Earlier in 2019, Mark Zuckerberg – CEO of the world’s most popular social network, Facebook – announced the emergence of a new cryptocurrency. Initially called “Facebook Coin” or “Global Coin,” this virtual token was believed to destabilize the global financial system. Some experts even fervidly predicted the depreciation of currencies planet-wide, which made Facebook Coin a competitive investment opportunity. Topped with the extreme affordability, this stable coin got the name of Libra. Now, let’s get to the most exciting part.
The hype around Libra made it possible to attract the public eye to the crucial questions of the modern financial system. Is it possible to profit with the blockchain alone? Until now, the answer was affirmative. However, the properties of a new Facebook-baked currency turned out to be game-changing. Just like so, the craze led to a mass emission of tokens.
Still, the question “Shall we see increase earnings or the wallet will be empty?” remains unanswered. Today, we are going to take a peek behind the curtain and find out whether this monetary alternative deserves attention.
1. Wide audience coverage
The tests of Facebook’s new tweak were conducted in WhatsApp whose user base is massive. Further implementation of the coin entails Instagram and Facebook itself. In just a couple of months, Libra is likely to gather a decent following of those who find the modern payment system imperfect.
2. Speed of transactions
Since new coin takes after its two “procreators” – blockchain technology and bank system – it has inherited the best of both. As a semi-decentralized/semi-controllable venture, Libra ensures speedier and more comprehensive wallet operations.
3. Lack of volatility
Because of being “bond” to the world’s most in-demand currencies, the Libra coin manages to sustain a decent level of stability. Even the mass emission of tokens did not make it less appealing to investment- and profit-oriented figures.
What makes Libra affordable is that it doesn’t depend on other currencies’ price fluctuations. Simply put, with a minimal amount of investment, it is possible to expect the same amount of earnings.
5. Over-the-top convenience
Although the newly-minted cryptocurrency is mainly used for in-app payments, the fin-tech experts are convinced the phenomenon will see tremendous success in the nearest future. In this way, the commonplace payments will run their course, since paper money are superseded with digital assets and tokens.
TO BUY OR NOT TO BUY?
To be honest, there is no definite answer. Just like with the many spheres, you are given two options – take a risk or let the things flow. Among some of the hottest concerns about joining the Calibra wallet ecosystem is the fear of personal and bank details leaks. Even though Facebook is not a full-time financial institution, many Internet users got swept away by the wave and are curious about how to buy (or how to earn) Libra and how to invest your hard-earned dollars in tokens.
Another red flag is the seemingly fake purity of monetary operations. What is meant here? It means that Facebook stands behind Libra’s flaws, with the bloated one being the inability to beat down the censorship. In the case of popular virtual coins protected by blockchain, it is impossible to freeze one’s wallet or cancel a transaction. However, it is not the case of Facebook. As a social network of global importance, it collects and stores hundreds of thousands of terabytes of data and digital content. Now, does the idea of getting much profit with Libra sounds as tempting as it used to?
ON A FINAL NOTE
The emergence of Libra is a huge leap forward – it is an undeniable fact. Our society is developing at an accelerated pace, which provokes the urge for newer ways to facilitate everyday life. Libra can boast off its unbelievable affordability, ensure the convenience of payments, and propel the use of cryptocurrency to the extreme heights. If these perks are enough for you to give it a whizz, then it’s time to look for information on how to invest your money in these assets. The subject is super-trending; maybe at this very second, someone’s got to grips how to buy Libra!