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 – Send Your Ethereum or Bitcoin to an Crypto Exchange

Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is similar. Filecoin (FIL) is obtainable on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Exchange? (Follow this manual)

Make sure you have chosen the correct coin you would like to deposit.

BTC must be sent to a BTC deposit address, ETH to an Ethereum deposit address, etcetera. In the case you are working with a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our guide).

Step 3 – Locate Filecoin (FIL)

Once your deposit has been affirmed, you'll immediately have access to your assets and you can begin purchasing and trading. To buy Filecoin (FIL) on Binance, you will want to hover over the ”Exchange” tab and after that mouse click on “Basic”.

In order to find Filecoin (FIL), you will need to put the cointype (FIL) into the search-box, which is marked in the picture. Be certain of having choosen the proper grouping, we've marked this too. Click on “FIL/BTC” to go ahead.

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

As soon as you've discovered Filecoin (FIL), you'll be given a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the image). Next we are going to create our own Limit Order.

The field with the “Price” tag will be filled automatically with the most recent price Filecoin (FIL) was sold for. This can be changed to your preferred price. The ”Amount” field is the amount of FIL you like to purchase. The ”Total” field is the whole price in Bitcoin that you will settle for the whole amount of FIL.

When you're glad, click on “Buy FIL”. Your plan will be filled as soon as a Vendor sells their FIL for the price you introduced.

Step 5 – Withdraw Filecoin (FIL)

Unless you're frequently trading, you should never keepyour coins on an Cryptocurrency Exchange for an longer time period. To take off your Filecoin (FIL), hover over the ”Funds” tab and click on “Withdraw”. Filecoin (FIL) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Filecoin (FIL) by using the given drop-down box. Enter the quantity of Filecoin (FIL) you would wish to take off. Don't forget the presented fees/minimums. Also make sure you have entered your correct withdraw address.

If you're happy, click on “Submit”. You may be asked for phone/email verification ahead of a withdrawal.

Binance Withdraw

Congratulations! You have successfully bought and stored Filecoin (FIL).

That's it!

Take offs from Exchange can take anywhere from 1 – 30 minutes (depending on usage of the network). Once you have proved your take off with Etherscan.io or Ethplorer.io and the (FIL) Filecoin is safe in your wallet, you're done.
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