Where & How to Buy Filecoin (FIL) for Beginners in 2025

Use our step-by-step guide to learn how and where to buy Filecoin on 5+ highly rated crypto platforms.
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Updated on Oct 10, 2024
Reading time 3 minutes

Filecoin coins are available buy via 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 quickly in 3 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 a crypto platform

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Sign up to one of the best crypto platforms to start trading. Alternatively, there are several other options to select from below. Anyway, create an account and supply a copy of your photo ID for verification.

We found 9 crypto platforms for users based in

Plus500 review
4.5
Plus500
Min. Deposit $100
Fees From 2%
No. assets 2800+
Demo account Yes

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.

This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorised by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe such as leverage limitations and bonus restrictions.

Coinbase review
4.2
Coinbase
Min. Deposit $10
Fees Up to 0.6%
No. assets 150+
Demo account No

Coinbase review

Kraken review
4.0
Kraken
Min. Deposit $10
Fees 0.10% – 0.26%
No. assets 200+
Demo account Yes

Kraken review

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 $100 on most services.

Step 3. Buy Filecoin token

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Locate the search box and type FIL. Once you locate the coin trading page, enter how much money you want to spend and hit ‘trade now’.

Now you own Filecoin tokens! Not a big deal, right?

Where to buy FIL easily

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The overall best platform to buy Filecoin for beginners is Plus500 .

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

  1. Plus500: Best for international trading*
  2. Coinbase: Best secure trading platform for all types of trader
  3. Kraken: Best for simple, global cryptocurrency trading from your phone
  4. Uphold: Best for building long term wealth
  5. KuCoin: Best social trading altcoin exchange

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

Best exchanges to buy Filecoin (FIL), reviewed

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We found 9 crypto platforms for users based in

1. Plus500. Best for international trading*

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4.5
Ratings

$100

Min. deposit

From 0.08%

Fees

2,800

No. assets

Yes

Demo account

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 trade. Its technology driven platform gives access to futures for a range of instruments, including forex, commodities, and cryptocurrencies among several others.

Plus500 has something for all types of traders, no matter what level of experience. Its low margin requirements (starting at $20) and different contracts make it a top choice for day traders. At the same time, its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: Plus500 charges a commission of $0.49 per Micro contract and $0.89 per Standard contract (per side). There is an Auto-Liquidation fee of $10 per contract. Other exchange fees may be applicable and can be found on the CME group website. 

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

Highlights

Fees & Costs

Pros & Cons

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.

This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorised by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe such as leverage limitations and bonus restrictions.

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

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4
Ratings

£10

Min. deposit

Up to 0.6%

Fees

200

No. assets

No

Demo account

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.

Coinbase’s user-friendly platform simplifies the buying, selling, and trading processes, making it one of the top crypto exchanges for all levels of trader. But, Coinbase isn’t just an easy to use platform, it’s one of the safest and most secure. 

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. It stores 98% of customer assets offline in cold storage, minimizing the risk of theft. There is also insurance on all cash balances up to $250,000

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

Fees & Costs

Pros & Cons

3. Kraken: Best for simple, global cryptocurrency trading from your phone

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4
Ratings

$10

Min. deposit

0.10% – 0.26% (volume dependent)

Fees

200

No. assets

Yes

Demo account

Overview

We love Kraken because it’s a beginner-friendly crypto trading platform, one that’s designed to make it quick and convenient to buy and sell crypto on the go. The Kraken mobile app provides access to over 200 cryptocurrencies making it one of the most diverse platforms around. 

With an intuitive interface and many advanced features, the Kraken crypto app is suitable for those just starting, or experienced traders wanting to enhance their trading experience. The Kraken mobile app caters to different trading styles and preferences with spot, margin, and futures all available. 

Kraken’s mobile app also supports up to 5:1 leverage allowing you to amplify your position and potentially increase your returns. With such a wide selection of tokens available and a solid range of features and tools, the Kraken app is one of the top cryptocurrency trading platforms while on the go. 

The fees: Kraken charges a fee of between 0-0.26% on every crypto trade. There are no costs to set up an account and no flat trading fees.

Highlights

Fees & Costs

Pros & Cons

4. Uphold. Best for building long term wealth

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4
Ratings

£1

Min. deposit

$0

Fees

300

No. assets

Yes

Demo account

Overview

We love Uphold because it’s a regulated and transparent digital asset platform. Uphold is an excellent platform for discovering important new tokens early, making it ideal for investors looking to get in on the ground floor of emerging cryptocurrencies. 

Uphold offers a broad selection of coins, with over 250 tokens available catering to both seasoned and novice crypto traders. The platform regularly adds new assets allowing users to invest in promising projects before they gain mainstream attention. 

Uphold isn’t just a platform for investing early. One of the main advantages of using Uphold is its transparent and competitive fee structure. The platform does not charge for deposits or withdrawals, and trading fees are clearly stated. You can also trade between different asset classes including fiat currencies. 

The fees: Crypto spreads start from 0.9% and are usually lower than 1.3% for BTC and ETH. Other cryptocurrency spreads are higher. Average spreads on fiat currency are 0.2%. There is a $0.99 fee for transactions under $100 made with the Uphold card.

Highlights

Fees & Costs

Pros & Cons

Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.

5. KuCoin. Best social trading altcoin exchange

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4
Ratings

$-

Min. deposit

Fees

No. assets

No

Demo account

Overview

We love KuCoin because it’s a great place for beginners to trade more than 700 altcoins. Kucoin offers a vast range of cryptocurrencies including all the big names like Bitcoin and Ethereum, together with hundreds of altcoins and newly released tokens. 

The exchange gives you multiple ways to trade and invest in crypto, including spot trading, futures trading, margin trading, and staking. This choice allows you to choose the method that best suits your trading strategies and risk tolerance. 

Kucoin is a top platform for both beginners and experienced traders. Its intuitive interface is easy to get to grips with and its advanced trading features mean even high volume traders can make use of it. Kucoin also offers an earn feature, where you can generate passive income through staking and lending, making it one of the best all round crypto exchanges. 

The fees: Trading fees are charged on a sliding scale. Fees are 0.1% on trading volumes below 50 BTC in a 30 day period. Discounts are available if you pay fees in KCS or store more than 1000 KCS in your account.

Highlights

Pros & Cons

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: For simplicity, 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 USD for 1 FIL).
  3. Continue to monitor the price: The following month, 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 countless hours learning to trade, reading charts, technical patterns, and understanding markets and margin trading; which you can do right here on Invezz.com.

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 Automated Clearing House (ACH) in the US, Faster Payments System (FPS) in the UK, or Single Euro Payments Area (SEPA) in Europe.
  • 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 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 in literal terms. 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 a coin long term in the hopes of larger profits. In this sense, any time is a good time to trade 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 FIL, 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.

How has Filecoin (FIL) performed this year?

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The current Filecoin price today is $3.43, which is -98.55% versus its all time high of $237.24, which it reached on 01 April 2021. FIL is -41.00% this year, with a 52 week high of $11.81 and a 52 week low of $2.74. 

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

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.

FAQs

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01

Where can I buy Filecoin (FIL)?

02

What do I need to buy FIL?

03

Is Filecoin on Coinbase?

04

Is Filecoin on Binance?

05

Is Filecoins on eToro?

06

What is the best wallet to store Filecoin?


Sources & references

Prash Raval

Prash Raval

Financial Writer

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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 running an educational service helping novice traders learn the markets. He has a keen interest in micro and small cap stocks....