How to Buy Diem (formerly Libra) 2021? Our guide to buying Diem safely & cheaply!
10 Stars
The currency formerly initiated by Facebook as Libra has been called Diem since 2021. It is supposed to become a stable currency and not attract speculators.
The ambitious goal is to create a global currency that is built on the blockchain and can be used as a real means of payment without the risk of a decline in value.
Buying Diem: What should you look out for to buy Diem cheaply & safely?
Diem (DIEM) borrowed from the Latin "the day" was created from the coin "Libra" at the end of November 2020. Diem is a complementary currency created by Facebook. The coin runs under the subsidiary Diem Association. However, the coin is not available on Facebook. You should pay attention to the following points when buying Diem so that nothing goes wrong:
Where is the best place to buy Diem?
Currently, there is no broker that offers Diem. Once the coin is available, it is expected to be available on different crypto exchanges. As Coinbase is a member of the umbrella organisation Diems, it is very likely that it will be one of the first exchanges on which Diem will be available.However, it is expected that this currency will be available on a wide variety of exchanges, as as many users as possible are expected to use the currency.
It is therefore likely that Diem will also be available on providers such as eToro, Plus500 or Binance. When choosing the right broker, investors should look for trustworthiness, fees and a user-friendly trading platform.
A provider that best balances these characteristics is eToro.This provider is subject to strict regulations, is often cheaper than other crypto exchanges and can score points with a user-friendly trading platform. Once Diem is available for trading, eToro could be a good provider for this cryptocurrency.
Do I want to hold Diem for the long term or trade it actively?
Due to its orientation as a stablecoin with a peg to the dollar, Diem is probably rather unsuitable for active trading. Due to the peg to the dollar, the Diem exchange rate develops in line with the dollar exchange rate. Since it is only subject to relatively small fluctuations, Diem is more suitable for use as a means of payment.
Users can use the cryptocurrency for purchases in online shops or for transactions with friends. Nevertheless, even stablecoins can experience price fluctuations, so the big question is how well the Diem exchange rate can reflect developments in the dollar. With other stablecoins, such as Tether, it has happened in the past that the prices of the cryptocurrency and the associated fiat currency have decoupled.
In rare moments, active trading of Diem can possibly be worthwhile. Fundamentally, there are other currencies in the crypto markets that are more volatile and therefore more suitable for active trading.
How does a Diem wallet work?
At the moment, there is no conclusive information on Diem wallets. However, since Diem is a cryptocurrency, it is likely that these are "normal" wallets. These wallets can be understood as an account or a wallet. With a wallet, users can receive, store and send Diem.
Each wallet has a unique "public key". This can be understood as an account number. In order to gain access to the wallet and make transactions with it, investors need the "private key". This can be understood as a password. Most likely, the Diem Wallets will be integrated into the Facebook services so that investors can easily send money via the Facebook platforms at any time.
Integrations with Instagram, Facebook and WhatsApp are conceivable.As soon as the coin is traded on crypto exchanges, investors can also use the wallets of the respective exchange. The provider eToro, for example, offers an integrated wallet so that investors no longer need to create their own wallet.
Is it worth investing in Diem?
From a financial perspective, the gains with the cryptocurrency Diem are likely to be relatively limited. As it is a stablecoin, the development of the Diem exchange rate is linked to the development of the dollar. If we assume a 100% coupling of the price, the fluctuations are identical to those of the dollar.
This also means that the profits from diem trading are comparable to those from dollar trading. For price speculators, an investment in Diem is therefore probably rather unsuitable.Nevertheless, an investment in Diem can be worthwhile. Since this currency will be integrated into Facebook's eco-system, the coin can probably be used for purchases on the platform.
In addition, transactions between friends may be possible very cheaply and quickly. Converting euros or dollars into diem may therefore be worthwhile for many people.
What is Libra?
Libra was the original name of a cryptocurrency that was to be developed by Facebook, among others. In the meantime, however, the project has been renamed Diem and the organisation's headquarters moved from Switzerland to the USA.
The Diem Association currently consists of 27 members who are working on the development of the cryptocurrency. Among the members are various companies from the fields of technology, payment processing and non-profit.
The aim of this project is to create a stable cryptocurrency that can be transferred quickly and cheaply between two parties. Price stability is to be ensured by depositing fiat currencies as collateral for the cryptocurrency. The value of Diem is to be linked to the dollar exchange rate.
The project holds great potential for Facebook in particular.
The integration of a simple, fast and cheap payment option into Facebook's eco-system can make the company an important player in the field of payment processing.
With Diem, for example, purchases directly on Facebook, Instagram or WhatsApp are conceivable. Money transfers between friends and relatives could also be easily handled via Messenger.
Insiders expect the currency to start with a pilot project as early as January 2021. As of today (20.07.2021), however, only small amounts of code have been published and the currency is not yet available for trading. Nevertheless, a first project can be expected soon.
Diem is one of the most interesting projects in the crypto sector for the next few years, as an integration into the Facebook network would go hand in hand with an enormously high adaptation rate. However, due to its conception as a stablecoin, investors cannot expect enormous price jumps like with other cryptocurrencies.
Our broker and exchange comparison - buy cryptocurrencies with the lowest fees:
 | Trade real cryptos and crypto CFDs |
 | Low fees |
 | Broker fully regulated |
 | User-friendly platform 0% commissions Deposit from 20€ |
 | Good selection of cryptocurrencies |
What exactly is Diem?
Originally, Facebook wanted to launch its own online currency in 2020. The exact date for the release of Diem has not yet been set, but now a release in 2021 is being targeted. For this, the world-famous social network brought financial institutions, traders and also government representatives on board.
At first there was speculation that the currency would be called Facebook Coin, then it was decided to call it Libra, but this changed at the turn of the year 2020/2021: After extensive changes to the coin concept itself, the new coin is now called Diem!
More than 27 partners are to provide more than one billion people with access to the new cryptocurrency Diem. This is equivalent to almost one in seven people worldwide, which means that if these plans work out, we can talk about another unofficial world currency.
Facebook's wide distribution certainly plays a central role here, even if the currency is now organised relatively independently of Facebook. It will not be issued by the internet giant, but by the Diem Association based in Switzerland.
Facebook nevertheless remains a strong partner and could closely integrate the currency into Instagram and Whatsapp. Facebook and the Diem Association are focusing on developing and emerging countries. In these countries, cross-border money flows are often fraught with various pitfalls - in most cases to the detriment of the citizens. Diem is intended to circumvent exchange rates and other problems of the market and to allow a problem-free cross-border flow of money in Africa, for example.
Transaction fees could thus be avoided in the future. For the population of developing countries, Diem offers a completely new freedom of payment, which will also be possible across national borders.
How to buy Diem with Euros? Diem buying guide for beginners with eToro:
We now explain how to buy Diem. We use the broker eToro for this, as it offers the advantage that you can trade both real cryptocurrencies and CFDs - Etoro combines the advantages of a broker and those of a crypto exchange.
Note: Diem is currently not available at any crypto broker, as it is a relatively new cryptocurrency. However, as the price has risen extremely in recent months and demand is correspondingly high, we are sure that eToro will soon add Diem to its range. Once this happens, you can buy Diem on eToro with the help of our guide.
First step: Registering with a broker or crypto exchange
First you have to register with eToro. To do so, click on the following link to get to the registration form.
You will then receive a verification e-mail in which you simply click on the link to confirm your e-mail address.
Second step: top up your account
The next step is to top up your account with money so that you can buy Diem in the future. To do this, click on the "Deposit money" button at eToro.
Then you choose the amount and the payment method you want to use to deposit and click on the "Send" button to deposit the amount.
Buy Diem with credit card, PayPal, bank transfer and more
In our example we show the purchase with credit card. However, eToro also offers other ways to deposit:
Payment method | Possible |
|---|---|
Buy Diem with bank transfer | ok |
Buy Diem with a credit card | ok |
Buy Diem with Neteller | ok |
Buy Diem with Skrill | ok |
Buy Diem with PayPal | ok |
Buy Diem with online banking | ok |
Buy Diem with Rapid Transfer | ok |
Buy Diem with Sofort | ok |
Buy Diem with a debit card | ok |
Third step: Buy Diem online with euros
Once you have funded your account on eToro, you are ready to buy Diem. To do this, we click on the search field at the top and enter "Diem". Then we click on the "Trade" button.
The purchase window then opens. Here you have the following options:
Buy or sell: If you want to buy Diem, click on "Buy".
- Trade or order: Here you can choose whether you want to execute the trade immediately (trade) or with a time delay (order).
- Amount: How much diem you want to buy
- Stop Loss and Take Profit: At which loss or profit the position should be sold automatically.
- Leverage: With what leverage you want to buy Diem. With leverage X1 you buy real diem, with leverage X2 you buy leveraged diem CFDs.
After configuring all options, click on the "Open Trade" button to complete the purchase.
The purchase of Diem is now complete!
How does Diem work?
Like Bitcoin, Diem is based on blockchain technology. Unlike conventional cryptocurrencies, however, Diem is supposed to manage without any major price fluctuations.
To achieve exactly that, Diem is backed entirely by a reserve fund of tangible assets such as stable shares, real estate and the stability of the US dollar. The "mining" known from other online currencies does not work with Diem, which is intended to avoid inflation.
These points make Diem uninteresting for future speculation. Control over Diem does not lie with Facebook, but with the newly founded Diem Association, whose primary goal is to ensure the greatest possible stability of the virtual currency.
Each founding member will have a vote in future ballots. So in addition to Facebook, Visa, Spotify, Coinbase and Uber are also on board the new cryptocurrency. Ebay and Booking.com are also said to be aiming for a partnership. So a very solid foundation has already been laid here for the future, which should help Diem to spread quickly.
As with Bitcoin and the like, payment transactions are processed via a decentralised infrastructure to increase security. Regulation is therefore not carried out by a single authority.
Additional information
Facebook has founded the subsidiary Novi Financial for payment transactions. Among other things, this is to ensure that future transactions remain strictly separated from all other Facebook processes.
In this way, it should not be possible to draw conclusions from payments to a specific Facebook user account. However, the payments are still stored on the blockchain. This also happens with other cryptocurrencies such as Bitcoin and is necessary to carry out the transactions.
These are publicly visible to all users; however, the transactions are encrypted. This means that no conclusion can be drawn between a transaction and a user.
The Diem Foundation earns money through interest on the reserves that are created from the money that users deposit in the future.
This income is to be used for the further spread of the currency and for the operation of the technical infrastructure. In addition to the peg to the US dollar, the safe investments of the Diem Foundation should ensure a stable exchange rate for Diem. If this works, Diem will have a major advantage over bitcoin and other major online currencies, as it would be useful for everyday use. However, for many people who use cryptocurrencies as an investment opportunity, this is a problem.
How can the Diem Coin be traded?
It is not yet possible to say for sure which trading platforms will list Diem in the future.
However, it is very likely that Diem will also be tradable on the online broker eToro.
Since Coinbase is a founding member of the Diem Foundation, the coin will most likely be tradable there as well. Furthermore, the currency could also be traded at Binance or, for example, the broker Plus500.
To buy Diem, you will of course need an eToro user account. To do this, you need to register and verify your account.
Paypal or a bank transfer are also offered as deposit options. Now you can trade your fiat currency (in this case euros) for the diem tokens.
The acquired coins can now be withdrawn. It is advisable to store them in a secure wallet to protect them from unauthorised access.
It is worth reading the comparison of the best wallets on our site.
In addition, it is advisable to open an account with a trader right now and get to grips with the issue. Because there are many other cryptocurrencies besides Diem.
The familiarisation phase with the best traders is short, but it is advantageous to take some time and inform yourself thoroughly.
Should you buy Diem or not? Our reasons for buying!
Diem is scheduled to launch in 2021 and will unfortunately not be tradable before then. So you can't invest in the token yet. The Diem Foundation and Facebook have set themselves the goal of making Diem a stable coin.
This is an online currency that is stable in relation to a fiat currency (euro, US dollar, etc.). Diem will therefore be exchangeable for a predefined monetary unit and will not be exposed to price increases. For this reason, potential investors cannot expect much profit from this cryptocurrency.
This is of course important and desirable for a rapid worldwide spread, as the currency can thus also be used in everyday life. Bitcoin and other online currencies are hardly suitable for everyday use due to the sometimes high and rapid fluctuations. Accordingly, it does not make sense for investors to own Diem, as you can then just as easily invest your money in euros or another currency.
Moreover, there will be no interest on Diem whatsoever, as is sometimes the case with bank accounts. The interest on a conventional bank account is currently very low, approaching zero, but this may change again in the future. With Diem, all interest is transferred to the Diem Foundation and the partner companies. Certainly, the interest in the cryptocurrency would be even greater if positive interest could also be earned with it.
On the other hand, Diem is the most reliable stable coin cryptocurrency to date, as many international companies are involved in the project. They have a reputation to lose and will therefore make sure that the Diem Coin project starts trustworthy and secure. So you can already assume that this token will be stable and popular.
So it may well be worth investing, even if you can't expect any profits as a private investor. In the long term, one can profit from the rapid spread and worldwide possibilities of use. Especially exchange rates between individual countries would no longer be an issue for people in developing and emerging countries in the future.
Diem Buy or Sell? Our pros & cons analysis:
Pros
Cons
Diem forecast - will the coin become a global currency?
In principle, Diem has very good prospects for the future, as the coin is supported by many well-known companies.
However, the prospects are not equally good in all areas. It was already explained in the previous paragraph that the cryptocurrency will remain stable for a long time and that strong price fluctuations (both positive and negative) are not to be feared.
In many developing countries, central banks sometimes have massive problems in fulfilling their actual duties. In addition to ensuring that the banknotes are counterfeit-proof, this also includes ensuring that the value of the respective currency remains stable.
They are thus responsible for an orderly monetary policy within the country. Price stability and inflation are other important points that can quickly become problematic, especially in developing and emerging countries.
On the one hand, Diem would be more stable than the official currency of the country, but on the other hand, the state thus loses control over inflation, which is very important for export-dependent developing countries.
So the big question is whether the coin will be allowed in the target markets at all, precisely because of the problem of losing control over important monetary instruments.
What can still happen
Facebook penetration in emerging and developing countries is now at a similar or even higher level than in developed countries. However, it could be a thorn in the side of the respective local governments to hand over part of the control over the financial market in their own country to a foreign company.
Nevertheless, it is unlikely that the government of Venezuela, for example, could enforce legal consequences against Diem. On the one hand, this would harm its own people. On the other hand, it would hardly be possible to ban the network completely because of Diem's decentralised blockchain. So, overall, the prognosis for Diem can be described as very good.
Well-known companies have joined forces and want to found a secure, price-stable online currency. The special advantages of the token, however, relate primarily to developing and emerging countries such as Argentina or Venezuela. For the population there, Diem should have great potential. Diem could be worthwhile especially if you want to send money to such countries or are planning a trip there.
Should you buy Libra or not? Our pros & cons analysis:
The cryptocurrency Diem comes with some pros and cons. In this section, we take a closer look at the advantages and disadvantages of Diem so that investors know whether Diem is suitable for them.
The biggest advantage of Diem is that Facebook, a very large corporation, is behind the project, which can ensure that Diem is widely adapted. Cryptocurrencies often have the problem that they are only used by a relatively small number of people.
Due to the enormously high number of users worldwide, a high adaptation rate is conceivable for Diem.
In addition, this cryptocurrency has a concrete use case. The aim of the currency is to enable fast and cheap transactions. Users can use it to make transactions quickly and easily. Be it for online purchases or as a simple transaction between two friends. By linking it to the value of the dollar, price stability is to be guaranteed. For its purpose as a means of payment, this feature is of great importance.
However, the value stability makes Diem less interesting for investors. Especially in the field of cryptocurrencies, there are often large price jumps. There are many investors who have been able to achieve high returns in this area with a relatively small investment. With Diem, investors cannot expect such price jumps.
Another disadvantage of Diem is that this cryptocurrency is created and supported by Facebook.
This means that Diem is again relatively centrally organised. However, the core idea of cryptocurrencies, such as Bitcoin, is that no central player has control over the currency. Diem therefore does not correspond to the actual purpose of cryptocurrencies and there are critics who believe that Facebook is only developing this cryptocurrency to gain market share and to be able to collect even more customer data.
So we see that Diem has some advantages and disadvantages. Basically, this cryptocurrency can simplify transactions because sending and receiving money may soon be possible via Facebook, Instagram and WhatsApp. Nevertheless, many crypto-enthusiasts are put off by the strong connection between Diem and Facebook.
The goal of cryptocurrencies has always been to create a decentralised system that cannot be controlled by large companies or countries' central banks.
buy libra when - Why we recommend eToro:
Unfortunately, there is no confirmed information as to when Diem (Libra) will be available for trading. However, insiders assume that a first pilot project with Diem will start as early as this year.
The Diem Foundation is very reticent about the specific timing and scope of the project.
However, it can be assumed that Diem will soon be available from large providers such as eToro.
This is because this provider has a large number of customers and Diem is aiming for the widest possible distribution of the currency. It is therefore likely that the coin will be available on many trading venues.
Investors who do not want to miss out on anything should therefore already register on etoro.com now in order to be ready to buy at the time of the trading launch. With eToro, investors have a broker that scores with low fees and a wide range of functions.
In the area of bitcoin trading, for example, this broker only charges 0.75% of the investment amount as a fee.
For an investment of €100, this means only €0.75 in fees.
Compared to Coinbase, for example, this is significantly less, as this provider charges 1.49% in trading fees. In addition, Coinbase also charges sometimes high fees for the deposit. These are waived at eToro.
In addition, eToro's trading platform is equipped with a demo account. This allows investors to initially invest in cryptocurrencies without risk and familiarise themselves with the peculiarities of this market. Once Diem is available for trading, investors are better prepared for real trading.
We therefore already recommend eToro as a provider for buying Diem as soon as this cryptocurrency is available with this provider. At eToro, investors can invest in cryptocurrencies quickly, cheaply and securely.
How much are the fees when buying Diem?
Currently, Diem is not yet available on eToro. However, due to the high popularity, we assume that the coins will soon be available.
Accordingly, the fee table is intended to show how much costs will be incurred when buying Diem as soon as the cryptocurrency is added to the range on eToro:
- We buy €1,000 worth of Diem.
- We hold our Diem for 30 days and then sell it again
- For simplicity, we assume that the price does not change in the 30 days
With these assumptions, we now go through the fees of the largest providers:
providers | etoro | coinbase | Plus500 |
|---|---|---|---|
Deposit | for free | 3.99% | for free |
Purchase fees | 2.45% | 1.49% | 3.08% |
Holding fees | for free | for free | 0.05% |
Sales charges | 2.45% | 1.49% | 3.08% |
Payout | 5 USD | $ 0.15 | 1.9% |
Total fees | € 53.20 | € 68.24 | € 92.32 |
First surveys on the cryptocurrency Diem
Since Diem will unfortunately not be released until later in 2021, accurate comparisons with other currencies are not entirely easy at this point. A new survey by the US financial services company Jefferies in July 2020 came to the conclusion that most Facebook users do not trust the new currency.
A total of around 600 users took part in the survey, with 80% saying they think it is very unlikely they will ever use Diem. About 45% of respondents do not want to consider the token because they do not trust Facebook enough. Another 40% already have another online payment method they are happy with and for this reason see no need to use Diem.
At the time of the survey, however, Diem was still more closely enmeshed with Facebook. To dispel such prejudices, Facebook has handed over control to the Diem Foundation, giving the token relatively independent control.
How do customers want to use Diem?
Of the users who said they would use Diem in the future, around 12% said they wanted to use the cryptocurrency specifically to buy products and also services. 14% want to use Diem primarily for transferring money to friends and family (This is also a main concern for Facebook and an important core aspect of Diem). 15% want to use the token for both purposes.
The influence of Diem on other cryptocurrencies in general will be interesting. For example, equity researchers at Seeking Alpha are certain that Diem will help bitcoin to take off.
INTERESTED IN TRADING STOCKS? THEN YOU SHOULD READ THE GUIDE TO THE BEST CUSTODY ACCOUNTS AND SECURITIES.
The researchers also justify this with the fact that online currencies will increasingly move into the focus of the general public thanks to Diem. Facebook, with its enormous reach in almost every country in the world, is currently probably the best candidate for a successful launch. In recent studies, however, almost 50% of participants describe a lack of trust in the social platform. Due to recent data scandals in the USA and also in Europe, Facebook should try to make its data protection as transparent as possible.
However, the survey was only conducted in the USA. In emerging and developing countries, this topic might be of less interest to most users. A study on this would bring more clarity. The survey clearly shows that Facebook does not enjoy the greatest trust among many users. The company has already reacted to this by outsourcing to an independent Swiss foundation.
Libra Buy Paypal: Where to buy Libra with Paypal
As Diem (formerly Libra) is currently not yet available for purchase, there is also no option to buy with PayPal. Once Diem is available for trading, the cryptocurrency will likely be tradable on many crypto exchanges.
The best crypto exchange with PayPal as a deposit option is eToro. Many investors already have a PayPal account and want to use it to buy cryptocurrencies as well, because the buying process with PayPal is very easy and fast.
At eToro, investors have the option to use PayPal and can therefore start trading various cryptocurrencies in no time.
In addition to PayPal as a payment method, this provider can also score in the areas of trustworthiness, fees and functions. The broker eToro is regulated by CySec and must therefore meet strict requirements in order to obtain a licence.
These strict requirements ensure that crypto trading is possible safely on this platform.
Especially in the field of cryptocurrencies, this aspect is of great importance, as there are unfortunately many dubious providers here.
The purchase of cryptocurrencies is possible at eToro with fees as low as 0.75% of the investment amount. For an investment of €200 in Bitcoin, for example, only €1.50 in fees are due. Compared to other providers, eToro is therefore often cheaper. At eToro you notice that user-friendliness is clearly the focus of this provider.
The trading platform is intuitively navigable and attractively designed. Thanks to the demo account and the copy trading function, investors can gain valuable experience and automatically copy the strategies of successful and experienced investors.
Once Diem is available for trading, eToro is the best provider for buying this cryptocurrency. In addition to PayPal as a deposit method, eToro also impresses with low fees and an attractive trading platform.
Buying Libra offline possible?
The offline purchase of Diem (formerly "Libra") will most likely not be possible. However, since the cryptocurrency is not yet on the market, this is only speculation. However, we assume that the purchase will take place via crypto exchanges.
This type of sale has the advantage that the right amount of coins is available at all times and that investors can be sure that they will actually receive the coins they have bought. Offline buying is often only possible through buying from friends or strangers. The problem with buying from friends is that often the desired amount of coins is not available.
When buying from strangers, it is not possible to conclusively ensure whether it is a reputable provider.
Therefore, we generally recommend a regulated broker for the purchase of cryptocurrency. Our recommendation is eToro.
This broker must meet strict legal requirements in order to obtain a trading licence. Therefore, this provider can be classified as trustworthy.
Due to this trustworthiness, investors can be sure that they will really receive the coins they have bought.
In addition to trustworthiness, eToro was also able to convince us in the areas of fees and functions. Some of the fees are significantly lower with this broker than with the competition. In addition, eToro offers its users a demo account and the possibility of CopyTrading. With this type of trading, investors can automatically copy the investment strategies of experienced and successful investors. This makes investing even easier.
As soon as Diem is available for trading, we therefore recommend eToro as a broker for buying Diem.
Buying Libra anonymously possible?
Many investors value cryptocurrencies because of their anonymity. Therefore, the aspect of anonymously buying Diem (Libra) is also interesting. However, the anonymous purchase of Diem is not possible with any reputable provider.
The cryptocurrency Diem will be available for trading in the near future. Therefore, many investors are already thinking about the right provider for buying this currency. The anonymous purchase of cryptocurrencies is possible in principle.
However, this type of purchase is not recommended because the purchase is made through strangers or unregulated providers.
It cannot be guaranteed that investors will actually receive the coins they have bought. That is why we advocate buying Diem from a regulated provider. Here it can be ensured that it is not a case of fraud and that the buyers actually receive the coins.
Our recommendation for buying cryptocurrencies is eToro. This provider was able to convince us on several levels. The broker is regulated by CySec and can therefore be classified as reputable. This is particularly important in crypto trading, as there are unfortunately still many dubious providers. In addition to the high trustworthiness, the provider can also score with low fees and an attractive trading platform.
Crypto trading is possible at eToro with fees as low as 0.75% of the investment amount. Compared to the competition, eToro is therefore one of the cheapest providers for bitcoin trading, for example, as no deposit fees are due here either. This provider can collect additional plus points with its attractive trading platform. The platform is easy to navigate and therefore suitable for beginners and experienced investors.
If Diem is available for trading, we recommend buying from eToro, although this provider has to collect personal data. Buying from a regulated dealer is the best option for us when it comes to buying crypto.
Buying Libra without verification possible?
Buying Diem (Libra) is not possible with any reputable provider without verification. Regulated providers are legally obliged to verify the identity of their customers. This serves to protect the customer, the provider and society.
There are certainly providers on the crypto market who do not verify their users. However, investors should be careful with these offers, as the lack of this verification is an indication of an unregulated provider. Here, it cannot be ensured that the provider is reputable and that the customers also receive the coins they have bought.
Our recommendation for investors who actually want to buy Diem without verification is the provider eToro. This provider has made the verification process very simple, so that users can simply get verified via video identification. The entire process can be completed in no time at all, so investors can quickly start trading Diem.
In addition to the simple verification process and the high level of trustworthiness, the provider can also score points with low fees and extensive features. Therefore, we recommend eToro to investors as a provider for buying Diem as soon as it is available on the platform.
Buy Libra without registration possible?
Buying Diem (Libra) without registration is currently not possible with any regulated provider. Nevertheless, there are providers who have made the registration process as simple as possible.
At eToro, for example, users can register with just an e-mail address and a password.
For even faster registration, it is also possible to use an existing Google or Facebook account. This allows investors to register in the shortest possible time and start diem trading as soon as the currency is available for trading.
In addition to the fast registration process, eToro was also able to convince us in the areas of trustworthiness, functions and fees. The company can be described as reputable, as it is subject to the strict regulations of CySec. Due to these strict requirements, trading at eToro can be described as safe.
The account at eToro includes access to an attractive trading platform, with a demo account and access to innovative features such as CopyTrading. With the demo account, investors can gain risk-free experience and prepare themselves for trading Diem as soon as this currency is available.
CopyTrading makes investing even easier, because the trades of experienced and successful investors can simply be copied.
In terms of fees, eToro does not charge any custody account fees and also no fees for deposits. Trading in cryptocurrencies is possible from as little as 0.75% of the investment amount. The provider is one of the cheapest providers for bitcoin trading, for example.
We therefore recommend investors to buy Diem at eToro. We cannot yet estimate exactly when Diem will be available for trading. However, it is worth registering now so that investors are ready to trade on the day trading begins.
What are Libra CFDs (certificates)?
Libra CFDs or Diem CFDs are financial instruments with which investors can speculate on the price of this cryptocurrency without having to buy the cryptocurrency itself.
The term CFD stands for "Contract For Difference". This means contract for difference.
With a CFD, two parties conclude a contract whose value is based on the development of an underlying asset. In the case of a Diem CFD, Diem is the underlying asset.
If the value of Diem increases by 1%, the value of the CFD also increases by 1%. An example illustrates how this works.
An investor assumes that the Diem price will rise in the next few days. Because he does not want to register with a crypto exchange and also does not want to deal with the peculiarities of crypto trading, he opens a CFD position. Since he is betting on rising prices, he takes a so-called "long position".
The other party to the contract takes the "short position" and therefore bets on falling prices. The investor is right and Diem's price has indeed risen. Therefore, he now decides to liquidate his position. His profit is the difference between the price at the time of closing the position and the price at the time of opening the position.
The other party to the contract must pay him this difference. That is why these financial instruments are called contracts for difference or CFDs.
Buy Libra as a CFD or real cryptocurrency?
When investing in Diem (formerly "Libra"), investors are faced with the question of whether they want to invest in a CFD or whether they prefer to buy the "real" cryptocurrency. Both types of investment have individual advantages and disadvantages. We look at these advantages and disadvantages in this section and show for which investment type the respective investment type is better suited.
What are CFDsWith a Diem CFD, investors can speculate on the price development of Diem without having to buy Diem themselves. This type of investment has the advantage that investors do not have to deal with the peculiarities of "real" cryptocurrencies.
CFDs are widely used as financial instruments in other areas and are primarily used for price speculation.
In addition to being easy to handle, CFDs have the advantage that they can often be traded with leverage. This allows investors to use more capital than is actually available to them. This means that higher returns are possible. However, investors should note that the risk also increases when using leverage.
The final advantage of CFDs is that they are tax efficient. Profits from CFD trading are subject to capital gains tax. This amounts to 25% plus solidarity surcharge and, if applicable, church tax. When trading regular diems, the profits are subject to the personal income tax rate if the holding period is less than one year. For investors whose income tax rate is above 25%, trading CFDs is therefore worthwhile from a tax perspective.
However, the biggest disadvantage of CFDs is that investors only speculate on the price development and do not own real coins. When buying real diems, on the other hand, investors actually own these coins. For investors who actually want to use Diem for payment in online shops or as a general means of payment, it is therefore advisable to invest in the real cryptocurrency.
Moreover, buying the "real" cryptocurrency is suitable for long-term investors. Since cryptocurrencies are currently still considered private assets, capital gains are tax-free if held for more than one year.
However, investors should note that Diem (formerly "Libra") is a stablecoin. Its performance is therefore linked to the dollar, so investors should not expect big price jumps.
In summary, we can say that CFDs are better suited for investors who want to speculate on Diem's price performance. Investors who actually want to use the coins should resort to buying the real coins. One provider where both types of purchase will be possible once Diem is traded is eToro. With this provider, investors can buy "real" cryptocurrencies, but also trade with crypto CFDs.
What does 1 Libra currently cost?
Since Diem (formerly "Libra") is not yet traded, the price cannot be determined exactly at the moment. However, since it is supposed to be a stablecoin whose value is linked to the dollar exchange rate, the price at the start of trading is expected to be one dollar per coin.
Libra Trading - Should you hold Libra for the long term or trade it for the short term?
The cryptocurrency Diem (formerly "Libra") is suitable for active trading and long-term holding. Investors should be aware that Diem is a stablecoin. This means that the performance of this currency is linked to the performance of the dollar.
This is important for the specific use case of Diem, as this currency is actually intended to be used as a means of payment. Therefore, it is important to guarantee price stability.
However, price stability does not mean that there can be no fluctuations. Stablecoins also experience fluctuations, which investors can exploit to generate returns.
Another important aspect of stablecoins is that they do not necessarily reflect the developments of the paired value. This has been seen in the past with Tether, for example. It is entirely possible that the value of Diem could deviate from the dollar value in the short term in the future.
Holding Diem as a cryptocurrency over the long term may be worthwhile as part of a crypto portfolio. In the long run, Diem will be able to mirror the dollar exchange rate very well. Therefore, investors cannot expect big price jumps. Nevertheless, stablecoins are suitable as part of a crypto portfolio in terms of a liquidity reserve.
With the portfolio share of stablecoins, investors can practice risk management and adjust their portfolio to the individual risk appetite. Stablecoins are also an excellent reserve that can be quickly converted into other coins. This allows investors to react quickly to changes in the market and take advantage of price developments.
In summary, Diem (Libra) is certainly suitable for long-term investors and active traders. However, investors should not expect extreme price fluctuations as with other cryptocurrencies, as this is a stablecoin.
Buy Libra shares: Another way to invest in Libra
The crypto market has grown tremendously in recent years. One of the most exciting projects in this area is Diem (formerly "Libra"). The project is mainly driven by Facebook and will be launched in the near future.
However, since many investors do not want to invest directly in Diem or other cryptocurrencies, the question inevitably arises whether investors can also invest indirectly in this growth market via shares.
At present, there is no crypto ETF or a large number of exchange-traded companies active in the crypto sector. A good possibility for an indirect investment in the crypto market is the share of the company Coinbase. Coinbase operates one of the most popular crypto exchanges worldwide and has been listed on the New York Stock Exchange since April 2021.
This exchange generates its income by charging fees. Trading fees are charged for every purchase.
If the demand for cryptocurrencies increases and with it the trading volume on the platform, Coinbase's revenues also increase. The Coinbase share is therefore a good way to invest indirectly in the crypto market.
It can be assumed that more exchanges and companies in the blockchain sector will go public in the future. In addition, there is always speculation about ETFs or other funds in the area of cryptocurrencies. However, until these are available for trading, the Coinbase share is probably the best way to invest indirectly in the crypto market.
How to sell Diem again: Our guide for eToro
Once Diem is found in eToro's range, you can easily buy and resell the cryptocurrency there. The steps here are similar to buying the cryptocurrency.
The first step is to log in to your eToro account as usual. You can do this either via your computer or via your smartphone or tablet. You can also log in via the app to sell diem. So you have several options.
The next step is to click on your portfolio. There you will find all the assets you have invested in on eToro.
Once you have clicked on the portfolio, you will get a list of all financial instruments. Select Diem and click on Sell on the right-hand side. 3.
As soon as you have clicked on Sell, a window appears again, just like when you bought the cryptocurrency. Here you can decide between an order and a trade. Then you enter the amount and click on Open Trade or Place Order. In addition, you can make further settings, such as the amount at which the position is automatically closed.
Where should one be able to use Dien Coin?
Diem is to become the first global money. The Facebook subsidiary Whatsapp will make it possible to send the currency via the chat client. How investors can profit from the potential of Diem and where they can initially buy Diem is now described in more detail.
As soon as the token is available, it can be traded via services of the Facebook universe. Since Facebook is planning the token as a kind of universal currency, it should already be certain that there will be very many different possibilities within the individual services. Because in addition to Whatsapp, the social network Instagram also belongs to Facebook.
It is also confirmed that investors will be able to trade Diem as a CFD via the Plus 500 trader after the launch. "Real" Diem will probably also be tradable via Bitcoin exchanges. However, this is a little more cumbersome. CFDs or even certificates are easy ways to trade Diem. But if you really want to own Diem, there is no way around buying "real" tokens. The coin is bought in the form of digital data. As with all other currencies, you need a wallet to receive and send Diem.
Other possibilities
Facebook will also offer other possibilities for this, such as the above-mentioned sending via Whatsapp. However, a wallet should also be worthwhile for Diem, as it can bundle all coins from different exchanges or portals. Security is also an important issue. If Diem is successfully used by many people, it stands to reason that hackers and thieves will try to profit from it.
Existing wallets such as eToro's place great emphasis on security and already have many years of experience with different coins that technically work very similarly to Diem. To learn more about wallets, it's worth taking a look at our review of the best wallets for cryptocurrencies. So it is currently impossible to say for sure whether Diem will be traded and with which providers.
Conclusion
Diem Coin Buy Conclusion - Our rating and recommendation:
Diem has certainly created the biggest buzz in the cryptocurrency world since bitcoin. The approaches are interesting and set it apart from other currencies. However, this has some advantages as well as some disadvantages that need to be considered. The most important advantage is that besides Facebook, other big companies like Ebay, Visa or Booking.com want to work with the token. Furthermore, Facebook is known worldwide and there are over one billion user accounts.
Diem, just like Bitcoin, will be based on a decentralised blockchain technology. This has the advantage that data does not have to be bundled at one point. In addition, Facebook is handing over control of the currency to an independent foundation in Switzerland. This is also positive, as it uses a neutral country with liberal laws. In addition, Diem is planned as a stable coin and is thus not subject to as much fluctuation as Bitcoin or other currencies.
Thus, the token can also be used well for everyday life and can spread quickly and represent a good alternative to traditional currencies. Facebook is targeting developing and emerging countries in particular, as there is often mistrust in central banks or political institutions there. Countries like Venezuela or Argentina are currently plagued by very high inflation rates. This results in a flight of capital by citizens into US dollars or euros.
Diem can play out its advantages in such countries and is likely to become a serious competitor for the national currency there. Whether the purchase will also be worthwhile in European countries remains to be seen.
However, large profits are not to be expected in any case. For that, users should rather turn to Bitcoin or TRX.
FAQ
You can basically distinguish between two forms of investing in altcoins: Speculating on prices via CFD brokers or buying a coin directly via a crypto exchange like Coinbase. CFD trading is available for Diem at the brokers mentioned in the article.
Unfortunately, buying Diem with PayPal is not yet possible.
If you only want to trade indirectly, you can also buy with your credit card at our test winner.
As a rule, crypto exchanges do not offer the payment option Paypal. CFD brokers such as our test winner are an exception. For Diem, we are not aware of any crypto exchange that accepts Paypal as a payment method.
Recommends the current test winner for Diem purchases, as Diem trading is particularly easy and secure with this broker.
Options brokers only use the cryptocurrencies as assets, while exchanges enable direct trading of the values.
So anyone who actually wants to buy altcoins will have to go through a crypto exchange.
We don't know: can Diem hold its own against its strong competitors? This question must be answered before we can say whether the coin will prevail and you can buy it. We recommend that you check this regularly if you want to buy Diem.
Not necessarily. No wallet is required for indirect trading
Diem is not built on ERC-20 and therefore cannot be held in your Ether wallet.
