What is Libra | how it's worked | is it safe to use

Today I am going to talk about Facebook cryptocurrency which is named as Libra. We all heard about this currency, in this article I tell you that what is libra and how it's worked or is it safe to use.

What is Libra??

So the first thing we need to know what is libra. It's a digital currency by which we can use it to do transaction for different purposes for example paying Bill's,  shopping etc. Its not like a bitcoin. We all know that in bitcoin we invest money and behalf of this we owns profit or loss. 

So there is too much difference between bitcoin and libra. We all know that its a digital currency so we owns profit but it's not true. By libra we only do normal transactions as we do from the paytm, PayPal or Google pay. 

How it's worked

The blockchain of this currency was very simple. Like when we gone any tour whatever it was like America, Russia etc. So how we do transaction in these countries we go to money exchange services and exchange our actual currency into that currency that we need. for example if we go from America to Dubai what need to do for transaction we exchange dollars into drams so the whole working condition of libra is same as I tell in this example.

In other words libra is a currency by which we can convert our actual currency into digital currency and use it for different purposes. 

Is it safe to use

So second main thing about this currency that is it safe to use. As I tell in the recent part that we did not compare libra with bitcoin there is no profit and no loss it was only used for  daily routine transactions. So who use this currency. It's not any excitement by hearing about the launching of this currency. In all over the world there are too many peoples who dont have their bank accounts so this currency is very helpful for these peoples. Its not a great thing for those peoples who already use paytm, Google wallet etc. If we talk about is it hacked so my answer is I dont know. It was depend on the security policy of Facebook, and I did not trust on Facebook. 

What is Calibra??

So what is calibra. it is a wallet which is look  like Google wallet, by which we can buy libra currency and do transactions. The transaction speed is better then bitcoin, in bitcoin wallet we can do almost 7 transactions but in calibra we can do more then 7 transactions with the better speed as compared to bitcoin. 

Ebay, vodaphone, Visa,  Mastercard,  uber etc. are the partners of libra currency who gave power to this currency. They all give $10 million dollars to run this program. 

What is the future of libra cryptocurrency

So if we talk about its future so according my experience the Facebook has very big giant network so by considering this thing as the conclusion that the future of libra is glorious. Because of the Facebook's network it become very popular. Now we all know about libra but one thing in our mind is, what is the benefit of Facebook??

Facebook gains profit from the interest. In simple words when we do any international transaction we have to pay the interest. So by this technique Facebook earns profit. The interest rate of libra is very low as compared to other transaction tools which is pretty cool thing. 

Is this currency come in India

So Is it come in India. We all know that the cryptocurrency was banned in india so there is no chance that this currency launches in India. 

Conclusion:

So after learning about libra we go onto the conclusion. The result is that it was great idea but there is no excitement for those peoples who already uses paytm, Google pay or PayPal. The Facebook unveils its launching. Libra was launched in the earlier of next year. We so that it becomes helpfull to us. 

I hope you all know about the libra and it's working. If you have any suggestion leave comments below and stay tune with us for latest tech updates.

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