Is Facebook’s Libra the Next Best Investment?

The cryptocurrency markets are so dynamic that it’s often quite hard to keep in the loop of the latest information that may be key to one’s next investment. Facebook’s Libra Coin has shaken the many in the cryptocurrency sphere with excitement, skepticism, and fear. Facebook finally released the details of its long awaited cryptocurrency, opening the gates to what could become a new business model for social media sites. Questions of regulations and market fit arise as more individuals consider the inevitability of the social media giant’s cryptocurrency.

Facebook’s Libra

Libra allows users to send money to others with almost no fees charged. Users will be able to purchase their Libra online or at local exchange points (e.g. shops). The coin can be spent on other applications such as WhatsApp and Facebook Messenger. Calibra, another cryptocurrency invention by Mark Zuckerberg and his team, will handle cryptocurrency dealings. It promises to protect the privacy of users.

From a glance or a distance, Mark Zuckerberg’s Libra may look like the next best thing. From a distance, a bank account can also look like the next best thing. It is important that people realise that they have been duped for decades by financial institutions. Society not only needs to realise that they have been losing money to crooked financial institutions but they also need to realise why. Without having a good understanding of why they lose money from using traditional banks, the quicker they will realise that sound cryptocurrency is the future of their society’s financial sectors. Most banks have made false reports on their assets. As a result, customers have lost significant amounts because of poor risk management practices by banks.

Read the full article at https://morethanfinances.com.