Frequently Asked Questions

1: The silver backup provides stability as silver has historically been recognized as a valuable form of currency. Its value can be easily calculated based on the quality and weight of silver, eliminating the need for constant market monitoring and reducing price fluctuations.

2: Yes, the silver backup can undergo audits to verify its authenticity and quantity. By releasing only the number of coins that have corresponding silver reserves, transparency and confidence are ensured.

3: The value of the cryptocurrency is tied to the silver reserves, which serve as a tangible and intrinsic backing. As the value of silver fluctuates in the market, it directly influences the value of the cryptocurrency.

4: The silver reserves are stored in different secure locations to ensure their safety. These locations employ advanced security systems, access controls, and surveillance measures. Insurance coverage is also in place to mitigate risks and losses.

5: While the primary purpose of the silver reserves is to ensure stability and value, individuals have the option to exchange their Floren tokens for physical silver Floren coins. However, there may be costs associated with the production, postage, insurance, and a small administration fee for such exchanges.

6: The silver reserves are reviewed and updated on a daily basis. Any excess currency collected is exchanged into silver to increase the reserves and maintain an accurate reflection of the cryptocurrency's value.

7: There are no major restrictions or limitations on redeeming the cryptocurrency for silver. However, for larger redemption amounts, individuals may be paid in pounds, euros, or dollars equivalent to the current market value of silver on the day of the exchange.

8: Investing in a cryptocurrency with a silver backup, like Floren, offers cost-effectiveness, convenience, and stability. It eliminates the need for premiums associated with physical silver purchases and simplifies storage and handling. The direct tie to silver reserves provides stability and mitigates the impact of market volatility on investments.

9: Yes, as a digital currency, Floren minimizes the environmental impact associated with traditional mining processes used in other cryptocurrencies.

10: By adopting blockchain as the foundation for Floren, we empower our users with a modern, secure, and reliable solution to access, store, and transfer their wealth in silver. We believe this revolutionary technology is the key to a more inclusive, transparent, and secure financial future for all our customers.

You are more than welcome to ask any questions you may have. We're here to help and provide answers. Feel free to share your questions or request further information.

Be aware that for the security reasons not every question can be answered, as the answers may hold restricted information.