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Facebook Libra Coin: What is it, How will it work and What It's Risks

Facebook Libra Coin: What is it, How will it work and What It's Risks?

Introduction

Facebook Libra Coin is a cryptocurrency that
will be integrated into Facebook.It will be used as a means of payment within the app and on the platform's website. 

Facebook has released a white paper for the project and has also released a cryptocurrency called Libra.


1. What is Facebook Libra Coin

   
    Facebook Libra Coin is a cryptocurrency that Facebook is buil. It is a cryptocurrency that will be used in a Facebook messenger app and will allow people to send money to each other for free. 

The coin will be backed by a basket of currencies, including the US dollar, Euro, Yen, and the Libra unit. It will be run on a blockchain technology and will have a value of one Libra unit.

 Facebook is hoping that people will use the coin as a way to send and receive money, which will be free from transaction fees.

 The coin will be able to be converted into the four different currencies mentioned above.



 2. How will Facebook Libra Coin work?


   Facebook Libra Coin is a cryptocurrency used to make payments and transactions on the social media platform Facebook.

 It is a digital currency that makes it possible for people to send and receive money from each other. 

The currency will be based on the Blockchain, making it decentralized and private. Facebook Libra Coin is a stable currency that is not subject to the volatility associated with other cryptocurrencies. 

It is backed by the value of the US Dollar. 
The coin has a fixed supply of 21 billion coins, with a maximum coin supply of 5 billion coins.


3. What are the benefits of Facebook Libra Coin?


   Facebook Libra Coin is a cryptocurrency created by Facebook that allows users to buy and sell goods and services through its platform. 

Facebook Libra anyone in the world is able to use with an already existing infrastructure. and is not controlled by any central bank. 

The currency is backed by a basket of currencies including the US dollar, euro and Japanese yen.



4. What are the Risks of Facebook Libra Coin?


    Facebook Libra Coin is a new cryptocurrency that Facebook launched in 2020. It is available for individuals and businesses to use on their platform. 

The coin will be decentralized, i.e. it is not controlled by any government or corporation. The coin is backed by Facebook's own currency, called Libra. 

The coin is a stablecoin, which means it is tied to a basket of currencies, so it is not affected by the volatility of other cryptocurrencies. 

Facebook Libra Coin will be a global currency and will be mainly used for small transactions. It is also a currency that is backed by the Libra blockchain, a digital ledger that records transactions. 

The risk of the Facebook Libra coin is that it is not able to be used as a currency in some countries, as it is not legal tender in some countries, such as the United States. 

The Facebook Libra coin is also at risk of being used for illegal purposes such as money laundering.

 The Facebook Libra coin also runs the risk of becoming more expensive than other cryptocurrencies.



Conclusion


   We hope you enjoyed our blog on what is facebook libra coin. Facebook libra coin is an international digital currency. 

You can earn it by playing games and using it to buy goods or services. It is a stable store of value that can be transferred between digital wallets. 

There are plans to have the currency be used in Facebook Messenger, WhatsApp, and Instagram. You can learn more about it at facebook.com/libra.



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