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Chamath Palihapitiya, a long-time Facebook executive, during a Q&A at TechCrunch Disrupt NY in 2013, said, "I personally own Bitcoin in my hedge fund, I own Bitcoin in my private account. It is a huge, huge deal." Over the years, several personalities have shared similar sentiments on Bitcoin and cryptocurrencies in general. Just recently, Apple CEO Tim Cook, at the DealBook conference, revealed that he owns cryptocurrency, further enforcing the popular opinion that crypto is a must-have investment in this century.
Any crypto investor who knows their onions knows that diversifying their portfolio is essential to making it in this space. Aside from diversifying your portfolio by holding different altcoins that have made a name for themselves, it would be best if you further diversified your portfolio by investing a small percentage in up-and-coming coins that have good fundamentals. By finding the right unpopular coin early and being part of its early investors, you can significantly increase your ROI.
This article will look at Telcoin, a peer-to-peer payment system looking to disrupt existing remittance systems. Although the project does not dominate the crypto space like Bitcoin and Ethereum, it has been around long enough to establish itself as a force to reckon with in the crypto space. At the end of this piece, you’ll be able to decide whether Telcoin is a good investment for you or not.
What is Telcoin?
Telcoin is a peer-to-peer payment system that leverages blockchain technology and mobile money infrastructure to enable users to send money instantly anywhere in the world. The native token used in the platform is also called Telcoin (TEL) and has a max supply of 100,000,000,000.
Telcoin partners with telecom operators globally to enable them to deliver swift and affordable remittance services to their subscribers. Telcoin's goal is to facilitate transactions that take a few seconds while offering these at a low cost of 2% per transaction. As it stands, the global average cost of sending a remittance is over 7%.
The Team Behind Telcoin
What makes or breaks a crypto project is the team behind it. Essentially, the success of a project hinges on whether the team behind it can deliver what the project wants to accomplish. Telcoin boasts of a solid team with years of expertise and insider industry know-how.
Claude Eguienta and Paul Neuner founded Telcoin in July 2017. Eguienta has a master's degree in computer science, and a background working in startups and tech companies focused on distributed systems and crypto.
On the other hand, Neuner has built a career in telecom tech for over 20 years. He is the founder of a mobile telecom fraud management company known as Mobius. Although Eguienta is no longer part of the Telcoin project since he left, Neuner still participates actively in the project and is currently the CEO.
About The Telcoin (TEL) Token
Telcoin (TEL) token is the fuel that powers the Telcoin ecosystem. It is an ERC-20 token on the Ethereum network. TEL has a max supply of 100 billion, out of which about 55.03 billion is currently in circulation. Investors got 25% of the token when the project launched, while the Telcoin team held 15%, and 5% went to a liquidity fund. As of writing this article, TEL has a market capitalization of over $800 million and ranks #124 on CoinMarketCap.
Telcoin V3
In June 2021, Telcoin launched the "V3" or 3rd version of the platform. The update introduced two user-owned financial products:
- Send Money Smarter (SMS) Network: This decentralized international money transfer platform allows Telcoin remittance senders to capture fees exclusively awarded to legacy financial institutions.
- TELxchange: This decentralized digital asset exchange network uses TEL as a reserve asset and medium of exchange.
By introducing more services, Telcoin V3 increased the use case of the TEL token, and with increased utility comes increased demand and investment potential.
The Telcoin Journey So Far
Telcoin has been around since 2017; therefore, it is not a project existing on hype. It is an established player in the crypto space with a product already live in the market and used by many people in various parts of the world.
The Monetary Authority of Singapore regulates Telcoin as a Major Payment Institution in Singapore, and the project is also registered and regulated in other countries, including Canada and Australia. As of February 2018, Telcoin became an associate member of the GSMA, a global organization unifying the mobile ecosystem.
The Future of Telcoin
With the launch of Telcoin V3, the future looks promising for Telcoin. It is needless to say that the team behind the project is working hard to improve and expand its offerings. As of June 2021, they expanded their services to 23 mobile money platforms in 16 different countries. With a good use case and steady expansion globally, there is no telling that the coin will maintain a bullish trend in the future.
Expert Predictions
Most experts are bullish on their price predictions for Telcoin.
In the long term, a price prediction site, Wallet Investor, forecasts that the price of Telcoin will go up to $0.138 in the coming years. With the current price at $0.0148, over 600% ROI for investors that jump in now.
In the short term, Tradingbeasts, another price prediction site, forecasts that 2021 will end with the price of Telcoin at $0.020, which is over a 30% increase from its current price.
Final Words Regarding Telcoin
With over 6 billion mobile phone users and growing, Telecoin has a large customer base. By partnering with the telecoms industry to provide fast, convenient, secure, and cheap decentralized financial services on any mobile device, Telcoin excellently positions itself to disrupt existing remittance systems.
Generally, the positive sentiment toward TEL suggests an upward trend in the future. Though, you must bear in mind that there is no guarantee that things will go as predicted. Since we are not financial advisors, we cannot decide whether you should invest or not. However, with the information contained in this article, we believe by now you can determine whether Telcoin is a good investment or not.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.