Facebook Will Launch Cryptocurrency Diem In 2021 To Compete With Bitcoin, Dogecoin & Etherium

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Facebook is preparing to launch its own cryptocurrency named ‘Diem’ in this year (2021). Let us know that in the year 2019, Facebook had intended to launch this cryptocurrency under the name Libra, but now its name has been changed.

Media report social media giant Facebook is going to debut in the cryptocurrency world. Facebook is preparing to launch its cryptocurrency Diem in this year (2021). Let us know that in the year 2019, Facebook had intended to launch this cryptocurrency under the name Libra, but now its name has changed. Through Diem, Facebook wants to revolutionize the fintech space and the company says that transferring money from this cryptocurrency will be as easy as sending photos.

Also Read: Best 10 Penny Cryptocurrency Stocks That Can Make You A Billionaire In 2021

Let us know that Facebook has made this announcement at a time when the price of Bitcoin is constantly going down. Bitcoin prices have suffered a setback since the announcement by Tesla owner Elon Musk to stop the purchase of Tesla cars through bitcoin at the moment. On the other hand, Musk has spoken about working in DogeCoin, and has also hinted at cryptocurrency mining. That is, you can bring your own cryptocurrency.

Bitcoin and Dogecoin are going to get a tough fight with Facebook’s Diem

Let us know that since the time of the Corona epidemic, the word ‘cryptocurrency’ has been heavily capped in the global market. The spread of viruses and artificial intelligence around the world created digital transformation, leading to increased use of e-commerce transactions between consumers and business giants. Bitcoin, DogeCoin and Ethereum dominate the cryptocurrency market over other digital currencies. Now Facebook is ready to strike like this.

To know about Facebook’s cryptocurrency Diem

Facebook can launch its cryptocurrency in two sets. One of these will be a multi currency coin and the other set will have a specific face value in dollars and euros. The transfer fee on money transfer through Diem will be very low, so that a large number of people will be attracted to this currency. Facebook will launch Diem in association with its digital currency project group Diem Association. It would not be wrong to say that as soon as the Diem is launched, big exchanges such as Binance

, Coinbase, WazirX will be the first to list this coin on their platform.

Also Read: Thinking Of Investing In Cryptocurrency? So First Take The Complete Knowledge Of Crypto

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