Let’sExchange, a leading instant crypto-exchange service with over 3,900 coins and tokens, has invited us to hold an AMA (Ask Me Anything) session with Firo on December 7, 2023. The AMA session took place on both Firo’s and Let’sExchange’s X/Twitter page.
To learn more about LetsExchange, we have posted a blog about regarding the partnership between LetsExchange here.
Below, you will find a recap of the AMA questions answered by the Let’sExchange team.
1) Can you explain how LetsExchange.io can enhance #Firo’s accessibility to a wider user base?
With LetsExchange, users can exchange FIRO for any of the 3,900 coins and tokens supported by our platform. For example, users who have received rare coins in airdrops, or as a result of their affiliate activities, or bought them, can swap them to FIRO with no issues. Users who believe that the future of cryptocurrency is in privacy-focused coins can exchange their crypto holdings to FIRO.
Our business tools help provide access to FIRO to thousands of users worldwide. For example, our API will make the asset available in many crypto wallets. Additionally, the project can count on our extensive marketing support, such as reviews, AMA sessions (like the one we are having, and in the voice format), and cross-promo activities such as joint quests, among others. We believe all these things can benefit the project and the FIRO community and will serve new users by helping them explore the project’s benefits and perspectives.
2) What measures does LetsExchange.io have in place to ensure #privacy and security for #Firo users during transactions?
Privacy and user security are our main priorities. The platform allows users to swap funds without account registration (even though this option is available and offers more benefits, including access to the affiliate program). Thus, all your swaps are absolutely private.
Non-custodial security is another feature that allows us to ensure the security of users’ funds during each swap. We don’t store users’ funds but instantly swap one cryptocurrency to another. If a user keeps his funds in a non-custodial wallet, they are totally safe.
3) How did LetsExchange started and came to be?
LetsExchange was launched in 2021 by a team of experts in blockchain and crypto. In just a year, the platform has become one of the top 5 services that provide instant crypto swaps. Now, LetsExchange is ahead of most competitors in many parameters, including presence in the key markets, number of supported assets, etc.
4) What makes LetsExchange.io different from the other similar services out in the market?
Our main advantage is the number of supported coins and tokens (over 3,800) and an extensive range of tools for our partners. A widget with Swap and DEX modes and an off-ramp and on-ramp functionality, affiliate links, and a customized Telegram bot are just some of the solutions that we offer. We are constantly implementing new features and functionalities to ensure that our users and partners can benefit from the latest trends in the market.
5) Will LetsExchange.io support Lelantus Spark transaction if one were to buy/sell FIRO?
LetsExchange is one of the leading exchanges in supported coins, and we are working constantly to improve our services. We believe that anonymity and privacy are two of the core elements of the crypto world. This is why account registration is not mandatory, and even if our users decide to open an account, they can do it only with a valid email address.
We are currently working on letting our users swap $ZEC anonymously by using z-addresses. Soon, the feature will be implemented, and our users will be able to benefit from it.
In the future, we will also consider implementing the support of #LelantusSpark. We believe this innovative technology can move the use of crypto to a qualitatively new level.
6) With the recent MiCA regulations in the EU, How would you deal with Privacy Coins on your platform?
This question requires a comprehensive response. First and foremost, LetsExchange closely monitors legislative changes in various countries and regions, adapting its policies and operational activities when legislative adjustments are required.
We believe that legislative regulation will ultimately stimulate the industry’s development rather than hinder it, as it will allow institutional investors to enter. This implies colossal industry capitalization growth, rapid technological advancements, and other benefits.
Simultaneously, we are confident that privacy is one of the key elements of the crypto ecosystem. Without it, cryptocurrency would lose its meaning. That’s why, while complying with regulatory requirements, especially regarding AML policies and blocking transactions from sanctioned countries, we maintain support for anonymous cryptocurrencies and the option to exchange funds without registration.
7) Where is LetsExchange.io based?
LetsExchange is registered in Seychelles. But being real crypto enthusiasts, our team is spread worldwide. Our team members work from the USA, the UK, Ukraine, Mexico, and other countries.
8) What joint marketing activities are planned between LetsExchange and Firo, and how will they promote Firo’s growth?
We offer a lot of joint marketing activities, with AMA sessions being just one of the possible options. Other popular marketing activities among our partners are reviews, quests, and interviews, among others. Also, we are open to any suggestions that will help our partnership with FIRO grow and mutually benefit both communities.
9) How does LetsExchange.io align with Firo’s values and vision, particularly in terms of financial privacy and decentralization?
LetsExchange is a privacy-focused platform. It doesn’t ask for mandatory account registration. Users who opt to register an account with us need to provide only a valid email address, and that’s it. We don’t ask for personal or financial information other than the information needed for a swap. Soon, we will support z-addresses for swaps. In the future, the implementation of Lelantus Spark technology or another technology that enables private transactions is possible.
10) What benefits does LetsExchange offer to Firo’s community of users?
LetsExchange will enable users to buy #FIRO with 3,900 coins and tokens. In the future, more assets will be added. We offer round-the-clock customer support and are ready to reply to all questions or solve any issues. Additionally, FIRO users can create an account on the platform and benefit from our affiliate program.
Winners for AMA
We have mentioned that 3 questions from the audience will have a chance to win some FIRO in this AMA. These are the selected 3 (in no specific order):
Q: Security and anonymity are always prioritized by BlockChain projects in the development of project platforms and technologies. So, does @firoorg have any technological solutions or plans to enhance user trust in these issues?
A: On top of Lelantus Spark, which we just released (activating in January 2024), you can read about it Here, The integration of technologies such as Dandelion++ and LLMQ ChainLocks enhances the overall security of both Firo’s blockchain and network. Dandelion++ helps obscure the originating IP of transactions, and LLMQ ChainLocks provide additional security against potential attacks. These measures collectively reflect Firo’s commitment to maintaining high standards of security and anonymity.
Q: In what ways does Firo address the challenges posed by the increasing digitization of fiat currencies and the potential loss of control over personal finances?
A: For the most part the digitization of fiat currencies have already happened but is evolving into something else which is a digital currency that is directly controlled by a Central Bank. While often touted for its benefits, we are already seeing the beginnings of the impacts of CBDCs which is setting rules and limits as to how you can spend your money and the ability for governments to cut you off from the financial system.
Firo in particular was designed to address these type of concerns as with privacy, our transactions are uncensorable and even the core developers cannot break that privacy or choose what you can or cannot use your money for. This is exactly the ethos of what cryptocurrency set out to do and one that is often overlooked and arguably even abandoned by Bitcoin.
Q: Many day-to-day projects promise great utility and functionality, but end up throwing the rug out a few days later. How do you really know that your project won’t throw the rug out? What guarantees do investors have?
A: We’ve been around since 2016 and constantly developing and delivering updates :). If this is a rug, it’s a pretty long one ;)