Firo (formerly known as ZCoin) is a blockchain protocol, the main features of which are anonymity, confidentiality and decentralization of payments. The founders of FIRO are a team of professionals in the field of blockchain development, who constantly improve the project, apply new algorithms and security methods.
What is Firo (FIRO)?
Firo is a cryptocurrency aimed at using cryptography to provide better privacy for its users compared to other cryptocurrencies such as Bitcoin.
The FIRO cryptocurrency has made anonymity its key goal. To ensure confidentiality, some technologies have been developed and implemented in the blockchain:
- Dandelion++ for the protection of your IP address.
- Lelantus is the next-generation privacy protocol.
The market capitalization, to date (11.06.2021), is around $83 million. The FIRO price is around $6 per coin.
How does Firo coin work?
Firo (FIRO) initially implemented the Zerocoin protocol. Unlike bitcoin, money does not travel from one block to another. Instead, it is traded as Zerocoin and redeem for a new coin without any history of transaction. However, the disadvantage of this system is that the transaction amount cannot be hidden.
There had been little research interest into Zerocoin protocol because of its similarity to Zerocash protocol. Therefore, Firo implemented a new transaction system called Sigma protocol on 30 July 2019 that replaced the previous Zerocoin protocol. Thus, the trusted setup was removed and proof size was reduced from 25kB to 1.5kB. Besides, Firo also developed the Lelantus protocol by improving upon the Sigma protocol.
Why should I trade Firo?
Fire can be considered as a great asset to invest in for the 2 following reasons:
- Privacy. If privacy and anonymity of transactions are important to you, then FIRO is the cryptocurrency that suits you the best. Developers are constantly improving the project, implementing new technologies to protect user data.
- Financial metrics. The all-time high was reached on the December 2017, when the price increased to $142. Now the price for one FIRO coin has been more or less stable for two years. However, from the history of the exchange rate, it is clear that this cryptocurrency can shoot at any time, and it already proven its potential several times. Buy FIRO at a nice price and boost your investment experience drastically.
Where to trade Firo?
One of the most reliable and secure ways to buy or sell FIRO is to use cryptocurrency exchange platforms. For more convenience, you can download the crypto broker app to your smartphone. Below are some platforms where you can easily trade FIRO:
- Binance – the world’s largest cryptocurrency exchange.
- Bittrex – equally popular and reliable crypto exchange.
- 7b – convenient and simple crypto broker where you can buy, sell, trade or HODL FIRO.
How to trade Firo using the 7b crypto broker app?
The 7b crypto broker app has an intuitive design making FIRO trading simple and accessible to anyone. Just follow the given instructions:
- Download the 7b app to your smartphone and register an account.
- Deposit into your account.
- Search for the FIRO cryptocurrency and click the “Buy” or “Sell” button.
- Enter the desired amount and confirm the transaction.
How to exchange Firo to Bitcoin?
To exchange FIRO on BTC one should use either an exchange platform or a swap. To protect our readers from potential scam, we recommend to use the following services
- Changelly – one of the most reliable services, where more than 170 cryptocurrencies are available.
- HitBTC – an exchange provides various tools for market analysis and trading, as well as the lowest fees.
Pass the following step-by-step instruction to exchange FIRO:
Step 1. Log in to your crypto exchange account
Step 2. Search FIRO/BTC exchange pair
Step 3. Enter the necessary amount of FIRO
Step 4. Confirm the exchange operation
Step 5. Receive FIRO
Is Firo a good investment?
The cryptocurrency deserves the attention of investors, as the FIRO team is constantly improving the blockchain. This gives good reason to believe that FIRO will be able to repeat its previous success ($142), so having it in your crypto portfolio is a good idea and is definitely a must have.
How do I invest in Firo?
There are multiple ways to invest in Firo, one of the most convenient is to use a crypto broker app. On 7b you can seamlessly buy and sell more than 2000 crypto assets. Store your FIRO coins on trusted and reliable wallets.
How to trade Firo for beginners?
The process of buying and selling cryptocurrency is about the same on different platforms. Just choose the preferable trading pair, enter the desired amount you would like to buy or sell, and confirm the transaction. Check the information in reliable sources. Choose or develop a carefully thought-out trading strategy that is suitable for a particular coin.
What is Firo Blockchain?
Firo is a digital currency whose main characteristics are user privacy, anonymity, and untraceable transactions.
Is Firo a privacy coin?
Yes, FIRO’s mission is to to provide more confidential and private crypto transactions compared to other cryptocurrencies.
Is Firo safe?
Yes, the native coin of Firo – FIRO, is an absolutely safe asset, both suitable for long-term and short-term investments. The guarantee of FIRO security also comes from the platforms listed it – Binance, Gate.io, 7b.
How can I get a Firo crypto?
There are 2 possible options to obtain FIRO:
- Exchange. If you already own another cryptocurrency you can use a broker app or an exchange platform to exchange your cryptocurrency on FIRO. However not all the platforms support operations with FIRO, so pick one carefully.
- Buy. To buy FIRO for fiat you should either use a P2P marketplace or use an exchange platforms where such an operation is supported.