Firo (XZC) is an open-source decentralized cryptocurrency aimed at increasing individual liberty. Firo’s team strives to bring freedom of commerce as well as the strongest level of anonymity to the world.
Today we’ve collected 6 best Firo (XZC) wallets, for you to store XZC assets safely.
Firo Crypto Explained
First was the protocol, and then the cryptocurrency. The zerocoin protocol was proposed in May 2013 by John Hopkins University professor, Matthew D. Green and his students. The main goal was to introduce a way of anonymized cryptocurrency transactions that couldn’t be tracked.
Following this protocol, the cryptocurrency transaction would eliminate a trusted third party interference by being destroyed and then minted again, so that no one could track the history of the transaction. The protocol was considered to be implemented into the Bitcoin blockchain but met with resistance from the Bitcoin community.
It was launched in late September 2016 by a former student of the same John Hopkins University, Poramin Insom and his team. Firo has become the first cryptocurrency to implement Zerocoin protocol. Notably, the initial investors of the Firo project were Roger Ver and Tim Lee, who have definitely added credibility to the XZC cryptocurrency.
To bring even more anonymity to Firo cryptocurrency transactions, the project’s team introduced a Dandelion protocol in 2018. It allows processing Firo transactions anonymously without using TOR or VPN yet hiding the sender’s IP address.
The greatest milestone for XZC was achieved in the spring of 2019 when the Firo team has finally released Sigma – a new protocol that replaced the previous Zerocoin protocol. According to the Firo news and official statements, Sigma is going to dramatically improve scalability, bring a user-friendly appearance to the official Firo GUI Wallet and remove trusted setup from the original Zerocoin protocol.
Firo transactions are verified by zero-knowledge proofs, which makes Firo truly untraceable cryptoсurrency. The transaction is processed the following way: you mint a coin to burn it out – generate a mathematical proof that you’ve burnt it – this proof allows you to redeem a new coin without any previous transaction history – the mathematical proof doesn’t reveal which coin was minted and there is no relationship between the coin you’ve minted and the coin you’ve redeemed. Read more about the way Firo works in the article: What is Firo (XZC)?
Difference Between Firo (XZC) and Zcash (ZEC)
Don’t confuse Firo and Zcash as they are not forks of each other, and have little in common.
Firo and Zcash are based on different papers – Zerocoin paper and Zerocash paper respectively. Despite sharing the same authors and using the zero-knowledge proof algorithms, these papers rely on different cryptography.
6 Best Firo (XZC) Wallets
#1. Trust Wallet
In February 2019, Firo announced its integration into the official Binance wallet, Trust Wallet.
This partnership also allows integration with a Binance DEX to trade crypto in a truly decentralized way.
Trust Wallet is a leading mobile multi-cryptocurrency wallet that lets users not only securely store digital assets but also interact with multiple decentralized applications (DApps). The wallet also supports ERC20, BEP2 and BNB tokens.
Coinomi is a mobile and desktop cryptocurrency wallet available for iOS, Android, Windows, macOS, and Linux. Coinomi supports more than 125 coins, stablecoins and thousands of tokens. One of the most convenient Coinomi’s features is the opportunity to exchange Firo and other cryptocurrencies within the wallet. It is possible due to solid partnerships with instant exchanges like Changelly, Shapeshift, etc.
Notably, the Coinomi wallet has never been hacked or compromised which makes it a trustworthy platform to store cryptocurrency.
The wallet suits both crypto novices and professionals as it is simple, secure and offers a wide variety of digital assets.
#3. Firo GUI Wallet
Zcoin GUI Wallet is an official desktop wallet to store Firo (XZC) and manage your private keys. Once the Sigma protocol was proposed to the community, the look of the Firo wallet was mandatory updated. It is now much easier to interact with the wallet, process the minting and sending XZC.
The wallet has also introduced a new feature that allows you to backup funds and Sigma mints with just a mnemonic seed phrase. The wallet can be considered as a core Firo wallet by right. Don’t forget to backup your wallet before updating it to the latest version.
Firo GUI wallet is supported on Linux, Windows, and macOS.
#4. Electrum XZC
The Firo team has forked an Electrum BTC wallet to provide you with an opportunity for seamless and secure access to store and operate XZC cryptocurrency. Electrum XZC is a light wallet which means you don’t need to download the whole Firo blockchain.
Another great news is you can use Electrum Firo (XZC) wallet with hardware Ledger wallets. There is a step-by-step guide on how to install the Firo app on the Ledger device to manage XZC cryptocurrency with the Electrum XZC wallet.
Edge is a mobile cryptocurrency wallet that has been on the market for over 5 years. You can store dozens of cryptocurrencies including Firo (XZC) in just one place. As the wallet partners with top blockchain services like Changelly, Simplex, and many others, Edge allows for the smooth crypto swaps within its mobile application.
Using client-side encryption, the Edge wallet provides maximum security of your personal information just because it doesn’t store any. Backup with just a user name and a password and secure access with a PIN or Touch ID makes Edge a perfect service for crypto beginners.
Both hard wallets Ledger Nano X Ledger Nano S allow you to store Firo (XZC) in a secure manner. The core advantage to store your cryptocurrency on a hardware wallet is that your private keys are never exposed.
There is a wide choice of supported assets including ERC20, BNB, and BP2 token standards. The wallet has a Ledger life feature that allows you to easily manage, store, send and receive 23 coins and over 1200 ERC-20 tokens via your mobile or desktop device.
When purchasing a Ledger device, please pay attention to a seller. It is highly recommended to buy Ledger wallets via its official Ledger website.
According to the coinmarketcap, Firo (XZC) market cap is currently $63,039,774 (at the time of writing) which makes Firo cryptocurrency number 92 in the CMC list. Is it a good time to buy Firo (XZC)? The choice is always yours. At least you know how to manage and store XZC in a secure way.