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How & Where to Buy Filecoin A Step-by-Step Guide to Buying FIL

  1. Sign up at Gemini, the #1 rated FIL exchange.
  2. Fund your account with cash or crypto.
  3. Buy FilecoinFIL
  1. STEP 1Find the Best FIL Exchange
    • 1486429286
      Ease of use
      Very Easy
      Time to 1st Buy
      10 min
      24h Volume
      $20,659,392
      Coins
      59

      Founded by the Winklevoss twins, who also conceived Facebook, Gemini is an ultra-convenient and incredibly legitimate platform that has gone through every level of financial scrutiny possible to be the most reliable cryptocurrency exchange in the US. Truly too legit to quit, this is one of the few exchanges where your funds are actually insured in case of theft. USD-only features most of the well-known cryptocurrencies.

    • binance.us logo
      Ease of use
      Easy
      Time to 1st Buy
      24 hrs
      24h Volume
      $27,986,487
      Coins
      66

      Founded in 2019 as the USA-focused branch of the Binance family of exchanges, Binance.US supports trading in over 50 cryptocurrencies and has the same industry standard low 0.1% fees as the original international Binance exchange. American users can buy crypto directly with a debit card, but Binance.US is not available in 7 states, including New York & Texas.

    • fLpdtiaZ
      Ease of use
      Easy
      Time to 1st Buy
      2 hrs
      24h Volume
      $
      Coins
      57

      No platform has been able to attract first-time cryptocurrency investors quite like Coinbase. Each quarter, millions of new users sign up and take advantage of the simplest and smoothest customer purchasing journey in the market. Coinbase also aims to educate beginners, paying them in crypto to learn about different projects.

    • kraken exchange
      Ease of use
      Very Easy
      Time to 1st Buy
      24h Volume
      $189,010,906
      Coins
      91

      A decade of security, honesty, and transparency has given San Francisco’s Kraken an impressive reputation and helped it become the fourth-largest cryptocurrency exchange in the business. The brokerage service offered by Kraken has more coins to buy and sell directly with cash than most of their competitors. In addition, debit and credit card purchases are permitted with comparably low fees. Well-suited for beginners and those who want to buy and hold coins long-term.

    • 102
      Ease of use
      Average
      Time to 1st Buy
      2 hrs
      24h Volume
      $1,042,022,137
      Coins
      298

      China’s biggest cryptocurrency exchange and the second-biggest exchange in the world. Huobi is highly respected and well designed, with a stunning trading platform, more than 50 fiat currencies accepted, and fair trading fees. Now based in Seychelles and listed in Hong Kong, it serves a primarily Asian customer base.

    Go to Gemini and create an account. In some cases, the exchange will need some personal information like email address, phone number, name, address, and a copy of your government ID or passport.

    This is completely normal and all exchanges we list on this page have security in place to protect your personal info.

  2. STEP 2Fund Your Account

    It is now time to add funds to your newly created exchange account. This will allow you to purchase Filecoin FilecoinFIL quickly.

    Upon signing up at the exchange, you should be shown easy to follow instructions to buy FIL with cash from your bank account or credit or debit card. Some exchanges also accept alternative funding methods such as Paypal, Apple Pay, Skrill, or Sofort by Klarna. You can also deposit any supported cryptocurrencies directly into your exchange account and trade them for FIL.

Frequently Asked Questions About Buying & Selling Filecoin (FIL)

How do I Buy FIL with Crypto?

If you want to buy FIL with a cryptocurrency like Bitcoin, Ethereum, Litecoin, XRP, or BNB, then you can simply sign up for Gemini and send your crypto to your account.

You can view the supported cryptocurrencies for the exchange you selected by going to the assets or wallet screen. Once you see a list of coins, you should be able to select one and click "deposit" which will show you the address to send your crypto to Gemini.

You will then copy that address and paste it into the wallet holding your cryptocurrency and send.

Depending on the blockchain used and how quickly the exchange processes deposits, your funds should show up in your exchange balance within minutes.

How do I sell Filecoin (FIL)?

To sell FIL, simply reverse the buying process described above. You will likely need to trade your FilecoinFIL into a USD coin like usdtUSDT. Look for a "Sell" button in your account wallet and sell for Dollars, then initiate a transfer to your bank account. To withdraw cash to your bank, you will likely need to complete a full KYC (Know Your Customer) process if you haven't already.

Filecoin Research Center

Filecoin Technical Details & Statistics

Tokenomics
  • Market Rank39
  • Market Cap1,294,434,774
  • Circulating Supply228,586,940
  • Total Supply228,586,940 FIL
Yesterday's Trading
  • 24 HR Volume95,637,650 USD
  • Yesterday's High / Low---
  • Yesterday's Open / Close---
  • Yesterday's Change---
All Time Performance
  • All Time High---
  • All Time Low---

How and Where to Buy Filecoin (FIL)

American computer scientist Juan Benet founded Protocol Labs in May 2014. Benet is a graduate of the prestigious Stanford University. Later, he created the Interplanetary File System (IPFS) as a protocol for sharing and storing data in a distributed file system via a peer-to-peer network.

In their 2017 ICO (initial coin offering), Filecoin (FIL) raised over $200 million. The mid-2019 launch date for the Filecoin mainnet was delayed until October 2020, after block 148,888 was finally completed.

What Is Filecoin (FIL)?

Filecoin (FIL) project is a decentralized, open-source blockchain-based protocol. It uses proof-of-spacetime (PoSt) and proof-of-replication (PoRep) to record network users’ commitments via $FIL token transactions.

Filecoin (FIL) is a storage system for users to store data securely without the risks of centralized censure. Filecoin (FIL) storage potential includes:

  • Podcast data
  • Security archives
  • Contract data
  • Personal files
  • App data
  • Company files
  • Public datasets
  • Private data
  • Websites
  • Video
  • dApp websites

$FIL is the Filecoin project’s native cryptocurrency token.

What Makes Filecoin (FIL) Unique?

Centralized cloud storage companies like Cloudflare and Amazon Web Service can be problematic for users. There are risks of censorship, customer data loss, platform failure, and storage can be expensive. 

The decentralized nature of Filecoin protects the integrity of the location of stored data, which means it is almost impossible to censor but easily retrievable. In effect, Filecoin users become their own custodians.

Filecoin users win more block rewards by participating in the network by storing and mining data.

“Filecoin cryptographically verifies that a unique encoding of your data exists in physical storage in the world… over time.” – Filecoin website.

Proof of Replication (PoRep)

Based on “Sealing“, which is a gradual and sequential process that generates an encoding of the data, a unique replica for each miner who must submit public proof of existing data in physical storage.

Proof of Spacetime (PoSt)

Proof-of-spacetime (PoSt) is a similar concept to proof-of-stake (PoS), but instead of staking coins, the actual “stake” is the proven storage used to establish the probability of a miner mining a block. The proof structure is built-in “which consensus is achieved through an operation yielding positive social externality: data storage.”

Over a period, Filecoin randomly selects miners to challenge random proofs of spacetime sectors from which “data is read and compressed into PoSt proof.” Miners must provide public proof in the same manner as with PoRep.

  • Filecoin has a superior network – combined with IPFS, it’s secure, efficient, and censorship-free
  • Highly competitive pricing – compared to centralized storage, Filecoin storage is economical
  • Authentic and secure – cryptographic storage proofs provide peace of mind
  • Customized – you can create bespoke storage options
  • Ecosystem for developers – Filecoin continues to grow the range of providers, integrations, and tools

Filecoin’s current client base includes Wikipedia, Project Gutenberg, OpenAQ, OpenStreetMap, and gnomAD.

How and Where to Buy Filecoin (FIL)?

Before buying Filecoin (FIL), it’s essential to register with a trustworthy cryptocurrency exchange. As the world’s largest crypto exchange by trading volume, we recommend Binance as a reputable platform to start crypto investing or trading:

  1. Open an account with Binance – register your details and submit documentation for KYC compliance and gain access to all services on the platform
  2. Find the “Deposit” tab – you can deposit with cryptocurrency or by wire transfer, Mastercard, or Visa for fiat currency
  3. Choose an available $FIL currency pairon the Binance exchange, the pairs available are FIL/USDT, FIL/BUSD, FIL/BTC & FIL/BNB
  4. Send your $FIL tokens to a secure wallet – You can use the free exchange wallet or the mobile app wallet (Trust Wallet) or use an existing wallet if you have one that supports Filecoin (FIL)

How do I Sell Filecoin (FIL)?

Binance makes it easy to sell your Filecoin (FIL) tokens:

  1. Go to the trade section and sell your $FIL tokens for $USDT
  2. If you want to convert to fiat currency, send the $USDT to a suitable off-ramp platform (Coinbase or Gemini have a broad range of fiat currencies) if Binance withdrawals are not permitted in your country
  3. Once the $USDT is in your off-ramp account, convert to fiat and request a bank transfer, and that’s it. You can now enjoy the profits you’ve made with Filecoin (FIL)

Should I Buy Filecoin (FIL)?

We suggest seeking independent investment advice if you are unsure about buying Filecoin (FIL), as we are not qualified to advise you regarding cryptocurrency investments. If you decide to go ahead and buy $FIL tokens, we recommend using Binance, Gate.io, or Coinbase, as they are three of the top cryptocurrency exchanges online.

How do I invest in Filecoin (FIL)? Safely?

All financial investments are risky and cannot be classed as “safe“, and the cryptocurrency market is volatile. The best thing is to weigh up the risks and only invest what you can afford to lose.

Once you decide to invest in Filecoin (FIL), choose the best cryptocurrency exchange for your needs. Some platforms are ideally suited to beginners, and others are better for advanced investors and traders. Binance, Gate.io, and Coinbase are great platforms for beginners and those with more experience. The three recommended exchanges are easy to navigate, and all have secure wallets to store your Filecoin (FIL) tokens. 

Filecoin (FIL) pairs available on Gate.io and Coinbase

  • Gate.io – FIL/USDT, FIL/ETH, FIL/BTC
  • Coinbase – FIL/USD, FIL/BTC, FIL/EUR, FIL/GBP