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 BTC (Bitcoin) or ETH (Ethereum) to an Cryptocurrency Exchange

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

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

BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, et cetera. In the case you are using a decentralized exchange, like Airswap or DDEX could be different (Just follow these easy steps).

Step 3 – Locate Filecoin (FIL)

Once your deposit has been confirmed, you will instantly have access to your assets and you can launch invest and trading. To buy Filecoin (FIL) on Binance, you will want to hover over the ”Exchange” tab and after that click on “Basic”.

In order to locate Filecoin (FIL), you'll need to insert the cointype (FIL) into the search box, which is marked in the graphic. Make sure you have selected the correct grouping, we've highlighted this too. Click on “FIL/BTC” to continue.

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

As soon as you have found Filecoin (FIL), you'll be given a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the picture). Next we are creating our own Limit Order.

The field with the “Price” tag will be automatically filled with the most recent price Filecoin (FIL) was traded for. You can change this to your favoured rate. The field with the “Amount” tag is the amount of FIL you like to purchase. The field with the “Total” tag is the total price in BTC that you'll pay for the whole quantity of FIL.

If you're happy, click on “Buy FIL”. Your plan will be filled when a Vendor trades their FIL for the price you offered.

Step 5 – Withdraw Filecoin (FIL)

Unless you are frequently trading, best advise is not to keep your crypto coins on an Crypto Exchange for an extensive period of time. To withdraw your Filecoin (FIL), go to the tab called “Funds” and click on “Withdraw”. Filecoin (FIL) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Filecoin (FIL) by using the provided drop-down box. Put into the quantity of Filecoin (FIL) you'd wish to take off. Don't forget the presented fees/minimums. Also make sure you have filled your precise withdraw address.

When you are satisfied, make a mouse click on “Submit”. You could be requested for verfication via phone/email ahead of a withdrawal.

Binance Withdraw

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

That's it!

Take offs from Cryptocurrency Exchange can take anywhere from 1 – 30 minutes (rely on network usage). As soon as you have proved your take off using Ethplorer.io or Etherscan.io and the (FIL) Filecoin is stored within your wallet, you're all done.

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