Victoria Collier writes about how Facebook, as the first mainstream entry into cryptocurrency, has the potential to change the way the world spends money and reminds readers that this is a digital asset that must be included in financial planning and asset protection plans.
DECATUR, GA, August 5, 2019: Victoria Collier, co-founder of Red Feather Financial, has posted a new article on the firm’s website entitled “Cryptocurrency Welcomes A New Yet Very Familiar Face,” in which Ms. Collier talks about Facebooks entry into the world of digital currency.
Collier states, “We’ve all been hearing about cryptocurrencies.” She continues, “They’ve been around for a full decade, since 2009 when Bitcoin came onto the scene. For most people, cryptocurrencies have not been easy to wrap one’s mind around. It has taken years for regular investors to start delving into this new currency. And delve they have considering the fact that the value of one Bitcoin today currently hovers between $8000 and $10,000.”
As Collier points out, “Bitcoin was the first, but since its arrival, hundreds of new computer-generated monies have been born. There’s Litecoin and Etherium, Monero and Dash among others.” “And recently,” writes Collier, “a brand-new cryptocurrency was introduced. It’s one that’s coming from an enormously popular name: Facebook. Facebook just launched Libra.”
According to Collier, “There’s something different about Libra though, starting with the virtually captive audience of Facebook’s more than 2.7 billion members worldwide. And this very important distinction: while other cryptocurrencies cannot be cashed out for real money, Libra can.” She explains, “In other words you trade your In Real Life (IRL) currency for Libra. Then you can spend Libra worldwide for almost no fees. And, if you change your mind and decide it’s not for you, you can cash out for ‘real’ money any time.”
“Also, according to the reports,” says Collier, “Libra’s value will be tied to actual currency and backed by a reserve fund. This means Libra will offer users and investors more stability.”
Collier encourages a bit of caution as she says, “It appears that there will be many things to like about Libra that will appeal to regular folks who are not investors but are looking for easier ways to send and spend money. In fact, some say it might be very easy to spend money. There’s talk that Libra is expected to operate like a bank/mobile payment hybrid.” She adds, “With over 3 million businesses that are also on Facebook it sounds like it could be very easy to spend lots of money! It may be as easy to spend money as it is to send a text message.”
The entire article can be read at http://redfeatherfinancial.com/cryptocurrency-welcomes-a-new-yet-very-familiar-face/
About Dr. Sabrina Scott
Sabrina Scott learned about Veterans Benefits and Medicaid when her parents sought legal services for long-term care. Confident she could find ways to preserve her family’s resources and still get access to Government Assistance, Sabrina felt there should be more options than relying on welfare. As a result, Dr. Scott became an investment advisor representative who can make recommendations regarding securities and became licensed in insurance as well. She co-founded Red Feather Financial with Victoria Collier to help those who want to have a plan in place in order not to outlive their resources and who do not want to be a burden to their children.
About Victoria Collier
Victoria L. Collier, CELA founded The Estate & Asset Protection Law Firm to serve the legal needs of retiring individuals. Victoria is also Co-Founder of Red Feather Financial. At both firms WE BELIEVE that people should not have to lose everything they’ve worked a lifetime to earn and that every person is an individual who deserves respect and the highest quality of life possible, regardless of age or ability. We also believe that privacy and protection are the keys to personal peace. Victoria was appointed by Governor Perdue to the Georgia Council on Aging, 2010 – 2016 and was awarded Dekalb County Veteran of the Year, 2013. She is the author of 47 Secret Veterans Benefits for Seniors; Paying for Long Term Care – Financial Help for Wartime Veterans: The VA Aid & Attendance Benefit.
About Red Feather Financial
Red Feather Financial is an independent financial advisory firm born with a singular mission: to financially empower our clients and protect their financial future. Most people come to see us because they are worried about having enough money for retirement and long-term care costs. We help by showing our clients how they can leverage their assets in the most tax-efficient and cost-effective ways.