Where to buy Libra?

10 Feb, 2020 Endy Callahan

After the announcement of Libra cryptocurrency issue, interest in it has unusually increased. Many beginners and experienced investors tend to have this coin in their portfolio. The difficulty is that it is relatively new, so it is not possible to make a purchase transaction on every crypto platform. Let’s learn the available options. 

Libra Token Specifics 

The cryptographic currency of the social network Facebook will be linked to the currency basket, as well as risk-free securities. It will not focus on any particular currency. This approach is designed to reduce the sharp fluctuations in the rates faced by other coins. You can read more about the coin in the articleWhat is Libra?”.

The developer plans to integrate the coin into Facebook, WhatsApp, Messenger and affiliate applications. If desired, the company's employees will be able to receive part of the salary in coins. Libra will be able to be used for money transactions in applications and for exchanges between users. The company plans to install “cryptomats”, ATMs for processing operations with coins offline.

How to purchase Libra coins 

The developer promises to provide various methods of acquiring cryptocurrency. Among them are the use of mobile applications and ATMs. Initially, the coin was to be called GlobalCoin. Facebook intends to spend a billion dollars in various currencies to create collateral for its coin.

The main way for future purchase of a Libra coin will be through the use of its national currency. Therefore, each new coin will be created when there is security for it. And when the funds are withdrawn, the coins will be destroyed. This approach is designed to make cryptocurrency more stable due to fiat money. They will constantly be in reserve. By the way, the company will use them at its discretion. A significant part of the reserves will be spent on investments in securities with minimal risk.

What is Libra cryptocurrency for?

Today, the market uses a lot of stablecoins. What is the feature of Libra? Its developers are very ambitious, in their plans to make a coin a single world currency, the use of which will be accompanied by a minimum commission. This fact is intended to attract those who have Internet access but have not yet opened a bank account.

According to statistics, labor migrants pay $ 25 billion annually as commissions when transferring funds to their native country. Libra plans to fundamentally eliminate this disadvantage.

Facebook cryptocurrency has such advantages in comparison with other coins:

  • Minimum transaction fees
  • Ability to conduct operations in seconds
  • Providing technical assistance through WhatsApp and Messenger around the clock
  • Ease of sending payments using a mobile application
  • If fraud is detected, the money will be returned to the sender
  • Direct integration into all Facebook products
  • Transaction Confidentiality

Libra cryptocurrency has many advantages and great potential. Not surprisingly, today many people are considering the possibility of investing in it. Why don't you join the owners of this promising crypto asset? To do this, it is not necessary to spend great amounts of money.