What is Diem

What does Diem actually do? Is Diem a good investment? Is Diem scam? Libra or Diem?

What is Diem

Table of Content

  1. Buy and sell Diem – Interesting facts about the new cryptocurrency Diem
  2. The Most Important Things You Should Know About Buying Diem Cryptocurrency
  3. What is Diem (formerly Libra)?
  4. Diem 2.0: a new concept
  5. How does Diem work?
  6. Where to buy Diem?
  7. Crypto Exchange
  8. Crypto Brokers
  9. Diem Coins
  10. Diem CFDs
  11. What is the Diem Wallet?
  12. Diem Course and History
  13. Diem price development in Q1 of 2022
  14. Diem Forecast: The Diem Future Prospects
  15. The biggest Diem criticisms
  16. Diem vs. Bitcoin
  17. Diem regulation and legal issues
  18. Advantages and disadvantages
  19. Tips for buying cryptocurrencies
  20. FAQ: Frequently asked questions about Diem

Buy and sell Diem – Interesting facts about the new cryptocurrency Diem

Diem is a cryptocurrency created by Facebook - so it is connected to Facebook as well as to WhatsApp. This means it has access to billions of users around the world.

Diem will also be the first global cryptocurrency that can be sent via WhatsApp, which is a major plus. Additionally, the Diem represents an important currency without risk of devaluation. In the future, several global companies plan to facilitate the creation and use of Diem. As such, the Facebook cryptocurrency has a great deal of potential.

We examined when and where you can acquire the new cryptocurrency, where the differences lie between Diem and Bitcoin, and whether Diem is worth purchasing.

what is diem mean

The Most Important Things You Should Know About Buying Diem Cryptocurrency

Diem was previously called Libra, and is also known as the Facebook cryptocurrency. Originally, Spotify, Uber, and Facebook were members of the Libra Association, which developed and launched Diem. It is anticipated that the cryptocurrency will be launched in 2021, and the currency will be available worldwide. The following information can be helpful if you are considering buying coins from Diem, formerly Libra:

What is Diem (formerly Libra)?

Market observers have already described Libra as a global currency, a global money, or a pseudo-Bitcoin. A large-scale adoption of cryptocurrencies around the world provided an additional impetus for launching a global coin like the Diem crypto.

Insiders had long speculated about a Facebook Coin. When Facebook decided to take this step, leading global brands such as PayPal, Uber, Spotify, eBay, MasterCard, and Visa were the first to be invited to participate in the project. Mastercard, Visa, and PayPal withdrew from the project because of regulatory concerns and objections, but others have continued to support it.

Diem is based on the technologies of blockchain that have led to the introduction of Bitcoin, Ethereum, BNB and many other cryptocurrencies. Diem is a stable coin with a reserve fund that is verified and audited unlike most other cryptocurrencies.

There are several factors that place Diem in a prime position to make a substantial impact on the global market. A great deal of attention was paid to the expectation that the Diem exchange rate would be devaluation-resistant. Should you be considering whether to purchase the Diem cryptocurrency, it is important to learn enough about the cryptocurrency and pay attention to all the details surrounding the purchase process.

Diem 2.0: a new concept

Although the Libra project has been criticized heavily, the decision to rebrand was a wise one. There was a significant threat to the stability of national currencies posed by Libra becoming an alternative currency.

As a result, rather than engendering resentment over such views, the Diem project chose to adopt a "basket of currencies" approach. The Diem will be paired with certain national currencies. Diem-USD, Diem-EUR, Diem-YEN, Diem-AUD, as well as a few others, will be offered.

Existing stablecoins pegged to national currencies are currently available in the cryptocurrency industry. Due to the involvement of funders in the Diem Association, Diem is expected to perform better than these alternative stablecoins. There is a great advantage to highlighting Facebook, Instagram, and WhatsApp's huge user bases around the globe. This high level of expectation drove the projections and likely led to many people purchasing Diem at launch.

is libra same with diem

How does Diem work?

Diem is based on the blockchain, just like other cryptocurrencies. As opposed to the constant fluctuations experienced by the major digital currencies, Diem is protected by a reserve fund. In order for new diems to be issued, a reserve fund must be established. In this case, additional diems are only created if new funds are aggregated for the new issue. Often, cryptocurrencies are criticised for being created out of thin air, but this will not be the case with Diem.

Most cryptocurrencies are created through the mining process. Diem, on the other hand, does not permit this, since coins can only be minted on the basis of a pool of funds provided by each case. Diem is controlled by the Diem Association and not by Facebook. The idea behind this is to separate control from the world's largest social media company.

Each founding member of Diem's leadership has one vote, as well. Each party involved, including Uber, Spotify, Coinbase, eBay, and the other parties involved, will only have one vote, so no one will be able to win a majority at any given time. Significant decisions are made by consensus.

In order to increase security and reliability, transactions are processed via a decentralized mechanism, as they are with other cryptocurrencies. As a result, Facebook's governance systems are separate from those of Novo Financial, the parent company of Diem. If you are surprised that your financial transaction is tied to your Facebook page, you should know that while the transaction will be on the blockchain, it will not be accessible to the general public.

Where to buy Diem?

To purchase Diem cryptocurrency, you should contact either a cryptocurrency exchange or a crypto broker.

How to buy diem

Estimated Cost


Estimated Total Time

5 min

What is necessary:

ID Card

E Mail

Phone Number

Payment Method

Tool: A cryptocurrency market.

Compare Cryptocurrency Markets

cryptocurrency market diem

Sign up for an exchange that offers Diem in one or more cryptocurrency pairings. Compare exchanges when buying Diem to find the lowest fees and the latest exchange rates. Note: Some exchanges require your full name, contact information, and ID before allowing you to trade.

Create an account


You must verify your identity and email address before setting up an account with an exchange. Have your ID and phone handy.

Make Payment

make payment

You can buy Diem directly with dollars, euros, pounds or any other currency of your choice if your exchange supports Diem. Some exchanges charge commission fees based on the amount of Diem you purchase, so be aware of fees before you make a payment. Credit card payments are usually the most expensive method of payment.

diem buy

diem coin buy

Identify the currency you wish to trade on your chosen exchange. Go to the markets section. Click on the buy Diem section and enter the amount of the paired cryptocurrency you wish to spend or the amount of the Diem you wish to purchase. Note: Before completing the transaction, carefully review the transaction details, including the amount of Diem you purchased and the total cost of your trade.

Crypto Exchange

If you are purchasing Diem from a cryptocurrency marketplace, you should see a price quote at the time of purchase to determine the expected value of Diem. Some marketplaces require you to register and verify your account before purchasing Diem. In order to purchase Diem, you may need to fund your account with fiat currency or another cryptocurrency. There are platforms that allow the purchase of Diem using fiat currencies, while others only allow the purchase of Diem using cryptocurrencies.

Crypto Brokers

Moreover, in order to use a broker to purchase Diem, you are required to have a registered account as well as to have your identity verified. Following this, you can place your buy and sell orders for Diem. It is generally necessary to have an electronic wallet in order to store the cryptos, but many online brokers perform this task for you and keep your cryptos secure. Diems cannot be transferred to third parties unless the broker offers assistance.

Diem Coins

You should follow the right procedure if you intend to buy Diem crypto after its market launch. It is particularly important to select a platform that is reputable and trustworthy. In an ideal world, you would already have a wallet in which you can store cryptocurrencies and your new Diem currency.

If you invest in Diem through a broker, you may not require a wallet since you are investing directly in the value of Diem. During the sale or withdrawal process, you may choose to receive proceeds in fiat currency or stablecoins.

Diem CFDs

There are other ways to purchase the Diem currency. A crypto CFD may be right for you if you value speed and ease of transaction. If you invest in a CFD, you will benefit from the underlying price of the asset or currency, such as Diem CFDs, Bitcoin CFDs, or Monero CFDs.

Because Diem is not expected to launch until 2021, you can own this stablecoin right now and contribute to its development. CFDs are usually sold on the official market as soon as the start date has been confirmed. It will then be possible to buy Diem CFD through certified online traders.

It has a strong reputation for buying and selling cryptocurrencies and offers excellent customer service. As the holder of a Diem CFD, you actually possess a derivative of the cryptocurrency along with its privileges. Our guide to CFDs explains how this works in more detail.

fb libra diem

What is the Diem Wallet?

Novi was designed as a repository for Diem. In the previous plans for Libra, Calibra was envisioned as a storage app that hasn't been in progress since the launch of Novi. The wallet is not yet available for download, but should be available on the market at the same time as Diem.

A seamless integration of Facebook-related applications into the wallet can be ensured, and this could indicate that users of Facebook-related applications will be detectable on the blockchain. Diem may also be used with other storage wallets, but this has yet to be determined. On the project homepage, it is stated that sending money for both private and business users is as simple as sending messages via WhatsApp messenger.

Diem Course and History

June 18, 2019
Facebook announced its plans for the Libra project on June 18, 2019; the cryptocurrency industry has responded positively to this news.
July 17, 2019
Calibra CEO David Marcus will be interviewed by the U.S. Senate on July 17, 2019, about Facebook's plans for the design and launch of Libra. During the hearing, there was critical opposition.
October 1, 2019
Mastercard, PayPal, and VISA have announced their withdrawal from the Libra Association due to worldwide criticism of the project.
October 9, 2019
On October 9, 2019, OpenLibra will be presented at the Ethereum Devcon 5 conference. The idea was to serve as an open source project that is not dependent on the use of Facebook products.
October 11, 2019
Stripe, VISA and Ebay will exit the project on October 11, 2019.
October 21, 2019
The Libra Association confirms on October 21, 2019 that instead of a single stablecoin, national, currency-linked stablecoins will be issued for the project. Start date: June 2020.
October 25, 2019
tober 25, 2019, the Deutsche Bundesbank expresses criticism of cryptocurrencies and declares that stablecoins may not be allowed as an alternative to national currencies.
November 11, 2019
On November 11, 2019, Goethe University Frankfurt publishes a survey with respondents from the German financial sector, in which 58% of participants confirm that Libra will not be launched in 2020.
February 23, 2020
With the departure of PayPal and Vodafone from the Libra association, Shopify has joined the organization.
April 16, 2020
The new Diem whitepaper was released on April 16, 2020 with a new focus on national currency-specific stablecoins. The Libra ecosystem has now also been projected as a platform to support the central bank's digital currency.
December 1, 2020
The Libra project was renamed Diem on December 1, 2020. The launch is scheduled for 2021.

Diem price development in Q1 of 2022

On February 1, 2022, Facebook officially ended Project Diem. The reason for this is probably due to the criticism of politicians and financial regulators as well as the exit of many founding partners, including Visa, MasterCard, PayPal and eBay. A second reason might be the departure of David Marcus, who has been referred to as the father of the coin. Diem Association was dissolved, and the project was sold to Silvergate Capital, a holding company of Silvergate Bank, for USD 182 million. Rather, a senior regulator would have stated that this is the best-positioned stablecoin project presented to the US authorities, according to CEO Stuart Levey. The bank now plans to peg the coin to the dollar and introduce it at the end of 2022.

Diem Forecast: The Diem Future Prospects

Diem value appears to have a positive outlook when viewed through the lens of the many well-known companies and organizations that support it. Diem's design makes it comparable to USDC and USDT, which have performed well so far.

A recent economic downturn caused by the COVID-19 crisis has led to more money printing by central banks, resulting in an undervaluation of fiat currencies around the globe. Cryptocurrencies have increasingly become a safe haven for people worried about the loss of value. This is precisely why stablecoins are so valuable.

Additionally, central banks are concerned about losing control of economic indices, which leads them to occasionally turn against crypto currencies. There is a question as to whether Diem will be fought in some countries or recognized in others. There may be cause for concern here; however, it is also important to keep in mind that other cryptocurrencies thrive despite regulations - this could also be applicable to Diem.

The biggest Diem criticisms

Diem Krypto has been criticized primarily due to Facebook's massive stranglehold on social media at present. Facebook and its affiliates control a substantial portion of the world's data, according to regulators. If Diem were introduced, it would significantly increase the influence of one company.

Diem vs. Bitcoin

Here are the pros and cons of Diem in comparison to the well-known cryptocurrency Bitcoin:



Diem regulation and legal issues

Diem could become a shadow currency, which was the concern voiced in the European Parliament. Over time, this could mean a loss of relevance for monetary watchdogs since quantitative easing will no longer be an economic tool that they can use. Furthermore, Facebook could become its own central bank without any regulations controlling its operations or sphere of influence.

Diem is registered and established in Switzerland, where the Swiss Financial Supervisory Authority (SFSA) is responsible for the fine print since holders of the tokens are under its control. Additionally, the possibility of a monopoly position is taken into consideration, since Facebook is already a global giant through its control over Instagram and WhatsApp. Diem could be scrutinized by a number of institutions in this regard.

is diem have a future

Advantages and disadvantages

In conclusion, we provide a summary of Diem's advantages and disadvantages:



  • Potential loss of sovereignty for people with Facebook accounts if their IDs are shared on Diem
  • Too much global power concentrated in one entity
Tips for buying cryptocurrencies

Tip 1 : Research technologies and projects in the background before making a purchase

Tip 2 : Choose a suitable trading platform (exchange or broker)

Tip 3 : Do not invest more than you are ready to lose

Tip 4 : Remember: It is possible to lose everything or to win a great deal

Tip 5 : Do your own research instead of listening to the media

Tip 6 : Distribute: Do not place all your resources on a single coin or token

Tip 7 : Compare: Trading fees can significantly reduce profits

Tip 8 : Develop a trading strategy and stick to it

Tip 9 : Remain calm: price decreases are normal over the short run

Tip 10 : Do not share passwords or private keys with others

FAQ: Frequently asked questions about Diem
How can one invest in Diem?

Diem can be purchased through cryptocurrency exchanges or online brokers. While most brokers allow you to purchase CFDs, most marketplaces only allow you to purchase Diem Coins.

Can I buy Diem with a credit card?

Yes. It is expected that Diem will remain within the acceptable limits set by the trading platform when you purchase them. Bank transfers are the only method of payment for larger amounts.

Who is behind Diem?

The project has been supported by a large number of individuals. These include, among others, Facebook, Spotify, Uber, Lyft and Blockchain Capital.

Is Diem approved by regulators?

Diem is a Swiss company registered with the Swiss financial regulator. As it is not a security, it is also not regulated by the US Securities and Exchange Commission.