How to Buy Filecoin (FIL) in 4 Easy Steps

Filecoin FIL is one of the most exciting digital asset projects in the blockchain space. Users buy and sell Filecoin on several cryptocurrency exchanges. Professional traders turn to the top exchange trading platform for buying Filecoin and start trading.

Some of the exchanges where you can buy Filecoin include: – Coinbase – – Binance – eToro

4 Steps to Buy Filecoin from Exchange

#1 Create an account

To begin with, users need to create an account on any exchange that supports Filecoin FIL, preferably from the ones mentioned above. Beginners shall opt for Coinbase or eToro. Every exchange has different criteria for signing up. Usually, you are asked for your identification through an email address and mobile number.

#2 Choose a payment source

You can use fiat currency or crypto tokens to buy Filecoin on any exchange. Users can transfer Dollars or other fiat currencies to their exchange through bank transfer. They can buy a stablecoin like USDT or BUSD and later convert it into Filecoin FIL.

#3 Complete the purchase

Once you have created and logged into your account on an exchange, you should be able to trade and analyze the data of highly volatile digital assets. Moreover, you can search for Filecoin on the search tab.  You can place an order at your desired price. Once you put in the amount you wish to invest, it will show the number of tokens you will receive against that value.

#4 Transfer Filecoin FIL to a wallet

It is an advisable measure for investors and traders. If you are trading and keeping coins for a short time, keeping assets in the exchange wallet might be acceptable.  But if you plan on holding coins for longer, as most storage providers plan with Filecoin FIL, you are advised to shift to an offline wallet or cold wallet. It protects your assets and data from hacking attempts.

Should You Buy Filecoin?

As per the analysis of Filecoin FIL, it is evident that the project is achieving new highs in the blockchain and crypto realm. It has started as one of the most usable crypto networks. Also, the project tends to expand further and explore new wavelengths.  Despite the criticism and the risks involved, many consumers still believe in the project.