Filecoin (FIL) is known as a cryptocurrency project that managed to raise 205 million dollars during the ICO frenzy. Initially attracting investors’ attention with this fund, FIL Coin later made a name for itself with its infrastructure and the technology it aims to offer. Filecoin actually aims to convert unused storage devices and capabilities into an opportunity for Filecoin mining.
What is Filecoin?
A project aiming to allow people to earn FIL coin by opening up unused storage spaces in their computers or other devices to those in need, it naturally faced immense interest. Long in development and finally launched in 2020, FIL Coin was listed on Binance on the same day. The surge in FIL Coin’s price and popularity following its listing was a predictable development.
Using the IPFS mining protocol, Filecoin allows the introduction of new coins into the market through mining, similar to Bitcoin. There are a total of 2 billion FIL Coins, with 70% allocated for mining production, 15% for protocol development, 10% for ICO investors, and the remaining 5% for the Filecoin foundation.
So, how to buy FIL Coin on Binance on the day it was launched?
How to Buy FIL Coin?
What needs to be done to purchase FIL Coin? FIL Coin can be bought and sold on Binance, and users can simply follow the steps below:
- To buy FIL, first, deposit USD balance into the exchange or buy a cryptocurrency that can be used instead. For this, first go to the Binance main page, click on the “Buy Crypto” option in the upper left, and then click on the “Credit/Bank Card” tab.
- In the tab that opens, select how much USD you want to trade with and mark Tether, i.e., USDT, in the Coin section.
- After purchasing USDT, again preview the “Buy-Sell” option in the upper left and click on the “Classic” tab.
- In the section that opens, select the USDT tab in the upper right, type FIL in the search button, and select the FIL/USDT pair that appears below.
- Then, go to the “BUY FIL” tab in the middle, enter the amount you want to buy.
- Enter the amount you want and complete the FIL purchase by confirming the transaction.
