Go to the profile of  Marianne Beltran
Marianne Beltran
3 min read

Filecoin Trading Now Live on Coinhako

Trading Filecoin (FIL) in SGD, USD, VND and other tokens is now available on Coinhako.

Filecoin Trading Now Live on Coinhako

1. Trade FIL directly with Singapore Dollars (SGD) 🇸🇬

The FIL/SGD trading pair prices FIL against the Singapore Dollar (SGD), and our Singapore users will be able to buy & sell FIL when they fund their accounts with SGD through direct bank transfers.

2.  Trade FIL directly with Vietnamese Dong Trading (VNDT) 🇻🇳

The FIL/VNDT trading pair on Coinhako prices FIL against the Vietnamese Dong (VND), and our Vietnam users will be able to buy & sell FIL when they fund their accounts with VND through direct bank transfers.

3. Trade FIL directly with US Dollars (USD) 🇺🇸

The FIL/USD trading pair prices FIL against the United States Dollar (USD), and our users will be able to buy & sell FIL when they fund their accounts with USD with a Stablecoin deposit.

4. FIL Swaps (Crypto-to-crypto trading)

Coinhako users will also be able to trade FIL with other cryptocurrencies that are supported in their countries, with our Swap function.

5. Coming SOON: FIL wallet for all

With the FIL wallet feature, Coinhako users can securely send (withdraw), receive (deposit), and store FIL.

6. Set up FIL price alerts 🚨

With Coinhako price alerts, users can set up customized price alerts to keep track of key FIL price movements.


What is FIL?

Filecoin is a peer-to-peer network built on the Web 3.0 infrastructure which facilitates open markets for users to store and retrieve files, and Filecoin token (FIL) acts as the network’s native currency.

Filecoin was founded in 2017 by Juan Beret, the creator of the Interplanetary File System (IPFS) and founder of Protocol Labs, an open-source research, development, and deployment laboratory.

How does the Filecoin network work?

The Filecoin network facilitates the storage of files where users can pay storage providers to have their files stored in a secure and verifiable manner on the network.

Storage providers on Filecoin are people or organizations that run dedicated systems with high storage built for the network These providers get rewarded in Filecoin tokens (FIL) for contributing storage to the network, and can sell their storage on an open market.

Users can select Filecoin miners whose storage capacities are most suited to their needs based on cost, redundancy and speed. Users are also able to verify that their files are stored correctly by checking Filecoin’s blockchain.

Unlike centralised storage systems, Filecoin’s decentralised network enables users and applications that use Filecoin to negotiate storage with any miner on the network.

Proof-of-Replication (PoRep) and Proof-of-Spacetime (PoSt)

Unlike typical proof-of-work blockchains, verifications on the Filecoin network are based on Proof-of-Replication and Proof-of-Spacetime. This means that Filecoin storage miners prove that they store a physically unique copy of the data. Proof-of-replication happens only once, when the data is first stored by the miner.

Proof-of-Spacetime, on the other hand, is an ongoing process which is run repeatedly to prove that they are continuing to allocate storage space to that same data over time.

The Filecoin token (FIL) currently ranks #21 amongst all cryptocurrencies and has had healthy gain prices since its ICO in 2017. FIL Reached an ATH price of $131.86 on October 15, 2020.

At the time of writing, FIL traded on Coinhako at $29.34 USD.

Buy FIL now!

Set price alerts for FIL on Coinhako IOS or Android or View Live FIL prices HERE!

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All opinions expressed here by Coinhako.com are intended for educational purposes, taken from the research and experiences of the writers of the platform, and should not be taken as investment or financial advice.