The Telcoin cryptocurrency is base on the Ethereum blockchain. And it launched in July 2017 in Singapore to be the bridge between cryptos, blockchain, and the telecommunication industry.
And through the technology, it claims to facilitate money transfers at high speed and a low cost.
Also, it partners with telecoms and mobile money platforms. It makes sending money “as easy and sending the text message,” according to its website.
And put, Telcoin is the blockchain adaptation of money transfer firms such as Western Union and MoneyGram.
Also, Blockchain technology, which can seem very complicated, is the kind of database used to record transactions.
What is the Value of the Telcoin?
- The price of the Telcoin is currently sitting at the dollar 0.035 (dollar 0.05), according to the CoinMarketCap.
- Also, it’s up by 21% over the past 24 hours at the time of writing. In comparison, it was worth just dollar 0.0071 (dollar 0.0099) on May 1 this year. Its market cap is currently dollar 1.9billion (dollar 2.7billion).
Also Read: What is Chiliz? – Definition, Work, and More
How it’s Risky for Telcoin?
- It investing in any cryptocurrency is essentially gambling, and there are no guarantees that we see what we pay in to go up in value.
- Also, it’s a speculative investment with limited track records and no underlying value.
- And there is also no guarantee that we can convert crypto assets back into cash. It depends on the demand and supply in the existing market.
- Also plus, investing in newer cryptocurrencies rather than Bitcoin, for example, is even riskier and makes you more open to scams.
- And “the price swings can expect the wild, and there’s the legitimate risk that investors can get burned.”
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