SWAP.TEL FAQs: Answers to Frequently Asked Questions
and more insights to SWAP any crypto smarter
1. TELCOIN is a digital asset , with $TEL representing its ticker
(and also the gTld extension of this memorable SWAP.TEL website !). TEL coin has been primary
designed to be sent easily over mobile phones and be cashed-out through
mobile money platforms at destination side, thanks to partnerships with
Mobile Operators, with licensed eWallet Service Providers or Mobile Financial
Services Providers.
2. A digital TOKEN is a digital asset which can be
exchanged between holders of digital accounts. Some value can be attached
to digital token and may vary over time. You can purchase digital tokens
on-line , store them, transfer them instantly over any distance by
electronic mean, as well as exchange or convert them into other token or other
tangible assets, units, coins ... or fiat currencies trough registered operators or through automated trading platforms.
3. Yes , transactions and exchange settlements in
TELcoin units are registered in a consensual and very robust way to
preserve known TELcoin token quantity and their intrinsic value, avoiding
unauthorized digital duplication. This is a major advantage of Blockchain
technologies, on the contrary to other methods used in traditional finance
and accounting with may allow unfortunately possible expansion and
progressive duplication of volume of units in circulation, endangering
intrinsic value of each unit... although the latest are methods sometimes
used by governments and central financial authorities however for so-called fiat
currencies (see Quantitative Easing, Helicopter money, etc, ;+)
4. From a TECHNICAL point of view, $TEL COINs are
ERC20 digital token, which transactions are operated over Ethereum
protocol and registered in a unique and very fast way on a universal
ledger thanks to TELCOIN blockchain .
5. TELCOIN as a company, is registered as TELCOIN
PTE Ltd. in Singapore and has registred offices with License in multiple countries.
TELCOIN PTE Ltd is the sole issuer of TELCOIN tokens and has been sticking to a compliancy-first stategy for international development.
TELCOIN PTE Ltd is also the editor and operator of the TELCOIN blockchain, and
does manage, support, and guarantee its daily operation. TELCOIN staff is
an international team, initially based in their head office in Tokyo, Japan, and
operates at international level from there thanks to pro-cryptocurrency
environment in Japan. TELCOIN has also offices in Dubai, Australia, is also registered
in Canada. TELCOIN built in 2020 a larger development team in L.A. Ca, USA, and is applying for a Digital Asset Bank charter in Nebraska.
6. TELcoin token can be TRADED on online platforms
named EXCHANGEs
, which guarantee accessibility to the digital token, availability in volume aka
liquidity, and more importantly , offer instant interoperability with so
called "fiat" currency systems and financial systems worldwide under
24-hours a day trading. TELcoin has also bridged over Blockchain, its $TEL coin with
other known cryptocurrencies to guarantee even more liquidity and to offer paid price stability
when needed during some financial transactions typically like remittances, although TELcoin remittances flight time
is no longer than two seconds for overseas transactions.
7. It is possible to STORE your TELCOIN tokens
online with a web account on EXCHANGEs , or directly yourself , through any basic smartphone
after installation of the dedicated user friendly TELCOIN mobile app available
for Android and iOS , or through other mobile multi coin wallets supporting $TEL. TELCOIN tokens can be also stored under a physical
manner, also named cold storage.
8. To obtain, hold, or receive TELCOIN tokens, you need an
electronic wallet dedicated to the TELCOIN token like the on-purpose TELcoin app,
or at least a general purpose digital wallet supporting $TEL along side to other cryptocurrencies
with is the case of COINOMI.
The TELcoin app , from its v3 release, is also supporting other cryptocurrencies alternative to $TEL.
Such self custody crypto wallet do represent a suitable unique electronic
address for unique identification during any transaction of the TELCOIN blockchain ledger.
You can freely obtain such compatible electronic wallet by several manners.
9. You can ask also your Mobile Money Operator about TELCOIN as he
might have already included TELcoin electronic wallet in his mobile money
platform for you to benefit from receiving instant international remittances legally without spending time going an queuing at specific kiosques.
Alternatively, you can freely create an electronic wallet associated to
your mobile phone number provided your phone is Android or iOS compatible. The Official TELCOIN mobile
wallet App is edited , provided and supported by TELCOIN PTE Ltd.
10. You should now download and install the
official mobile app for TELCOIN on your smartphone if your country is listed as a TELCOIN activate LIVE countries
for remittances, regularly adding new ones. When you first launch
the TELCOIN app, this will create FREE your TELCOIN mobile
wallet, uniquely associated to your mobile number under its international format.
It is possible however to receive and send $TEL from
alternative wallets like the general purpose multi coin wallet COINOMI
especially in the case you would like to acquire and hold easily some TELCOIN $TEL ahead of your country is open by TELcoin for its TELcoin app.
11. Activation Code, definition : in the case of the
mobile TELCOIN application, the Activation Code is the code sent to you
over SMS by TELCOIN as soon as you install the TELCOIN mobile app on your
smartphone . This code to be entered at first activation of your mobile
TELCOIN wallet, enables unique recognition and association of your mobile telephone number
, with your new TELCOIN electronic account created, identified by its unique
Wallet Address.
12. Wallet Address : this is a long chain
of characters that identifies in a unique way a digital account capable of
holding TELCOINs. Credits or Debits of TELCOIN tokens, do use ETHEREUM
blockchain technology to register in a general ledger, the two wallet
addresses that are involved within each Telcoin transfer, between one
originating wallet sending $TEL , to the destination wallet address receiving the $TEL sent.
13. Secret Code, definition : it is the specific unique 6-digit code that
you register-in on TELCOIN mobile app after activation of your account.
You should memorize and never forget your secret code entered, as it would
be requested later next time to allow you to securely access again to your
TELCOIN account associated by TELCOIN to your mobile number or to transfer
TELcoins assets. User therefore needs to keep this secret code in a secure
place as it allows to debit and send TELCOINs from his mobile account
which holds his TELCOINs token, to a destination TELcoin account.
14. CASH OUT : this is the operation of converting
an electronic token into some fiat money, generally into the national
currency in use locally. You can typically cash out in Philippines now
with GCash , or at any of the +12000 agents of PayMAYA. GCash is a major
mobile wallet that already accepts remittance from TELCOIN token. You can
visit and ask your nearest Mobile Money agent nearby whether he already
supports money remittance by TELCOIN international transfer. At present time of update of this page,
$TEL can be cashed-out legally at 23 mobile money systems. TELcoin is regularly adding new licensed
mobile money partners for legal cash out of $TEL so you rather check regularly for update for your country.
15. Mobile Money : a digital token generally
distributed and exchanged by some mobile telecom operator between mobile electronic
accounts attached to mobile phone numbers identifying his mobile subscribers
on his mobile network. This token is managed under a mobile telecom
operator license and under an electronic money license in the said
country. In some countries, due to local legislation it might be real specific
bank accounts, or also credit card accounts, that are directly accessed by the mobile money operator to
perform mobile money operations. Units and subdivision of Mobile Money in
a given country are expressed in same units and subdivisions of the
national currency used in the country. Each Mobile telecom Operator guarantees,
supports and monitors any payments made by, or transfer between, its
subscribers with such mobile money tokens. Each Mobile Network Operator guarantees
as well anytime any exchange between his Mobile Money tokens and the equivalent value in
national fiat currency. In general this is performed in relation with a
regular (incumbent) financial authorized body, like a partner Bank, under an agreement
signed between the mobile network operator and the financial partner in accordance
with financial regulation in the said country. Some mobile operators also
acquired a banking license themselves when available to operate themselves without dependencies.
16. Mobile money platform : this is a combined Software and Hardware
system for mobile digital token management which is generally integrated
into the mobile telecom network managed by the mobile telecom operator, and in some rare cases,
by some Full Mobile Virtual Network Operator. Mobile Money Platform enables mobile telco to perform
credit and debit operations of electronic tokens on electronic accounts which are uniquely linked to individual
mobile phone numbers and to the user identity registered for that mobile
number. Mobile Network Operators handle the Exchange and interoperability
between their digital token and the counterpart amount in local
currency. Mobile operators are in charge of KYC and AML process in
relation to the mobile money account granted to their subscribers.
In some countries, their mobile money platform might be directly interconnected to
the Core Banking System from some partner Bank. Well-known examples of
mobile money platforms from mobile operators are named m-Pesa, MTN Money,
Mobiflouss, Mobicash, Orange Money , Digimoney, AIrtel Money. In Philippines,
Globe, SMART, have launched their Mobile Money platforms typically
aka GCash and SmartMoney. PayMAYA is also already available in Philippines
as a Mobile e-Wallet compliant with Mobile money payment services. GCash was the first
public Live partner of TELCOIN to support from March 2021, mobile cash-out of instant TELcoin
remittances direct into Filipino Peso.
17. Cash out into Mobile Money : Users of TELcoin
mobile wallet have the possibility to directly receive in some Mobile
Money account managed by smart mobile operator, the amount of value
expressed in the national currency and corresponding to the value of
telcoin assets received on their mobile , calculated at the rate of
exchange between TELCOIN token and local currency. Some service fee may
apply from the mobile network operator partnering with TELCOIN for the local conversion at destination into
their private mobile money wallet. GCash and PayMAYA wallet accepts in
Philippines, TELCOIN conversion into filipino peso PhPESO. Fourteen new countries ar supporting direct mobile
cash out into Mobile Money wallet locally. You may ask directly your nearest Mobile Money Agent
on how to benefit from international instant money remittances, also called remesas or remits, using TELCOIN $TEL token
for instant mobile-first, with extra low fee remittance.
You can introduce him to this SWAP.TEL website for him to tell you which mobile
telecom operator support $TEL in your country and to find a way to help you.
18. Sending Money : International Money Transfer
using Telcoin $TEL token is very fast, within seconds. Transfer of TELCOIN
tokens between TELcoin accounts might not be restricted by laws in any
country, and both sides can use official TELCOIN mobile app when available, or alternative mobile app supporting $TEL
like COINOMI to send
TELcoin tokens to each other and especially to Friends and Family abroad or to any
registred user. When using genuine TELCOIN app, things are much simpler as the TELCOIN app use receiver's mobile phone number
per default as the destination address for $TEL transfer ! Other Mobile apps although supporting $TEL your side, need you
to know and input your counterpart wallet address as an external address known to support TELCOIN $TEL token,
to enable you to send $TEL that can be received by your correspondent.
Cashing out TELCOINs into local currency has to be compliant with local regulation of money Exchange or mobile
money on one hand. Cashing out TELCOIN token into regulated Mobile Money
Platforms operated by Mobile Telcos is safer, smarter , faster, and cheapest way to cash out
in full compliancy with local regulations into local currency. Ask your local operator or its
Mobile Money Agents how to convert your TELCOIN token into mobile money on
their platform you already use. In all cases you may ask your nearest Mobile Moeny (MoMo) agent down the street how to proceed,
he might be willing to find a way to help you.
Any user can download ahead TELCOIN mobile app on its smartphone to send
and receive TELCOIN tokens, or other mobile app known to perfectly
support $TEL token like COINOMI.
19. Remittance : international money transfer , aka
cross border transfer from one country to another country, are done by a
person to the benefit of another person, generally a family member or a
friend abroad. Costs and delays of incumbent international remittances are
high, while TELCOIN remittances are intantly performed into mobile money platforms at cheaper fees with
a maximun of 2.5% , sometimes less.
When not using TELCOIN token, it may take a long time before remittances
receivers can practically cash out at a local agent shop they have to find and go to.
20. Sending Money Smarter overseas after using
SWAP.TEL : purchase
TELCOINs and send some of them instantly to your Friends and Family
using TELCOIN mobile app and their mobile money partners in countries of destination.
You can now send some TELcoins to your Friends and
Family mobile numbers worldwide safely using TELCOIN app !
Alternatively you may use apps known to safely support $TEL sending and receiving :
-If they do not yet have a wallet for TELCOINs,
they can download the TELCOIN APP after being notified of pending TELCOINs
reception ! Altenratively they can download and activate COINOMI app prior to TELCOIN activation in their country
-If you already hold some bitcoins or other
altcoins, convert
some into TELCOINs if your Exchange now support TELCOIN and deposit
them directly into your new TELCOIN wallet address attached uniquely to
your mobile number as seen above.
-You can also always open an account online at
known independent EXCHANGEs
which support TELCOIN token and already trade them against BITCOIN,
ETHEREUM, or other Altcoins. By doing so, you can also then transfer
TELCOINs
from EXCHANGES directly into any mobile wallet
which address as seen above, although this might be more
appropriate to larger amounts due to outbound transfer costs from
EXCHANGES
.
.