Last update: Jun 6, 2022

How to Buy Filecoin (FIL)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy Filecoin. Depending on where you’re based, you’ll have different exchanges to choose from.

In this guide, we not only cover the top 3 global crypto trading platforms, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Filecoin

How to Buy Filecoin – 4 Easy Steps

1. Choose a crypto exchange

Finding a trading platform isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have Filecoin of course.

2. Sign up with the cryptocurrency exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger cryptocurrency trading platforms.

4. Buy Filecoin

Now that you have what you need to buy Filecoin, head over to the market or buy section of the crypto exchange and buy some FIL.

If the crypto exchange doesn’t have any Filecoin on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has Filecoin first), and trade your Ethereum for Filecoin.

Where to Buy Filecoin (FIL)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell Filecoin

  1. Sign into the cryptocurrency exchange where you bought Filecoin.
  2. Move your Filecoin to the right place on the cryptocurrency exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell Filecoin.

 

Crypto trading

How to Buy Filecoin (FIL) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy Filecoin in Australia, the process remains the same:

  1. Find a crypto trading platform below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy Filecoin if it’s available. If the exchange doesn’t have Filecoin. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Filecoin), and trade your ETH for Filecoin.

You can also check out our comparison of the cryptocurrency brokers in Australia for those curious to know more about which ones we prefer.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy Filecoin (FIL) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy Filecoin in Canada, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy Filecoin if it’s available. If the exchange doesn’t have Filecoin. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Filecoin), and trade your ETH for Filecoin.

Also, check out our comparison of the safest crypto exchanges in Canada if you’re curious to know more about which exchanges we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy Filecoin (FIL) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy Filecoin in the UK, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy Filecoin if it’s available. If the exchange doesn’t have Filecoin. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Filecoin), and trade your ETH for Filecoin.

If you’d like to know more about the exchanges we like, check our comparison of the best bitcoin exchanges in the UK.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying Filecoin? FIL Rundown

Filecoin, a decentralized storage platform that aims "to store humanity's most valuable information," raised $205 million in an initial coin offer (ICO) in 2017. The project originally planned a launch for mid-2019. The launch date of the Filecoin mainnet was moved to block 148,888. This is expected to take place in mid-October 2020.

In 2014, the project was described as an incentive layer for Interplanetary File System (IPFS), which is a peer to peer storage network. Filecoin uses an open protocol. It is backed by a Blockchain that records the commitments of the network's participants. Transactions are made using FIL (the blockchain's native currency). The blockchain relies on proof-of–replication as well as proof-of–spacetime.

Filecoin is a blockchain-based storage platform that stores data in a distributed manner. Filecoin is a decentralized cloud storage company that does not have the same problems as Cloudflare or Amazon Web Services. Filecoin uses its decentralized nature and protects the integrity of data. It makes it easy to retrieve and difficult to censor.

Filecoin, a decentralized storage system like Filecoin, allows people to become their own data custodians and makes the internet more accessible for everyone. Participation in Filecoin's network through mining and storage is directly linked to receiving more block rewards. Filecoin encourages participants to be honest and to store as much data possible.

Related:

author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.