How to Buy Filecoin (FIL)
Looking for an alternative way to store your files?
If so, you may want to consider Filecoin, a crypto asset that aims to incentivize a global network of users to provide a file sharing and storage service.
Project founders claim that if enough people adopt it, it could become the fastest and cheapest way to store data on the internet. What’s more, it would not rely on a central authority, meaning the exchange of its files could not be censored by governments or other actors.
Not sure yet why you’d want to buy FIL? Feel free to read our ‘What is Filecoin?’ guide. It offers a more extensive breakdown of its technology and vision.
Ready to dive in?
If you just want to start buying FIL right away, click the button below to begin.
Why buy FIL?
If you’re going to be using Filecoin, FIL is pivotal for accessing its services.
In fact, those looking to store files with Filecoin will need to use its cryptocurrency to pay for storage and retrieval, and for any other transactions on the network.
You may want to consider buying FIL if you want to:
- Diversify your long-term crypto investment strategy
- Invest in projects designed for decentralized cloud storage
- Rent out storage space for your files
- Store and send data in new and novel ways.
Where can I buy FIL?
There are a number of ways to buy FIL. However, many find that it is easiest to purchase it through a trusted global exchange like Kraken.
Aside from offering the lowest fees in the industry, Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world. This matters because if you lose the private key to your FIL, it can be challenging if not impossible to recover your funds.
At Kraken, we take security seriously, with tested technology and rigorous procedures designed to safeguard funds. We don’t cut corners when it comes to security, and neither should you.
How much FIL can I buy?
Looking to buy FIL on a budget? Don’t worry, Kraken offers a minimum order size of 0.3 FIL to help you gain exposure to a variety of assets.
Of course, you can also execute larger FIL buy orders as well. It wouldn’t be out of the ordinary for larger traders to purchase or trade 10,000 FIL or more on Kraken.
How to buy FIL on Kraken
Follow the steps below to start buying FIL on Kraken:
Sign up for a Kraken account.
First, enter a valid email address, create a new username and set a strong password to protect your account.
Verify your account.
After providing your name, date of birth, country of residence and phone number, you can buy FIL with cryptocurrencies like ETH and BTC. In order to use cash (i.e. USD, EUR or CHF), you’ll need to provide our experts with additional supporting documents verifying your identity. Read about our verification processes here.
You can fund your account in a number of ways. How you do so will depend upon your location and preferences.
Once your account is funded with cash, you’re ready to buy FIL. You’ll also get access to our advanced charting tools, 24-hour global client support and margin* and futures trading**. All of these features are why millions of global traders love Kraken.
*Availability of margin trading services is subject to certain limitations and eligibility criteria.
**Trading futures, derivatives and other instruments using leverage involves an element of risk and may not be suitable for everyone. Read Kraken’s risk disclosure to learn more.
24/7/365 Customer Support
Trading is really pretty simple! If you have any questions about buying FIL, let us know. Our support staff is online all day, every day, ready to help.
You can reach us anytime on LiveChat or by email.
Where to keep your FIL
Once you buy FIL, you’ll need somewhere to safely store your cryptocurrency.
Kraken is secure, but it’s always safest to store your FIL in a wallet, a software or hardware device that stores the public and private keys required to make crypto transactions.
There are many types of FIL wallets available. Mobile and web wallets can make transactions easy, while hardware and paper wallets are perhaps best suited for secure, long-term storage.
When choosing a crypto wallet for your FIL, first spend some time thinking about what you plan to do with your tokens to find a wallet that fits your needs.
Kraken is not a wallet service
It is important to note that Kraken is an exchange service and not a wallet service. So while we allow our clients to hold FIL in their accounts, we highly encourage you to separate your FIL holdings into multiple wallets.
Start buying FIL
Ready to take the next step toward using a decentralized storage platform? Click the button below to buy FIL on Kraken today!