“Telcoin tweets” are gaining ground on crypto Twitter.
While this cryptocurrency has been around since 2017, many investors haven’t heard about it till 2021.
Why?
Well, Bitcoin’s insane rise certainly helped!
Whenever Bitcoin pumps, every altcoin gets extra attention.
Even Dogecoin.
However, there are some pretty big crypto influencers now backing Telcoin. For instance, YouTuber BitBoy Crypto recently said Telcoin could revolutionize remittance payments.
Like many other altcoins, Telcoin sounds incredible on paper. But should you buy it?
Well, that depends.
Sure, Telcoin could be a fantastic opportunity, but low-cap altcoins are always speculative. Please do your research and assess your risk tolerance before diving in.
If you’re curious about how to buy Telcoin, I’ll share a few of the easiest ways you could add this crypto to your stash. However, before revealing how to buy Telcoin, let’s go over what the heck this coin is.
A Remittance Revolution? — What Is Telcoin?
Describing cryptocurrencies can quickly get way too complicated. So, let me try to sum up Telcoin’s story in one clear sentence:
Telcoin wants to be a blockchain-based Western Union.
Telcoin founders Claude Eguienta and Paul Neuner first came up with this idea in the mid-2010s. They aim to use blockchain and telecommunications to improve global remittance payments.
Since more people have phones than bank accounts, Telcoin’s founders thought it’d be easier (and cheaper!) to send remittances over the phone.
In a risky move for the time, Eguienta and Neuner built Telcoin on Ethereum. To this day, Telcoin is an ERC-20 token.
Telcoin works with big telecom providers to help encourage and facilitate payments.
Currently, Telcoin is based in Tokyo, and it has an official app for iOS and Android.
Note: When you buy “Telcoin,” you’re literally buying the Telcoin network’s governance token. Officially, this coin is listed as “TEL.”
Telcoin first dropped its tokens onto exchanges in 2017. According to CoinGecko, Telcoin has a max supply of 100,000,000,000.
How To Buy Telcoin On Metamask
There are various ways you could buy Telcoin, but the most popular is on Ethereum’s Uniswap.
For those who don’t know, Uniswap is a decentralized exchange (DEX), which means you won’t have to submit an ID to make a swap.
You only need two things to interact with the Uniswap app:
- An Ethereum compatible wallet.
- Ether (for gas fees).
Confused?
Don’t worry! I’ll go over exactly how to buy Telcoin on Uniswap.
Set Up A MetaMask Wallet
First thing’s first: You need to download a crypto wallet that interacts with Uniswap.
While there are many great Ethereum wallets, MetaMask remains the premier choice. Not only is this wallet well-respected, but it also won’t cost you a gwei to download.
Head to the website https://metamask.io/ and click the “Download” button on the top right corner.
Next, choose your preferred browser extension and click “Install.”
Once you’ve downloaded your MetaMask, it will ask whether you’re recovering an old wallet or setting up a new one. Choose whatever applies to you.
For those setting up a new wallet, you’ll have to input a password and review your “seed phrase.”
Please write all of this info down on a few pieces of paper!
If you lose your seed phrase, there’s no way to recover your funds. Trust me; it pays to take your time double-checking these words.
And that’s it!
Now it’s time to fund your MetaMask wallet with some Ether.
Add Ether To Your MetaMask
“Wait a minute, Spencer. I want to know how to buy Telcoin, not Ether!”
Well, you can’t buy Telcoin on Uniswap without a little Ether.
Ether helps fuel the Ethereum blockchain. So, if you want to use Uniswap, you need some ETH for gas fees.
Also, you’re going to need an ERC-20 crypto in your MetaMask to exchange for Telcoin.
Thankfully, since Ethereum is so big, there are plenty of ways you could fund your MetaMask wallet.
I love using Coinbase because it’s easy to buy ETH with your PayPal or bank account.
If you don’t already have a Coinbase account, please click this link .
Once you have some Ether, open your MetaMask and scroll to your ETH address. You can copy your address directly from the MetaMask wallet.
You can now go to your Coinbase Ethereum account and choose “Send.” Use your MetaMask wallet as the recipient address.
Here’s what it will look like on Coinbase:
After you hit “Continue” and confirm your transfer, you should see the ETH in your MetaMask.
Here’s a complete Metamask tutorial for beginners:
How To Buy Telcoin On Uniswap
Before heading to Uniswap, I recommend searching for Telcoin on either CoinMarketCap or CoinGecko. Here you’ll find TEL’s official Ethereum contract address.
Please copy this address into your clipboard.
OK, now it’s time to head to Uniswap.
Once you’re on Uniswap’s site, hit “Launch App” on the top right.
Next, click “Select a Token” and paste Telcoin’s contract address. You should see TEL pop up on your screen.
You can change the ERC-20 token you’re going to swap for Telcoin. However, please remember you need some ETH for gas fees.
Once you’ve set the amount you want to swap for Telcoin, be sure to connect your MetaMask wallet.
Lastly, adjust your preferred slippage and submit the transaction. You’ll have to set your Ethereum gas fee in MetaMask before confirming this swap.
Your Telcoin should soon arrive in MetaMask.
How To Buy Telcoin On Coinbase
Unfortunately, Coinbase has yet to list Telcoin on its exchange.
In fact, most centralized exchanges still don’t offer Telcoin.
While you could track Telcoin’s price on your Coinbase account, you can’t buy it just yet.
Of course, this may change if Telcoin becomes more popular.
Be sure to keep tabs on Telcoin’s website for any central exchange listings.
How To Buy Telcoin On KuCoin
KuCoin is one of the few major exchanges that allows users to buy and sell Telcoin.
Of course, you need a KuCoin account to buy on this site.
Please click this link to get started on KuCoin.
Thankfully, KuCoin has one of the most straightforward sign-up processes. All you need is an email address to get a KuCoin account.
Hit the “Sign Up” button on KuCoin’s main webpage, input your email, and you’ve got an account!
However, if you want to trade on KuCoin, you’ll need to put in your phone number and enable 2-Factor Authentication with the Google Authenticator app.
After submitting all your info, you’ll need to fund your KuCoin account.
You could transfer crypto from an external wallet or purchase a coin with a credit card via KuCoin.
There are only three trading pairs for Telcoin on KuCoin:
- Bitcoin/Telcoin
- Tether/Telcoin
- Ethereum/Telcoin
So, you need one of these cryptos in your KuCoin Trading account before buying Telcoin.
When you’re ready, open KuCoin’s “Markets” tab and search for “Telcoin.”
Choose the trading pair you’re interested in, set your amount, and hit “Buy.”
Are There Other Ways To Buy Telcoin?
Uniswap and KuCoin are the safest places to buy Telcoin. But that doesn’t mean they’re the only exchanges that offer this crypto.
Indeed, if you visit Telcoin’s official website, you’ll find a complete list of all the sites that sell TEL.
After Uniswap and KuCoin, QuickSwap and Balancer are probably the most popular platforms that offer Telcoin.
However, if you’re new to trading cryptocurrencies, swapping TEL on these protocols isn’t as user-friendly.
I’d only recommend people who are “crypto savvy” venture out from Uniswap or KuCoin.
How Do You Stay In Touch With Telcoin?
If you’re invested in Telcoin, you may be wondering how to keep tabs on this project’s latest news.
Twitter, of course!
Telcoin is very active on social media sites like Facebook, Twitter, and Instagram, so be sure to join these feeds for updates.
You could also find a Telcoin community on Medium and Telegram.
Scroll to the bottom of Telcoin’s website for official social media links.
Terrific Trade, Or Terrible Idea? — My Final Thoughts On Buying Telcoin
Telcoin may not be the flashiest altcoin, but it’s on a lot of traders’ radars.
No doubt, there’s a lot to like about Telcoin’s history, vision, and partnerships. However, please remember Telcoin isn’t the only crypto in the remittance payment space.
Most notably, Ripple and Stellar are making big waves in this industry.
That doesn’t mean Telcoin doesn’t have a future. It just means you should do your research before going all-in on TEL.
Remember: Fundamentals over FOMO!
Please be sure you fully understand Telcoin’s history and use case before scooping up this crypto.
If you’re sold on Telcoin’s prospects, I’d recommend buying it on either Uniswap or KuCoin.
For more in-depth details on Telcoin, please visit this crypto’s website at https://www.telco.in/.
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