What is Firi?

Firi is a very popular service in connection with the purchase and sale of cryptocurrencies in Great Britain and the rest of the Nordic region. This is a Nordic crypto exchange. The service was founded in 2017, and it happened because many people missed a Norwegian player in the crypto market.

Behind Firi you will find many big names, including Thuc Tuan Hoang and Øyvind Kvane s. It was these two who got the idea that Firi is based on in the first place. However, this was not something they could do alone, and it led to a number of other names can also be linked to Firi:

• Steffen Eriksen (developer)
• Kien Vu (developer)
• Cong-Nguyen Nguyen (developer)
• André Høøk (developer)
• Hoang Minh Trinh (Business Developer)
• Maren Kleppan (UX Designer)
• Amanda Hammarberg (UX Designer)

Together they formed a great entrepreneurial team that has had this as a project alongside their other jobs over several years. At the time of writing, when we are now also at the beginning of 2022, it has been 5 years since the founding of Firi, and it can be considered the largest crypto exchange in the Nordic region.

The entrepreneurial team’s goal is to make crypto accessible to everyone in an easy way. And it is a goal that they have no doubt managed to achieve with brilliance. Below we will get to know Firi a little better. For example, how does the service work? This is just one of the questions we have to answer.

Celebrate his former name

Before we move on, there is one small detail that must be mentioned. Firi has not always been Firi. Previously, the crypto exchange was known as MiraiEx, so you may have heard of the service before under a different name. MiraiEx was Firi’s name for the first four years, ie from 2017 to autumn 2021.

However, it was in the autumn of 2021 that the entrepreneurial team behind Firi began to look ahead to a much greater degree. Among other things, this led them to decide that it was time to change their name. Names and logos are closely linked, but we will return to the latter a little later.

In the autumn of 2021, the entrepreneurial team behind the then MiraiEx believed that the time had come to start building bridges to a much greater extent. They did not feel that MiraiEx was a name that represented everything they were and wanted to be, and therefore it became relevant to change the name. And the name became, as is well known, Firi.

As mentioned in the introduction, Firi can currently be considered the Nordic region’s largest crypto exchange. It was also in the autumn of 2021 that they expanded their operations to the Nordic market, so the name change from MiraiEx to Firi can also be seen as a symbol of this transition.

The idea behind Firi

In addition to the desire for a Norwegian crypto exchange, the entrepreneurial team had a pretty clear idea of what Firi should be. This is reflected in a number of elements of Firi:

• The meaning of the name.
• The values of the service.
• Service logo.

The meaning of the name

Firi is a loanword from Norse, which in Norwegian can be translated as «lighthouse» or «lighthouse». The entrepreneurial team wants Firi to be “a leading light” for the people in a crypto world that for many is experienced as quite complicated.

The values of the service

Firi is based on three values, and they are the following: Safe, easy and engaging. The entrepreneurial team wants there to be room for those who have a commitment to cryptocurrency, whether it is to buy or to sell, so they should be able to do it in a simple and safe way.

Crypto can be a pretty difficult topic, but Firi does what they can to make the whole process as simple as it can be. Through this service, you not only get the opportunity to buy and sell cryptocurrencies, but you can also learn more about the topic!

Service logo

By taking a quick look at the service’s logo, you can see that it is a combination of the florin, a sign that has been used in connection with a number of currencies for many centuries, and the sign of eternity.

According to the entrepreneurial team, this is a logo that has been developed with care and reflection as a starting point. The fact that Firi has taken the florin, which played an important role in the past, tells us that this is still as important now as it was then.

By using this symbol in their logo, Firi gives the impression that they are looking back on all the knowledge that has been revealed over the years in connection with cryptocurrency, and that they value this at the same time as they look ahead.

The currencies Firi supports

When you click on the website, you are immediately greeted by an invitation: “Invest in crypto with Firi”. Below this text you will find a drop-down menu, or drop-down list if you like, with six different cryptocurrencies. These are the currencies Firi supports:

• Bitcoin (BTC) .
• Ethereum (ETH) .
• Ripple XRP (XRP) .
• Litecoin (LTC) .
• Cardano (ADA) .
• DAI (DAI) .

Next to each cryptocurrency, you will find some information about what one (1) coin of each cryptocurrency is worth, as well as information about how much the exchange rate has risen or fallen recently. At the time of writing, small looks like this:

• Bitcoin (BTC): 385 251.47 NOK (-2.36%)
• Ethereum (ETH): NOK 27,259.20 (-4.17%)
• Ripple XRP (XRP: NOK 7.48 (-6.38%)
• Litecoin (LTC): NOK 1121.15 (-6.41%)
• Cardano (ADA): NOK 10.53 (-4.71%)
• DAI (DAI): NOK 8.94 (+1.94)

In practice, this means that 5 out of 6 cryptocurrencies have recently experienced a fall in prices. At the moment it costs to buy one (1) Bitcoin 385 251.47 NOK. From this overview we can see that Ethereum, Ripple XRP, Litecoin and Cardano have also been victims of price declines. DAI has instead increased in value, and here we see a value increase of 1.94%.

So many people use Firi

As with everything else, so is cryptocurrency. This is not something that interests absolutely everyone you ask. There are people who are keenly interested in and properly engaged in cryptocurrency , but there are also people who could not care less.

Firi updates its customer numbers regularly, and at the time of writing, the service is used by as many as 130,000 Norwegians. However, it is uncertain how many people use the service outside Great Britain ‘s borders.

Firi’s target group are people who are looking for a way that can give them so much financial freedom. With financial freedom, you get the opportunity to make your own mark on the future, and that is something many people strive for and want.

You can do this at Firi

As mentioned later in the article, Firi gives you the opportunity to buy and sell cryptocurrencies. Through this crypto exchange you can buy or sell 6 different cryptocurrencies. You can also follow the exchange rate development for each individual currency for the last 24 hours. This can be found under «Market».

But of course it does not stop there. Firi can also be a great resource if you want to learn more about cryptocurrency in general. Their website is modern and clear, which makes it easy to navigate around the page – whether you know what you are doing or not.

Firi is a crypto exchange that is suitable for all types of people. It does not matter how much or how little experience you have with cryptocurrency. If you belong to the latter group, then it is possible to get help through Firi’s customer service.

Firi also has its own blog where they publish articles on various topics that are in some way related to cryptocurrency, which you can read if you want. Here you can find text formats such as press releases, for example about new faces joining Firi’s entrepreneurial team.

Firi’s new product

In the autumn of 2021, Firi also launched a new product. It is called Crypto Saving, which makes it much easier to save in cryptocurrency than it has ever been. Here are some examples of what you can save cryptocurrency for:

• New home.
• A holiday trip you have wanted to go on for a long time.
• Pension.

Crypto saving can be done in different ways, and here it is you who decides how you want it to take place. You can do exactly what you want, regardless of whether you are comfortable with regular withdrawals from your account or want to complete the savings transactions manually!

The purpose of this product is to make crypto saving easy. It is not to be underestimated that cryptocurrency is a complicated topic. This also applies to crypto saving, but through Firi you get all the information you need about the process, which of course makes it a little easier.

Easy to get started with Firi

Some websites can be really tricky to navigate around, but this is something you do not have to worry about when using Firi. This is a service you get started by completing three very simple steps:

• Create an account. Here you can, for example, use Vipps, which means that your profile is filled in automatically. Feel free to check that all information is correct.
• Verify your account with BankID. No matter how you do this, it will be easy, for example through the BankID app.
• Then you can start buying, and possibly selling, crypto. Whether you are going to make a deposit or withdrawal, this is something that is easy to do through secure bank transfers.

Interview with Thuc Hoang who is one of the people behind Firi: