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What is Filecoin?

Filecoin (FIL) is a peer-to-peer, decentralised cloud storage network, with built-in economic incentives to ensure files are stored reliably over time.

  • The network is made up of a diverse range of storage providers and developers. This aims to create a robust and reliable service.
  • Storage miners earn FIL by utilising idle hard drive space to provide storage for users. The probability of earning the block reward and transaction fees is proportional to the amount of storage the miner provides to the network.
  • Retrieval miners earn FIL by winning bids and mining fees for a particular file. When a miner bids, their bandwidth/response time (latency or proximity to client), will play a factor to close retrieval deals on the network.

Through Filecoin's unique storage and retrieval services, it has created an open market allowing anyone to monetise spare bandwidth or hard drive capacity.

How do I swap Filecoin?

Enter amount to swap
Select the quantity of Filecoin you would like to swap.
Select coin to swap with
Select the coin you would like to swap with.
Confirm & swap
Click 'Swap' to confirm. Your coins will arrive in your wallet within minutes!

Learn more about Filecoin

Why Should I Trade FIL with CoinSpot?

CoinSpot is Australia’s largest cryptocurrency platform that has been operating since 2013 and is trusted by over three million Australians. We make it easy to buy and sell Filecoin no matter what your trading experience is. Unlike other international and Australian Filecoin exchanges that require experience and technical knowledge, we make the entire trading process simple for beginners and advanced traders alike.

CoinSpot provides layered security and advanced support systems so you can buy Filecoin with peace of mind and the comfort knowing support is available everyday to help. There are multiple trading options on our exchange that allow you to conveniently trade Filecoin how you want to. You will feel familiar with CoinSpot from the beginning and have access to everything you need to buy, sell and manage your cryptocurrency.

How do you store your Filecoin?

Storing on CoinSpot

Due to CoinSpot’s flexible Multicoin Wallet, storing your digital currency is simple. Just by creating your CoinSpot account you will automatically be given your own unique wallet where you can store your Filecoin for free.

Cold Storage

If you are holding Filecoin as a long term investment, you can utilise a cold storage wallet and send your coins there from your CoinSpot account. A cold wallet is a wallet which is completely offline (not connected to the internet) and is a popular option amongst people who prefer to hold their coins, rather than regularly trade.

Frequently asked questions

Right here! CoinSpot offers traders a fast, simple, easy and secure way to buy Filecoin. We are trusted by over three million customers and with just a few clicks, you can exchange Australian Dollars or other cryptocurrencies for Filecoin. CoinSpot helps users easily buy crypto, build their portfolio, make secure purchases and invest in this exciting asset class.
Filecoin has a floating exchange rate – meaning its price is set by individual vendors based on available supply and demand. As Filecoin is a globally traded asset, the price can vary across the world based on order books, volume, exchange rates and service fees of each individual Filecoin exchange.
Cryptocurrency differs from other traditional trading options as you can make fractional purchases, meaning you don’t have to buy whole coins. This means you can start investing in Filecoin & other digital currencies with as little as $1!
Practicing safe investing is best treated as a shared effort. CoinSpot provides a list of security tips that we recommend putting into practice to ensure you’re keeping yourself secure. Step one to buying Filecoin safely however is using a reputable exchange such as CoinSpot. We are the first Australian exchange to be awarded the internationally recognised ISO 27001 certification for security management and processes. Operating since 2013, we’re proud to say we’re Australia’s most trusted exchange. Start your Filecoin portfolio here.
Yes! With CoinSpot you can convert your Filecoin to AUD (Australian Dollars) instantly. You can also withdraw AUD to your Australian bank account for free with no withdrawal limits.

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