It is an era of digitalization. Technology around us has made our life so easy. We can easily get in touch with the people far away with just a click of a button. Apart from reducing the distance between the loved ones, digitalization has also entered now in the world of economy. Yes, you heard it right! Now money was also turned digitalization and Guess what? it is continuously winning the game.
Digital currency or cryptocurrency has gained the attention of a lot of traders, who now have focused on investing in cryptocurrency instead of paper currency. The reason is pretty simple. Cryptocurrency is very volatile in nature and it gives huge chances to its investors to become a millionaire but giving big returns for their investment.
There have been many cryptocurrencies in market in last one decade like Altcoin, Litcoin, Bitcoin, Ripple and recently launched Libra.
Bitcoin and Libra being the most famous have engaged people into heated argument that who is going to lead the way? Will Libra beat Bitcoin or will it be the other way round?
There is just one way to find the answer! Let’s have a look at the advantages and disadvantages of Libra and Bitcoin!
Advantages and disadvantages of Libra
One of the biggest benefits that make Libra lead the way is that it has huge support from most famous firms around the world like Uber, eBay, MasterCard, and PayPal among others. Being launched by one of the biggest social media platforms, Facebook is another added advantage.
Libra is so easy to use; you can do transactions and payments so quickly from your phone.
Another feature that differentiates Libra from any other cryptocurrency is that it is stable which is not the case with any other cryptocurrency. The reserve created by the Libra association helps in keeping the value of Libra cryptocurrency stable.
However, with so many advantages there is also a disadvantage that with so many shareholders of Libra, it is not possible to make changes in Libra quickly. At least two-thirds of the members must come to a united decision to initiate a change which is not possible.
There are also some doubts regarding privacy in Libra, thanks to Facebook who has already faced allegations of stealing data of its users in the past.
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Advantages and disadvantages of Bitcoin
The unstable and volatile nature of Bitcoin is a blessing in disguise as it has lead to filling the home of a lot of traders with money! People have more confidence and faith in Bitcoin despite its volatile nature as compared to other cryptocurrencies.
However, it also acts as a disadvantage as popularity and demand leads to hike the price of Bitcoin and blocks the traffic.
Another advantage is that it is not controlled by any third party and is free from any kind of rules and regulations. You can transfer as much amount you want to without the tension of getting charged a high fee.
Last, but not the least: Beware of Fraudulent!
Any sort of most popular, moreover as a brand new product that attracts within the focus of the realm, is that the protea for a distinct sort of bad person. you have got to be conscious, of circumstances after you see the offerings to require half in finance within the Initial Coin giving (ICO) or Libra coin pre-sale. The symbols are bestowed on the marketplace, not antecedently 2020, and every one varied different claims moreover as “profitable deals” disappear simply a heist.