Education

Resources for DeFi and TELx

Step 2: Transfer Funds (Fiat) to your Web3 Wallet

TELx operates on the Polygon (MATIC) network, so please keep this in mind as we go through the guide


Since the Ethereum network uses ETH as gas (processing) fees, it's always best to send Ethereum (ETH) to your wallet first so you can process any future transactions without any issues.

Telcoin currently allows those in most US states to deposit directly into the TEL App from your bank account. Here are the links to download the TEL App:
Telcoin App for Apple App Store Telcoin App at the Google Play Store
If this deposit function is available for you, follow the steps within the app to connect a bank account, deposit some fiat directly into your TEL App, and skip to Step 4 of this guide. Otherwise, please continue through our guide.
There are multiple other on-ramps to get your fiat into the crypto space, so please feel free to use your on-ramp of choice. Follow the instructions from your service provider of choice and keep in mind, some of them allow for funds to be deposited directly into the Polygon network. If this is the case, select that option and please skip to Step 4.
There are also certain Centralized Exchanges (CEX), like Kucoin, that you can deposit money on and withdraw directly to the Polygon network as well. Just make sure you use the Polygon network when withdrawing your funds from the CEX. Again, if this is the case for you, please skip to Step 4.
Now you can send your funds to your Web3 Wallet, using any of the methods mentioned above, either on the Ethereum or Polygon Networks. You always want to use your walled address as the receiving wallet.