Filecoin is a decentralized network that is built on top of the InterPlanetary File System and intended for digital storage. Users of the protocol are able to transact in the network’s native cryptocurrency FIL to rent out storage availability. As a peer-to-peer network used for decentralized cloud storage of files, Filecoin deploys a novel proof mechanism, Proof-of-Spacetime, to power its data storage and retrieval service via a network of independent storage providers Filecoin is a utility token for the use and provision of extra storage space in exchange for FIL tokens.
How To Buy Filecoin or Add it to your strategy
The fastest, most convenient way to purchase Filecoin is to purchase it on ICONOMI. We check Filecoin live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Filecoin by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto trades use fundamental and technical analysis to evaluate if Filecoin is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Filecoin, we recommend you read the next section, as copying might be a better approach.
Add Filecoin to your portfolio by copying a Strategy
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have Filecoin in their structure.