Facebook Coin is going to be a new cryptocurrency, which can be more reliable and trustable than Bitcoin. Facebook is secretly launching it very soon.
Facebook is working to take an edge over Bitcoin by making their own cryptocurrency which is only accessible after high-security clearance. Facebook has not been publically announced it but the New York Times has published an article confirming the report. It is going to be called Facebook Coin.
It is big news for all the cryptocurrency miners all around the world. As per people outside and inside who recently talked to the New York Times has told the following things.
Facebook Coin will be more stable than Bitcoin
Facebook’s own cryptocurrency will be more stable than Bitcoin and other cryptocurrencies. Meaning the prices will never fluctuate like bitcoin.
It is created by a highly secret team at Facebook
About 50 engineers are currently working on this project under high security and the project still remains secret to many.
Facebook Coin or Facebit can be traded, bought or sold in the market easily
It means that it this coin can be used as the “Real” money, People had trust issues related to Bitcoin as no one knows where is the origin of it but with Facebook, people have higher trust on the product despite its privacy issues.
It is Scheduled to launch by the end of 2019
It will be launched in 2019, probably by the end of this year.
Furthermore, Facebook has been crowdfunding 1 billion USD for this project recently.
Facebook Coin vs Bitcoin
Keeping the price fluctuation of Bitcoin in mind, the Facebook coin is clearly going to win this war, if they succeed to stable the price they’re offering.
Seeing the previous trends on Bitcoin, people have started to lose hopes in Bitcoin as they’re vulnerable about the price which falls down within hours making people lose all their money.
Let’s wait and hope that Facebook comes forward with something more solid, secure and profitable to beat Bitcoin.