How to Buy Filecoin (FIL)

A Step-by-Step-Guide on how to buy Filecoin (FIL)

Step 1 – Signup to Kraken

You will first need to buy units of the top-tier currencies. Exchanges normally accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for alternative Coins. Click the button below to register and receive ETH (Ethereum) or BTC (Bitcoin).

Binance Signup
Step 2 – Transfer Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Exchange

Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is similar. Filecoin (FIL) is accessible on Binance, so we're going to use that as an sample. Unsure on how to send funds from Coinbase to an Crypto Exchange? (Just follow this how-to)

Make sure you've selected the right coin you would like to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etc. In the case you're working with a decentralized exchange, such as Airswap or DDEX could be opposed (Just follow our how-to).

Step 3 – Locate Filecoin (FIL)

As soon as your deposit has been approved, you'll now have access to your funds and you can initiate purchasing and trading. To buy Filecoin (FIL) on Binance, you'll want to go to the tab which is called “Exchange” and click on “Basic”.

In order to spot Filecoin (FIL), you'll need to insert the cointype (FIL) into the search-box, which is highlighted in the picture. Make sure you have choosen the right pairing, we have highlighted this also. Click on “FIL/BTC” to proceed.

Binance Hot To Buy Filecoin (FIL)
Binance How to Buy (FIL) Filecoin
Step 4 – Purchasing Filecoin (FIL)

Once you've found Filecoin (FIL), you'll be presented with a Price Chart (in the Center of the image) and some Order Books (on the Left of the image). And now we're making our own Limit Order.

The ”Price” field will be filled automatically with the latest valuation Filecoin (FIL) was traded for. You can change this to your favoured rate. The field with the “Amount” tag is the quantity of FIL you like to buy. The field with the “Total” tag is the whole price in Bitcoin that you will pay for the complete quantity of FIL.

If you are happy, click on “Buy FIL”. Your order will be filled when a Vender trades their FIL for the price you submitted.

Step 5 – Withdraw Filecoin (FIL)

Unless you're regularly trading, best advise is not to keep coins on an Exchange for an extensive time period. In order to take off your Filecoin (FIL), go to the tab called “Funds” and click on “Withdraw”. Filecoin (FIL) can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find Filecoin (FIL) by using the given drop-down box. Put into the volumen of Filecoin (FIL) you would wish to take off. Take into account the displayed minimus/fees. Also make sure you have entered your correct withdraw address.

When you're happy, make a mouse click on “Submit”. You may be requested for email/phone verification ahead of a withdrawal.

Binance Withdraw

Congrats! You have successfully purchased and safed Filecoin (FIL).

That's it!

Take offs from Exchange can take between 1 – 30 minutes (depending on network usage). As soon as you've confirmed your take off with Ethplorer.io or Etherscan.io and the (FIL) Filecoin is safe inside your wallet, you are done.

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