Buy Filecoin today
Buy Filecoin today
- Own FIL & 75+ other cryptoassets
- Join a community of 25+ million
Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Capital gains tax on profits may apply.
How to buy Filecoin (FIL) in the UK
Learn how to buy Filecoin (FIL) on 7+ crypto exchanges in our step-by-step guide.
Filecoin (FIL) is the 32nd largest cryptocurrency by market cap, valued at US$1,988,760,255.
Filecoin is a highly volatile asset capable of major price swings in a single day. Today FIL is trading for $4.66 USD, which is higher than yesterday's trading price of $4.51 USD. Over the past year, Filecoin's price has seen a decrease of -42%.
So before you buy Filecoin, make sure you understand these unique risks as well as its legal and tax status here in the UK.
If you're ready to get started, read on for step-by-step instructions on how you can buy Filecoin.
How to buy Filecoin in 4 steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
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Compare crypto exchanges
The easiest way to buy Filecoin is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
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Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
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Make a deposit
Once verified, you can deposit GBP using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
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Buy Filecoin
You can now exchange your funds for Filecoin. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Filecoin to your personal wallet.
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.
Where to buy Filecoin in the UK
Find an exchange to buy, sell and trade FIL by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.
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How we keep this Filecoin guide up-to-date
- FIL price data is regularly updated through data feeds so you always have the latest information.
- Filecoin performance data is regularly updated using automated comparisons and AI systems built by our technical experts Zak Killermann and Helen Hu.
How do I find the best places to buy Filecoin?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the UK to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Filecoin?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Filecoin.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing FIL with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What is the easiest way to buy Filecoin?
The easiest way to buy FIL is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying FIL, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of Filecoin has been performing recently.
Best Filecoin wallets to store your FIL
You can keep your FIL on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your FIL below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,317+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $186 |
Price (USD) $49.99 |
See more of the best crypto wallets
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.
Is Filecoin a good investment?
Before deciding whether or not to buy FIL, there are a few things worth considering:
- Inflationary token: Filecoin is a highly inflationary cryptocurrency, which means it may not be a great asset for holding long term. This is because it is a utility token, so it is designed to be spent and used within the Filecoin ecosystem, rather than held for its speculative value like Bitcoin. The bulk of tokens are reserved for mining rewards, which makes up 70% of the total supply and will be gradually released over the lifetime of the network. The remaining tokens are already allocated, either sold to investors in the 2017 ICO or reserved in order to fund future development.
- Use-case: Filecoin’s native token FIL is used for payments on the network, as well as held by miners as collateral in order to use the network. Contracts between miners (storage providers) and clients (storage buyers) are settled through bids on an open market, using Filecoin as payment. Filecoin tokens are also used to settle microtransactions on the network, such as when data is pulled from multiple storage locations on demand. In addition to receiving payments, miners can also earn Filecoin simply by offering space, even if it goes unused. This is so there is a given amount of free storage on the network at any given time.
- Competition: Filecoin was one of the first platforms to offer decentralised storage using the blockchain, however it is not the only project in this sector. Storj and Sia are both direct competitors to Filecoin. On top of this, Filecoin has to contend with major centralised businesses that currently dominate the cloud storage space – companies such as Google, Apple and Amazon all operate cloud storage platforms.
Today's Filecoin price versus ATH
Compare today's price of Filecoin ($4.66 USD) against its all-time-high price of $236.84 USD on 01 April 2021. The closer the bar is to 100%, the closer FIL is to reaching its ATH again.
Filecoin's price: $4.66
ATH date: April 01, 2021
ATH date: April 01, 2021
1.97%
Filecoin ATH: $236.84
How to trade, convert or sell Filecoin
You can convert or sell your FIL with the same exchange you bought it through:- Sign in to the exchange you have FIL on.
- If you store your Filecoin in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of FIL you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Filecoin.
- Complete your transaction and move your FIL to a wallet for storage.
* Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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