How to buy Libra, Facebook's cryptocurrency?

The cryptocurrency that the Libra association, created by Facebook, wants to launch has not yet emerged and therefore it is not yet available on the markets. However, despite the reluctance of some governments and the defection of several partners, Facebook's objective remains to launch Libra in the second half of 2023 and there are already clues to imagine how the Libra will be accessible to the greatest number .

Even if the company of Mark Zuckerberg announced that it would not launch its currency without the agreement of the various regulators, observers remain cautious because if legally nothing seems to be able to prevent its launch, the States are worried about the immense potential of Libra and the consequences on the existing financial markets.

Opposition still present from governments

The arrival of a new currency that could be used on a large scale worries most governments who are afraid of seeing their monetary sovereignty called into question. The Minister of Finance, Bruno Lemaire, did not hide his concern about the arrival of the Libra and appears as a staunch opponent of its release. Russia has announced that it will not legalize it and Washington is still not reassured.

We will have to wait for the next few months, which are likely to be decisive, to know if the Libra will be put into circulation during the year. Pending fire green regulators, we know more and more about Libra and how it works.

Libra, a different way of bitcoin

First of all, it should be noted that Libra, as it is presented to us today and even if it is based on a blockchain, is closer in its operation more to a virtual currency than a cryptomonnaie as can be Bitcoin. Unlike this one, the price of which varies according to supply and demand, the Libra will be indexed on a basket of currencies comprising mainly, dollar, euro, yen and pound sterling in order to make it as stable as possible.

The stated objective of Facebook being to make of it a real currency of exchange, easy to use even for the uninitiated with cryptocurrencies. This stability and this willingness to be open to the greatest number as a virtual currency, used daily, shows us that it will not directly compete with other cryptocurrencies already in place. The launch of Libra is unlikely to have a significant impact on them.

What distribution modes can we expect?

With its subsidiary Calibra, Facebook wants to provide all owners with smartphone a virtual wallet in which it will be possible to buy, sell and store Libra. At first, it will also be possible to exchange or transfer them via others applications of the group such as Messenger, WhatsApp or Instagram. This potentially represents more than 2.5 billion daily users.

Once Libra is fully operational, it should appear on the various trading platforms alongside the others cryptomonnaies.

This will also interest you

Did you like this article ? Don't hesitate to share it with your friends and help us to promote ABSMARTHEALTH :)! The editorial team thanks you.