How to buy Filecoin
FIL
The Filecoin network is a decentralized peer-to-peer file storage network that is used to store and retrieve data. FIL is the currency of the Filecoin network. Think of it as a traditional cloud storage but instead of having one provider, it is a network made up of many individual providers. This distributed infrastructure of networks means users don’t have to trust a single source for their data storage, thereby solidifying its security. You can buy and sell FIL for any major cryptocurrency, like BTC, ETH, and XRP or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade FIL for BTC the same way you trade CAD for USD. You can also trade FIL to CAD based on the FIL price. To learn how to buy Filecoin / FIL, scroll down to see how to buy Filecoin.
FIL is the cryptocurrency of the Filecoin network, a decentralized peer-to-peer storage network that can be used to store, retrieve and host digital information. Due to its distributed infrastructure, Filecoin is secure and more reliable than a traditional cloud storage solution. FIL tokens are used to pay for these services. If you’re interested in mining, there are two options available on the Filecoin network. Miners can choose to either be storage dealers or retrieval dealers. Storage dealers get funded on the chain by clients to store data (and must provide proof of storage to get rewarded), whereas retrieval dealers extract data from storage for their clients. This type of deal is funded off the chain – usually via a micropayment channel.
You may want to consider buying FIL if you would like to:
Diversify your portfolio by introducing a variety of cryptocurrency assets
Filecoin (FIL)
All prices are in USD.
How to buy Filecoin
FIL
The Filecoin network is a decentralized peer-to-peer file storage network that is used to store and retrieve data. FIL is the currency of the Filecoin network. Think of it as a traditional cloud storage but instead of having one provider, it is a network made up of many individual providers. This distributed infrastructure of networks means users don’t have to trust a single source for their data storage, thereby solidifying its security. You can buy and sell FIL for any major cryptocurrency, like BTC, ETH, and XRP or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade FIL for BTC the same way you trade CAD for USD. You can also trade FIL to CAD based on the FIL price. To learn how to buy Filecoin / FIL, scroll down to see how to buy Filecoin.
Here’s how to buy Filecoin on Coinsquare
Buying Filecoin is just like foreign exchange of traditional currencies like the Canadian Dollar, US Dollar, or Euro. You trade coins that you have – either a cryptocurrency or a dollar – for Filecoin, which trades as FIL. Based on when you think you can get a good FIL price, you should be able to trade FIL to CAD.
To buy Filecoin, simply follow these steps:
Sign up for a Coinsquare account and verify your identity
This is the first step to buying FIL. Verifying your identity helps us to properly connect your funds to your account.
Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
After funding, select FIL from the list on the trade section
Coinsquare lets you trade FIL without leaving the app. You can also check the Filecoin stock price and convert FIL to CAD on the platform.
Select a currency you’ve funded and use it to check the FIL price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
Buy FIL
Congratulations! You’re now the proud owner of FIL. You can either HODL or use it to exchange FIL to CAD. To the moon!
FIL is the cryptocurrency of the Filecoin network, a decentralized peer-to-peer storage network that can be used to store, retrieve and host digital information. Due to its distributed infrastructure, Filecoin is secure and more reliable than a traditional cloud storage solution. FIL tokens are used to pay for these services. If you’re interested in mining, there are two options available on the Filecoin network. Miners can choose to either be storage dealers or retrieval dealers. Storage dealers get funded on the chain by clients to store data (and must provide proof of storage to get rewarded), whereas retrieval dealers extract data from storage for their clients. This type of deal is funded off the chain – usually via a micropayment channel.
You may want to consider buying FIL if you would like to:
Diversify your portfolio by introducing a variety of cryptocurrency assets
Where do I keep my FIL?
Ready to add FIL to your portfolio?
Prices and percentage changes are for information purposes only and in no way reflect Coinsquare Ltd.’s speculation of market direction. Past performance is not an indicator of future performance. Please find our Risk Disclosure statement here.
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