The mainstream media often distorts some facts about cryptocurrencies, for example, stating that they ensure private transactions. For the majority of the crypto market, this couldn’t be further from the truth. Popular crypto like BTC and ETH are pseudonymous, and the origin of each transaction can easily be traced back to the owner. 

For better privacy and anonymity, developers have created an entire niche of digital assets called privacy coins. Firo is one of the pioneers in this sector and has introduced a wide array of revolutionary cryptography techniques that provide better privacy. In this article, we take a closer look at Firo’s fundamentals and historical price action. This will help you make a believable price prediction for Firo for the short, medium, and long terms. 

What Firo Stands For

Firo was originally released in 2016 under the name Zcoin. It was the first cryptocurrency to make usage of the ZeroCoin privacy protocol, which erases transaction history at the moment it takes place. It benefits from zero-knowledge proofs to achieve this, proving that the statement is true without revealing any information about the transaction itself. 

However, this protocol has a few shortcomings. For instance, users weren’t able to hide the amount of each transaction. This left some incredibly sensitive information in the transaction data, which the developer team addressed by releasing continuous updates. 

In October 2020, the team rebranded the Zcoin cryptocurrency to Firo. This signaled a significant moment in the ZeroCoin protocol, as the team implemented the Lelantus update. This next-generation privacy protocol allowed users to burn coins and hide them in anonymity pools. 

Firo’s historical price action has seen some significant ups and downs over the years. Its best historical performance was in 2018 when the coin reached an all-time high of $150. Coming from $0.4 just one year before the rally, this 35.000% growth turned it into one of the best performers at that period. 

However, Firo never managed to return to its former glory. The price crashed to $4 in 2019, and the coin traded between $4 and $10 for more than 2 years. Its best recent performance was when Firo reached $20 in May 2021. It’s currently trading around $4.30 per coin (Feb 2021). 

Unique Features of Firo

FIRO is a mineable cryptocurrency that the developers created as ASIC-resistant. This means that users can mine it using commercial-grade GPUs. Firo has implemented the Merkle Tree Proof (MTP) to prevent the centralization of miners. 

Another unique feature of Firo is the way transactions work. Instead of sending the same coins from one user to another, the coins in the transaction are destroyed. The protocol sends new coins to the receiver, erasing all transaction data between the peers. 

Firo has a maximum supply of 21.4 million coins, which is similar to Bitcoin. Another similarity with the original cryptocurrency is that the protocol follows a 4-year reward halving. Currently, each block rewards 12.5 FIRO/block. 

Future of Firo Cryptocurrency

So, what can we expect from Firo in the next few years? Can the privacy coin increase in value and provide a good profit opportunity? To provide you with a decent FIRO coin price prediction, we explored some experts’ opinions from the internet. 

• PricePrediction.net provides a maximum price of $6.71 per FIRO token in 2022. In 2023, they expect it to reach $9.65 and $19.77 by 2025. 
• TradingBeast expects Firo’s price to decline in 2022, reaching $3.4. For 2025, however, the website expects it to reach almost $10 per coin.

How to Buy the Coin?

The Firo cryptocurrency is quite popular and has been around for a while now. Consequently, you can find it on most major centralized crypto exchanges. However, the best way to acquire a privacy-focused coin like FIRO is by purchasing it on an anonymous cryptocurrency exchange online. 

The process is quite simple as well. Just create a FIRO-supported wallet and visit Godex. There, you will be able to purchase Firo for more than 300 different cryptocurrencies, safely and without creating an account. 

Reasons to Invest in Firo

With governments tightening KYC requirements for purchasing cryptocurrencies in the past few years, privacy coins like FIRO are gaining traction. Firo transactions provide anonymity and privacy, allowing you to hide your crypto holdings from prying eyes. 

With major prediction websites providing steady growth for Firo in the coming years, this asset could become a great investment opportunity. Moreover, it will provide some added utility for users that value their privacy.