Facebook Diem libra crypto coin – where to buy it? (Predictions and opinions)

Facebook’s Libra cryptocurrency has changed its name to “Diem” – informs the Reuters agency, which estimates that the rebranding is related to the desire of its creators to obtain the approval of regulators. Facebook had planned to launch a wallet called Calibra that would allow users to send this cryptocurrency to each other.

The Diem Association is currently waiting for approval from the Swiss Financial Market Supervisory Authority as the organization is based in Switzerland, the FT reported.

Below is an archive entry.

Where to buy Diem Libra crypto?

At the moment there is no answer, where you can buy Libra crypto. For now, it is known that Facebook tokens can be used in applications belonging to the group, such as Messenger or WhatsApp, but the company is also thinking about physical terminals reminiscent of ATMs. Merchants who use Libra to settle their transactions will receive special bonuses from Facebook. Check if the currency is available on the largest exchange platform HERE.

Until recently, it was said that Facebook will present its cryptocurrency in 2020, but the work has clearly accelerated, because the project is to be ready for debut.

Financial stability is a worry too and regulators should ask for transparency on how Libra is structured. The token is expected to be a “stablecoin,” which is pegged to existing fiat currencies such as the U.S. dollar or the euro. (Bloomberg.com)

Facebook encourages people to buy cryptocurrencies!

Libra will need to be accepted in many places and easy to access for those who want to use it. In other words, people need to have confidence that they can use Libra and that its value will remain relatively stable over time. Unlike the majority of cryptocurrencies, Libra is fully backed by a reserve of real assets. As we can read in Libra’s White Papers:

  1. It is built on a secure, scalable, and reliable blockchain;
  2. It is backed by a reserve of assets designed to give it intrinsic value;
  3. It is governed by the independent Libra Association tasked with evolving the ecosystem.

The site recalls that during the F8 developer conference in April, Facebook announced several new features related to shopping in the company’s applications – it made it possible to buy products directly from influencers, allowed companies to place product catalogues on WhatsApp and allowed salespeople using the Facebook Marketplace to send products to customers via Facebook. All this to make buying and selling easier.

However, these features are available in the US market for the time being. But in many countries, Facebook has introduced the ability to add price tags to photos of Instagram products, which redirect the user interested in the product to a page where the product can be bought.

libra facebook crypto

Libra arouses considerable interest. But does the recognized reputation of Bitcoin allow Facebook to enter the throne?

The Information reports that Facebook would like to create a foundation that would manage the crypto currency, which may be a movement related to the fact that the trust in the Facebook brand has fallen dramatically after numerous scandals.

Unofficial information suggests that the team members working on Libra could have decided whether they wanted to be paid in tokens or in a standard form. Below are important questions and answers:

How can i buy facebook libra coins?
At present, Libra is not available. Documents are being prepared for publication. Check Reddit for more news >
Is Libra (Diem) a cryptocurrency?
Yes. Libra is a new cryptocurrency designed to have a stable and reliable value and be widely accepted around the world.
Is Libra (Diem) available now?
Not yet! Over the coming months, the association will be working to develop and grow the Libra network. If you are an organization interested in joining the Libra Association, you can learn more here. And if you are a developer, an open-source testnet (an early version of the Libra Blockchain) is available, and you can provide feedback on the code.
What is Calibra?
Facebook created Calibra, a regulated subsidiary, to ensure separation between social and financial data and to build and operate services on its behalf on top of the Libra network. Calibra will develop financial services and products around the Libra network, which will eventually be fully governed by the independent Libra Association.

Will Libra be popular? What are the predictions?

Bloomberg reminds that Facebook hasn’t exactly done much to earn everybody’s trust in recent years. The attempt to introduce a revolution in online payments through Facebook brings with it many risks, from antitrust concerns to the threat that FB may pose to financial stability.

According to a recent tweet from Jeremy Allaire, the chief executive of Circle, the launch of Libra will be a “massive inflection point in global adoption of cryptocurrency”. The prominent entrepreneur adds that by June 21st, he fully expects for Bitcoin to be valued at $10,000, “marking start of Crypto Summer.”

Many experts note that Facebook enjoys popularity, so at the beginning of Libra’s sale – the price will be high. But other runky experts will invest in stable crypto coins. It’s hard to deny it, because every new coin enjoyed great interest in 2017. Now people know that many of these currencies are not worth much.

Predictions about Libra are different. For example, on the Fortune.com website we read that critics lay into Facebook for its seemingly monopolistic dominance referring to the powerful alliance Facebook has reportedly brokered between so many corporate giants, including Visa, Mastercard, PayPal and Uber.

But CEO of the Zcash company, offered some support. “Unpopular opinion: I think the fact that Facebook is working on a crypocurrency is awesome,”. Also he said:

“It will be remembered as just as important — and transformative — as the launch of the Netscape browser.”

As you can see above, there are emotions, there is euphoria. The first month will be good for Facebook Libra, but what will happen later is too difficult to predict. New information about where to buy this currency will appear in the following weeks, which we will inform you immediately.

Latest News about Libra

Update: 16.07.2019

The US Senate Commission on Tuesday afternoon organized a meeting with Facebook representatives regarding the Libra project. The negative comments of politicians regarding the cryptocurrency market caused Bitcoin to fall below the limit of 10,000 dollars, losing over 10% on Tuesday.

Update: 05.07.2019

BusinessInsider.com announced on July 2 that now the Finance Commission of the US Congress joined the institutions concerned about Facebook’s plans related to Libra.

The point is that the congressmen working in it (apparently) directed an official letter to the heads of Facebook, in which they call for the immediate suspension of works on the project to introduce Libra to the general circulation. The authors of the appeal explain that the matter of creating a new cryptocurrency requires a deep investigation, because it raises serious doubts about the privacy of users and their security, according to Libra congressmen may also have a serious negative impact on the stability of the global financial market. Facebook has not responded in any way to the appeal received from Congress.

Update: 22.06.2019

France’s finance minister, Bruno le Maire, said in a radio interview that he “must make sure that there is no risk for consumers.” He explained that Libra will allow Facebook to “accumulate more millions of data”. – This strengthens my conviction that it is necessary to regulate digital giants to ensure that this does not end with a monopoly – he emphasized.

In addition, on the express.co.uk portal you can read that Libra co-developer Facebook’s current intention is to allow multiple developers make their own wallets. The portal informs that Libra’s value is tied to government-issued currency like the dollar—specifically to “a market-value basket of several trusted currencies,” a FB spokesperson confined.

So when it comes to buying this currency, then this means Libra is not a crypto you purchase to trade on the market in the hope of making money and probably it will be more like exchanging a dollar for a Euro.

If you are still wondering where to buy Libra crypto, then we explain, as above, that everyone is waiting for this information. When there are any details, we will write about it.

The US Senate Commission on Tuesday afternoon organized a meeting with Facebook representatives regarding the Libra project. The negative comments of politicians regarding the cryptocurrency market caused Bitcoin to fall below the limit of 10,000 dollars, losing over 10% on Tuesday.