Purchasing The New Libra Coin Cryptocurrency

Cryptocurrency, for as much as it isn’t quite stealing the headlines it did a few years ago, has made a massive impact on technology and finance, remodeling people’s preconceptions about the nature of currency and the possibilities for abandoning the traditional methods of banking. Certainly, cryptocurrencies will play a role in the evolution of our understanding of money and will continue to create ripples along the way.

One cryptocurrency that is certainly making its own impact in 2020 is Libra Coin. Libra Coin will arrive sometime in 2020 but the hype surrounding it, since its announcement in June of 2019, has been immense. This is mostly due to the fact that its creator is Facebook, the social media colossus. Facebook created a blockchain division back in May 2018 and later announced that Libra Coin will be run out of a Facebook subsidiary, purpose built for the task, called Calibra. Calibra will also be the name of the digital wallet used for Libra Coin, which will be available to users in an app and as an add-on to WhatsApp and Facebook Messenger.

Libra Coin, unlike Bitcoin or Ethereum, is a stablecoin, meaning that the volatility factor that is so commonly associated with other cryptocurrencies won’t be a concern. It might be less exciting from the outside, but it will be a lot better for people who are interested in actually getting involved. To get started, Libra Coin will be linked to USD, GBP, EUR and JPY only. But, in truth, the currency will be hybrid, since, in spite of being a stablecoin, its value will fluctuate according to the market trends, much like normal currencies.

There are many different reasons for the creation of Libra Coin. One of the most commonly touted justifications is that it will allow online transactions to occur for ‘unbanked’ individuals of which there are quite literally billions. The power that having cash or other physically valuable currencies has is diminishing as life globally becomes more and more online. But buying into the banking system is also a problematic issue for many people. Libra Coin gives you that unobtrusive easiness that cryptocurrencies are famous for but also lend you legitimacy in your online financial presence. It being linked to Facebook, a huge social network with 2.38bn users a month, means that it is the perfect launching point for something that could go on to become mainstream.

Buying Libra Coin

Buying Libra Coin versus trading it, is an important distinction that, if made clear, will help people with no experience of the financial markets feel far more comfortable getting involved. Trading Libra Coin will be similar to trading Bitcoin and its peers. If you have no experience trading then you will have lots and lots to learn. It requires an ability to read and analyze financial markets, trends and price charts. You also have to understand the entry and exit points.

If you are buying into Libra Coin to trade then Libra Method is the best place to start. It is a highly optimized trading software that is useable at multiple different levels, from new trader to veteran trader. Like the creators of the coin itself, Libra Method is a ‘social’ platform, meaning that the data it draws come from the trading community. It intuitively picks up on the trends and factors that into its odds of success. A lot of the operations are automated making life a lot easier on traders. You can buy Libra Coin from Libra Method to start trading. The minimum buy in is $250 and, once paid, you will instantly have access to software.

If buying and holding Libra Coin is your only interest, then, when it has launched, you will be able to buy it through the Calibra Wallet app, which will be very simple and is perfect for those new to cryptocurrency, wanting a digital currency that they can simply use for transactions or to hold value. You’ll just need to sign up for an account and then confirm your identity through a fairly rigorous process (to protect against fraud). Then you simply convert funds in the applicable currencies into Libra Coin and away you go!

About the author

Ashley Halsey is a professional tech writer, working at LuckyAssignments, writing on all sorts of topics relating to marketing strategy and technology for business. She spends most of her spare time travelling with her family and gathering information for her latest piece of writing.