Post
Topic
Board Speculation (Altcoins)
Re: - Is Facebook's new cryptocurrency safe?
by
tomahawk9
on 05/05/2019, 12:35:03 UTC
Depends on what you mean by "safe".

Given the centralized nature of FB, there's a high chance that they'll be keeping tabs on all your transactions thanks to this crypto sharing data of all your movements (as well as your personal info) to a central entity, then I wouldn't consider this FB coin "safe" since I don't know what this company can do with all my info. If you think "safe" means a crypto created by one of the biggest companies in the world, therefore, they won't scam you, then yes, it can be considered safe.

The question is: should I entrust my investments to this new cryptocurrency?
We don't even know if it's going to be a regular cryptocurrency or a stable coin pegged to the US dollar, if it's the latter then you won't be able to invest in it.