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What is FIL?

Filecoin (FIL) is a decentralized storage network built by Protocol Labs, a San Francisco-based research and development company founded by Juan Bennet in 2014.

Protocol Labs aims to create a decentralized, fast, affordable, and secure Web 3.0 with two products called Interplanetary File System (IPFS) and Filecoin.

IPFS is a peer-to-peer protocol that allows anyone to host and receive web content. Its second product, Filecoin, is built on the IPFS as an incentive layer and is a decentralized storage blockchain designed in 2017. Filecoin generated more than 200 million dollars at its presale.

Filecoin does not store files on the blockchain but handles all FIL transactions. It also stores all agreements between storage miners and clients renting storage data. Filecoin storage miners earn FIL tokens directly from their clients, proportional to the FIL stakes and the hard drive space they’ve committed to the Filecoin network.

FIL is Filecoin’s native token and is used to pay for network fees. It is considered a deflationary asset, meaning FIL tokens are burned whenever a storage miner stake is slashed.

Why buy FIL with OKX?

Buy/Sell FIL in a few steps — Simple
OKX makes it easy to buy Cryptocurrency with a user-friendly interface

What can I do after I buy FIL?

You can buy Filecoin on OKX’s secure and trusted cryptocurrency exchange platform. All you have to do is sign up on OKX and enjoy a seamless and straightforward buying experience. The following are what you can do with your purchased FIL tokens.

HODL Filecoin

OKX makes it easy to hold the crypto assets you believe in for the long term. You can securely store your Filecoin in OKX wallets or transfer it to a supported wallet like Metamsk for storage using OKX’s secure "Withdraw" feature.

Trade Filecoin

There are multiple ways you can trade FIL on OKX. For quick and easy conversions, use our "Convert" feature to swap your FIL tokens for USDT with no fees or spreads. You can also trade FIL against USDT, BTC and ETH.

Transact with Filecoin

You can send your FIL across supported wallets to anyone worldwide. OKX has a secure and easy-to-use withdrawal feature that instantly sends your FIL to the intended wallet. Always cross-check wallet addresses when transferring crypto assets, as this action is not reversible, and funds might be permanently lost.

Earn through Filecoin

On OKX, you can access our flexible staking periods on FIL to make your passive holdings generate passive income for you. Check out OKX Earn to learn about our competitive APYs through staking crypto. You can also become a storage miner on the FIL blockchain if you meet the requirements to earn extra income.

How to buy Cryptocurrency and store it safely?

Guide on how to buy Filecoin (FIL)

Buy Filecoin with your credit or debit card

At OKX, you can easily purchase USDT or BTC with your local fiat currency using VISA, MasterCard, ApplePay, bank transfer, etc., depending on your selected fiat currency. Next, swap your purchased asset for Filecoin using our high-liquidity spot trading pairs.

Purchase Filecoin against BTC or USDT

To buy Filecoin with BTC or USDT, tap on the "Trade" menu at the top and select "Basic Trading." Then, on the trading page, select FIL/BTC, FIL/USDT, FIL/USDC, or FIL/ETH trading pair and input the relevant information to purchase Filecoin at the spot market price.

Trade Filecoin with BTC or USDT at your set price

Our limit order option enables you to buy Filecoin at your predetermined price. Once on the OKX trading terminal, select your preferred FIL trading pair, and input the relevant data before selecting "Buy FIL" to place your limit order trade. Your Filecoin trade will be executed only when your specified price is met.

Convert your crypto assets into Filecoin at no extra charges

If you want to trade some of your existing crypto holdings into Filecoin at no extra fees, OKX Convert is your go-to place. OKX Convert can instantly convert over 100 major crypto assets into Filecoin without any spreads or fees.

Purchase USDT instantly from our peer-to-peer (P2P) Market

Navigate to our escrow-powered peer-to-peer trading window and purchase USDT tokens directly from trusted sellers using 40 payment methods. Then exchange your USDT tokens in the spot market for FIL.

FAQs

Can I buy Filecoin with a credit card?
Yes. At OKX, you can easily purchase USDT or BTC with your local fiat currency using VISA, MasterCard, ApplePay, bank transfer, etc., depending on your selected fiat currency. Then, swap your purchased asset for FIL using our high-liquidity spot trading pairs.
Where can I buy Filecoin?
The best way to buy Filecoin is on OKX. With flexible payment methods and popular trading pairs, you can get the lowest prices for Filecoin on a secure and trusted platform.
How do I get Filecoin with BTC or ETH?
The fastest way to get FIL with BTC or ETH is through OKX's Basic Trading option. You can choose either BTC or ETH, enter the amount you wish to trade and get Filecoin instantly in your account. You can also chose to trade Filecoin back against the popular trading pairs with BTC, ETH and USDT.
How do I buy Filecoin with fiat currency?
OKX supports over 30 fiat currencies, and you can buy USDT with your preferred local fiat currency. You can then convert your USDT to FIL with no extra fees.
Is OKX secure?
Yes. OKX has over 20 million users in over 100 countries and is one of the most secure cryptocurrency platforms using cutting-edge security practices to safeguard user assets.
What are the most popular cryptocurrencies to invest in today?
Top crypto, based on market capitalization or total circulation value, include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), and XRP (XRP).
However, like all other crypto, the above are also featured with volatility and risks. You should do your own research (DYOR) and evaluate your risk appetite before investing in any crypto.
What are the top cryptocurrencies I can buy on OKX now?
OKX provides access to hundreds of crypto and trading pairings. Some of the most popular crypto on OKX include BTC, ETH, USDT, DOGE, SOL and OKB. You can visit our brand-new OKX Crypto Calculator. Select a crypto and a fiat currency to check the estimated real-time price.