The year 2020 is all about the digital currency Libra. With the coin, Facebook wants to play on the cryptocurrency marketplace and is one of the first private companies in this area. Buying Libra is not yet possible. But it is not wrong to deal with the digital currency and learn more about the exchange rate and the possibilities for a purchase or an investment in this context. Experts predict that Libra will launch in 2020. How the exchange rate will develop, however, can only be seen from forecasts so far.
- Market entry of Libra in 2020
- World currency of the company Facebook offers tokens
- Libra exchange rate could climb high
- purchase via marketplace or investment in CFDs
table of contents
- what is the idea behind Libra?
- Where can I buy Libra Facebook?
- Trading Libra through CFD brokers
- Buy Libra - what is the intention?
- Step by step - buy Libra through the broker Part 1
- Step by Step - Buy Libra through the broker Part 2
- Use a demo account before buying Libra
- Buy Libra Coin through a marketplace or stock exchange
- What is Libra based on?
- Buy Libra Coin - how can the price develop?
- The investors behind Libra
- Libra brings its own wallet with Calibra
- This V Libra brings advantages with
- These disadvantages bring Libra with
- Conclusion: Buying Libra can be worthwhile
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What is the idea behind Libra?
Buying the Facebook currency Libra is probably a plan that many investors are already pursuing. The publication of the digital currency is eagerly awaited. Facebook itself has been announcing the cryptocurrency for some time. But what exactly is it and what can buyers expect here? Already in 2018 there was the first information regarding a digital currency that is to be launched on the market as a global currency. World currency is a term that Facebook coined here. The goal of the cryptocurrency is to be used internationally as a means of payment and to significantly simplify online payments.
The interest in the currency is not only great because it is a Facebook project. It is the cooperation with some large companies that attracts attention. Due to the customer base of these companies, it can be assumed that the Libra will enter at a fairly high price. Of course, the desire to be one of the first buyers is understandable in this context.
It is known so far that Libra will also be based on a blockchain, which draws attention to itself through a decentralized basis. It should be interesting to note that users can also use smart contracts here. The idea is not new, but has already proven successful with other digital currencies.
To what extent a purchase of Libra really makes sense for investors, investors and users cannot yet be said.
Where can I buy Libra Facebook?
The more people talk about the token, the stronger the interest of investors to be among the first buyers. However, there is the question of where the Facebook coin can actually be bought. So far, there are only conjectures, as there is no answer to this question from Facebook. However, it can be assumed that well-known marketplaces, trading exchanges and brokers will use the opportunity to sell the coin. However, buyers have to decide whether they prefer the crypto exchange or trading through the crypto broker. The crypto exchange is a very good choice for the direct purchase of the tokens. Handling is easy, but depends on the respective stock exchanges and marketplaces:
- Buying and selling Libra through a marketplace
- Selling and buying according to price
- more directly Trade with interested parties
- Buying or selling via the platform
If it is a marketplace, buyers and sellers can create offers and requests and indicate what they are willing to pay. Of course, this has the advantage that the prices can be made yourself. In the case of a normal crypto exchange, on the other hand, the price for the Libra is predetermined by this and is based on the current price. In order to be able to buy Facebook Libra directly, a prior registration with the stock exchange or the marketplace is necessary.
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Trading with Libra via CFD- Broker
An alternative to making the purchase through a stock exchange or a marketplace is to invest in the form of CFDs. The financial derivatives can also be used for other underlyings, such as stocks and currencies. However, more and more brokers are giving traders the option to trade digital currencies. The advantages of investing in Libra in this form are also versatile:
- easy registration directly with a broker
- investment in other digital currencies
- no wallet necessary
- trading on rising and falling prices possible
- use of levers possible
Today, registration with a broker does not take much time. In fact, a few minutes are often enough to open an account. Deposit options are versatile. After the deposit has been received in the account, you can start trading immediately. A wallet is not required. This is one of the big differences compared to buying and selling the tokens. Here it is always necessary to use a wallet. It is not yet clear to what extent only Libra's own wallet can be used or whether other wallets are accepted.
One of the greatest advantages for investors and traders in particular is to use CFD To be able to trade with a lever. Even if it is kept very low with digital currencies, it still increases a possible return.
Buy Libra - what is the intention?
When deciding whether to buy directly is conducted through a marketplace or an exchange or investors prefer to trade CFDs, depending on why the token is of interest for a purchase. So there are buyers who are primarily interested in the technology behind the cryptocurrency. So far there is some information, such as the reference to the smart contracts. However, what can really be implemented, what the speed of the transactions will be and to what extent the technology is also of interest to developers has not yet been clarified.
However, if buyers primarily want to benefit from price jumps, this is a direct one Buying the tokens is not absolutely necessary. Here it can be enough to trade via CFDs. Precisely because there is the option here of not only being able to bet on rising but also on falling prices, trading in this form is recommended for investors with a view to the return.
The decision can also be influenced by possible fees. Broker fees are usually very transparent. This allows traders to see at a glance how high the fees are when they trade. Buying and selling Libra is also costly. The amount depends on the provider. A comprehensive comparison of the marketplaces is therefore recommended to save costs.
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Step by step - buy Libra through the broker part 1
If traders would like to trade with a broker and not only buy Libra, but keep an eye on the price and price development, trading via the broker is a good choice. The following steps are necessary in order to be able to act quickly after publication:
- Logging in
It is not yet known which Brokers trading with Libra will be possible. Therefore, it does not make sense to register with a broker beforehand. However, anyone who deals a little with the offers knows the price structures and the possible levers of the providers. As soon as it is clear where Libra can be traded, you can register.
- Enter all data
Enter the Data is the next step. Real money trading can usually only be carried out if the trader has provided all of his details. This serves to protect the broker and also that of the trader. Credit can then be deposited.
- Make a deposit
The ways in which the deposit is possible also depend on the broker, There are various options, for example depositing via credit card, bank transfer or Skrill and Neteller. At this point, too, traders should pay attention to whether there are any fees. This is often the case, in particular, in the event of a later payment.
How high the minimum deposit is can be found in the information provided by the broker. In the meantime, there are some platforms that do not set a minimum deposit at all.
Step by Step - Buy Libra via the broker part 2
After a first deposit with the broker, trading can begin usually start. Now it has to be checked where the positions on the Libra can be opened via the trading platforms. There is usually an overview on the dashboard. The trading pairs that are available for an investment are listed here. If the broker later offers to trade with Libra, the pairs will also be found here.
Registering before the digital currency is released can help you to get a first overview of the trading platform and yourself to get acquainted with the broker.
When the trader has found what he is looking for, he can select the trading pair and now determine how the positions should look. The amounts, leverage and possible hedges must be stated. Positions in trading CFDs can usually be hedged. This can reduce possible losses.
Observing the position and closing it again is the last step. The trader should keep an eye on the development of the Libra price. It can make sense to close early if the course does not seem to be moving in the right direction and it is not foreseeable that anything will change. This way, possible losses can be kept lower.
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Use a demo account before buying Libra
Before real money is invested in Libra via a broker can be used with a demo account. The extent to which the broker provides a demo account depends on the provider. Today, however, the demo version has already become standard. The advantage for the trader is that he can work out various strategies at his leisure.
A good demo account simulates trading in all details. It offers complete access to the trading platform. This allows traders to deal directly with the trading platform and find out how it works and which tools are relevant for trading.
It is also possible to go through the different positions that can be created with the Libra. It is particularly important to use the demo account when developing a strategy. Here traders can try out how the positions develop.
There are some brokers that offer social trading. This is the option to be able to copy portfolios from other traders. So if an experienced trader invests directly in the Libra, this position can be copied. This may be interesting for beginners in trading who have not yet had any experience. They can thus observe how experienced traders deal with trading Libra, which safeguards they carry out and how high the leverage that is used.
Buy Libra Coin via a marketplace or a stock exchange
Buying Facebook Libra will also be possible via a classic stock exchange or a marketplace for digital currencies. But even here it is not yet known when a purchase will be available. This variant is particularly interesting for buyers who are also very interested in the technology behind the offer. This can be checked and used if the coin is used for transactions. Basically, it is possible to simply store the purchased coins in the wallet and wait for the course to develop. However, this is not necessarily recommended, especially not if it is a wallet that is kept online.
If you follow this plan and want to put together a longer-term investment, you can buy the Libra Coin and then park it on an offline wallet. There are different variants:
- Desktop Wallet
- Paper Wallet
- Hardware Wallet
The key that is used for a wallet is only available to the user. However, hackers have always had success stealing cryptocurrencies through a hack in the past. This can usually only be avoided by storing it in a hardware wallet or a paper wallet. So far it is not known what options will be available for Libra.
What is Libra based on?
Buying Facebook Libra can be seen as a pure investment. But it is also quite possible that the investor or buyer would like to know what the currency is based on, what technology and what benefits it brings. This can also affect the exchange rate, which is of interest for the purchase of the coins. At the base one speaks of the three pillars of Libra. These three pillars are made up as follows:
- Blockchain: As with many digital currencies, Libra is primarily the blockchain that is important for users. The system is often used for the development of cryptocurrencies and Facebook also uses this proven variant. The experts who were promoted by Facebook for the development of Libra act here with some technical advantages, through which transactions are to be processed quickly and cheaply.
- Reserves: What does a digital currency need for actually reserves? Even though it is usually a decentralized monetary system, hedging can still be an advantage. With the Facebook currency, the intrinsic value is an important factor. Here the company secures itself with raw materials, currencies and also shares.
- Community cohesion: The community itself is an important pillar for every digital currency. Libra offers this with the Libra Association. The companies that invest in the project form the basis of the community.
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Buy Libra Coin - how can the course develop?
So far, the estimates regarding the course of the Libra have been pure forecasts. The reason for this is that this is a coin that has not yet been found on the market. Publication is planned for 2020. It is only from this point in time that the currency rate develops. Historical data will therefore be a long time coming. This makes it difficult to make a decision whether to buy the Libra. A look at other digital currencies shows that the price developments here are characterized by strong liquidity and there are always strong fluctuations.
With the publication of Bitcoin, the basis was created. While investments in Bitcoin were initially possible with amounts of just a few US dollars, the price is now clearly in the four-digit range. However, the information that is released to the public even before a currency is published often has an impact on the course. Facebook repeatedly points out that the Libra should develop into a global currency. If this goal is achieved, the community will be large - as will the areas in which the coins are used. Of course, this can be a great advantage for the course itself. So far, however, it has only been possible to speculate on the extent to which the currency will actually achieve this goal.
One criticism regarding the course, however, is that it could already start at a special rate. In this case, strong increases are no longer to be expected.
The investors behind Libra
Within the framework of the information and notes that Facebook publishes again and again in relation to the digital currency, there are also references to the investors who are already involved in the project with money. If you want to buy the Libra Coin, you should also be interested in the structure behind the project. In the meantime, some names of investors have come to light, which are mentioned again and again. These names are and others:
However, Libra must ask some criticism before the publication. France and Germany, among others, point out that a digital currency from a private company speaks against the basic idea of cryptocurrencies. These criticisms cannot be dismissed out of hand and have also prompted some investors to re-examine their participation in the project. The first resignation was announced by PayPal. This means that the payment service provider is no longer part of the community and investors.
In October 2019, other names became known, which have also dropped out. These include Stirpe and eBay as well as VISA and Mastercard. With these companies, Facebook is losing an important part of its community for its digital currency. This affects not only the financing, but also the course. If investors withdraw before the publication, this can increase or decrease the price. In any case, the currency will attract even more attention.
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Libra brings its own wallet with Calibra with
The wallet is an important factor when buying Libra, and its importance should not be underestimated. Many cryptocurrency users like to use a specific wallet and have had good experiences with a provider. It has become known that Libra will bring its own wallet. What does this mean for buying the tokens? If you decide to invest, download the app for the wallet. The app itself is already in development, but cannot currently be downloaded to the smartphone. However, there is already initial information about how the app is structured. Experts believe that Facebook stays true to its own style. One of the company's big goals is to provide its users with an intuitive experience. This means that even without much experience, they know directly how to use the app.
The app will be comparable to WhatsApp. With a few simple steps it is possible to send Libra to friends and relatives. These receive the cryptocurrency within a short time. Investors are concerned about data protection, which has proven to be justified in the past. There have already been some scandals that have caused unrest on Facebook. In fact, the company points out that the wallet is not connected to any of Facebook's applications - until the user creates a link. To what extent the use of another wallet is not yet known.
These advantages bring Libra with
Buying Libra will be a matter of interest for many users, how the digital currency developed. Basically, however, it is important to know the advantages of a digital currency. The advantages of Libra are broad:
- high speed
- no mining
- large target group
One of the most important factors in Regarding a cryptocurrency is the speed of the transactions. Bitcoin, for example, is repeatedly criticized for the fact that the release of the transactions takes too much time. Facebook wants to start here and offers a high speed. Users should be able to make payments in a matter of seconds.
Mining is also a point that keeps worrying about digital currencies. If you want to make money from mining with Bitcoin, you have to be equipped with extensive technology today. This is not necessary with Libra, since there is no mining at all. The point is to be seen as one of the advantages of the currency.
The target group at Libra is also considered very large. It is not for nothing that Facebook speaks of a global currency and wants to reach as many people as possible. It can therefore be assumed that the currency will reach a very large target group and will therefore also be widely accepted.
The advantages mentioned are based on the information that has become known so far. It is not known to what extent these can really influence the price and in this context also influence the purchase or sale.
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These disadvantages bring Libra with
Even if the cryptocurrency is not yet on the market, a lot of information has become known. This does not only include advantages, there are also disadvantages. Among other things, Bitcoin should be mentioned in this context. The original cryptocurrency hangs like a big shadow over the altcoins. The development of the course to an impressive height has not yet been achieved. Further disadvantages are:
- Censorship binding
- Legally binding
- Value appreciation limits
Cryptocurrencies should act decentrally and thus stand out from classic currencies they are not subject to censorship and are not influenced by a company, banks or the state. However, since Libra is developed and published by Facebook, the initiator is a private company. Censorship can certainly arise in this context.
The mentioned disadvantage with regard to censorship can also be named with regard to the law. Facebook is known and subject to laws. This also applies to the company's offers and subsidiaries. Therefore, the Libra Coin may be affected by legal aspects, which can severely limit its flexibility.
As mentioned briefly, Facebook is interested in publicizing the coin before it is published. This can entail entering the market with a very good price. In this case, the increase in value is limited.
Conclusion: Buying Libra can be worthwhile
Buying Libra Coin or not? With 2020 approaching, the question arises as to what extent the purchase of the digital currency is worthwhile or not. Making a decision before a cryptocurrency is released is not easy. At the same time, however, it is an advantage for investors, traders and prospects to already know the advantages and disadvantages and to be able to assess whether the currency is suitable for a purchase.
The purchase itself can be carried out in various ways his. In addition to the direct purchase on coin exchanges, it can also be assumed that the CFD trading with the Libra Coin is carried out. However, it is not yet known here which brokers will include the cryptocurrency in their offer. Since there is already great interest in the Facebook currency, the purchase may be a good investment.
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