How To Buy Telcoin

How To Buy Telcoin

To simplify purchasing of Telcoin, search for an exchange that supports both cryptocurrency and fiat.

Here is a summary of how to buy Telcoin:

Step 1: Open an Account

Open an account with an exchange that supports Telcoin. Most exchanges will require you to have proof of I.D., a phone number, and an email address to register. 

Steps on how to buy Telcoin using specific exchanges are covered in this article.

Step 2: Deposit Funds into Your Account

Fund your account with a debit or credit card, a bank transfer, or directly deposit cryptocurrency from a crypto wallet to purchase Telcoin.

Step 3: Buy Telcoin

Finalize your Telcoin purchase and then settle for the best wallet to store your Telcoin.

How to Buy Telcoin on Coinbase

Step 1: Download the Coinbase Wallet

It would be best to have a self-custody wallet, such as Coinbase, to purchase Telcoin. Coinbase wallet is available as a browser extension or a mobile app.

Step 2: Select a Coinbase Wallet Username

You will need to choose a username as part of the configuration process of your Coinbase Wallet. Your username allows other Coinbase Wallet users to transfer to your crypto easily. You will need your username to access your account. Be keen to keep it private.

Step 3: Store your recovery phrase securely

Once you have created your new self-custody wallet, you will be given a recovery phrase made up of 12 random words. This phrase is the key to your crypto. This implies that anyone with your recovery phrase can access your crypto. As such, avoid sharing your recovery phrase with anyone.

You may consider writing your recovery phrase down on paper and keeping it secure. Also, you can use the cloud backup feature for Coinbase Wallet. If you lose your recovery phase, Coinbase cannot help you access your wallet.

Step 4: Plan for Ethereum network fees

The fees keep changing depending on how busy the network is, how fast you would like the transaction completed, and how complicated the transaction is. Set aside some money for fees. You can learn more about Ethereum fees here.

Step 5: Buy and transfer Ethereum to your Coinbase Wallet

If you do not have a Coinbase account, you will need to create one to purchase Ethereum (ETH). Learn how to create a Coinbase account and purchase Ethereum (ETH) here.

How you transfer Ethereum to your Coinbase Wallet varies depending on if you are using the Chrome extension or the mobile app. See detailed guide here.

Step 6: Use your Ethereum to purchase Telcoin in the trade tab

If you are using Coinbase Wallet on your mobile phone, you can buy Telcoin right

Tap on the blue circular button, then click on the “Trade” tab, where you can swap ETH for tokens that operate on the Ethereum standard (known as “ERC-20 tokens”).

Select “choose coin” and choose Telcoin. Input the amount of ETH you would like to exchange for Telcoin. Remember to factor in the transaction fees.

Confirm your purchase and follow the guide on the screen to finalize.

If you are using the Coinbase Wallet extension, select the “Convert” button. Search for Telcoin and insert the amount of Ethereum you would like to exchange for Telcoin. Remember to factor in the transaction fees.

Confirm your purchase and follow the guide on the screen to finalize.

Factors to Consider when Purchasing Telcoin

If you are considering purchasing any Telcoin, here are some of the factors that you should bear in mind first:

In 2021, Telcoin underwent a significant change in its platform. Two new applications were introduced, and the protocol was fully decentralized. How these new updates are integrated and assimilated will be essential to the success of Telcoin in days to come.

Claude Eguienta and Paul Neuner established Telcoin. Neuner has been linked with the telecom industry for over a decade and has initially worked as a tech entrepreneur, founding companies such as Sedona, Ikou, and Pangea K.K.

Eguienta, on the other hand, has an M.S. degree in computer science and is mainly focused on the development aspect of things – particularly in the distribution systems. 

Telecom operators who use the platform are given the power to issue TEL coins. According to the company’s website, these tokens can be used to distribute various rewards. Individuals can even utilize them to get substantial discounts (associated with reduced transfer fees, etc.)

Because it is entirely decentralized, users can access their funds at any moment. This is an underappreciated feature of this platform. This is in stark contrast to the usual way of handling money, in which a banking institution has entire custody of one’s funds.

Unlike conventional payment providers, who may take between two to five days to complete cross-border transactions, Telcoin maximizes the power of blockchain technology, enabling it to process international payments in an instant at a far lower fee than most conventional payment providers currently charge.

Notwithstanding what its name suggests, Telcoin is not centered on the telecommunication market but is better viewed as a remittance platform that aims at allowing users globally to receive and send money without the need for any financial intermediaries (such as Moneygram, W.U., Paypal, etc.) that generally charge anywhere between 4% and 10% of the total amount being transacted.

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