What if you could have a bank in your pocket? Sending money across the world in a second could be a snap!
You can now send money faster than ever if you have a smartphone. You don’t need to go to the bank. You don’t even need to talk to anyone. You can send money in an instant, and you can hang on to more of what you’ve earned–no more getting nickeled and dimed by banks until you’re broke.
Big banks have sidelined the average person for far too long. Massive financial institutions make risky investments, charge outrageous fees, and look to taxpayers to bail them out when they mess up.
This is about to change.
Telcoinis a mobile app that lets you send money all over the world in seconds. Fees are low, about 2% per transaction. Compare that to the 7% average of most other providers and you can see the advantage right away. This is a considerable innovation in terms of convenience, but it also levels the playing field. It no longer matters what country you are from or what your last name is. It doesn’t matter that you don’t wear a Brioni tie to work. You have the same access as everyone else. This is a game-changer.
Telcoin is not new. They’ve been around since 2017, chipping away at the digital remittance industry with a product that makes sending money smarter, faster, and more economical.
Telcoin (TEL) showed gains of almost 7,000% in 2021. They have their sights set on overtaking large chunks of the market from companies like Western Union. The industry has a current value of $49 million, and Telcoin is throwing elbows. Bloomberg Markets noted in December 2021, “Global remittances will likely grow by $31 billion in 2022, reversing last year’s decline.”
With Telcoin, you can currently send money to 16 countries (and counting). If you have a smartphone, you have access – boom! No filling out paperwork, getting to a physical location, or dealing with people in suits. Send money to your sister thousands of miles away while you sit on the couch. Lie on the beach in Miami and send money to Malawi.
The Telcoin app can change currencies as well. If you’re in the United States and want to send money to the Philippines, it’s super easy. The currency leaves your mobile app as dollars and shows up in your sister’s app as Philippine Pesos. This all happens in a second, and for a fraction of the cost of what you would pay Western Union.
The banking methods of the twentieth century are dying. Companies like Telcoin are seizing the day and bringing DeFi to the masses in a fair and equitable fashion.
About Kit
Kit Campoy is a former retail professional turned freelance writer. She writes about Leadership, Retail, and Web3. Contact Kit for your content needs.