0015, with a 24-hour trading volume of $415,412 to $674,740. The current market cap is approximately $133 million to $154 million.

Telcoin's price performance in 2024 has been negative, with a decline of -3.50% in the last 7 days, underperforming the global cryptocurrency market and similar Polygon Ecosystem cryptocurrencies. The Relative Strength Index (RSI) momentum oscillator indicates a neutral position for the TEL market.

Looking ahead, there are varying predictions for Telcoin's price. Some analysts predict that the price will continue to decline in the short term, reaching $0.00269 by the end of December 2024. Others are more bullish, anticipating that Telcoin will pass the $0.00409 mark by the end of the year and potentially break its previous all-time high of $0.0649.

In the longer term, market analysts and experts predict that Telcoin's price will increase. By 2026, the price is expected to trade around $0.00674, and by 2027, it could double in price, potentially reaching a maximum of $0.00854. The upward trend is expected to continue, with Telcoin predicted to reach $0.015 by 2030 and $0.0363 by 2033.

Telcoin's security and transparency

Telcoin leverages the full security of the Ethereum blockchain, which is currently the second-largest Proof-of-Work (PoW) network in the world. Ethereum will soon convert to a Proof-of-Stake (PoS) network, which will provide the network with more scalability and added features. This added scalability will provide Telcoin with more performance and a higher tps (transactions per second) rate.

Telcoin integrates advanced security features such as multi-signature and API protocols. The network interacts directly with carrier billing and mobile money platforms through REST APIs, SMS, and USSD. The use of APIs simplifies the integration of Telcoin into mobile networks. Providers don't need to make any hardware adjustments. Integrating Telcoin is similar to adding a new supplier to their platform. In this way, the network operates as a valuable on-ramp to the decentralized markets.

Telcoin is available on both Apple and Google devices as a free download. It takes seconds to install. From there, it's cash-in, enter the beneficiary country, phone number, amount, and send.

Telcoin was also instrumental in helping Nebraska sign Legislative Bill 649 into law. Introduced by Senator Mike Flood, the Nebraska Financial Innovation Act creates a new state bank charter for digital asset depository institutions. The banks would offer the same type of service as Avanti bank, a Wyoming-approved special-purpose depository institution (SPDI). This legislation creates a new state banking charter for digital asset depository institutions. The charter is the first of its kind to be shaped around consumers and how they connect to decentralized finance.

Telcoin's competition and market share

Telcoin (TEL) is an Ethereum-based cryptocurrency that aims to bridge the gap between crypto, blockchain, and the telecom industry. It was established in Singapore in July 2017 by Paul Neuner and Claude Eguienta, with the goal of helping users transfer money globally efficiently. While Telcoin has not broken into the top of the crypto charts, it has seen a significant increase in value since the beginning of 2021, and it is gaining attention on social media.

In terms of competition and market share, it appears that Telcoin has a unique value proposition and faces little direct competition. On a Reddit thread discussing Telcoin's biggest competitors, some users mentioned coins like XLM and XRP as potential competitors, but they also acknowledged that Telcoin's focus on legal compliance and growth sets it apart. One user even stated that Telcoin has no real competitors, as no other coin does exactly what Telcoin does, and Telcoin is the most compliant cryptocurrency in the market.

However, in the broader context of the remittance market, Western Union is the dominant player. Telcoin aims to disrupt this market by providing a faster and more affordable alternative, particularly for people in the developing world who may not have access to traditional banking services. By partnering with global telecoms and mobile money platforms, Telcoin can leverage blockchain technology to offer high-speed, low-cost digital remittance services.

While Telcoin has a unique value proposition and appears to have a growing user base, it is important to consider the risks associated with any investment, especially in the volatile cryptocurrency market. As of September 2024, WalletInvestor.com predicts that Telcoin is a "bad, high-risk 1-year investment option" and that the price may drop further. Their analysis suggests that TEL is not a good investment for making money and that investors should look for other projects.

Telcoin's future growth potential

• Addressing a Real-World Problem: Telcoin aims to streamline global money remittances by integrating blockchain and the telecommunication industry. With five times more mobile phones than active bank accounts globally, Telcoin has the potential to revolutionize how people send and receive money, especially in regions with limited financial infrastructure.
• Decentralized Remittance System: As a decentralized cryptocurrency and remittance payment system, Telcoin offers transparency, responsiveness, and ease of use. It eliminates technical barriers by being available on Apple and Google devices, enabling users to transfer money effortlessly.
• Reduced Fees and Faster Transactions: Telcoin leverages blockchain technology to provide near-instant money transfers worldwide. By removing intermediaries from the remittance process, Telcoin significantly reduces fees for users. While the global average fee is around 7%, Telcoin aims to keep its fees below 2%, making it a more affordable option.
• Ethereum Blockchain Security: Telcoin utilizes the Ethereum blockchain, which provides enhanced security features such as multi-signature and API protocols. As Ethereum transitions to a Proof-of-Stake network, Telcoin will benefit from increased scalability and added features, improving its performance and transaction speed.
• Strategic Partnerships: Telcoin has secured multiple strategic partnerships, including GSMA, Telin, paga, Gcash, unipagos, and VIMO. These partnerships will help expand its reach and integrate with existing mobile money platforms.
• Legislative Advances: Telcoin has been instrumental in advancing legislation, such as the Nebraska Financial Innovation Act, which creates a new state bank charter for digital asset depository institutions. This enables the integration of crypto and decentralized finance into the remittance sector, providing a safer and more compliant framework.
• Growing Adoption: Telcoin has been listed on popular decentralized exchanges like QuickSwap, and its value has seen significant growth. With increasing adoption and recognition, Telcoin has the potential to become a widely-used remittance solution.
• Long-Term Vision: Telcoin's team has a long-term vision, and their persistence seems to be paying off. Despite not being a significant beneficiary of crypto booms, their focus on their mission has resulted in a 30,000% year-to-date value increase in 2022.

While there are risks and challenges associated with any investment, Telcoin's future growth potential looks promising. Its ability to address a real-world problem, leverage blockchain technology, and reduce fees in the remittance sector makes it a compelling investment opportunity. However, it is always essential to conduct thorough research and understand the risks before investing in any cryptocurrency or financial asset.

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