LIBRA CRYPTOCURRENCY FROM FACEBOOK AND ALL YOU NEED TO KNOW

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All you need to know about Libra Cryptocurrency From Facebook
All you need to know about Libra Cryptocurrency From Facebook

Libra Cryptocurrency From Facebook- The fashion for blockchain and cryptocurrency has subsided somewhat in the last two years, but this does not mean that digital coin, like technology, has died. Moreover, Facebook brings its “crypt” to the market.

LIBRA CRYPTOCURRENCY FROM FACEBOOK AND ALL YOU NEED TO KNOW

When bitcoin soared in price, the whole world was in the midst of cryptocurrency. Many tried to make a virtual blockchain-based coin. When bitcoin collapsed, the homegrown “crypt” did not justify itself, and the miners began selling their farms, and there was less news about the blockchain. But, the topic did not die, and there remained what is called “big fish.” And now, Facebook launches its virtual coin.

  • Price and release date in the US for Libra cryptocurrency

Facebook’s own cryptocurrency called Libra, will be presented on June 18th. But Libra (this is how Libra is translated from English) will be launched no earlier than 2020. It is planned that the currency economy will be decentralized and will not be able to control it either on Facebook or in companies-investors directly. The initial course and methods of mining are also still unknown. Initially, use the “crypt” will have users from the US, UK, and the European Union. In the future, it should spread to all countries where Facebook services are available.

  • Cryptocurrency Review Libra

Cryptocurrency, which Facebook calls stable coin (stable coin), is developed in secrecy mode, so before the presentation of the details about it is not so much, but something is known. First, the Libra promises to bind to the basket of currencies of various countries, which means it will have a kind of protection against feverish jumps. Secondly, Facebook plans using its own virtual currency to become more independent of the regulatory authorities.

Interestingly, the project partners are traditional payment systems Visa, Mastercard, PayPal, which invested $ 10 million in the project. The stability of the new cryptocurrency should attract users from developing countries, where it has every chance of becoming a supranational payment instrument. True, provided that local governments will not resist this.

Facebook now has 2.4 billion active users every month. They will be the original base of the new cryptocurrency. In addition, Libra can also be used by Instagram users, WhatsApp messengers, and Messenger. Facebook is going to forge partnerships with major online trading platforms, where they can also use cryptocurrency.

According to other sources, now Mark Zuckerberg’s company is developing physical terminals resembling conventional ATMs, through which users can convert their money into Libra and vice versa.

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