How to Sell Filecoin (FIL)
No longer using Filecoin’s cryptocurrency-powered cloud-based storage platform? If so, you may want to consider selling FIL.
Even still, there may be reasons to sell FIL if you’re helping power the network. Whether you’re earning FIL renting out your computer’s excess space or you’re a Filecoin miner seeking to cash in on gains, Kraken allows you to sell FIL for Bitcoin (BTC) and popular fiat currencies.
Our exchange also offers over 150 trading pairs, so depending on how you decide to sell FIL, you can gain exposure to a wide range of other assets.
If you’ve already decided now is the best time to execute a trade and sell FIL, follow the steps outlined below.
Ready to start?
If you’re more advanced and looking to get right in and start trading, go ahead and sell some FIL!
New to crypto?
For more details on how FIL derives its value, read our official “What is Filecoin?” guide.
Why sell FIL?
Depending on your risk tolerance and investment allocations, you may find it advantageous to sell FIL for other cryptocurrencies or fiat from time to time.
You might sell FIL if you want to:
- Avoid losses in times of sudden price movement
- Cash out gains you made from renting excess space or generating new blocks
- Exchange FIL for other crypto or fiat currencies
- Reduce your portfolio’s exposure to crypto asset volatility.
How to sell FIL on Kraken
If you’re ready to go ahead and sell FIL, follow these simple steps below:
Sign up for a Kraken account.
You just need an email address, username and a strong password.
Verify your account.
All you need is your name, birth date, country of residence and a phone number.
Send FIL to your Kraken Address
If you want to sell FIL for another cryptocurrency (like BTC or CRV), first you’ll need to create a deposit address in your Kraken account. Depositing FIL on Kraken is as easy as transferring it to any cryptocurrency address.
If instead you want to sell FIL for a fiat currency (like USD or EUR), you’ll need to send us identification and proof-of-residence documents. Learn more about our different verification levels here.
Once your account has received funding, you can begin selling FIL and other cryptocurrencies on Kraken.
Start selling FIL
Not sure if you want to sell FIL? It’s OK to change your mind. If you have more technical questions, you can also reach us on LiveChat or by email 24/7/365.