How & where to buy Filecoin (FIL) online

Use our step-by-step guide to learn how and where to buy Filecoin on the top 5+ crypto exchanges.
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Updated: Mar 27, 2024
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Filecoin tokens are available on a cryptocurrency exchange, which functions similar to a stock trading platform. It takes just a few minutes to buy Filecoin this way. Follow our quick step guide below.

How to buy Filecoin instantly in 3 simple steps

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To buy Filecoin you need a smartphone or a computer and an internet connection. It takes 10-15 minutes the first time and you should have some photo ID to hand. Here’s how to do it.

Step 1. Sign up to Plus500

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Plus500 is the simplest crypto exchange to get started with. Create an account and supply a copy of your photo ID for verification.

1
Min. Deposit
$ 100
Best offer
User Score
10
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker – FCA, ASIC, CySEC (license number 250/14)
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Step 2. Make a deposit

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Add funds via a card payment, bank transfer or an alternative payment method. You can start with as little as £10.

Step 3. Buy Filecoin token

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Type FIL into the search box then click ‘trade’. Enter how much money you want to spend and hit ‘trade now’.

Now you own Filecoin tokens! It’s as simple as that.

Where to buy FIL easily

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The overall best exchange to buy Filecoin token for beginners is Plus500 . Filecoin is also available on lots of other cryptocurrency exchanges. 

Here are the top three places to buy Filecoin, ranked according to their simplicity for beginners, fees, customer reviews, and safety ratings.

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1
Min. Deposit
$ 100
Best offer
User Score
10
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2
Min. Deposit
$ 10
Best offer
User Score
9.9
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Start Trading
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

3
Min. Deposit
-
Best offer
User Score
9.3
Strong security controls and adherence to regulatory compliance. Their certifications include ISO/IEC 27001:2013, SOC 1 Type 2, and SOC 2 Type 2
Users can spend their crypto holdings with the Gemini Mastercard®, issued by WebBank.
Offers an advanced trading platform, tailored for experienced traders.
Start Trading
Payment Methods:
ACH, American Express, Apple Pay, Bank Transfer, Bitcoin, Credit Card, Cryptocurrencies, Debit Card, Ethereum, Google Pay, Mastercard, PayPal, Visa, Wire Transfer
Full Regulations:
NYSE
4
Min. Deposit
$ 50
Best offer
User Score
9.3
Log in using the app and claim the Mystery Box to receive up to $10,000 in reward
One of the top digital asset exchanges by trading volume
Serving millions of users in over 100 countries
Start Trading
Payment Methods:
AdvCash, AliPay, American Express, Bank Transfer, Banxa, Credit Card, Debit Card, Discover, Mastercard, Mercada Pago, PayPal, Payoneer, PicPay, QIWI, SEPA, Simplex, Visa, WeChat, Wire Transfer, neteller, , , , , , , , , , , , , , , , , , , , , , , , , , , skrill
Full Regulations:
Trading in digital assets is considered high risk. Digital assets are NOT backed by any government or central bank. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting, holding, or trading digital assets is suitable for you in light of your financial condition.
5
Min. Deposit
$ 1
Best offer
User Score
9.1
FCA regulated crypto exchange with 4500+ digital assets available for trading
Supports users from over 100 countries including the US and Canada
Withdraw your funds using PayPal or other payment methods
Start Trading
Payment Methods:
Apple Pay, Bank Transfer, Debit Card, Google Pay, SEPA, Wire Transfer,
Full Regulations:
Cryptocurrency is not regulated by the UK Financial Conduct Authority and is not subject to protection under the UK Financial Services Compensation Scheme or within the scope of jurisdiction of the UK Financial Ombudsman Service. Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Capital gains tax may be applicable to profits from cryptocurrency sales.

Read more about how we rate, rank and review platforms.

Best exchanges to buy Filecoin (FIL), reviewed

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1. Plus500. Best for international CFD trading*

From 2%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to over 2800 instruments, including CFDs on stocks, forex, commodities, and cryptocurrencies among several others.

Plus500 has something for all types of traders, no matter what level of experience. It’s zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% or 0.9 pips and varies depending on the instrument. Additional fees include overnight funding which is dependant on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. eToro. Best for beginners, copy-trading & demo-account

1%

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided Over 2,000 CFDs available to trade for UK & EU users (not US, real assets only)
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.

Highlights

Visit eToro eToro Review

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

3. OKX. Best for futures and margin trading

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Stake ETH to freely mint FIFA WORLD CUP 2022 NFTs & big prizes 350+ cryptocurrencies & NFTs available across 650+ trading pairs Crypto spot & derivative markets available Pay using hundreds of local payment methods
Not available in the US Lack of fiat withdrawal options

Overview

We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, Web3 option for NFT traders, or the Pro version for a plethora of trading tools. 

From an app or desktop you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.

The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. High volume traders are also entitled to a discount, with the cheapest fees available for traders with a 30 day trading volume above $10,000,000,000.

Highlights

Visit OKX OKX Review
Trading in digital assets is considered high risk. Digital assets are NOT backed by any government or central bank. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting, holding, or trading digital assets is suitable for you in light of your financial condition.

4. Coinbase. Best secure trading platform for all types of trader

Up to 0.6%

Fees

$10

Minimum deposit

200

No. assets

No

Demo/virtual account

Pros & Cons

Simple and easy to use interface Able to buy cryptocurrencies instantly with a credit or debit card Offers great security on its wallet Can use a variety of payment methods
Quite high fees for credit and debit card instant buys Poor customer support

Overview

We love Coinbase because it’s the leading public crypto platform. Coinbase offers more than 170 cryptocurrencies to trade, a secure wallet to store your coins in, and automatic staking rewards on 10+ cryptos through Coinbase Earn.

A public company brings transparency and renown, so you can trust that any money on Coinbase is safe and you’re sharing the platform with over 100 million other users. There is insurance on all cash balances up to $250,000 and the majority of assets are stored offline in cold storage.

The fees: Trading fees start from 0.6% but reduce the higher your trading volume. Bank transfer deposits and withdrawals are free, other payment methods may be charged. There is no fee for wallet-to-wallet crypto transactions but you will have to pay blockchain fees. Coinbase charges a 25% fee for its staking services.

Highlights

Visit Coinbase Coinbase Review
Cryptocurrency is not regulated by the UK Financial Conduct Authority and is not subject to protection under the UK Financial Services Compensation Scheme or within the scope of jurisdiction of the UK Financial Ombudsman Service. Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Capital gains tax may be applicable to profits from cryptocurrency sales.

How to trade FIL

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You can trade Filecoin on a cryptocurrency exchange using a few simple steps. Here’s a quick example that clearly lays out how FIL crypto trading works:

  1. Monitor the price: Let’s say the price of FIL/USDT is $1. You read the price charts and decide that now is a good time to start purchasing FIL.
  2. Open a trade: You trade one USDT for one FIL ($1 for 1 FIL).
  3. Continue to monitor the price: The next day, one FIL token is now worth $2, a 100% increase.
  4. Close your trade: You trade your FIL token back to USDT for $2.

In this example, you buy and sell Filecoin, doubling your money (trading). While the steps are simple, executing them in a profitable way is not so easy. You need to spend many hours learning to trade, reading charts, patterns, and understanding markets and margin trading; which you can do right here on Invezz.com.

1
Min. Deposit
$ 100
Best offer
User Score
10
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

What is the best way to pay for Filecoin (FIL)?

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The simplest way to buy Filecoin cryptocurrency is with your bank card. However, there are plenty of other options as well. Here are some of the top ways to pay for FIL.

  • Buy Filecoin with a credit card or debit card. Card payments are convenient and instantaneous but you may have to pay a higher fee to make a deposit this way. Binance charges 1.8% for a card deposit and some platforms charge as much as 4%.
  • Buy Filecoin with bank transfer. A bank transfer is usually the cheapest way to buy crypto. Crypto platforms like Crypto.com and Coinbase do not charge for bank transfer deposits, while Binance only charges a £1 fee, and these transactions are more or less instant as they run through the Faster Payments System (FPS).
  • Buy Filecoin with PayPal. Some crypto brokers accept deposits via PayPal. eToro is the best option because it doesn’t charge a fee for PayPal deposits, whereas the charge can be as high as 5% or more with other platforms.
  • Alternative payment methods. Crypto brokers often let you pay with other providers or money transfer services, like Neteller, Venmo, or Payoneer. The options vary by broker, though, so check what’s accepted before you sign up.

How do I store Filecoin (FIL)?

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Most people keep their crypto on the exchange they used to buy it. If you only plan to hold onto it for a little while then that’s a perfectly acceptable option. If you want to hold it for years or you own a lot of Filecoin then you should move it to a crypto wallet.

A crypto exchange is similar to a bank account, in that it means trusting a company to protect your funds for you. A wallet is like your personal wallet, or a safe, where you take responsibility for it yourself. Two of the best Filecoin wallets to use are MetaMask and the Ledger Nano S.

Is Filecoin (FIL) a good investment?

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Whether it’s good for you depends on your goals and the fundamentals of the project. Here are some key features of Filecoin and its token to help you decide whether to invest in FIL.

  • Filecoin makes storage cheaper than traditional methods. It uses blockchain technology to allow individuals to rent out their spare storage space to others, creating a decentralised and distributed storage network. This can potentially make file storage cheaper and more accessible for everyone, removing the need for centralised storage providers.
  • Users can earn FIL for providing storage space. FIL coin acts as both a payment mechanism and an incentive for individuals to act in the general interest of the platform. Individuals can earn FIL for providing storage space and can also use FIL to pay for storage space on the platform. This creates an economic incentive for individuals to contribute to the network and ensure its growth and stability.
  • Its future depends on how many people use the platform. Investment prospects for FIL depend on the growth and success of the Filecoin platform. As more individuals and businesses adopt the platform and use FIL as a form of payment, the demand for FIL can increase, potentially increasing its value. However, if the platform does not see widespread adoption, the demand for FIL may not be as strong.
  • It will be difficult to compete with existing file storage platforms. Filecoin faces challenges in disrupting the established file storage industry, which is convenient and popular. Many individuals and businesses already use centralised storage providers and may not see the need to switch to a decentralised platform. Additionally, the file storage industry is dominated by large corporations, which may be difficult for a new decentralised platform to compete with.
  • Legal issues have raised concerns about its long-term prospects. Filecoin has had disputes with its own miners and faced a legal challenge over how it distributed coins to its employees, which are considered early challenges. These controversies have raised concerns about the project’s stability and long-term prospects, and it is a reminder to always do your research before making any investment.
  • Competition from other projects may be difficult to contend with. There are other cryptocurrencies based on file-sharing platforms and an established industry run by some of the biggest companies in the world. It is important to consider other options and compare them with Filecoin in terms of their technology, team, and market position before making any investment decisions.

Use this quick summary of pros and cons to compare Filecoin with other, similar projects.

Pros

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  • Filecoin is an early market leader in decentralised file sharing
  • FIL is quite inexpensive and more stable than some other coins
  • You can earn extra FIL by participating in the platform

Cons

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Ultimately, many different factors play into the answer. Cryptocurrency is inherently volatile but you can reduce the risks by investing in quality projects that provide value to the community.

How has Filecoin (FIL) performed this year?

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The current Filecoin price today is $4.75, which is 98.04% below its all time high of $237.73, which it reached on 01 April, 2021. FIL is up 53% this year, with a 52 week high of $29.32 and a 52 week low of $2.68. 

Is now a good time to buy Filecoin?

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The answer depends on the current price and your own investment goals. Put simply, buying Filecoin, selling Filecoin, and trading FIL are all the exact same process. It’s really just your personal investing intentions that defines whether now is a good time to invest or not.

  • If you’re a trader: as a cryptocurrency trader, your goal is to make money trading regularly. What do we mean by regularly? Hourly, daily, weekly. Traders buy and sell a coin quickly to secure their profit (or to avoid a loss). They don’t #hodl that coin long term in the hopes of larger profits. In this sense, any time is a good time to buy Filecoin.
  • As a long-term investor: a long term investor is not concerned if the price is up or down 10% on any given day. Rather, they care that the price of the native token is overall up months or years later, when they’re ready to sell that investment. So if you’re a firm believer in the foundations of Filecoin and its decentralised aggregator platform, then a good time to purchase Filecoin is on any major dip.

In our experience, most newcomers to the crypto market sit between the two. You don’t want to wait several years for a return, but buying Filecoin and selling it the next day probably isn’t why you’re here either.

Regardless, closely following FIL price news & analysis will help you decide when to pull the trigger:

The Stellar Development Foundation has announced that the Stellar (XLM) blockchain network’s “Protocol 20” upgrade is now live. With it, Stellar has welcomed the Soroban smart contracts to the mainnet. “On Feb. 20, Stellar network validators voted to upgrade Mainnet to Protocol 20, kicki
Cryptocurrencies have emerged as the best-performing assets in the financial market this year. Bitcoin is now sitting comfortably above $52,000 while the total market cap of all digital coins has jumped to over $2 trillion. Bitbot, an upcoming crypto token has raised thousands, as you can see here.&
The Stellar Development Foundation (SDF) has announced that a new vote for the Protocol 20 upgrade that was delayed last week is expected on February 20. “Today, in response to ecosystem feedback about a non-critical bug, Stellar (XLM) network validators postponed the vote to upgrade the Stellar Mai
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FAQs

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Sources & references
Risk disclaimer
Prash Raval
Financial Writer
Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.