FIL
Reputation Ratings

FIL

Filecoin 2-5 years
Cryptocurrency
Website https://filecoin.io/
Browser
OTH RELPs
Github
White Paper
FIL Avg Price
-3.01%
1D

$ 4.6089 USD

$ 4.6089 USD

Market Cap

$ 2.6952 billion USD

$ 2.6952b USD

24h trading volume

$ 502.976 million USD

$ 502.976m USD

7d Vol

$ 2.7641 billion USD

$ 2.7641b USD

Circulating supply

600.49 million FIL

Related information

Issue Time

2020-10-15

Platform pertained to

--

Current price

$4.6089USD

Market Cap

$2.6952bUSD

Volume of Transaction

24h

$502.976mUSD

Circulating supply

600.49mFIL

Volume of Transaction

7d

$2.7641bUSD

Change

24h

-3.01%

Number of Markets

540

Github Messages

More

Warehouse

None

Github's IP Address

[Copy]

Codebase Size

2

Last Updated Time

2020-04-02 15:39:47

Language Involved

JavaScript

Agreement

--

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Current Rate0

Available

0.00USD

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WikiBit Risk Alerts

1
Previous Detection 2024-11-22

The number of the negative comments received by WikiBit have reached 10 for this token in the past 3 months, please be aware of the risk and the potential scam!

FIL Price Chart

Introduction

Markets

3H

-2.44%

1D

-3.01%

1W

+1.92%

1M

+10.27%

1Y

-4.68%

All

-96.96%

AspectInformation
Short NameFIL
Full NameFilecoin
Founded Year2017
Main FoundersJuan Benet
Supported ExchangesBinance, Huobi Global, OKEX, Coinbase, Kraken
Storage WalletTrust Wallet, Ledger, Metamask, filwallet.ai

Overview of FIL

Filecoin, often referred to by its abbreviated token name, FIL, is a type of cryptocurrency that was established in 2017. It was primarily founded by Juan Benet, and it operates on a decentralized system that rewards users for contributing their excess storage on a global, cooperative data storage and data retrieval network. Currently, it has received widespread support from numerous crypto exchanges, including but not limited to; Binance, Huobi Global, OKEX, Coinbase and Kraken. For those looking to store FIL tokens, they may use a variety of cryptocurrency wallets such as Trust Wallet, Ledger, Metamask, or filwallet.ai.

Overview of FIL

Pros and Cons

ProsCons
Decentralized file storage systemVulnerable to market volatility
User incentive for storage contributionRequires technical understanding
Supported by major crypto exchangesPossibility of network congestion
Multiple wallet compatibilityDependence on network participants

What Makes FIL Unique?

Filecoin (FIL) brought forward a unique concept in the world of cryptocurrencies. Unlike traditional digital currencies that solely serve as mediums of exchange or value storage, Filecoin is an incentive layer built on top of the InterPlanetary File System (IPFS), a peer-to-peer data storage network. This forms the core of Filecoin's innovation, offering a platform where users can trade unused storage space in return for FIL tokens.

Whereas normal cryptocurrencies like Bitcoin and Ethereum are primarily used to conduct transactions, Filecoin's model provides a utility function beyond just the financial aspect. It transforms the model of data storage and retrieval into an economic system of its own. Users, who provide their spare storage capacity to the network, are incentivized with FIL tokens. Thus, it's not just about wealth transfer, but also about fostering a decentralized storage ecosystem.

What Makes FIL Unique?

How Does FIL Work?

Filecoin's working mode and principles revolve around its unique function as a decentralized file storage and retrieval platform. Participants in the Filecoin network provide their excess storage capacity to store files in exchange for FIL tokens. These participants, known as miners, do not require high-powered computing devices as in typical Proof-of-Work blockchains such as Bitcoin.

In terms of mining software, there are several options that miners can choose from based on their specific needs. These include lotus-miner, bminer, and many others. The choice of mining software will depend on factors like the miner's technical capability, the storage infrastructure they have in place, and their specific performance needs.

While traditional Bitcoin mining is about solving complex cryptographic puzzles, Filecoin mining revolves around the concept of useful work i.e., providing data storage services to the network. Therefore, the mining speed in Filecoin doesn't depend on computational power but rather depends on the amount of storage space a miner provides to the network and how much of that space is utilized for storing files.

Concerning mining equipment, instead of requiring special application-specific integrated circuit (ASIC) machines like Bitcoin, Filecoin mining requires hardware with large data storage capacity, fast internet, and highly reliable uptime. Standard hard drives, solid-state drives, or dedicated storage servers can be utilized.

How Does FIL Work?

Exchanges to Buy FIL

Several recognized and widely used cryptocurrency exchanges support the buying and trading of Filecoin (FIL). Here are a few:

1. Binance: As one of the world's leading cryptocurrency exchanges by trading volume, Binance offers the opportunity to buy, sell, and trade FIL across multiple trading pairs.

2. Huobi Global: Known for its wide array of supported cryptocurrencies and advanced trading features, Huobi Global also lists FIL for buying and selling.

3. OKEX: OKEX allows buying, selling, and trading of FIL, and it provides several trading options including spot, futures, and perpetual swap contracts.

How to Store FIL?

Storing Filecoin (FIL) involves sending them to a digital wallet, which is a kind of digital application that allows users to store, retrieve, and manage their cryptocurrencies. Here are a few wallet options that are compatible with FIL:

1. Trust Wallet: Trust Wallet is a mobile wallet that supports a wide range of cryptocurrencies including FIL. It offers an unfussy, user-friendly interface and focuses on providing a secure environment for crypto storage.

2. Ledger: Ledger is a hardware wallet, considered one of the safest ways to store cryptocurrencies. Ledger devices allow users to store their FIL offline, away from potential online threats.

3. Metamask: Metamask is a browser extension wallet that provides an easy-to-interface and convenient means of storing FIL. Its integrated into the browser for easy access and usage.

4. filwallet.ai: This is a dedicated FIL wallet, designed specifically for storing and managing FIL.

Should You Buy FIL?

Purchasing Filecoin (FIL) could be suitable for different types of individuals based on their specific investment goals, financial situation, risk tolerance, and technical understanding.

1. Technical Enthusiasts: Those who are interested in the underlying technology of decentralized storage services and want to support such an ecosystem may consider buying FIL.

2. Long-term Investors: People looking for long-term cryptocurrency investment might find FIL attractive due to its unique business model, providing a distinct diversification opportunity compared to 'traditional' cryptocurrencies.

3. Crypto Traders: Frequent crypto traders might also be interested in FIL due to its price volatility, which can create opportunities for speculative trading.

Should You Buy FIL?

FAQs

Q: Can you identify the fundamental innovation that sets Filecoin (FIL) apart?

A: Filecoin uses its decentralized platform to enable users to trade unused storage space for FIL tokens, making it distinct from many other traditional cryptocurrencies.

Q: Which exchanges provide the option to trade the Filecoin (FIL) token?

A: Crypto exchanges such as Binance, Huobi Global, OKEX, Coinbase and Kraken all offer the option to trade Filecoin (FIL).

Q: What type of equipment is needed for the mining of Filecoin?

A: Filecoin mining necessitates hardware with significant data storage capacity, fast Internet connectivity, and high uptime reliability.

Q: How securely can I store my Filecoin (FIL) tokens?

A: The secure storage of Filecoin (FIL) tokens is possible with a variety of digital wallets, such as the Trust Wallet, Ledger, Metamask, or filwallet.ai.

User Reviews

More

23 ratings

Participate in evaluation
Lala27
Filecoin is an open-source, public cryptocurrency and digital payment system. But, The primary drawbacks of Filecoin are its distribution method and the financial and technological obstacles to mining it. On its website, they caution that mining Filecoin is not straightforward and necessitates expensive gear in addition to prior familiarity with system configuration and maintenance.
2023-11-24 08:47
9
leofrost
I'm intrigued by its decentralized storage concept, allowing users to earn and spend FIL for file storage services. Exploring its adoption and the overall growth of decentralized storage in the market can offer valuable insights.
2023-11-23 05:46
5
CJ002
FILL (Niftyx Protocol) - A decentralized protocol that allows for the creation and trading of unique NFT options
2023-12-22 17:52
5
Windowlight
Filecoin (FIL) leverages blockchain technology to create a decentralized storage network, incentivizing users to share their storage space.
2023-12-21 22:55
9
dvgjjfdyjncddhjncfjj
A very good project. The project team is actively working on it and developing better and better.
2023-12-22 10:56
4
dvgjjfdyjncddhjncfjj
Very good token, the project team works hard
2023-12-22 10:53
8
Rana317
I have used it This is very good I will tell everyone to use it You will feel good I am doing too Feel good too You will also give 5 stars again Will be happy Work is also good If it is good, you will feel good
2023-11-24 19:31
7
韭菜拔起来
Don’t buy rubbish coins to deceive people
2023-11-19 11:04
7
韭菜拔起来
FIL is too deceptive and too warm. Other coins are rising but they are not rising or falling faster than anyone else. It fell from more than 230 to more than 2 yuan. In order to save valuable time and make more profits for the next wave of big bulls, it is not recommended to buy this coin.
2023-11-19 11:02
1
天道酬勤91698
Can fil still take off? The most recent duo, under the guise of fil, is the fil project responsible for the six-pulse turbine? Or a Ponzi scheme?
2023-05-07 23:43
1
阿杜39312
The international shared platform iPfs induces consumers to mine FIL coins. Recently the website cannot be accessed, so did the Android APP.
2022-01-29 15:43
0
BIT2553998712
It led people to devote investment but then was disabled due to management issues.
2021-09-22 22:48
0
3242628596
It would block your account if you wanted to withdraw.
2021-09-16 17:46
0
huocbihainvip
Expose their true colours after some sweet talks
2021-07-04 21:09
0
huocbihainvip
When you haven't invested, you are treated like his father. But after that, you are nobody
2021-07-04 20:31
0
Heartbeat24275
I have been at the authorization interface, but I can’t withdraw cash.
2021-05-07 22:23
0
lmb0001
I bought a mining rig to dig FIL at the end of last year. Many investors were attracted cuz the low-price rig yielded much. But later, 111 said the hacker attacked their app. What’s the relationship between the rig and the app? I hope that the police department can investigate their company, making victims lose less.
2021-03-19 01:42
0
Dory724
it has a Decentralized storage. Strong backing. Proven concept. Keep an eye on the competition in the storage space.
2023-11-22 03:46
0
Araminah
Filecoin (FIL): A decentralized storage system that aims to “store humanity’s most important information”.
2023-10-02 12:50
6
yikks7010
Filecoin's idea of decentralized storage is cool. Rented out some space, but it's a competitive market. Adoption is key.
2023-11-04 00:51
9

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