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About Filecoin
Filecoin is a decentralized storage network where providers rent out disk space and are paid to store client data. Cryptographic proofs verify that files are genuinely held and remain retrievable. FIL is the asset used to pay for storage and to collateralise providers.
How Filecoin Works
Storage providers pledge FIL as collateral and continuously submit proofs that they still hold the data they agreed to keep. Failing to produce a proof costs them part of that collateral, which is what makes the promise enforceable without trusting the provider. Clients pay in FIL for the duration and redundancy they choose.
The History of Filecoin
Filecoin was created by Protocol Labs, the team behind IPFS, and raised a large sum in 2017 before launching its main network in 2020. A later upgrade added a virtual machine, allowing smart contracts and programmable storage deals on the network itself.
What FIL Is Used For
FIL pays for storage and retrieval, and is locked as collateral by providers as a guarantee of service. It also carries a role in network governance and in the incentive programs that direct capacity towards useful data.
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Why buy Filecoin with YouHodler? +
YouHodler combines advanced security and encryption with a simple way to buy and sell FIL, fast crypto transactions, support for multiple fiat currencies, and a platform that works for newcomers and experienced traders alike.
Is Filecoin a good investment? +
Filecoin addresses a real need and has assembled a very large amount of storage capacity with working cryptographic guarantees. Much of that capacity has historically been driven by incentives rather than paying customers, so demand for storage is the number to watch. FIL is volatile — research it before investing.
Can I buy Filecoin today and sell it tomorrow? +
Yes. YouHodler supports selling as well as buying, so you can acquire FIL and later exchange it for fiat currencies such as USD or EUR. Transactions settle quickly, major fiat currencies are supported, and withdrawals go out by bank transfer.
Is it safe to buy Filecoin? +
Buying FIL is generally safe on a reliable platform like YouHodler, which applies data encryption, identity verification and multi-layer account protection. The asset itself stays highly volatile, so prices can move sharply over short periods.
How do I convert Filecoin to cash? +
Connect a bank account, debit card or credit card to your YouHodler profile, exchange your FIL for a fiat currency such as USD or EUR, then withdraw the balance straight to your bank.
How much is $100 worth of Filecoin right now? +
That depends on the live FIL price, which moves constantly. Use the price chart on this page to see the current rate and work out exactly how much FIL $100 buys at this moment.
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