Review on Telcoin by erdi yılmaz
Money Transfer with Telcoin
Telcoin, an Erc20-based token, is a platform called mobile cryptocurrency that tries to integrate cryptocurrencies with mobile networks around the world. It aims to easily switch between postpaid and tariffs between all operators.
The Telcoin platform offers users the opportunity to store assets with a Telcoin wallet. They make it easier to spend with mobile devices and to buy things using a mobile application through a wallet. They make it simple to pay international loans, wire transfers, and buy and sell online. To send money to any person in the world, typing his phone number is enough.
Pros
- They aim to gather all potential mobile users by trying to make agreements with all GSM operators in the world.
- The goal is to make international mobile money transfers faster and with lower commissions.
- The number of mobile phones in the world is much higher than the number of active bank accounts. With Telcoin, you don't need expensive remittance agents like Western Union to send money to anyone anywhere in the world. You won't spend too much time or money using a mobile phone.
- Using blockchain technology and mobile money infrastructure, Telcoin enables users to transfer money globally in seconds.
Cons
- The global average cost of sending a remittance is over 7%. Telcoin is targeting an average total cost of less than 2%. While this cost may seem low when looking at the cost of sending a traditional international money, it is still incredibly high when compared to the cost of sending cryptocurrencies within the blockchain.
