Buy Filecoin: A Comprehensive Guide on How to Buy FIL – Best Exchanges & Brokers

Filecoin, a prominent player in the cryptocurrency market, has experienced significant growth since its inception. Its decentralized storage network and unique appeal make it an attractive investment for many. We’ll guide you through easy, quick, and secure methods to buy and store Filecoin. To keep it simple, we believe that Coinbase is the best platform to buy Filecoin. Why choose Coinbase?

The following table explains why Coinbase is the best choice for buying Filecoin.

Buy Filecoin on Coinbase

Filecoin is a decentralized storage network that is gaining traction in the cryptocurrency space. Known for its unique features and significant potential, Filecoin offers both users and investors a valuable opportunity. Here’s how you can buy and store Filecoin securely, fast, and easily.

While you can choose to use external wallets, Coinbase provides a highly secure environment for storing your Filecoin. Unlike some platforms that impose delays on withdrawals, Coinbase processes them immediately, giving you quick access to your funds.

Cost-effectiveness is another advantage. Coinbase’s fees are highly competitive at 0.15%, significantly lower than the industry average. For comparison, other platforms charge much higher fees for Filecoin transactions.

Coinbase prioritizes user security with features like two-factor authentication, adding an extra layer of protection to your account. They also offer customer support, typically responding within 24 hours. (We can personally vouch for their support team’s efficiency and helpfulness.)

The platform itself is designed with user-friendliness in mind. Its intuitive interface caters to both novice and experienced traders. With dedicated apps for Android and iOS devices, you can manage your Filecoin portfolio and execute trades from anywhere with ease.

Coinbase is one of the most popular and user-friendly platforms to buy Filecoin (FIL). Here’s how you can buy Filecoin easily, securely, and quickly on Coinbase.

Step 1: Sign Up for Coinbase

Before you can start buying Filecoin, you need to create an account on Coinbase. Visit Coinbase.com and click “Get Started.” You will be prompted to enter your name, email, and a password. Once completed, click “Create Account.”

Step 2: Verify Your Identity

Coinbase requires you to verify your identity in order to comply with regulatory requirements. You will need to upload a government-issued ID and provide personal details like your address and date of birth. This process may take a few minutes to complete.

Step 3: Add a Payment Method

To buy Filecoin, you need to link a payment method. Coinbase supports several options, including:

• Bank Account: Link your bank account for lower fees and higher transaction limits.
• Credit or Debit Card: Ideal for faster purchases, though fees are typically higher than bank transfers.
• PayPal: Coinbase also supports PayPal for deposits and withdrawals in certain countries.

Step 4: Buy Filecoin

Once your account is set up and your payment method is linked, you’re ready to buy Filecoin!

1. On the Coinbase dashboard, navigate to the “Buy/Sell” section.
2. Select Filecoin (FIL) from the list of available cryptocurrencies.
3. Enter the amount of Filecoin you wish to purchase, either in your local currency (e.g., USD, EUR) or FIL.
4. Choose your payment method (e.g., bank account, credit card).
5. Review the transaction details, including any fees, and click “Buy Now” to complete the purchase.

Step 5: Store Your Filecoin Securely

After purchasing Filecoin, it will be stored in your Coinbase wallet. For added security, it’s recommended to transfer your Filecoin to a personal wallet (such as a hardware wallet from Ledger or Trezor) rather than keeping it on Coinbase, which is an online exchange.

Benefits of Buying Filecoin on Coinbase:

• User-Friendly Interface: Coinbase is known for its intuitive design, making it easy for beginners to navigate.
• High Security: Coinbase uses industry-standard security measures such as two-factor authentication (2FA) and insurance for funds held in the Coinbase Vault.
• Wide Payment Options: Coinbase supports multiple payment methods, including bank transfers, credit cards, and PayPal.

Buy Filecoin on Binance

Binance is one of the largest and most trusted cryptocurrency exchanges globally, known for its robust security features and user-friendly interface. Until recently (May 2019), purchasing Filecoin with EUR or USD directly on Binance was not possible. However, the platform has since introduced these options, making it easy to purchase Filecoin using credit cards or trade other cryptocurrencies for it. This guide will take you through both options!

Step 1: Register on Binance

Like many other exchanges, Binance allows you to verify your identity. Completing the verification process is optional, but it increases your daily withdrawal limit to 100 BTC. Without verification, the daily withdrawal limit is 2 BTC, and you can still access all other platform features.

Step 2: Buy Filecoin with a Credit Card

To buy Filecoin with a credit card on Binance, follow these steps:

1. Navigate to the Credit Card Section: In the top menu, click on “Buy Crypto” and then select “Buy with Credit Card.”
2. Select Your Payment Currency: Choose Filecoin (FIL) as your cryptocurrency and select your payment currency (Euro or USD).
3. Enter Your Personal Information: Fill in the required details.
4. Verify Email and Phone Number: You will need to verify both your email and phone number with a code.
5. Proceed to Payment: After verification, click “Next” to enter your credit card information.
6. Upload ID for Verification: Upload the front and back of your passport to verify your identity.

Important Notes Before and After Your Purchase

• Price Fluctuation: The amount of Filecoin displayed is based on the current price and may fluctuate. If the rate changes by more than ±2.5%, you will need to reconfirm the transaction through an email from Simplex, Binance’s third-party payment provider.
• Transaction Fees: Simplex charges a 3.5% fee per transaction or USD 10, whichever is higher.
• Transaction Limits: The daily limit is USD 20,000 per user, and the monthly limit is USD 50,000. The minimum transaction amount is USD 50.
• Track Payment Status: After completing your purchase, you can track your payment status and deposit history through Simplex.

Step 3: How to Trade Filecoin on Binance

If you already own cryptocurrencies like Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), or Tether (USDT), you can deposit them into your Binance account and exchange them for Filecoin. Here’s how to convert Ethereum (ETH) into Filecoin (FIL):

1. Deposit Ethereum (ETH): If you already have Ethereum (ETH) in another exchange or wallet, send it directly to your Binance Ethereum wallet address. If you don’t have Ethereum, you can purchase it on another platform like Litebit and provide your Binance Ethereum wallet address to complete the transfer.
2. Access the Deposit Section: Once logged in, go to “Funds” in the navigation bar and select “Deposit.”
3. Find Your Ethereum Wallet Address: In the search box, type “ETH” and select “Ethereum” from the list. Your unique Ethereum wallet address will appear, which you can use to transfer Ethereum to Binance.
4. Exchange Ethereum for Filecoin: Once your Ethereum arrives in your Binance account, go to the “Markets” tab, choose “ETH/FIL,” and place an order to exchange Ethereum for Filecoin.

Additional Trading Tips

• Leverage Trading: Binance offers margin trading with leverage for experienced users, enabling you to amplify trades and maximize potential profits (with increased risk). Make sure you fully understand leverage before using this feature.
• Security: Be sure to activate two-factor authentication (2FA) to protect your account. Binance also employs cold storage for crypto funds and offers insurance coverage in the event of major losses.

Buy Filecoin on Kraken

Kraken is a regulated crypto custodian with licenses across various jurisdictions globally. Kraken is one of the most secure and trusted cryptocurrency platforms globally, offering a user-friendly experience for both beginners and experienced traders. Kraken adheres to rigorous security standards and is regulated by financial authorities, ensuring the safety of your assets. It’s trusted by institutional investors, including major financial institutions, for the custody of cryptocurrencies, highlighting Kraken’s high level of security.

Kraken gives users the flexibility to use external wallets, but it also provides a highly secure environment for storing your Filecoin. Unlike some platforms that impose delays on withdrawals, Kraken ensures fast processing, allowing you to access your funds promptly.

When it comes to cost-effectiveness, Kraken’s fees are highly competitive. The platform’s trading fees are structured in a tiered manner, with the lowest fees reaching 0.16% for makers and 0.26% for takers, which are significantly lower than many of Kraken’s competitors.

User security is a top priority at Kraken, with features like two-factor authentication (2FA) and advanced encryption for account protection. Kraken also offers quick and responsive customer support, assisting you whenever needed.

Designed for ease of use, Kraken is perfect for both novice and experienced traders. The platform’s intuitive interface is complemented by mobile apps for Android and iOS devices, allowing you to manage your Filecoin portfolio and execute trades on the go.

Kraken is one of the most reliable and secure platforms to buy Filecoin (FIL). Here’s how you can buy Filecoin securely and efficiently on Kraken.

Step 1: Sign Up for Kraken

To get started with buying Filecoin, create an account on Kraken’s platform. Visit Kraken.com and click on “Create Account.” You will be asked to provide your name, email, and create a secure password. Once completed, click “Create Account.”

Step 2: Verify Your Identity

Kraken requires identity verification to comply with financial regulations. You will need to upload a government-issued ID and provide personal details such as your address and date of birth. This verification process helps ensure your security and may take a few minutes to complete.

Step 3: Add a Payment Method

To buy Filecoin, you need to link a payment method. Kraken supports several payment options, including:

• Bank Account: Ideal for lower fees and higher transaction limits.
• Credit or Debit Card: Suitable for faster purchases, though the fees may be slightly higher than bank transfers.
• Wire Transfers: For larger transactions, Kraken also supports wire transfers in several countries.

Step 4: Buy Filecoin

Once your account is set up and your payment method is linked, you are ready to buy Filecoin!

• On the Kraken dashboard, go to the “Buy Crypto” section.
• Select Filecoin (FIL) from the list of available cryptocurrencies.
• Enter the amount of Filecoin you’d like to purchase, either in your local currency (e.g., USD, EUR) or in FIL.
• Choose your payment method (e.g., bank account, debit card).
• Review the transaction details, including any fees, and click “Buy Now” to complete the purchase.

Step 5: Store Your Filecoin Securely

After purchasing Filecoin, it will be stored in your Kraken wallet. For additional security, it’s recommended to transfer your Filecoin to a personal wallet, such as a hardware wallet (e.g., Ledger or Trezor), rather than keeping it on Kraken, an online exchange.

Benefits of Buying Filecoin on Kraken:

• User-Friendly Interface: Kraken is renowned for its intuitive design, making it simple for both beginners and experienced traders.
• High Security: Kraken uses advanced security features such as two-factor authentication (2FA) and provides insurance for funds held in its vault.
• Competitive Fees: Kraken offers low trading fees, making it an attractive platform for both small and large transactions.
• Multiple Payment Options: Kraken supports various payment methods, including bank transfers, credit cards, and wire transfers, catering to a wide range of user needs.

Buy Filecoin on Kriptomat

About Kriptomat

In contrast to the established broker eToro, Kriptomat is a relatively new yet trustworthy crypto exchange. On Kriptomat, you can buy over 30 cryptocurrencies directly using Euros, USD, and other currencies, and easily send them to an external wallet. However, it’s important to note that Kriptomat’s services are currently only available in Europe, so users from countries like the USA cannot access the platform.

Kriptomat prides itself on a modern, user-friendly interface that makes it simple for anyone to buy and trade cryptocurrencies. For beginners, Kriptomat is highly recommended. As for its reliability, Kriptomat is fully licensed by the Estonian government, ensuring a regulated and secure experience.

One of Kriptomat’s key advantages is its transparency in pricing. Unlike other exchanges and brokers that add premiums, Kriptomat’s purchase prices align with the current spot price of Filecoin. Kriptomat only charges a nominal fee per transaction, and these fees are always clearly displayed during the order creation process. Deposit fees are also shown in advance, giving you full transparency before making any transaction.

Set up a Filecoin account on Kriptomat

To begin buying Filecoin on Kriptomat, you’ll need to go through a complete verification process in accordance with European Union regulations. Start by visiting the official Kriptomat website at kriptomat.io and clicking the “Register” button. This will open a pop-up window asking for your first and last name, email address, and a password.

Kriptomat will then send a confirmation email with a verification link. After clicking on the link, you will be able to log into your Kriptomat account with the credentials you’ve just set up. However, this is just the first step of the registration process.

Before you can buy Filecoin or use other features of the platform, you will need to verify your phone number. Kriptomat will send you a verification code via SMS, which you will need to enter on the website. But the registration is still not complete. To comply with strict EU regulations, you must now provide your full identity. To begin the process, click on the relevant prompt (see screenshot).

A new pop-up will appear where you will need to input your address (street, house number, city, country). You will also be asked to upload a photo or scan of your passport or ID card. Kriptomat has made this process quick and easy. You can even continue the registration on your smartphone by clicking the link provided in the email. Once on your phone, Kriptomat will guide you through the process of taking a picture of your ID (both front and back) and uploading it directly.

Finally, Kriptomat requires a selfie to verify your identity. This can be done via the camera on your smartphone, which allows you to take the selfie directly within the app.

If you plan to buy cryptocurrencies via SEPA bank transfer, you’ll also need to add a bank account to your Kriptomat account. You can then deposit money via SEPA and use your balance to buy Filecoin and other cryptocurrencies. If you choose to use Neteller, Skrill, or a credit card, adding a bank account is not necessary. After completing the registration, you will be able to start buying cryptocurrencies immediately with no additional verification levels, as you’ve already completed the full identity verification.

Buy Filecoin on Kriptomat

Buying Filecoin on Kriptomat is simple and intuitive. Start by navigating to the “Buy/Sell” tab (Step 1), and then select the “Buy” option (Step 2). In the visible section, choose Filecoin from the list of cryptocurrencies.

You will then be able to choose from four different payment methods (Step 3). While you must link a bank account to your Kriptomat account if you’re using SEPA for deposits, you can also use credit card, Neteller, or Skrill without entering any additional information.

In Step 4 (see screenshot), simply enter the amount of Filecoin (FIL) you wish to purchase. Once you click on “Buy Filecoin,” you will see the transaction fees for the order. After reviewing everything, click “Confirm transaction” to complete your purchase.

Kriptomat will then confirm your purchase and redirect you to the “My Wallet” section, where your Filecoin purchase will appear within seconds.

This purchase process is summarized in a video tutorial available on Kriptomat’s platform, providing clear guidance for beginners.

Buy Filecoin at Anycoin

Anycoin is a popular cryptocurrency exchange platform that offers a simple and secure way to buy and sell Filecoin (FIL) and other cryptocurrencies. It caters to both beginners and experienced traders, providing an intuitive interface and a range of features designed to make crypto trading easier and more secure.

Key Features of Anycoin:

1. User-Friendly Interface: Anycoin offers a straightforward and clean platform, making it easy for new users to start trading and for more experienced traders to access advanced features.
2. Wide Selection of Cryptocurrencies: Anycoin supports a range of cryptocurrencies including Filecoin (FIL), Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and more, allowing you to diversify your portfolio easily.
3. High Security Standards: Security is a priority for Anycoin, with features like two-factor authentication (2FA) and SSL encryption to protect user accounts and transactions. This ensures your crypto holdings are safe from external threats.
4. Low Fees: Anycoin aims to provide competitive fees for trading and transactions, making it an attractive option for those looking to minimize costs while trading digital assets.
5. Multiple Payment Methods: Users can purchase cryptocurrencies using various payment methods, including bank transfers, credit cards, and sometimes even PayPal, depending on their location.
6. Fast Transactions: Anycoin processes transactions quickly, allowing users to purchase cryptocurrencies without long delays. This quick access to funds is a major benefit for those who need to act fast in the market.
7. Support for Wallets: While Anycoin provides its own wallet to store your crypto assets, it’s also recommended to use your own personal wallet for added security. This can include hardware wallets or other types of secure storage.
8. Dedicated Customer Support: Anycoin offers customer support, providing assistance with any issues or inquiries that might arise during your experience on the platform.
9. Mobile Apps: Anycoin has apps available for both Android and iOS devices, making it easy to manage your portfolio and execute trades on the go.

How to Buy Filecoin on Anycoin:

1. Create an Account: Start by visiting the Anycoin website and clicking on “Sign Up.” Enter your name, email address, and create a password. Afterward, you’ll receive a verification email to confirm your account.
2. Verify Your Identity: Anycoin will ask you to complete a verification process to comply with regulatory requirements. This may involve submitting a government-issued ID and some personal information.
3. Link a Payment Method: To buy Filecoin, link a payment method to your account. Anycoin supports various payment options like bank transfers, credit cards, and PayPal.
4. Make Your Purchase: Once your account is verified and your payment method is linked, go to the “Buy” section, select Filecoin, and enter the amount you wish to purchase. Review the transaction details and fees, then complete your purchase.
5. Store Your Filecoin Securely: After buying Filecoin, it will be stored in your Anycoin wallet. However, for extra security, it’s recommended to transfer your crypto to a personal wallet (e.g., a hardware wallet) for safe storage.

Benefits of Using Anycoin:

• Simple and Easy to Use: With its user-friendly interface, Anycoin makes cryptocurrency trading accessible to everyone, including beginners.
• Secure Platform: Advanced security measures, including 2FA and SSL encryption, help ensure your funds are safe.
• Variety of Cryptocurrencies: You can easily buy Filecoin and other major cryptocurrencies on Anycoin.
• Competitive Fees: Anycoin offers low transaction fees, making it a cost-effective platform for crypto trading.
• Quick Transactions: The platform processes transactions quickly, providing fast access to your purchased assets.

Buy Filecoin at ByBit

Bybit is a popular cryptocurrency exchange platform known for its advanced trading features and high liquidity. It specializes in trading digital assets like Filecoin (FIL), Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies. Primarily used by more experienced traders, Bybit is an excellent choice for those interested in leveraging trading and derivatives.

Key Features of Bybit:

1. Advanced Trading Tools: Bybit provides a range of professional trading tools, including spot trading, margin trading, and derivatives trading (futures contracts). It also offers advanced charting features and technical analysis tools, enabling users to make informed decisions when trading Filecoin (FIL) and other digital assets.
2. High Liquidity: Bybit is known for its high liquidity, which is particularly beneficial for traders needing to execute large trades of Filecoin (FIL) without significant slippage. This makes Bybit a reliable platform for both day traders and long-term investors.
3. Leverage Trading: Bybit offers leverage trading, allowing users to amplify their positions and increase potential profits. While leverage can increase profits, it also involves higher risks, so it’s crucial to trade Filecoin (FIL) with caution when using leverage.
4. User-Friendly Interface: Despite offering advanced trading features, Bybit maintains a clean and intuitive platform. This makes it easy for both beginner and experienced traders to navigate the trading tools, including buying and selling Filecoin.
5. Security Features: Bybit takes security seriously with two-factor authentication (2FA), cold storage for crypto assets, and an insurance fund to cover potential losses during extreme market conditions. These measures are in place to ensure the safety of your Filecoin holdings and other digital assets.
6. Mobile App: Bybit offers mobile apps for Android and iOS, allowing users to trade and manage their Filecoin and other crypto assets on the go. The mobile apps feature most of the same functionalities as the desktop platform, providing flexibility for traders who need to stay connected at all times.
7. Fast Transactions: Bybit ensures quick and seamless transactions, with some of the fastest order execution speeds in the industry. This ensures that your trades for Filecoin are executed without delays, crucial during volatile market conditions.
8. Referral Program: Bybit offers a referral program that lets users earn rewards by inviting others to join the platform. This feature allows traders to earn additional income while growing the community of Filecoin traders.
9. Customer Support: Bybit provides 24/7 customer support to assist users with any issues or questions. Whether you’re buying Filecoin or experiencing a technical issue, help is always available through live chat, email, and other communication channels.

How to Buy Filecoin on Bybit:

1. Create an Account: Begin by visiting the Bybit website and clicking “Sign Up.” You’ll need to provide your email address and create a secure password. After registering, you will receive a verification email to activate your account.
2. Verify Your Identity: To comply with regulatory standards, Bybit requires users to complete a KYC (Know Your Customer) verification process. This will involve uploading a government-issued ID and providing some personal information to confirm your identity.
3. Deposit Funds: Once your account is set up, you’ll need to fund your account. Bybit supports deposits in several cryptocurrencies, including Bitcoin, Ethereum, USDT (Tether), and Filecoin (FIL). You can deposit these digital assets directly into your Bybit wallet.
4. Buy Filecoin: To buy Filecoin on Bybit:
   • Navigate to the “Spot” trading section on the platform.
   • Select Filecoin (FIL) as the cryptocurrency you wish to purchase.
   • Choose your trading pair (e.g., FIL/USDT).
   • Enter the amount you wish to purchase and review the transaction details.
   • Confirm the purchase to complete the transaction.
5. Store Your Filecoin: After purchasing Filecoin, it will be stored in your Bybit wallet. However, for added security, it’s recommended to transfer your Filecoin to a private wallet, such as a hardware wallet (e.g., Ledger or Trezor), to protect your assets.

Benefits of Using Bybit:

• Advanced Trading Options: Bybit is ideal for traders looking for advanced features like margin trading, leverage, and access to a wide range of cryptocurrencies like Filecoin (FIL).
• Fast Execution and High Liquidity: Bybit provides fast order execution and deep liquidity, which is essential for active traders in fast-moving markets like those involving Filecoin.
• Security: Bybit prioritizes user security with advanced features such as two-factor authentication (2FA), cold storage, and an insurance fund to protect against extreme market conditions.
• Mobile Trading: Bybit’s mobile apps provide the flexibility to trade Filecoin and monitor your portfolio from anywhere.
• Competitive Fees: Bybit offers low trading fees, making it a cost-effective option for trading Filecoin and other cryptocurrencies.
• 24/7 Support: Bybit provides round-the-clock customer support to resolve any issues or concerns efficiently.

Best Filecoin wallet: Electrum

When using a desktop wallet, we have had excellent experiences with the Filecoin Electrum Wallet. Below, we will guide you through the steps to download and use it to manage your Filecoin.

First, head over to the official site to download the wallet (click here!). Clicking on the link will take you to the official website where you can download the wallet. Scroll down slightly and click the button labeled “Download Electrum.”

Once there, you will need to select the appropriate wallet version for your operating system. If you’re on Windows, select the Wallet version for Windows. For example, if you’re a Windows user, click “Windows Installer” (as shown in the picture: red arrow). If you’re using Android, select the Android version accordingly:

After downloading the file, click on the setup file. Choose a directory where you want the wallet installed, and click on “Install.” The installation process should only take a couple of minutes. Once it’s complete, click “Close.”

Congratulations, the wallet is installed. Now, open the Filecoin Electrum Wallet by double-clicking the Electrum icon on your desktop. Initially, the software will ask how you want to connect to a server. As a beginner, we recommend selecting “Auto connect” at this point.

The Electrum software will detect that you have not yet created a wallet. Click “Continue,” and you can assign a name to your wallet if desired. You will then be prompted to choose from different wallet types. If you’re new to this process, we recommend selecting the “Standard wallet” option at this point. The standard wallet is free and works perfectly fine for most users.

Alternatively, you can create a “Wallet with two-factor authentication” for extra security. This requires a smartphone and the Google Authenticator app, which is available in the App Store and Google Play Store. If you choose this option, there will be an additional cost, but it significantly enhances the security of your wallet.

After clicking “Next,” a new seed phrase will need to be generated. The seed depends on the address format. We recommend using the “Segwit” setting as it’s the most commonly used address format. The system will then generate your seed, which consists of 12 words. This is your key to the wallet if you lose your password or if your computer crashes. It’s crucial that you write down the seed and store it in a safe place, preferably on paper.

Next, you will be asked to re-enter the seed phrase. Once you do so successfully, Electrum will prompt you to create a password. The longer and more complex the password, the better. Remember to use a combination of numbers and special characters. You’ll need this password every time you open the wallet, so ensure it’s secure.

Now you are ready to use the Filecoin Electrum Wallet. The “Receiving Address” can be found in the upper right corner under the “Receive” tab. Copy this address and enter it at Litebit or another Filecoin exchange as the “Receiving Address.” Once entered, select a payment method and proceed to buy Filecoin. The transaction should be credited to your wallet within 24 hours.

If you have any questions or run into any issues, feel free to leave a comment — we’re happy to assist you!